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Plato's Closet franchise — is it worth it?

Low risk Growing network Item 19 disclosed

Plato's Closet is a retail franchise with a strong track record of growth and transparent financial disclosures.

Everything below is free, read straight off Plato's Closet's registered filing, with where the numbers land against retail peers. Weighing Plato's Closet against other options? Get a free shortlist of franchises that fit your budget.

Figures above are as disclosed in Plato's Closet's most recent FDD (registered 2026). Source: Wisconsin Dept. of Financial Institutions — Franchise Registration · filing 640333 — check it yourself. See every other Wisconsin-registered franchise.

How much does a Plato's Closet franchise make?

Plato's Closet is one of the franchisors that answers this on the record: its most recent FDD makes an Item 19 financial performance representation — actual unit earnings figures, disclosed by the franchisor itself. The headline figure is $1,307,875 in average unit revenue — read it alongside what Item 19 says about which units it covers (often only mature or top-performing locations). See every retail brand that discloses earnings in the Retail franchises with disclosed Item 19 earnings ranking.

Plato's Closet franchise profit vs. revenue

Revenue is not profit. An Item 19 almost always reports sales — what a location takes in — not what an owner keeps. Out of that number come the royalty, the ad fund, rent, payroll, supplies and debt service. No FDD tells you a Plato's Closet franchise's profit, because profit depends on your site, your rent and how you run it — so treat any "Plato's Closet franchise profit" figure quoted elsewhere as someone's estimate, not a disclosure.

Plato's Closet lawsuits & legal history (FDD Item 3)

Plato's Closet's most recently filed Franchise Disclosure Document (2026) discloses no litigation in Item 3. That is a real signal rather than a gap: the FTC Franchise Rule requires a franchisor to disclose material litigation involving itself, its predecessors, parents, affiliates and management, so an empty Item 3 in a current filing means there was nothing it was required to report. It is worth reading alongside the churn numbers — a system can have a clean Item 3 and still be losing franchisees, which is what Item 20 shows.

Plato's Closet closures & failure rate

Before you sign, Plato's Closet will hand you a list of current owners to call as references — and they choose who's on that list. It won't include the owners who quit, got bought out, or were forced out last year. The FDD does report that number, even though the reference list leaves those people off. Below is what Plato's Closet's most recent filing shows, and whether it's normal for a retail of this kind.

The closest thing an FDD has to a failure rate is Item 20 — outlet openings, closures, terminations and non-renewals, reported by the franchisor. Plato's Closet's latest tables show a growing franchised network. Net franchised outlets moved +11 to 526 in the latest reported year.

Who owns Plato's Closet?

Plato's Closet's franchise is offered by Winmark Corporation — the franchisor named on the cover of its most recently filed Franchise Disclosure Document (2026), and the entity a franchisee actually signs with. That name comes straight off the filing at WI DFI; it identifies the franchisor, not necessarily the ultimate parent company behind it. The same franchisor files separate FDDs for other brands, which is worth knowing — sibling brands share a franchise-support organization but disclose their own numbers:

Retail franchises at a similar investment level

Anyone weighing Plato's Closet is really weighing it against the other brands their money could go into. These are the closest by total initial investment (FDD Item 7), each with its own FDD-based page.

Plato's Closet franchise — frequently asked