Start-Up Costs and Fees |
||
| Plato's Closet | Boomerang Kids | |
| Investment | 251700 - 390700 | 167000 - 240000 |
| Franchise Fee | ||
| Royalty Fee | 5% | 5% |
| Advertising Fee | $1K/yr. | 1% |
| Year Founded | 1998 | 1994 |
| Year Franchised | 1999 | 2011 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Plato's Closet | Boomerang Kids | |
| Experience | Applicants should have net worth exceeding $250,000, including at least $75,000 in cash or liquid assets (non-retirement stocks and bonds, etc), and another $150,000 or in assets to be used as collateral to obtain appropriate financing. Proof of financial networth and assets will be required as you move forward in our franchise process. A successful Boomerang Kids franchisee requires money, hard work and patience. It isn't for everybody. Having knowledge of children's products is very helpful, as is a great appreciation for kids and families. If you are motivated, organized, enjoy helping people and strive for excellence in customer service and can diligently follow our system, you are a good candidate for a Boomerang Kids franchise. | |
Financing Options |
||
| Plato's Closet | Boomerang Kids | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| Plato's Closet | Boomerang Kids | |
| Training | On-The-Job Training: 30 hours Classroom Training: 48 hours | Comprehensive training program using lecture-style and in-store training, including manuals for tagging and processing clothes, the computer systems, and store operations and customer service Instruction includes how to buy, consign, process and tag consignment items, sell, service, market, advertise, hire staff, buy, control and turn inventory, manage cash flow and more |
| Support | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform | *Development of a comprehensive, 3-year financial business plan with monthly data *Pro-forma scenario-based planning *Financing options, preparing for loan applications *Site evaluation, market analysis, demographic review *Negotiation and "offer to lease" assistance *Store design, floor-planning and merchandising strategies *In-store set-up *Back-office set-up assistance, including consignment and point of sale computer system, guidance on banking procedures and supplier management *Initial inventory selection *Grand Opening assistance *On-site store opening assistance |
| Marketing | Co-op Advertising Ad Templates Regional Advertising Social media SEO Website development Email marketing Loyalty program/app | *Assistance with opening inventory and supplemental inventory thereafter *Preferred vendor management and guidance on new product sourcing *Guidance on product valuations and market conditions *Marketing and advertising resources *Updates to our website - www.boomerangkids.ca - with selected content tailored to your store location |
| Operations | Number of Employees Required to Run: 3 - 5 | Once you become familiar with operating a profitable Waves Coffee House it is very possible to open a second or third location. It is quite common in the franchised coffee shop business to own a chain of successful locations. |
Expansion Plans |
||
| Plato's Closet | Boomerang Kids | |
| US Expansion | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming | |
| Canada Expansion | Nationwide, Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon Territory | |
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| Plato's Closet | |
| Boomerang Kids | |
| Franchise Fee | |
| Plato's Closet | |
| Boomerang Kids | |
| Royalty Fee | |
| Plato's Closet | 5% |
| Boomerang Kids | 5% |
| Advertising Fee | |
| Plato's Closet | $1K/yr. |
| Boomerang Kids | 1% |
| Year Founded | |
| Plato's Closet | 1998 |
| Boomerang Kids | 1994 |
| Year Franchised | |
| Plato's Closet | 1999 |
| Boomerang Kids | 2011 |
| Term Of Agreement | |
| Plato's Closet | 10 years |
| Boomerang Kids | |
| Renewal Fee | |
| Plato's Closet | 5000 |
| Boomerang Kids | |
Business Experience Requirements |
|
| Experience | |
| Plato's Closet | |
| Boomerang Kids | Applicants should have net worth exceeding $250,000, including at least $75,000 in cash or liquid assets (non-retirement stocks and bonds, etc), and another $150,000 or in assets to be used as collateral to obtain appropriate financing. Proof of financial networth and assets will be required as you move forward in our franchise process. A successful Boomerang Kids franchisee requires money, hard work and patience. It isn't for everybody. Having knowledge of children's products is very helpful, as is a great appreciation for kids and families. If you are motivated, organized, enjoy helping people and strive for excellence in customer service and can diligently follow our system, you are a good candidate for a Boomerang Kids franchise. |
Financing Options |
|
| Franchise Fees | |
| Plato's Closet | No |
| Boomerang Kids | No |
| Start-up Costs | |
| Plato's Closet | |
| Boomerang Kids | |
| Equipment | |
| Plato's Closet} | |
| Boomerang Kids | |
| Inventory | |
| Plato's Closet | |
| Boomerang Kids | |
| Receivables | |
| Plato's Closet | |
| Boomerang Kids | |
| Payroll | |
| Plato's Closet | |
| Boomerang Kids | |
Training & Support |
|
| Training | |
| Plato's Closet | On-The-Job Training: 30 hours Classroom Training: 48 hours |
| Boomerang Kids | Comprehensive training program using lecture-style and in-store training, including manuals for tagging and processing clothes, the computer systems, and store operations and customer service Instruction includes how to buy, consign, process and tag consignment items, sell, service, market, advertise, hire staff, buy, control and turn inventory, manage cash flow and more |
| Support | |
| Plato's Closet | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Boomerang Kids | *Development of a comprehensive, 3-year financial business plan with monthly data *Pro-forma scenario-based planning *Financing options, preparing for loan applications *Site evaluation, market analysis, demographic review *Negotiation and "offer to lease" assistance *Store design, floor-planning and merchandising strategies *In-store set-up *Back-office set-up assistance, including consignment and point of sale computer system, guidance on banking procedures and supplier management *Initial inventory selection *Grand Opening assistance *On-site store opening assistance |
| Marketing | |
| Plato's Closet | Co-op Advertising Ad Templates Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
| Boomerang Kids | *Assistance with opening inventory and supplemental inventory thereafter *Preferred vendor management and guidance on new product sourcing *Guidance on product valuations and market conditions *Marketing and advertising resources *Updates to our website - www.boomerangkids.ca - with selected content tailored to your store location |
| Operations | |
| Plato's Closet | Number of Employees Required to Run: 3 - 5 |
| Boomerang Kids | Once you become familiar with operating a profitable Waves Coffee House it is very possible to open a second or third location. It is quite common in the franchised coffee shop business to own a chain of successful locations. |
Expansion Plans |
|
| US Expansion | |
| Plato's Closet | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Boomerang Kids | |
| Canada Expansion | |
| Plato's Closet | Nationwide, Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon Territory |
| Boomerang Kids | |
| International Expansion | |
| Plato's Closet | |
| Boomerang Kids | |