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General

Industry

-

Category

Retail Products and Services

SBA Identifier

S0393

Year of Founding

2006

Fees

Marketing Fee

5%

Royalty Fee

4%

Franchise Fee

$25,000-$25,000

Investment Range

$250K-$364K

Location units

Total U.S. Locations

132

U.S. Franchised Units

132

U.S. Corporate Units

0

Headquarters (City)

MN

Other

Item 19 - Franchise Financials

-

Financing Availability

yes

Started Offering Franchises

2006

Issuance of FDD Data

04/20/2021

What to know about Clothes Mentor franchise?

Clothes Mentor, LLC offers individual franchises for the operation of Clothes Mentor® stores ("Stores"), which buy and sell gently used and new women's clothing and accessories.

Clothes Mentor is based in Plymouth, MN. Scroll down to learn more!

How Much Does a Clothes Mentor Franchise Cost?

Are you wondering how much is a Clothes Mentor franchise? Before starting a Clothes Mentor franchise, it is important to know the Clothes Mentor franchise fee ($25,000) working capital and other costs required to start the business.

The minimum investment amount required to open a Clothes Mentor franchise is $250,000 and can go all the way up to $363,500. Keep in mind, you should also allocate additional funds to live off of while the Clothes Mentor business ramps up. This can take as little as 6 months to over 2 years depending on the franchise opportunity. You should speak to at least 5 Clothes Mentor franchisees to understand the true cost of opening the franchise and how long it takes to: 1) start a Clothes Mentor business 2) pass break even 3) hit significant income.

After (and if) you pass the point of earning significant income from your Clothes Mentor franchise, there may be enough margin to hire a day-to-day manager and work less hours in the business.

Franchise Net Unit Growth

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Industry Report Request

Download our guide to compare Clothes Mentor. Hotels to the Cleaning and Maintenance, Outdoor Maintenance industry.

Franchise Data

Year Start of year Units Opened Units Closed Total End of Year
2016 136 12 5 143
2017 143 9 8 144
2018 144 2 11 135
2019 135 5 2 138
2020 138 2 8 132

Additional Details

How much does a Clothes Mentor franchise owner make?

Clothes Mentor franchise earnings and revenue can vary significantly from one franchisee to another. The Clothes Mentor franchise owner profits can be influenced by labor costs, lease rates, hours worked as well as other factors.

Clothes Mentor discloses financials at the unit level. In other words, they show how much Clothes Mentor franchisees made in the past. Through analyzing this information available in the metrics tab, it can serve as a good basis to further explore the opportunity or not.

At Vetted Biz, we advise you to speak with 5 to 10 franchisees to understand how much money they are making from the Clothes Mentor franchise. Roughly 60% of franchises disclose financials and it makes the process easier when filtering potential franchise opportunities like Clothes Mentor. Don’t just speak to existing franchisees, call franchisees who have recently left the system and try to find out how much those Clothes Mentor owners were making.

Visit the Clothes Mentor metrics tab, to explore the financials for this business.

What is the Clothes Mentor Franchise Fee?

Owning a Clothes Mentor franchise requires a 4% royalty fee and a 5% marketing fee. These two expenses represent the main ongoing costs you can expect to pay the franchisor throughout the franchise relationship.

Keep in mind, there is also an initial Clothes Mentor franchise fee of $25,000 that is included in the initial investment amount of $250,000 to $363,500. Depending on the franchise agreement you sign, you might have to pay the full franchise fee again if you decide to extend the Clothes Mentor franchise relationship. Consult with a licensed franchise attorney to understand exactly what you receive for paying the Clothes Mentor franchise fee of $25,000.

Visit the Clothes Mentor metrics tab to explore how the franchise, royalty and marketing fees compare to other Retail Products and Services franchises. You can also compare these fees for 2,000+ franchises currently offered in the U.S.

When was Clothes Mentor founded?

Clothes Mentor was founded 16 years ago in 2006. Clothes Mentor started offering franchises in 2006. At Vetted Biz, we recommend franchises have 3-5 corporate locations and 5+ years of experience before offering a franchise. There needs to be proof that the business model works and is replicable before offering the franchise to other!

How many Clothes Mentor locations are in the U.S.?

As of Issuance of 2021, there were 132 Clothes Mentor locations owned and operated by franchisees across the U.S. There are also 0 corporate locations owned and operated by Clothes Mentor. Most Retail Products and Services franchises like Clothes Mentor have more franchised locations than corporate locations.

How many Clothes Mentor franchises opened over the past few years?

Over the prior 3 years we have data for, Clothes Mentor has opened 9 outlets throughout the U.S.

Visit the Clothes Mentor metrics tab to explore how the openings compare to other Retail Products and Services franchises.

How many Clothes Mentor franchises closed over the past few years?

Over the prior 3 years we have data for, Clothes Mentor has closed 21 outlets throughout the U.S.

Visit the Clothes Mentor metrics tab to explore how the closures compare to other Retail Products and Servicesfranchises.

Is Clothes Mentor growing? Are they opening more locations than they are closing?

The net unit growth rate for Clothes Mentor over the past 3 years is -8%. Over the last year we have data for, Clothes Mentor had a net unit growth rate of -4%.

Without a comparison, this number doesn’t mean much. Compare how the Clothes Mentor growth rate compares to 2,000+ other franchises and Retail Products and Services franchises like Clothes Mentor. More info in the Clothes Mentor metrics tab.

Is Clothes Mentor franchise eligible for an SBA Loan?

Clothes Mentor is eligible for SBA loans including the 7(a) loan. To find out more about the SBA loan program for franchising click here.

Clothes Mentor franchise was assigned the SBA Franchise ID of S0393 on 10/1/2017. This DOES NOT mean the SBA endorses this franchise. The SBA Franchise Directory will only include business models like Clothes Mentor that are reviewed and found eligible under SBA's affiliation rules and other eligibility criteria.

Is Clothes Mentor a franchise in the United States?

According to the SBA, Clothes Mentor meets the Federal Trade Commission (FTC) definition of a franchise. The FTC Franchise Rule requires franchisors to provide all potential franchisees with a disclosure document (FDD) containing 23 items about the franchise, its officers, and other franchisees. Be sure that Clothes Mentor provides you with an FDD if you are in discussion to buy a Clothes Mentor.

What is the Clothes Mentor Franchise for Sale Rate?

The Clothes Mentor systemwide health and franchisee satisfaction can be measured by the Clothes Mentor franchise for sale rate. The franchise for sale rate is calculated by the percentage of units transferred to new franchisees and reacquired by franchisor.

The franchise for sale rate for Clothes Mentor over the past 3 years is 11%. Over the last year we have data for, Clothes Mentor had a franchise for sale rate of 5%.

Without a comparison, this number doesn’t mean much. Compare how the Clothes Mentor franchise for sale rate compares to 2,000+ other franchises and Retail Products and Services franchises like Clothes Mentor. More info in the Clothes Mentor metrics tab.

What is the Clothes Mentor Franchise Failure Rate?

Clothes Mentor franchise failures comprise franchise terminations, franchise non-renewals, and franchises that ceased operations for other reasons. The failure rate is one of the most important franchise metrics to consider when investing in a franchise!

Clothes Mentor failure rate over the past 3 years is 16%. Over the last year we have data for, Clothes Mentor had a franchise failure rate of 6%

Without a comparison, this number doesn’t mean much. Compare how the Clothes Mentor failure rate compares to 2,000+ other franchises and Retail Products and Services franchises like Clothes Mentor. More info in the Clothes Mentor metrics tab.

How can I find out more details on Clothes Mentor franchise?

Visit the Clothes Mentor metrics tab to explore franchise profitability, industry comparables and more. Become a Vetted Member today for exclusive access on this franchise opportunity!

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General

Industry

-

Category

Retail Products and Services

SBA Identifier

S0393

Year of Founding

2006

Fees

Marketing Fee

5%

Royalty Fee

4%

Franchise Fee

$25,000-$25,000

Investment Range

$250K-$364K

Location units

Total U.S. Locations

132

U.S. Franchised Units

132

U.S. Corporate Units

0

Headquarters (City)

MN

Other

Item 19 - Franchise Financials

-

Financing Availability

yes

Started Offering Franchises

2006

Issuance of FDD Data

04/20/2021

Franchise Fee Midpoint

The percentage change of total franchise units from one year to the next

 

1 year

3 years

Clothes Mentor

2%

-3%

Industry median

All franchises median

Unlock premium content

Franchise Disclosure Document

Download Latest FDD (2021)

Net Unit Growth (most recent year)

Net Unit Growth (3 years)

Failure Rate

Franchise failures comprise franchise terminations, franchise non-renewals, and franchises that ceased operations for other reasons.

 

1 year

3 years

Clothes Mentor

1%

16%

Industry median

All franchises median

Unlock premium content

Franchise for Sale Rate

The percentage of units transferred to new franchisees and reacquired by franchisor.

 

1 year

3 years

Clothes Mentor

1%

11%

Industry median

All franchises median

Unlock premium content

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Investment Midpoint

The average of the low and high range of the investment amounts calculated from the most recently available Franchise Disclosure Document

Clothes Mentor

$306,750

Industry median

All franchises median

Unlock premium content

Royalty Fee

The median royalty fee from the Franchise Disclosure Document

Clothes Mentor

4%

Industry median

All franchises median

Unlock premium content

Franchise Fee Midpoint

The percentage change of total franchise units from one year to the next

 

1 year

3 years

Clothes Mentor

2%

-3%

Industry median

All franchises median

Unlock premium content

Item 19 – Financial Performance Representations

Historical financial performance representations

Unlock premium content

Franchise Financials

Franchisor company financial information and financial performance representations, if disclosed by the franchisor.

Unlock premium content

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Business details

Company name

-

Business email

franchise@clothesmentor.com

Mailing address

13801 Industrial Park Blvd

State headquarters

Minnesota

Key leadership

Clothes Mentor

Phone

+1 (000) 000-00-00

City

Plymouth

Zip code

55441

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