Press Room
Plato's Closet: Clothing franchise that's a teen fave opens in Geneva - 8/4/10
The Genevea Sun - August 4, 2010
Many teenagers and 20-somethings probably already know about Plato's Closest, a national franchise with 280 stores that buy and sell gently used clothing and fashion accessories.
"One of the newest franchisees is Elsa Reinke, who opened her Plato's Closet in Geneva in May to buy inventory. On July 15, the store had a grand opening to both buy and sell merchandise.
"We buy at value and sell at value," said Reinke. "A purse we sell for $10, we buy for $3 or $4. We pay cash on the spot, no appointment necessary. See that young woman sitting in the chair waiting. She brought in a bag of clothing to sell. In a few minutes, we'll have it sorted and pay her cash.
Our goal is to have the WOW! factor. People who just bought a pair of jeans for $120 come in here and find they could have bought them for $40. We have a bell with a pull cord by the door with a sign that sign that says, 'If you were wowed, ring it loud.' We hear it rung a lot. We're everybody's new favorite store. We have 50-year-old teens shopping here. If we weren't a great place to shop, teens would not come here. They can find all brands in one store. All seasons all year. Parents love it. They bring in their kids' clothes and give them the cash to re-buy something they want. No hassles."
Reinke ran me through her store's buying process of as if I were selling her the shirt off my back. It was simple, quick and nicely detailed. Reinke said she fine-tuned the procedure developed by the franchisor.
"We were always hunting for pens, so now every pen has a big plastic flower on it. We labeled the boxes of clothing that we are buying from customers with their initials in large easy-to-read letters. Quick, fast. We don't buy anything with holes or stains. It's gotta be clean, ready to wear, in a box or bag. It doesn't have to be name brand. We go for style."
Plato's Closet does sell a lot of name brand merchandise. "We have a Hollister wall, Abercrombie and Fitch, American Eagle. So if people come in wanting those brands, they can go right there."
In residential real estate for 31 years, Reinke traded herself in when she bought the Plato's Closet franchise. She was most recently a vice president for a local builder when she got laid off. She decided she did not want another executive job. "I traded in my suits and high heels for jeans and T's. I love it."
