Clothes Mentor
Retail Clothing & Accessories RetailCompany Information
Address
13895 Industrial Park Blvd, Ste 100
Website
Tel
Email
Franchise Summary
Description
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.
Company Background
Clothes Mentor is a fashion resale company that buys and sells clothes to women who are 25 years or older. Clothes Mentors stores sell clothes in sizes ranging from 0-28, including petite, missy, plus size and maternity. The company offers individual franchises for the operation of its stores.
Franchise Opportunity
Do you find yourself shopping at the same stores over and over again, because they are your favorite brands? Clothes Mentor is a new twist on an old concept that will give you access to clothes from some of your favorite brands, but at prices up to 70% off. With our inventory changing daily, there's always something new for you. We're bringing back the thrill of finding great deals and hidden gems in clothing and accessories while making it fun and easy for customers like you. As a Clothes Mentor franchisee, we'll provide everything needed to run a successful business including training programs tailored specifically toward women looking for stylish clothing that fits their budget. You can start by purchasing one or more franchises today!
Corporate Structure
Clothes Mentor, LLC is a Delaware limited liability company formed on August 23, 2006. Their principal place of business is at 4350 Baker Road, Suite 350, Minnetonka, MN. They commenced offering franchises for Clothes Mentor® Stores in December 2006.
Investment and Franchisee Fees
The total investment necessary to begin operation of a Clothes Mentor® store is from $221,500 to $340,000. This includes $33,500 to $38,500 that must be paid to the franchisor or their affiliates. If you lease the same key items used in your Clothes Mentor® store, the total investment necessary to begin operation of a Clothes Mentor® store is from $173,000 to $290,000. This includes $23,000 to $28,000 that must be paid to the franchisor or their affiliates.
Royalties and Marketing Fees
Royalties : 4% of total Net Sales
Royalties : Currently $2,000 per year, although we may increase the NMF Fee to an amount not exceeding $3,000 per year on 60 days? notice to you.
Royalties : Minimum amount, when combined with cooperative advertising expenses, is 5% of total Net Sales.
Earnings Transparency
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry
Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet
Financial Performance of "Standard" Units
Average Revenue Per Unit
Compared vs. Clothing & Accessories Retail Industry$555,418 / unit
Franchise Type: Standard
Average Revenue During 2020
Average Gross Profit Per Unit
Compared vs. Clothing & Accessories Retail Industry$290,622 / unit
Franchise Type: Standard
Average Gross Profit During 2020
Management Team
| # | Name | Position |
|---|
Distribution of Clothes Mentor Franchisees
Clothes Mentor Franchise System Development in 2021
Historical Clothes Mentor System Growth
FAQ
How much investment do I need to start my own Clothes Mentor business?
Franchisees typically require at least $305,000 to $428,500 investment to get their Clothes Mentor business started
What are the initial franchise fees for Clothes Mentor?
Franchisees typically need to pay at least $25,000 in fees directly to Clothes Mentor in order to earn the right to launch their business
How much money can I make with a Clothes Mentor franchise? What are
the average revenues for a typical Clothes Mentor business?
We estimate that the average revenue of an individual
Clothes Mentor unit is approximately
$555,418. We based this on Item 19 in franchise disclosure
document
How long do I need to commit to running a Clothes Mentor unit? What
is my contractual commitment?
Clothes Mentor franchisees are typically required to sign up to a
10 year contract initially. The renewal length
is 10 years. You can of course exit early but
don’t expect to get any refund!
Accessibility
The Franchisor's investment costs ranges from
$256,290 to $617,865
which is
Much Higher
than the $0 to $0 average in the Clothing & Accessories Retail industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc
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