For the fifth year in a row, Plato's Closet and Once Upon A Child, both resale stores, made Entrepreneur Magazine's Franchise 500 List. In the 36th annual rankings, these two retailers nabbed the No. 108 and No. 140 spots overall, proving that the trend in growth of the resale industry is only growing.
Another resale brand, Play It Again Sports, did not make the top 150, but ranked 287.
The resale retailers were rated high for exceptional performance in the following areas: financial strength and stability, growth rate, and size of the franchise system. All have ranked on the Franchise 500 consecutively for more than 10 years.
"It has been an honor to have such a steady presence on the Franchise 500 list," said Steve Murphy, president of franchising for Winmark Corporation, the nation's largest franchise retailer in the resale sector. "We really couldn't have obtained this continued success without the constant interest we see from prospective and existing franchisees wanting to grow our brands. We are particularly excited about the growth of one of our newest brands, Style Encore, which has very quickly become one of the fastest growing women's resale brands in North America since we launched it last year. And, we continue to be proud of our Music Go Round brand, the leader in new and used musical instruments and gear in the United States."
Winmark has more than 1,092 franchise locations. It runs five resale brands, including Plato's Closet, Once Upon A Child and Play It Again Sports, which is an 8.7 percent increase from last year.
Consignment shops selling previously worn apparel and accessories have become a growing trend among U.S. consumers. Online consignment shop Tradesy was recently awarded another $30 million investment, led by Kleiner Perkins. The funding comes just eight months after Kleiner led a group that gave $13 million to the startup.
Other retail marketplaces that offer goods on consignment include The RealReal, which raised more than $40 million to focus on lightly-used luxury apparel; Couture Within Reach, which launched a website last fall; Pose, which recently unveiled a new feature of its Web- and app-based digital photo sharing service; and eDrop-Off, which recently announced it will open its first retail store in Chicago.
-See this Franchise News press release
Tradesy lands another $30M investment
Couture Within Reach launches new website
Pose launches e-commerce
EDrop-Off opens retail store in Chicago
Amazon launches Prime Pantry