Uptown Cheapskate stands out as a low-cost franchise opportunity in the booming resale industry
The resale industry is booming, with projections of growth 11 times faster than the overall retail industry – and this is terrific news for Uptown Cheapskate, the iconic resale clothing franchise.
The resale sector grew during the pandemic, and is projected to double in the next 5 years to $77 billion, according to the 2021 Resale Report in June by ThredUp. ThredUp is one of the largest online resale platforms for women’s and kids’ apparel, shoes, and accessories. The comprehensive study is conducted by third-party retail analytics firm GlobalData and serves as the most robust measure of the U.S. secondhand market. The ninth annual study surveyed 3,500 consumers.
“It’s a very exciting time for Uptown Cheapskate,” says Dave Martell, Director of Franchise Development with Uptown Cheapskate. “We’re growing rapidly across the nation, and there’s a ton of opportunity to expand. We want to help you reach your goals, whether that’s one store that becomes a career you can be passionate about every day, or creating an empire that’s a real income generator. The majority of our franchisees didn’t have retail experience before they joined our brand, and we have the support to help you master this business even if you don’t. We want you to love working with people and have an entrepreneurial spirit, and we can fill in the rest. This is an outstanding business opportunity that really makes sense right now.”
Uptown Cheapskate stands apart from the competition as an elevated shopping experience that is nothing like the stereotypical thrift store environment characterized by dingy lighting, no-frills dressing rooms and disheveled shelves and racks. Our business model has garnered recognition by top franchising rankings such as the Entrepreneur Franchise 500, which is widely regarded as the most prestigious ranking in franchising.
Uptown Cheapskate is rapidly expanding as more entrepreneurs discover what an affordable investment in a rewarding industry trending up post-Covid
When you open an Uptown Cheapskate in your community you can take pride in owning a retail business that promotes high-quality, affordable and eco-friendly shopping that helps in some small way reduce wasteful world of fast fashion. Many people may be shocked to learn that 84 percent of clothing ends up in landfills or incinerators (as cited in this Popular Science article). In New York City alone, more than 400 million pounds of clothes are wasted each year!
Secondhand shopping was already becoming more popular pre-pandemic and consumers’ buying habits have shifted even more favorably toward sustainable shopping post-pandemic, according to the 2021 Resale Report. The resale sector grew during the pandemic and is projected to accelerate in the recovery, predicted to grow 11 times faster than retail clothing over the next 5 years.In 2020, 33 million consumers bought secondhand apparel for the first time, and 76% of those first-time buyers plan to increase their spend on secondhand in the next 5 years. These are all trends that will be driving the expansion of Uptown Cheapskate.
“Shopping resale has been adopted into society as more people become conscious about how they spend their money, as well as its impact on the environment,” Martell says. “People can dress fashionably at a fraction of the cost of purchasing these items at regular retail prices and they can also help recycle these items and keep them out of landfills. The textile industry is the second-largest polluter in our society. People are starting to catch on, especially the younger generations, the millennials, the Gen Zers, they’re all about it. Uptown Cheapskate is building out an upscale resale store experience where more people as they look to dip their toes into shopping second hand are more likely to come in and feel comfortable shopping.”