Fast-growing resale franchise is honored as a best-bet investment
Uptown Cheapskate, an upscale resale franchise that buys and sells stylish clothing for young adults, has been named a best buy in franchising by Franchise Times as part of its annual Zor Awards program designed to recognize brands in 10 of the industry’s most exciting categories.
Uptown Cheapskate won the Express Yourself category and was ranked among nine other finalists. CEO Scott Sloan commented, “This award serves as confirmation that brick and mortar can thrive in niche categories that serve customers in unexpected ways. Our customers love being able to trade their stylish clothing for cash and find gently-used styles at a fraction of retail prices.”
Designed to answer the question, “What’s the best franchise to buy?”, the Zor Awards is an industry-exclusive award program appearing in the March 2018 issue of Franchise Times. With a goal of introducing prospective franchisees to a few favored categories based on their individual preferences and style, the Zor Awards aids individuals exploring franchising by showing them how to make a selection using an astute business mindset.
Finalists were drawn from the Franchise Times Top 200+ database, which is a 20-year-old research tool covering more than 650 U.S.-based franchise systems.
Uptown Cheapskate was ranked based on current expansion trends as well as six key financial metrics pulled from the franchise disclosure document, with a focus on profitability for the franchisee. That process also included an editorial examination of management teams, product or service offerings, unit openings and closings, recent litigation and financial backing of the brand.
As the final pillar, Franchise Times hosted online voting from mid-December to mid-January to reflect industry enthusiasm. This third metric received thousands of reader votes and grassroots support.
To read more about the experience of Justin Crump, Uptown Cheapskate franchisee since 2013, visit http://www.franchisetimes.com/March-2018/Trying-on-10-franchises-for-size-in-our-exclusive-Zor-Awards-project/Express-Yourself/.