Consumer obsession with thrifted finds and green living is generating a booming industry that is both socially and financially rewarding
The decision to open an Uptown Cheapskate resale clothing franchise is a savvy investment choice in a booming industry. Uptown Cheapskate offers something other resale stores don’t — an enjoyable elevated shopping experience that helps consumers save money and the planet.
Uptown Cheapskate is a great business investment for a multitude of reasons, from a consumer standpoint it meets a demand for thrifting and green living, and from an entrepreneur’s standpoint, it is a low-cost business to launch that is both socially and financially rewarding.
Franchise Chatter recently chose our upscale resale clothing franchise for its 10 Best Apparel and Accessories Retail Franchise opportunities of 2021. While such industry accolades are amazing, the proof of our business model lies in the fact that many of our owners choose to invest in multiple locations.
Take, for example, Atlanta area Uptown Cheapskate franchisee, Brent Brock, who is opening his fifth Uptown Cheapskate store in Dunwoody.
“I believe the last couple of years we have only scratched the surface of the resale market,” Brock says. “Resale has now become so popular that everyone is trying to figure out how to successfully do it. There are plenty of online stores popping up trying to gain their share of the market and major companies are even trying their hand at resale. However, none of these brands compare to Uptown Cheapskate. Everything that you need to excel in this industry, we already have in place. This includes a low cost of entry and a proven business model that is easily scalable.”
Fashion trends come and go, but the resale industry craze is here to stay. The Boston Consulting Group has said that the global fashion resale market is likely to post a compound annual growth rate of between 15 and 20 percent over the next five years.
Uptown Cheapskate is a potentially lucrative business opportunity that makes a difference
Since our founding in 2008, Uptown Cheapskate has provided entrepreneurs with a potentially lucrative business investment that is also backed by world-class support. How much you make as a franchise owner depends on a variety of factors, from geographic location to access to inventory. According to our 2020 Franchise Disclosure Document Item 19, our top 25% of stores in sales volume boasted average sales of $1,350,933 and an average net income of $304,781 in 2019.
The second 25% saw average sales of $962,824 and an average net income of $158,988.
When you open an Uptown Cheapskate you own a business that promotes eco-friendly practices through repurposed clothing. Recycling unwanted clothing gives potentially discarded items new life instead of being added to a landfill. Americans on average dispose of an estimated 70 to 80 pounds of clothing every year with almost 85 percent of our clothing going into landfills. Owning an Uptown Cheapskate is also satisfying because you know you are helping consumers save money.
“There’s a high cost for shopping new and consumers are waking up to the fact that fast-fashion brands are big polluters,” says Chelsea Sloan Carrol, Co-Founder, and President. “The resale industry is growing faster than anyone expected, and our business model is going to be more relevant as people are going to need to save money on clothing, as well as make money from selling their clothes to us. The service that we provide to our customers is invaluable, and our strong unit economics reflects that. We’re looking forward to strong growth in 2021.”