Spring Cleaning for Cash

Jade Moore with Clothes Mentor in Little Rock discusses how to unload those underutilized garments for some cash!

Clothes Mentor Named to Entrepreneur’s Franchise 500 2018 List

 Top-performing women’s resale clothing franchise earns their spot on Entrepreneur Magazine’s 39th annual ranking

(Minnetonka, Minn.) – Clothes Mentor, a national women’s resale clothing franchise headquartered in Minneapolis, Minnesota, is celebrating their inclusion in Entrepreneur’s Franchise 500® 2018 List. Considered one of the most comprehensive rankings in the franchise industry, Entrepreneur’s Franchise 500 uses a proprietary formula to rank the best franchise companies in the world.

“No matter where you fall on the list, making it into Entrepreneur’s Franchise 500 is a huge honor,” NTY Franchise Company COO Chad Olson said. “Clothes Mentor has been NTY Franchise Company’s most recognizable resale clothing franchise for more than a decade and we are proud of the growth and prosperity it’s had.”

Clothes Mentor was NTY Franchise Company’s first brand, launched when the company purchased the franchising rights in 2007. The resale designer clothing franchise  has seen tremendous growth over the last three years, opening 32 new units around the United States since 2015. Clothes Mentor specializes in buying and selling like-new designer clothing, shoes and accessories for women.

Resale franchises are enjoying a $17 billion boom that began during the great recession and continues today as consumers flock to stores like Clothes Mentor to buy and sell their gently used women’s fashion. Since 2017, Clothes Mentor has successfully recycled more than 42 million items of mall brand and designer clothing and paid women more than $180 million for their gently-used items.

CEO Ron Olson, the mastermind behind resale franchise brands like Play It Again Sports and Plato’s Closet, envisioned a whole new concept for women’s resale clothing franchises when he purchased the only three Clothes Mentor locations in 2007. He despised the bare-bones feel of resale stores and the “musty attic” smell common in them. Working with his son, Chad, they set out to rebrand Clothes Mentor as an upscale boutique featuring designer clothing and accessories at resale prices. They added bright colors and signage to the store design, made sure stores were well-lit and featured state-of-the-art technology. They paid special attention to the ambient scents in the store. They stocked their shelves with current fashion and paid cash on the spot to local women for their gently-used items.

The idea was a hit. Women rushed into Clothes Mentor stores to sell their gently-used designer clothing and came away with much-needed cash. They refreshed their closets with high-fashion brands for pennies on the dollar. By 2014, Ron and Chad Olson had grown the Clothes Mentor franchise to 100 stores. Today, there are more than 140 Clothes Mentor stores in 42 states. Plans call for an additional 50 locations to be opened in the next three years.

To learn more about Entrepreneur’s Franchise 500 2018 List, click here.

About Clothes Mentor

Clothes Mentor started with two existing locations in 2006 and began expanding the brand the same year. As of January 2018, the company has 145 stores in 42 states with many more in development. Clothes Mentor is a resale-based women’s designer fashion brand known as being cutting-edge in both high-end designer fashion and technology. The company buys and sells like-new apparel, shoes, and accessories for all women, Sizes 0-26, petites, and maternity. The inventory comes from the same customers who shop in the store, and sellers are offered cash on-the-spot or credit toward a new purchase. With stores throughout the United States, each store serves its local community in both buying and selling gently-used, designer clothing, shoes, boots, handbags, jewelry, and other accessories.

About NTY Franchise Company

Founded in 2006 by Ron Olson, NTY Franchise Company is the gold standard in resale franchising companies. NTY franchises five brands, all with a different focus: Clothes Mentor, Children’s Orchard, Device Pitstop, New Uses, and NTY Clothing Exchange. The brands are all resale-based and cover women’s designer fashions, children’s apparel and accessories, furniture and household goods, electronic sales and repair, and clothing for teens and young adults. All are great business opportunities with cutting-edge technology, unmatched support, and lucrative resale franchises. NTY Franchise Company has helped individuals to establish resale stores throughout the United States in many communities, and it has territories available to develop nationwide.

Like Mother, Like Daughter at Children’s Orchard Manhattan Beach

It’s all about family at Children’s Orchard in Manhattan Beach, CA. Click here to read more about the family-owned franchise in The Beach Report.

Children's Orchard Manhattan Beach

Text and photo from The Beach Reporter

“I grew up in retail; my dad was in retail in Philadelphia,” Mintz explained. “So I was familiar with the business, although I come from a marketing background, and my daughters also came from public relations and marketing.”

That marketing background has paid off in terms of building their business, and so does Mintz’s daughter Cindy’s FIDM fashion degree.

“She decorates the store, and she’s great at putting outfits together for customers. That’s her favorite thing to do,” Mintz said.

Children’s Orchard has a selection that pleases both shoppers and sellers.

“I think because of where we are located in Manhattan Beach, we get wonderful brands, and we are able to price them very reasonably for shoppers. It’s a good experience for both our shoppers and the people who sell to us, Mintz said. “Sellers can benefit even further with the 30 percent or more in store credit we offer them, so that they can shop here very reasonably. The whole idea is to take advantage of trading in an item that isn’t needed and buy something that is. It seems to work for everybody.”

 

The shop frequently offers unique, one of a kind items such as a recent sale: a child’s BBQ replete with a grille and skewers for little ones to use.

Click here to check out more from The Beach Reporter.

Interview with COO Chad Olson Featured in USA Weekly

If you could go back in time, what business advice would you tell your younger self? Chad Olson, COO of NTY Franchise Company, shares what he has learned and more in this excerpt from USA Weekly.

Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.

Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.

Below is our interview with Chad Olson, COO at NTY Franchise Company:

What does your company do?

NTY Franchise Company Founded in 2006 by Ron Olson, NTY Franchise Company is the gold standard in resale franchising companies. NTY franchises five brands, all with a different focus: Clothes Mentor, Children’s Orchard, Device Pitstop, New Uses, and NTY Clothing Exchange. The brands are all resale-based and cover women’s designer fashions, children’s apparel and accessories, furniture and household goods, electronic sales and repair, and clothing for teens and young adults. All are great business opportunities with cutting-edge technology, unmatched support, and lucrative resale franchises. NTY Franchise Company has helped individuals to establish resale stores throughout the United States in many communities, and it has territories available to develop nationwide.

What is your role? What do you enjoy most about your role?

I am the COO of NTY Franchise Company. What I enjoy most about my role is working through the different challenges and opportunities that arise every day. There is constant problem solving and coaching opportunities and I am fortunate enough to hopefully make a difference. Our franchisees have invested a lot of money to open their business, achieve their goals of being their own boss and generate success. The thrill for me is having the opportunity to help them realize these goals.

 

Click here to read the full article on usaweekly.com.