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Clothes for thought
MARIA JARAL/ MCKINNEY COURIER-GAZETTE - Co-owner of Plato's Closet Julii Baack is happy to help her customers at the McKinney location store.
ECONOMY: "Business is still booming," Julii said.
By Jim Kilpatrick, McKinney Courier-Gazette
When the housing market took its plunge early in 2008 Julii and Ryan Baack of McKinney suddenly found themselves without an income.
"We had to do something and we really wanted to be business owners," Julii said. "We didn't want to be in a situation where we wouldn't be given an option of creating your own destiny."
They now own Plato's Closet in McKinney.
The Baack's actually discovered Plato's Closet when Julii's niece Katie Vail from Oklahoma was visiting and wanted to do some shopping and didn't want to pay mall prices.
"I was blown away by what the store offered, and the prices and the number of people in the store," she said.
Julii contacted the franchise office for financial information and set the wheels going to own their own store.
"I knew this would be a good idea," he said. "I was familiar with it because I have younger sisters."
Within a month the Baack's signed a franchise agreement and began purchasing gently used clothes in the McKinney area on Sept. 6.
"You have to have an inventory before you can open your store," she said. "You have to buy for a month before you start selling."
She said the store is different from other fashion stores.
"Unlike traditional retailers, we don't try to create new fashion trends, we respond to actual trends in a timely and value-oriented manner," she said.
The Baack's philosophy was a simple one when they opened their store.
"Kids still want to look fashionable, but the parents don't have that kind of money with gas prices and that kind of thing," she said. "We feel that this was a recession proof business."
Plato's Closet is not a consignment store.
"We buy gently used apparel from the community including girls, boys and moms," Julii said. "They bring in clothes 18 months or newer with name brands, teen styles and sell it to us and get cash on the spot."
The fashion name brands are offered at 70 percent off retail in the store.
"I don't know how many times a day I hear people say 'you guys are going to do well here and we're so happy you are in McKinney,'" he said.
The grand opening of the store was on Sept. 9 at 3180 W. Eldorado Parkway.
"We had a huge opening day," she said. "It has surpassed our goals."
"It has kind of mellowed off to where it should stay," Julii said. "But business is still booming."
She added that they are always looking for new items.
"We buy clothing all day long," Julii said. "If you don't buy you don't have inventory to sell."
Plato's Closet leads the nation in buying and selling name brand, gently used apparel and accessories for teens and young adults, according to their Web site.
Contact Jim Kilpatrick at jkilpatrick@acnpapers.com.
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