Grand Opening Promotion
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Prior to Opening

Uptown Cheapskate

Table of Content
1. Franchise Snapshot
2. Franchise Overview
3. Performance and Metrics
4. Our Take
5. Additional Resources

1. Franchise Snapshot

Franchise Status
Active
Basic Information
Industry
Retail
Category
Resales
Investment Range
$328,002 to $596,502
Total US Locations
143
Franchise Units
129
Founding Year
2009
Started Offering Franchises
2009
Management Capacity
Owner Operator
Job Count
19
Prior E2 Investors?
Yes
Prior Visa Franchise Clients?
Yes
Royalty Fee
5%
Marketing Fee
0.5%
Franchise Fee
$25,000
Headquarters (City, State)
North Salt Lake, UT
Square Footage
4000 - 4000
Retail Location?
Yes
Agreement Term Length
10 Years
Video

In these videos you will learn about the company firsthand. And they will also tell you in a short form about the financing of the enterprise.

*Information presented in these videos may change over time and may not reflect the most current franchise offering. Prospective franchisees should review the latest Franchise Disclosure Document (FDD) and consult directly with the franchisor for updated information.

2. Franchise Overview

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Overview

Uptown Cheapskate is revolutionizing the $39 billion resale clothing industry. With more than 110 locations nationwide and over 30 additional stores under development, Uptown Cheapskate is the fastest-growing clothing resale brand in the United States. By providing unbeatable value and assortment, a beautifully designed boutique shopping experience, and a strong commitment to environmental sustainability, Uptown Cheapskate is poised to thrive for years to come. Uptown Cheapskate is the antidote to the horrible practices of the fast-fashion economy. Their franchise owners buy gently used clothing from their customers, and give those items a second life by selling them at a significantly reduced price. The quality of what they accept is highly rigid and automatized through their proprietary software to ensure quality. Their customers love the savings – and they also love that they’re saving the environment at the same time.

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Management team / founders

As a franchise opportunity, Uptown Cheapskate has no equal. Founded by the visionary leadership team who made Kid to Kid a national resale clothing franchise with more than 100 locations throughout the country, Uptown Cheapskate knows exactly how to empower entrepreneurs to own thriving businesses that make a difference. “Uptown Cheapskate exists to bring affordable styles to the masses,” says Scott Sloan, Uptown Cheapskate Co-Founder. “We’re a mainstream alternative to resale. We appeal to a wider customer base than a lot of our competitors not just because of our value and assortment, but also because we focus on an upscale experience that doesn’t feel like resale. We have been rapidly growing since our inception in 2008, and are poised to add hundreds of locations in the years to come.

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Focus of owner for daily business operations

As a Uptown Cheapskate franchisee, the main facets of the business entail: 1. Establishing and overseeing in-store operations; 2. Promoting local marketing efforts within the community; 3. Review of financials; 4. Hiring and managing in-store employees

3. Performance & Metrics

Franchisor Fees | Item 6
Franchise Value
Industry Median
All Franchises Median
Royalty Fee
5%
5%
6%
Marketing Fee
0.5%
1.5%
2%
Franchise Fee
$25,000
Total Investment Cost | Item 7
Type of Expenditure
Low Amount
High Amount
When due
Franchise Fee
$25,000
At signing of Franchise Agreement
Travel and Lodging Expenses while Training
$4,500
$22,500
During corporate, in-store, and internship training
Real Estate Deposit
$4,500
$22,500
At lease signing
Real Estate Improvements
$35,000
$150,000
As incurred
Exterior Signs and Graphics
$13,500
$18,500
Prior to Opening
Interior Signs
$2,000
$5,000
Prior to Opening
Trade Fixtures
$67,500
$94,500
Prior to Opening
Computers, Scanners, Cash Drawers, Printers, Credit Card Machines, Routers, Cables, I-Pads, etc.
$18,502
Upon signing of lease
BaseCamp Software Suite
$15,000
Upon signing of lease
Security Camera System
$2,000
$5,000
Prior to Opening
Grand Opening Promotion
$20,000
Prior to Opening
Opening Inventory
$70,000
$90,000
Prior to Opening
Incorporation Documents
$500
$1,000
Prior to Opening
Loan Fees
$0
$27,000
At application, at loan closing
Licenses, Permits, Utility Deposits
$1,000
$2,500
As incurred
Supplies, Hangers, Misc. Expenses
$12,000
$29,000
Prior to Opening
Additional Funds [initial period] 3 months
$40,000
$67,500
As incurred
TOTAL
$328,002
$596,502
Outlets and Franchisee Information | Item 20
Outlet type
Year
Outlets at the start of the year
Outlets at the end of the year
Net change
N/A
2022
83
99
+16
Franchised
2023
99
116
+17
N/A
2024
116
129
+13
N/A
2022
13
14
+1
Company-Owned
2023
14
13
-1
N/A
2024
13
14
+1
N/A
2022
96
113
+17
Total Outlets
2023
113
129
+16
N/A
2024
129
143
+14
Net Unit Growth (Recent year)
Net Unit Growth (Recent 3 years)
Franchise Health Metrics
Growth Rate
1 year / 3 years
Failure Rate
1 year / 3 years
Franchise for Sale Rate
1 year / 3 years
Uptown Cheapskate
Industry median
Franchise Health Metrics
Franchise Historical Loan Metrics
10 Year Cumulative Charge Offs by $ of Loans
10 Year Cumulative Defaults
3 Year Predicted Default Rate
*Please note the information provided here is sourced from Lumos. We do not guarantee its accuracy or completeness. For verification, please refer to Lumos directly.
Item 19 – Financial Performance Representations
Historical financial performance representations
Franchise Financials
Franchisor company financial information, if disclosed by the franchisor.
Litigation & Bankruptcies
% of Franchisees Undergoing Litigation
0,77%
% of Franchisees with Completed Litigation
0,77%
Number of Bankruptcies Disclosed
0
*The litigation information displayed has been reviewed by our Product Development team. Franchises featured on this platform have been thoroughly assessed. However, Visa Franchise strongly recommends consulting with your own legal counsel for further guidance.

4. Our Take

Resale clothing is gaining popularity, particularly among the sought-after younger consumer base of millennials and Gen Z, due to the detrimental environmental impact of buying new clothes. If this concept captivates your interest, don't miss out on this chance!