SBA 7(a)/504 FOIA · FY1991–PRESENT · TENNESSEE
Plato'S Closet franchise in Tennessee: what the public record shows
Franchisees of Plato'S Closet in Tennessee have taken 9 SBA loans since 1991 (average $365,688)— too few resolved loans in-state to publish a local failure rate (we require a resolved cohort, never extrapolate), so the brand's national rate of 2.1% is the better guide.
Loans in TN
9
Resolved
5
Local charge-off
thin
National charge-off
2.1%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = TN. Charge-off rate = charged-off ÷ (charged-off + paid-in-full); open loans excluded. A local rate is published only when the resolved cohort clears our floor of 30 loans.
| System | Loans in TN | Local charge-off | Units in TN |
|---|---|---|---|
| Subway | 49 | 2.4% | 524 |
| DAIRY QUEEN | 35 | 7.7% | — |
| Firehouse Subs | 18 | thin | 48 |
| Matco Tools | 18 | 68.8% | — |
| HOTWORX | 14 | thin | 26 |
| Sport Clips | 13 | 0.0% | 46 |
| MASSAGE ENVY | 9 | thin | 23 |
| Alphagraphics, Printshops of the Futu | 8 | thin | — |
| EDIBLE ARRANGEMENTS | 8 | thin | 7 |
| RODEWAY INN | 8 | thin | 15 |
| JERSEY MIKE'S | 7 | thin | 69 |
| PETLAND | 7 | thin | 3 |
Same sector, same state, same public records — how Plato'S Closet compares to the systems a buyer in Tennessee would actually be choosing between. Local rates under 10 resolved loans are marked thin, not hidden.
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing Plato'S Closet's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →