I bought a poorly managed franchise - Style Encore - a sister brand to Plato's Closet. It pays on the spot (not consignment) for great condition, previously owned clothing+handbags and resells for a 60% markup. In 2008, the company set records as demand skyrocketed as women sought value while still desiring great styles. Supply of items customers were selling was also high (result: biz could be choosy with buys and turn items faster; also biz needed more cash on hand to make purchases). I'm concerned about 'stay at home' culture's demand on clothing, even the most-value driven option, which is Style Encore.

(some of) my numbers: I've already paid 25k for the franchise fee. I paid 7.5k for 150k worth of assets/buildouts. The site has been closed since Dec 2019 and they have kept my assets in tact in the meantime.

My breakeven will require me to sell 120 units per day. E-Commerce is available, but requires advertising to my customer base. I would see a 35% ROI and net 120k annually without working in the day to day biz if I'm successful at improving the biz 50% over previous owners (again, it was not well managed...)

** My biggest risk is this - if the business is not successful, I am personally liable for the lease payments of $4800; lease duration is 5 years. 1400 sq feet in Columbus Ohio. Rent of $4800 was about 20% under value in Q1 2019 (now we're living in a different world however...)

I can open the biz May 12, according the Ohio's re-opening plan. I expect sales to come from 60% online, 40% in store. May 12-August I'll be open just to buy inventory. Aug 1- I'll open for in store sales.

QUESTION: What approach/tips are out there for convincing the landlord to waive the personal liability requirement?

I was supposed to open a franchise -- commercial lease risk

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