With the school year right around the corner, it’s time for students and parents to start checking items off their supplies lists and expand their wardrobes. Depending on a student’s age and extracurricular activities, the cost of a year’s worth of supplies can run upward of $519 per student.
With reports projecting record spending on back-to-school shopping this year, families turn to resale concepts such as Plato’s Closet® and Music Go Round® to check off the items on their students’ most needed supplies list.
Here’s why the back-to-school season generates such strong demand for resale franchise owners:
Record Spending Projected for 2019
Back-to-school spending is expected to reach an all-time high this year.
Between K-12 schools and colleges, parents and students are collectively expected to spend $80.7 billion on back-to-school supplies this year.
The price of clothing outweighs electronics and equipment for K-12 students, though it’s the opposite for college students. The amount of money spent on electronic school supplies alone is expected to grow by $800 million.
The back-to-school market is extensive – and too expensive for many families, who would rather not shell out hundreds or thousands of dollars at big-box retail stores. That’s why Winmark franchise owners have the additional advantage of capturing strong demand from savvy students and parents.
Resale Owners to Profit
Buying school supplies stretches far beyond pencil cases, calculators and notebooks.
For public school students and college students, buying new clothes is a necessity. Not only do fashion styles come and go, but many students are still growing during their school years. Buying brand-new clothing every year can quickly get pricey.
Winmark brands such as Once Upon A Child®, Plato’s Closet and Style Encore® provide a perfect solution to this problem.
Covering kids from babies to preteens, Once Upon A Child offers brand-name clothes, shoes, books and accessories at a fraction of regular retail prices. For growing children, there is no better place to save money during this back-to-school season.
Specializing in 12- to 24-year-olds, Plato’s Closet offers trendy, gently used clothing for students on a budget. Guests can receive up to 90 percent off on clothing, which allows students to shop smarter.
Style Encore picks up where Plato’s Closet leaves off and serves primarily 25-and-older female shoppers. For post-college students struggling to afford clothes for interviews and networking events, Style Encore fills a need. All three Winmark concepts are perfectly equipped to handle back-to-school shopping on a budget.
Extracurricular Expenses
An often overlooked segment of school shopping is the money required for students to participate in extracurricular activities, such as band or sports. Both musical instruments and sports equipment can easily break the bank – but they don’t have to.
Music Go Round and Play It Again Sports® offer high-quality, brand-name items at an affordable price point for students. For most schools, signing up for a sport or being a band student comes with a hefty fee. Football players often have to buy their own pads and cleats. Band students have to supply their own instrument or pay to rent one.
Many parents want their children to get involved in extracurricular activities, but some may decide against it due in part to the initial fee that comes with it.
Music Go Round and Play It Again Sports carry a variety of equipment for hobbyists and professionals alike, allowing everyone to participate in the activities and extracurriculars they enjoy.
Winmark franchise owners can simultaneously help students make their education experience go smoothly while also turning a profit.
Do you want to capitalize on the back-to-school resale industry? Contact us today!