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Winmark Corporation - FRAN DEV Winmark Corporation - FRAN DEV

FAQs

Answers About Our Winmark® Franchise Opportunities

Considering opening your own franchise? If so, you probably have a lot of questions about your prospective franchisor. At Winmark, we strive to be as transparent as possible with our franchisees and truly partner with them as we take this journey together. Below, you can find the answers to some of the most common questions we get from those interested in opening a Winmark brand franchise.

  • Winmark

    • Play It Again Sports® and Music Go Round®

      The average total investment to open a Play It Again Sports or Music Go Round store is approximately $300,000 to $375,000. In order to financially qualify, you’ll need to have at least 30% ($90,000 to $105,000) of the investment in non-borrowed personal resources (liquid assets, i.e. cash, stock, or marketable securities) and enough equity to collateralize the balance. The total cost will vary based on size and location.

      Once Upon A Child®, Plato’s Closet®, and Style Encore®

      The average total investment to open one of our apparel brands is approximately $275,000 to $375,000. In order to financially qualify, you’ll need to have at least $75,000 to $105,000 in non-borrowed personal resources (liquid assets, i.e. cash, stock, or marketable securities) and enough equity to collateralize the balance. The total cost will vary based on size and location.

    • Winmark does not provide direct financing. Our franchisees secure their financing through third party lending sources with most utilizing SBA loans. Winmark will assist you in preparing a comprehensive business plan to assist in obtaining a SBA loan or other financing once you’ve become a franchisee.
    • Play It Again Sports and Music Go Round
      A minimum of $ 90,000 to $105,000, however having more cash may increase your ability to obtain financing.

      Once Upon A Child, Plato’s Closet, and Style Encore
      A minimum of $75,000 to $105,000, however having more cash may increase your ability to obtain financing.
    • The financial return you will realize—as an owner of any small business—will depend on many factors including, but not limited to, how well you perform and follow the franchise system, your plan for advertising the business, and your ability to integrate the business into your community. Starting a new business involves some level of risk, so we encourage you to speak with our franchisees to learn about their experience and satisfaction with the business—both personally and financially.

      By talking with franchisees you will be able to understand the business potential and what is necessary to be successful. To hear from a few of them now, visit our testimonials page for each brand: Plato’s Closet, Once Upon A Child, Play It Again Sports, Style Encore, Music Go Round.

    • Plato’s Closet
      In 2023, the average Plato’s Closet store had sales of $1,300,065 with an average gross profit of $821,845 (63.33%). The top quartile representing 117 Plato’s Closet stores had average sales of $1,999,194 with an average gross profit of $1,264,396 (63.25%.)*


      *The Average Store numbers are the 2023 Average Gross Sales and Average Gross Profit amounts stated in Item 19 of the 2024 Plato’s
      Closet® Franchise Disclosure Documents (as reported by the 469 stores that had been in operation at least one year as of December 30,
      2023). Of the 469 stores, 196 or 42% of the stores attained or exceeded the Average Gross Sales and 196 or 42% of the stores attained or
      exceeded the Average Gross Profit. The top quartile Average Gross Sales and Average Gross Profit only relates to the 117 Plato’s Closet®
      Stores that ranked in the top 25% of the gross sales range. Of the 117 stores in the top quartile, 45 or 38% of the stores attained or exceeded
      the top quartile Average Gross Sales and 45 or 38% of the stores attained or exceeded the top quartile Average Gross Profit. A new
      franchisee’s results will likely differ from these results.

    • Once Upon A Child
      In 2023, the average Once Upon A Child store had sales of $1,248,773 with an average gross profit of $833,058 (66.71%). The top quartile representing 96 Once Upon A Child stores had average sales of $1,989,203 with an average gross profit of $1,321,841 (66.45%).*


      *The Average Store numbers are the 2023 Average Gross Sales and Average Gross Profit amounts stated in Item 19 of the 2024 Once Upon
      A Child® Franchise Disclosure Documents (as reported by the 386 stores that had been in operation at least one year as of December 30,
      2023). Of the 386 stores, 158 or 41% of the stores attained or exceeded the Average Gross Sales and 159 or 41% of the stores attained or
      exceeded the Average Gross Profit. The top quartile Average Gross Sales and Average Gross Profit only relates to the 96 Once Upon A
      Child® Stores that ranked in the top 25% of the gross sales range. Of the 96 stores in the top quartile, 33 or 34% of the stores attained or
      exceeded the top quartile Average Gross Sales and 34 or 35% of the stores attained or exceeded the top quartile Average Gross Profit. A
      new franchisee’s results will likely differ from these results.

    • Play It Again Sports
      In 2023, the average Play It Again Sports store had sales of $1,186,546 with an average gross profit of $629,692 (53.07%). The top quartile representing 65 Play It Again Sports stores had average sales of $2,072,645 with an average gross profit of $1,062,923 (51.28%).*


      *The Average Store numbers are the 2023 Average Gross Sales and Average Gross Profit amounts stated in Item 19 of the 2024 Play It Again
      Sports® Franchise Disclosure Documents (as reported by the 260 stores that had been in operation at least one year as of December 30,
      2023). Of the 260 stores, 97 or 37% of the stores attained or exceeded the Average Gross Sales and 100 or 38% of the stores attained or
      exceeded the Average Gross Profit. The top quartile Average Gross Sales and Average Gross Profit only relates to the 65 Play It Again
      Sports® Stores that ranked in the top 25% of the gross sales range. Of the 65 stores in the top quartile, 17 or 26% of the stores attained or
      exceeded the top quartile Average Gross Sales and 20 or 31% of the stores attained or exceeded the top quartile Average Gross Profit. A
      new franchisee’s results will likely differ from these results.

    • Style Encore
      In 2023, the average Style Encore store had sales of $884,938 with an average gross profit of $520,437 (58.81%). The top quartile representing 16 Style Encore stores had average sales of $1,515,801 with an average gross profit of $881,154 (58.13%).*


      *The Average Store numbers are the 2023 Average Gross Sales and Average Gross Profit amounts stated in Item 19 of the 2024 Style
      Encore® Franchise Disclosure Documents (as reported by the 65 stores that had been in operation at least one year as of December 30,
      2023). Of the 65 stores, 29 or 45% of the stores attained or exceeded the Average Gross Sales and 28 or 43% of the stores attained or
      exceeded the Average Gross Profit. The top quartile Average Gross Sales and Average Gross Profit only relates to the 16 Style Encore®
      Stores that ranked in the top 25% of the gross sales range. Of the 16 stores in the top quartile, 6 or 38% of the stores attained or exceeded
      the top quartile Average Gross Sales and 6 or 38% of the stores attained or exceeded the top quartile Average Gross Profit. A new
      franchisee’s results will likely differ from these results.

    • Music Go Round
      In 2023, the average Music Go Round store had sales of $1,322,547 with an average gross profit of $637,710 (48.22%). The top quartile representing 9 Music Go Round stores had average sales of $2,452,149 with an average gross profit of $1,167,100 (47.59%.)*


      *The Average Store numbers are the 2023 Average Gross Sales and Average Gross Profit amounts stated in Item 19 of the 2024 Music Go
      Round® Franchise Disclosure Documents (as reported by the 36 stores that had been in operation at least one year as of December 30,
      2023). Of the 36 stores, 14 or 39% of the stores attained or exceeded the Average Gross Sales and 14 or 39% of the stores attained or
      exceeded the Average Gross Profit. The top quartile Average Gross Sales and Average Gross Profit only relates to the 9 Music Go Round®
      Stores that ranked in the top 25% of the gross sales range. Of the 9 stores in the top quartile, 3 or 33% of the stores attained or exceeded the
      top quartile Average Gross Sales and 3 or 33% of the stores attained or exceeded the top quartile Average Gross Profit. A new franchisee’s
      results will likely differ from these results.

    • Winmark provides over 65 hours of classroom instruction and in-store training on the following:

      • Business plans
      • Retail site selection
      • Store set-up
      • Computer training
      • Advertising and marketing
      • Store Operations
      • Product Knowledge
    • Ongoing training is provided by Operations Managers, online via the online Learning Management System, and at annual franchise conferences and regional meetings. You’re also welcome to return for any portion of the classroom training you’d like to repeat at no additional cost.
    • Winmark has established guidelines and criteria for site selection, which you’ll learn about during your first week of training. Your selection process is supported by a team of people, including Winmark staff and local and national brokers.

      We don’t expect you to have a space prior to signing a franchise agreement. In many cases, starting discussions on a potential space before knowing key negotiation points can be a detriment to the process. Once you’ve attended training and completed your business plan you’ll know what you can afford and have a more thorough understanding of the site selection criteria, co-tenants, average lease term, and more.
    • During training you will learn how to utilize our proprietary computer system to purchase and price inventory. Your store will be open to buy gently used items (without selling anything until grand opening) for a period of approximately eight to ten weeks before your grand opening.
    • Successful franchisees with Winmark brands come into the business properly capitalized, they like to work hard, they are process-oriented and they have great people skills. Retail isn’t for everyone so once you’re financially approved we encourage you to talk to as many franchisees as possible in order to get an overall perspective on the day to day operations of the business.

      While having knowledge of the products you’ll work with in the brand you’re interested in is helpful, our comprehensive training program will provide you with the tools and skills you need to be in the best position to succeed. If you are motivated, organized, enjoy working with the public, and can diligently follow our proven system, you are a good candidate for one of Winmark's franchise brands.
    • The typical time frame to open a store for any of the Winmark brands is approximately nine to twelve months.
    • The initial term of the franchise agreement is 10 years with additional renewal terms of 10 years.
    • Winmark does not offer multi-unit agreements. We require franchisees to have their first location open for a minimum of 12 months to demonstrate operational strength and profitability before considering additional locations. We understand that many of our franchisees aspire to grow with us, and over 50% of our franchise system own one or more of our brands. With that, we prioritize the right timing for franchisee growth, so we can support their success.
    • The Initial Franchise Fee is $25,000. Included in it is the cost of goods and services Winmark provides you prior to opening such as the rights to your defined territory, trademarks, operating system, and ongoing training support.
    • Winmark has more than 30 years of experience in resale franchising.
    • Yes, you need to be an owner-operator or have an owner-operator in the business.
      • Plato’s Closet – 3,500 to 4,500 square feet
      • Once Upon A Child – 3,500 to 4,500 square feet
      • Play It Again Sports – 3,500 to 4,000 square feet
      • Style Encore – 3,000 to 4,000 square feet
      • Music Go Round – 3,000 to 4,000 square feet
    • To start the process, complete the full application, and a franchise developer will contact you to discuss next steps.
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