|
| divisions = {{Unbulleted list|Music Go Round|Once Upon a Child|Plato's Closet|Play It Again Sports|Style Encore}}
| subsid = Wirth Business Credit
| website = {{official URL|www.winmarkcorporation.com}}
}}
'''Winmark Corporation''' is an American [[franchising|franchisor]] of five sustainability-focused [[retail]] businesses that specialize in buying and selling [[used good]]s. The company is based in [[Minneapolis]], [[Minnesota]]. Winmark was founded in 1988 as Play It Again Sports Franchise Corporation by Ron Olson and Jeffrey Dahlberg after they purchased the [[Play It Again Sports]] franchise rights from Martha Morris. They renamed the company to Grow Biz International Inc. in June 1993. Grow Biz went public in August 1993. In 2000, John Morgan replaced Dahlberg as CEO, and renamed the company to Winmark in 2001.<ref>{{cite webMorgan |title=Winmark: About Us |url=https://winmarkcorporation.com/about-us/rescued |website=Winmark Corporationfrom |access-date=6the Januaryverge 2023}}</ref>of Inbankruptcy 2016,by Brettselling Heffesfinancially wasfailing namedfranchise Chief Executive Officer,<ref>{{cite web |last1=Winmark Corporation |title=Winmark Corporation Announces Managementconcepts and Governancestores Changes |url=https://www.businesswire.com/news/home/20160224006417/en/Winmark-Corporation-Announces-Management-and-Governance-Changes |website=Businesswire |access-date=6 January 2023}}</ref> and subsequently named Chairman in 2020.<ref>{{cite web |last1=Winmark Corporation |title=Winmark Corporation announces CEO Brett Heffes to additional role of Chairman ofreplacing the Board of Directorsmanagement |url=https://talent4boardsteam.com/winmark-corporation-announces-ceo-brett-heffes-to-additional-role-of-chairman-of-the-board-of-directors/ |website=Talent4Boards.Com |publisher=BusinessWire |access-date=6 January 2023}}</ref> The company's hasstrategy refocusedwas itsto effortsmove onfrom sustainabilityowning understores aitself newto mottohaving offranchisees "Resaleown forall Everyone."the <ref>{{cite web |last1=Winmark Corporation |title=Sustainability |url=https://winmarkcorporationstores.com/sustainability/ |website=Winmark |access-date=6 January 2023}}</ref>
Winmark Corporation owns five franchise-based retail companies that focus on [[used goods]]: Music Go Round ([[musical instrument]]s), Once Upon a Child (children's clothes and toys), Plato's Closet (adolescent and young adult clothes), [[Play It Again Sports]] ([[sports equipment]]), and Style Encore (women's clothing). Winmark also owned but subsequently sold four franchise-based retailed companies: Computer Renaissance (computer equipment), Disc Go Round ([[compact disc|CDs]]), It's About Game ([[computer games]] and [[video games]]), and ReTool (tools). WinmarkIts andsubsidiary itsWirth franchiseesBusiness claimCredit tois havea extendedsmall-business thesupplies livesleasing of over 1company.5 billion used items since 2010.<ref>{{cite web |last1=Winmark Corporation |title=Winmark Celebrates Sustainability Landmark with 1.5 Billion Units Recycled |url=https://www.prnewswire.com/news-releases/winmark-celebrates-sustainability-landmark-with-1-5-billion-units-recycled-301685225.html |website=PR Newswire |publisher=Cision |access-date=6 January 2023}}</ref>
Around 2013, research company [[IBISWorld]] reported that in the used goods outlet market, [[Goodwill Industries]] was first with a 21.5% share, Winmark was second with nearly 6%, and [[The Salvation Army]] was third with nearly 4%. In 2016, Winmark had a $1 billion [[market share]] in the $17 billion resell industry through its 1,170 franchisees.
In 2022, Winmark reported system-wide sales of $1.4 billion across its 1,291 stores.<ref>{{cite web |last1=Securities and Exchange Comission |title=WINMARK CORPORATION: FORM 10-K, March 8, 2022 |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/908315/000090831522000008/c315-20211225x10k.htm |website=Sec.gov |access-date=6 January 2023}}</ref>
==History==
Ron Olson and Jeffrey Dahlberg started a [[consulting firm]], Franchise Business Systems,<ref name="Feuerbach1997-04-20">{{cite news|last=Feuerbach |first=Lynn |date=1997-04-20 |title=Something Old Something New – Used merchandise chain finds success in Cedar Rapids |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EAFE8D533CBA3CA?p=AWNB |newspaper=[[The Gazette (Cedar Rapids)|The Gazette]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527225933/https://www.webcitation.org/6kJLBI2sJ?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EAFE8D533CBA3CA?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> in 1986.<ref name="McCartney1995-06-11">{{cite news|last=McCartney |first=Jim |date=1995-06-11 |title=Large-Scale Garage Sale//Grow Biz International, With Its Five Franchise Concepts That Push Used and New Merchandise, Is Still on a Massive and Much-Touted Growth Spurt. But Rapid Growth Has Come with its Share of Problems for the Golden Valley Firm. |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB5DF2AB6DB03AE?p=AWNB |newspaper=[[St. Paul Pioneer Press]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230012/https://www.webcitation.org/6kJLCKPa2?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB5DF2AB6DB03AE?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> Olson had been the president of R.J. Brandon Galleries and Dahlberg had been the chief executive officer of his father [[Kenneth H. Dahlberg]]'s company, Dahlberg Inc. (now [[Miracle-Ear]]).<ref name="McCartney1995-06-11"/> Martha Morris was an initial customer of Olson and Dahlberg's consulting company.<ref name="McCartney1995-06-11"/> Morris, who started Play It Again Sports in 1983 in [[Uptown, Minneapolis]], had purchased camping and backpacking supplies, found out she was not interested in camping, and decided to sell her [[used good]]s.<ref name="McCartney1995-06-11"/><ref name="Bust2007-10-08">{{cite news|last=Bust |first=Will |date=2007-10-08 |title=Trio of Used-Product Franchises Flourish in the Metro-East |url=http://infoweb.newsbank.com/resources/doc/nb/news/11C3713A5A96E668?p=AWNB |newspaper=[[Belleville News-Democrat]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230052/https://www.webcitation.org/6kJLG2Ya4?url=http://infoweb.newsbank.com/resources/doc/nb/news/11C3713A5A96E668?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> She had attempted to sell a costly, lightly used backpack through making ads and visiting a sports shop, where an employee told her, "We don't sell used equipment." Morris decided to start her own store since she believed other people might have used sports equipment they would like to sell.<ref name="Feuerbach1997-04-20"/>
Morris expressed a desire to make her idea a franchise. Although Olson and Dahlberg were first concerned about the idea's outlook for success, their worries disappeared after they dropped by her outlet a Saturday morning and found a line of 10 customers before Morris' store had even opened.<ref name="McCartney1995-06-11"/> Their strategy to captivate franchisees was to add urbanity to something they called a "garage sale-looking environment" but not harm the initial idea.<ref name="McCartney1995-06-11"/> Olson and Dahlberg quickly realized they preferred to be the owners of a company instead of be advisers. Morris sold her Play It Again Sports franchise rights to Olson and Dahlberg in 1988. She sold her stores to them in 1990.<ref name="McCartney1995-06-11"/> Play It Again Sports became Winmark's first division.<ref name="Bust2007-10-08"/>
The company was incorporated as Play It Again Sports Franchise Corporation in 1988<ref name="Bust2007-10-08"/> and was renamed to Grow Biz International Inc. in June 1993.<ref name="McCartney1995-06-11"/> It went public in August 1993.<ref name="McCartney1995-06-11"/><ref name="Walden2009-02-02">{{cite news|last=Walden |first=Gene |date=2009-02-02 |title=Used merchandise a hit for Winmark – Income for the Minneapolis owner of such franchise-based businesses as Music Go Round and Play It Again Sports is growing during recession |url=http://infoweb.newsbank.com/resources/doc/nb/news/129E6CB3EE5CBA88?p=AWNB |newspaper=[[Star Tribune]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230132/https://www.webcitation.org/6kJLGmNZE?url=http://infoweb.newsbank.com/resources/doc/nb/news/129E6CB3EE5CBA88?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> The company was listed on [[NASDAQ]] as GBIZ;<ref name="Campbell1997-08-10">{{cite news|last=Campbell |first=Genie |date=1997-08-10 |title=Previously Played and Profitable. Business is Brisk at Used Instrument Store in Madison |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EAF0FF343A96489?p=AWNB |newspaper=[[Wisconsin State Journal]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230214/https://www.webcitation.org/6kJLKflzt?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EAF0FF343A96489?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> it is now listed on [[NASDAQ]] as WINA.<ref name="Pesquera2006-12-20">{{cite news|last=Pesquera |first=Adolfo |date=2006-12-20 |title=Credit where credit is due |url=http://infoweb.newsbank.com/resources/doc/nb/news/116278E9B08D5240?p=AWNB |newspaper=[[San Antonio Express-News]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230255/https://www.webcitation.org/6kJLN3zFt?url=http://infoweb.newsbank.com/resources/doc/nb/news/116278E9B08D5240?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> In 1995, a significant number of the company's franchises were on ''[[Entrepreneur (magazine)|Entrepreneur]]''{{'}}s annual "Franchise 500" list.<ref name="Bust2007-10-08"/> In 2001, Grow Biz was renamed to Winmark Corporation.<ref name="Wehrwein2013-10-04">{{cite news|last=Wehrwein |first=Sven |date=2013-10-04 |title=Candid Winmark leader John Morgan has no filter |url=https://www.minnpost.com/twin-cities-business/2013/10/candid-winmark-leader-john-morgan-has-no-filter |newspaper=[[MinnPost]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906034848/https://www.minnpost.com/twin-cities-business/2013/10/candid-winmark-leader-john-morgan-has-no-filter |archive-date=2016-09-06 |url-status=dead }}</ref><ref name="Okon2006-05-28">{{cite news|last=Okon |first=Bob |date=2006-05-28 |title=Play It Again Sports . again |url=http://infoweb.newsbank.com/resources/doc/nb/news/118384FC7B404620?p=AWNB |newspaper=[[The Herald-News]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230333/https://www.webcitation.org/6kJLTvzky?url=http://infoweb.newsbank.com/resources/doc/nb/news/118384FC7B404620?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> Winmark Corporation is based in [[Minneapolis]], [[Minnesota]].<ref name="Nelson2009-11-06">{{cite news|last=Nelson |first=Todd |date=2009-11-06 |title=Like a business adviser on your desktop – Website wbsonline.com is free now, but owner Winmark hopes to turn a profit with it eventually. |url=http://infoweb.newsbank.com/resources/doc/nb/news/12C5204F7AED53C0?p=AWNB |newspaper=[[Star Tribune]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230414/https://www.webcitation.org/6kJLW8MDc?url=http://infoweb.newsbank.com/resources/doc/nb/news/12C5204F7AED53C0?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref>
In March 2000, John Morgan took over as CEO from Jeff Dahlberg.<ref name="Wehrwein2013-10-04"/> By a year after joining the company as CEO, Morgan rescued Winmark from the precipice of bankruptcy by introducing stringent review of franchisee finances, shuttering failing Play It Again Sports stores, and appointing his own people to executive and board positions.<ref name="Crosby2008-08-03">{{cite news|last=Crosby |first=Jackie |date=2008-08-03 |title=Heard on the prairie – The secondhand-store company looks to equipping offices for increased success. |url=http://infoweb.newsbank.com/resources/doc/nb/news/12271E8867D34060?p=AWNB |newspaper=[[Star Tribune]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230455/https://www.webcitation.org/6kJLZ6dAT?url=http://infoweb.newsbank.com/resources/doc/nb/news/12271E8867D34060?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> Morgan chose Steve Briggs, who had been at [[Valspar]], as the company's [[president (corporate title)|president]]. He selected as board members Kirk MacKenzie, whom he had worked with at Winthrop Resources, and Paul Reyelts, the [[chief financial officer]] at [[Valspar]].<ref name="St. Anthony2004-04-10">{{cite news|last=St. Anthony |first=Neal |date=2004-04-10 |title=Once again, Morgan delivers the goods – Under his control, Winmark posts record earnings |url=http://infoweb.newsbank.com/resources/doc/nb/news/101F53420FF83D93?p=AWNB |newspaper=[[Star Tribune]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230535/https://www.webcitation.org/6kJLcAWgf?url=http://infoweb.newsbank.com/resources/doc/nb/news/101F53420FF83D93?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> In June 2000, Winmark sold its [[corporate headquarters]] building to Koch Trucking.<ref name="Moore2000-07-08">{{cite news|last=Moore |first=Janet |date=2000-07-08 |title=For $3 million, Grow Biz sells Computer Renaissance concept |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EFCCF05592C64BB?p=AWNB |newspaper=[[Star Tribune]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230617/https://www.webcitation.org/6kJLeho3h?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EFCCF05592C64BB?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> The company had lost $350,700 in 2000; in 2001, it had a [[net income]] of $3.2 million.<ref name="Daniel2002-08-21">{{cite news|last=Daniel |first=Fran |date=2002-08-21 |title=No Stopping Them – Couple Continue to Reuse the Idea of Opening Recycled-Clothes Stores |url=http://infoweb.newsbank.com/resources/doc/nb/news/0F5925ACEE19C923?p=AWNB |newspaper=[[Winston-Salem Journal]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230656/https://www.webcitation.org/6kJLh8PEC?url=http://infoweb.newsbank.com/resources/doc/nb/news/0F5925ACEE19C923?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> Morgan said in a 2009 interview with the ''[[Star Tribune]]'' about the state of Winmark before he joined, "The company was very good at selling franchises, but it was still losing money."<ref name="Walden2009-02-02"/> Around 2002, Winmark sold the franchises Retool, Computer Renaissance and Disc-Go-Round.<ref name="Ewoldt2002-08-08">{{cite news|last=Ewoldt |first=John |date=2002-08-08 |title=Dollars & Sense – Frugal Fashions – At Plato's Closet, everything from Abercrombie to Zumiez sells for a fraction of retail. Just don't tell teens it's used. |url=http://infoweb.newsbank.com/resources/doc/nb/news/0F54B84B0FAC9AC1?p=AWNB |newspaper=[[Star Tribune]] |access-date=2016-09-06 |archive-url=https://wwwweb.webcitationarchive.org/6kJLjfJNm?url=web/20230723135950/http://infoweb.newsbank.com/resources/doc/nb/news/0F54B84B0FAC9AC1?p=AWNB |archive-date=20162023-0907-0623 |url-status=dead }}</ref>
In 2011, Winmark was ranked the 11th company on ''[[Forbes]]''{{'}}s "The Top 20 Small Public Companies In America".<ref name="Radford2012-03-16">{{cite news|last=Radford |first=Bill |date=2012-03-16 |title=Wave of resale, consignment shops pops up in Springs |url=http://infoweb.newsbank.com/resources/doc/nb/news/15E9D47849026968?p=AWNB |newspaper=[[The Gazette (Colorado Springs)|The Gazette]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230738/https://www.webcitation.org/6kJLzAo3x?url=http://infoweb.newsbank.com/resources/doc/nb/news/15E9D47849026968?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> Around 2013, research company [[IBISWorld]] found that in the used goods outlet market, [[Goodwill Industries]] was first with a 21.5% share, Winmark was second with nearly 6%, and [[The Salvation Army]] was third with nearly 4%.<ref name="Valverde">{{cite news|last=Valverde |first=Miriam |date=2013-04-04 |title=Plato's Closet opens in Fort Lauderdale, selling and buying trendy apparel |url=http://articles.sun-sentinel.com/2013-04-04/business/fl-platos-closet-opening-20130404_1_closet-plato-plantation-store |newspaper=[[Sun-Sentinel]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906035435/http://articles.sun-sentinel.com/2013-04-04/business/fl-platos-closet-opening-20130404_1_closet-plato-plantation-store |archive-date=2016-09-06 |url-status=dead }}</ref> In 2016, the company had a $1 billion [[market share]] in the $17 billion resell industry through its 1,170 franchisees.<ref name="O'Connell2016-08-07">{{cite news|last=O'Connell |first=Jon |date=2016-08-07 |title=Reselling goods is big business in U.S. |url=http://thetimes-tribune.com/news/business/reselling-goods-is-big-business-in-u-s-1.2075362 |newspaper=[[The Scranton Times-Tribune]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906035444/http://thetimes-tribune.com/news/business/reselling-goods-is-big-business-in-u-s-1.2075362 |archive-date=2016-09-06 |url-status=dead }}</ref>
In February 2016, President Brett Heffes was chosen as Winmark's next CEO, succeeding John Morgan, who became the executive chairman.<ref name="Reyes2016-02-25">{{cite news|last=Reyes |first=Robin |date=2016-02-25 |title=Winmark Names President Brett Heffes as New CEO, Succeeding John Morgan |url=http://sonoranweeklyreview.com/winmark-names-president-brett-heffes-as-new-ceo-succeeding-john-morgan-nasdaqwina/ |newspaper=[[Sonoran Weekly Review]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906035528/http://sonoranweeklyreview.com/winmark-names-president-brett-heffes-as-new-ceo-succeeding-john-morgan-nasdaqwina/ |archive-date=2016-09-06 |url-status=dead }}</ref> According to a 2014 article in ''[[The Toronto Star]]'', Morgan holds the most shares in the company.<ref name="Kopun2014-03-14">{{cite news|last=Kopun |first=Francine |date=2014-03-14 |title=Can selling second-hand clothes be profitable? |url=https://www.thestar.com/business/2014/03/14/can_selling_secondhand_clothes_be_profitable.html |newspaper=[[Toronto Star]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906035535/https://www.thestar.com/business/2014/03/14/can_selling_secondhand_clothes_be_profitable.html |archive-date=2016-09-06 |url-status=dead }}</ref>
==Franchises==
Winmark Corporation owns five franchise-based retail companies that focus on [[used good]]s: Music Go Round ([[musical instrument]]s), Once Upon a Child (children's clothes and toys), Plato's Closet (adolescent and young adult clothes), Play It Again Sports ([[sports equipment]]), and Style Encore (women's clothing).<ref name="Smith2013-01-24">{{cite news|last=Smith |first=Kevin |date=2013-01-24 |title=Winmark to open resale stores in the San Gabriel Valley |url=http://www.pasadenastarnews.com/article/ZZ/20130124/NEWS/130128416 |newspaper=[[Pasadena Star-News]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906035547/http://www.pasadenastarnews.com/article/ZZ/20130124/NEWS/130128416 |archive-date=2016-09-06 |url-status=dead }}</ref><ref name="Webb2014-05-28">{{cite news|last=Webb |first=Tom |date=2014-05-28 |title=Eagan's Style Encore offers curtain call for used clothing |url=http://www.twincities.com/2014/05/28/eagans-style-encore-offers-curtain-call-for-used-clothing/ |newspaper=[[St. Paul Pioneer Press]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906035600/http://www.twincities.com/2014/05/28/eagans-style-encore-offers-curtain-call-for-used-clothing/ |archive-date=2016-09-06 |url-status=dead }}</ref> Winmark sold four franchise-based retailed companies: Computer Renaissance (computer equipment), Disc Go Round ([[compact disc|CDs]]), It's About Game ([[computer games]] and [[video games]]), and ReTool (tools).
The cost to become a franchisee in 2009 was $25,000 and five percent of the franchisee's [[gross revenue]].<ref name="Walden2009-02-02"/> Franchisees further are required to pay Winmark for advertising and miscellaneous assistance.<ref name="Kopun2014-03-14">{{cite news|last=Kopun |first=Francine |date=2014-03-14 |title=Can selling second-hand clothes be profitable? |url=https://www.thestar.com/business/2014/03/14/can_selling_secondhand_clothes_be_profitable.html |newspaper=[[Toronto Star]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906035535/https://www.thestar.com/business/2014/03/14/can_selling_secondhand_clothes_be_profitable.html |archive-date=2016-09-06 |url-status=dead }}</ref> Although Winmark's contract with franchisees does not allot them territories, the contract ensures that any rival outlets must be located five or more miles away.<ref name="Nelson2008-04-17">{{cite news|last=Nelson |first=Jonathan |date=2008-04-17 |title='Very picky' Plato's |url=http://infoweb.newsbank.com/resources/doc/nb/news/1202365048602A40?p=AWNB |newspaper=[[The Columbian]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230815/https://www.webcitation.org/6kJM7T6pV?url=http://infoweb.newsbank.com/resources/doc/nb/news/1202365048602A40?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref>
Despite Winmark's specializing in used goods, its stores sell new goods as well.<ref name="Walden2009-02-02"/> Through its many stores, Winmark uses its [[buying power]] to negotiate competitive prices for the stores' new goods.<ref name="Okon2003-04-27">{{cite news|last=Okon |first=Bob |date=2003-04-27 |title=Bursting at the seams – Store: Once Upon a Child moving to new location |url=http://infoweb.newsbank.com/resources/doc/nb/news/0FEBFDC913D640EE?p=AWNB |newspaper=[[The Herald-News]] |access-date=2016-09-06 |archive-url=https://www.webcitation.org/6kJMBC2rY?url=http://infoweb.newsbank.com/resources/doc/nb/news/0FEBFDC913D640EE?p=AWNB |archive-date=2016-09-06 |url-status=dead }}</ref> It also teaches franchisees about the used goods industry and offers pricing software to establish standards for the used goods they purchase.<ref name="Okon2003-04-27"/> ▼
▲Despite Winmark's specializing in used goods, its stores sell new goods as welltoo.<ref name="Walden2009-02-02"/> Through its many stores, Winmark uses its [[buying power]] to negotiate competitive prices for the stores' new goods.<ref name="Okon2003-04-27">{{cite news|last=Okon |first=Bob |date=2003-04-27 |title=Bursting at the seams – Store: Once Upon a Child moving to new location |url=http://infoweb.newsbank.com/resources/doc/nb/news/0FEBFDC913D640EE?p=AWNB |newspaper=[[The Herald-News]] |access-date=2016-09-06 |archive-url= https://archive.today/20240527230859/https://www.webcitation.org/6kJMBC2rY?url=http://infoweb.newsbank.com/resources/doc/nb/news/0FEBFDC913D640EE ?p%3Fp=AWNB |archive-date= 20162024- 0905- 0627 |url-status=dead }}</ref> It also teaches franchisees about the used goods industry and offers pricing software to establish standards for the used goods they purchase.<ref name="Okon2003-04-27"/>
Between 2006 and 2010, Winmark started around 50 stores annually.<ref name="Nixon2010-08-27">{{cite news|last=Nixon |first=Alex |date=2010-08-27 |title=Franchise opportunities open with Winmark |url=http://infoweb.newsbank.com/resources/doc/nb/news/131E6135F9A5A508?p=AWNB |newspaper=[[Kalamazoo Gazette]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231016/https://www.webcitation.org/6kJMLc1Qh?url=http://infoweb.newsbank.com/resources/doc/nb/news/131E6135F9A5A508%3Fp=AWNB |archive-date=2024-05-27 |url-status=dead }}</ref> In 2013, Winmark had over 1,000 franchised stores—none of which it owned—that in total had sales of over $900 million.<ref name="Wehrwein2013-10-04"/>
===Current franchises===
====Music Go Round====
Music Go Round purchases, sells, and exchanges used musical instruments and paraphernalia.<ref name="Hughes2011-05-08"/> Founded as Hi-Tech Consignments in [[Minneapolis]] by Bill Shell in 1986, Winmark purchased it in 1993 and renamed it to Music Go Round.<ref name="Campbell1997-08-10"/><ref name="McCartney1998-09-23">{{cite news|last=McCartney |first=Jim |date=1998-09-23 |title=Playing a New Tune//A Strong Economy Has Made Franchising a Less Popular Business Option. Franchisor Music Go Round is Adjusting to that Reality by Operating More Corporately Owned Stores. |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB5E32D1833B08D?p=AWNB |newspaper=[[St. Paul Pioneer Press]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527230937/https://www.webcitation.org/6kJMEDwf3?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB5E32D1833B08D?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> In 2009, roughly 30% of Music Go Round's musical instruments purchased were new.<ref name="Walden2009-02-02"/> In 2011, it had 35 locations in the United States.<ref name="Hughes2011-05-08"/> In 2010, the complete cost to start a Music Go Round was $300,000 and the average yearly sales were between $650,000 and $725,000.<ref name="Nixon2010-08-27">{{cite news|last=Nixon |first=Alex |date=2010-08-27 |title=Franchise opportunities open with Winmark |url=http://infoweb.newsbank.com/resources/doc/nb/news/131E6135F9A5A508?p=AWNB |newspaper=[[Kalamazoo Gazette]] |access-date=2016-09-06 |archive-url=https://www.webcitation.org/6kJMLc1Qh?url=http://infoweb.newsbank.com/resources/doc/nb/news/131E6135F9A5A508?p=AWNB |archive-date=2016-09-06 |url-status=dead }}</ref>
====Once Upon a Child====
Once Upon a Child purchases and sells used children's attire and toys.<ref name="Hughes2011-05-08"/> The first Once Upon a Child store was opened in 1985 in [[Perrysburg, Ohio]], by Dennis and Lynn Blum in 1985 after they observed [[Goodwill Industries]] accepting and selling used baby attire.<ref name="Nevius2005-06-10">{{cite news|last=Nevius |first=C.W. |date=2005-06-10 |title=Dublin: Plato's Closet resells 'in' clothes before they are 'out' |url=http://www.sfgate.com/bayarea/nevius/article/Dublin-Plato-s-Closet-resells-in-clothes-2663458.php |newspaper=[[San Francisco Chronicle]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906040342/http://www.sfgate.com/bayarea/nevius/article/Dublin-Plato-s-Closet-resells-in-clothes-2663458.php |archive-date=2016-09-06 |url-status=dead }}</ref> Prior to opening a store, Lynn Blum had been selling her three sons' and friends' and neighbors' clothing in a garage sale from her house every week. Her husband resigned from his employment in 1989 to work with Lynn .<ref name="Yeomans2002-07-10">{{cite news|last=Yeomans |first=Michael |date=2002-07-10 |title=Some new clothing chains happy to take the shirt off your back |url=http://infoweb.newsbank.com/resources/doc/nb/news/152DB36D15C86A80?p=AWNB |newspaper=[[Pittsburgh Tribune-Review]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231059/https://www.webcitation.org/6kJMOhzhC?url=http://infoweb.newsbank.com/resources/doc/nb/news/152DB36D15C86A80?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> Winmark purchased the company in 1992. In 2009, roughly 10% of Once Upon a Child's children's attire and playthings purchased were new.<ref name="Walden2009-02-02"/> In 2011, it had 240 locations in the United States and 24 in Canada.<ref name="Hughes2011-05-08"/> In 2010, the complete cost to start a Once Upon a Child was between $200,000 and $250,000 and the average yearly sales were between $650,000 and $725,000.<ref name="Nixon2010-08-27"/>
====Plato's Closet====
Plato's Closet purchases and sells used [[brand name]] children'steenager and teenagers'young [[brandadult name]] clothesclothing, shoes, and paraphernalia.<ref name="Hughes2011-05-08">{{cite news|last=Hughes |first=Christopher J. |date=2011-05-08 |title=Winmark branches out |url=http://archives.timesleader.com/2011_7/2011_05_08_Winmark_branches_out_-Scranton.html |newspaper=[[Times Leader]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906040406/http://archives.timesleader.com/2011_7/2011_05_08_Winmark_branches_out_-Scranton.html |archive-date=2016-09-06 |url-status=dead }}</ref> It focuses on clothes for people ages 12 to 24.<ref name="Maben2009-08-07">{{cite news|last=Maben |first=Scott |date=2009-08-07 |title=New Plato's Closet coming |url=http://www.spokesman.com/stories/2009/aug/07/new-platos-closet-coming/ |newspaper=[[The Spokesman-Review]] |access-date=2016-09-06 |archive-url=https://web.archive.org/web/20160906040451/http://www.spokesman.com/stories/2009/aug/07/new-platos-closet-coming/ |archive-date=2016-09-06 |url-status=dead }}</ref><ref name="Wells2005-10-06">{{cite news|last=Wells |first=Devona |date=2005-10-06 |title=Retailer's resales hit Inland area |url=http://infoweb.newsbank.com/resources/doc/nb/news/10D1745CEA2FE570?p=AWNB |newspaper=[[The Press-Enterprise]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231138/https://www.webcitation.org/6kJMU589x?url=http://infoweb.newsbank.com/resources/doc/nb/news/10D1745CEA2FE570?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> Winmark purchased Plato's Closet from Dennis and Lynn Blum, the founders of Once Upon a Child, in 1998.<ref name="Nevius2005-06-10"/><ref name="Verdon2003-10-31">{{cite news|last=Verdon |first=Joan |date=2003-10-31 |title=Store turns used teen clothes into gold |url=http://infoweb.newsbank.com/resources/doc/nb/news/0FE8AA632C133CE3?p=AWNB |newspaper=[[The Record (Bergen County)|The Record]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231220/https://www.webcitation.org/6kJMXkHNn?url=http://infoweb.newsbank.com/resources/doc/nb/news/0FE8AA632C133CE3?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> The store's name was inspired by a Blum son's schoolwork about [[Plato]] who had been an early advocate of recycling, which paralleled the aim to recycle used clothes.<ref name="Nevius2005-06-10"/><ref name="Verdon2003-10-31"/> In 2011, there were over 280 franchisees in the United States and Canada.<ref name="Hughes2011-05-08"/> In 2010, the complete cost to start a Plato's Closet was between $200,000 and $250,000 and the average yearly sales were $825,000.<ref name="Nixon2010-08-27"/>
A 2001 article in the ''[[Star Tribune]]'' noted that Plato's Closet in 2001 stocked up on [[brand name]]s such as [[Abercrombie & Fitch]], [[Gap Inc.]], [[Silver Jeans Co.]], [[Sean John]], [[Express, Inc.]], and [[Dr. Martens]] that they sold at a markdown of between 50% and 75%.<ref name="Ewoldt2002-08-08"/> Unlike [[consignment shop]]s, Plato's Closet pays sellers on the spot.<ref name="Ewoldt2002-08-08"/> Used clothes are purchased at between 30% and 40% of what Plato's Closet intends to sell them at.<ref name="Maben2009-08-07"/> In a 2009 interview with ''[[Star Tribune]]'', CEO John Morgan said Plato's Closet did the best during the [[Great Recession]] among Winmark's franchises because people were more likely to sell used clothing to make money and to buy used clothing to save money.<ref name="Walden2009-02-02"/>
====Computer Renaissance====
Computer Renaissance bought and sold new and used computer supplies such as [[computer]]s, [[computer memory]], [[computer monitor]]s, and [[printer (computing)|printers]].<ref name="Hostetter1997-10-21">{{cite news|last=Hostetter |first=George |date=1997-10-21 |title=Used-Computer Chain Opens Clovis Outlet. Computer Renaissance Opens First Valley Store in Clovis. |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EAE8A2A30F716B5?p=AWNB |newspaper=[[The Fresno Bee]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231259/https://www.webcitation.org/6kJMdOnmi?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EAE8A2A30F716B5?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> The store also sold computer games and books and helped customers build custom computers.<ref name="Hunt1996-06-14">{{cite news|last=Hunt |first=Mary Beth |date=1996-06-14 |title=Selling high tech without high price |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB52E19747C7671?p=AWNB |newspaper=[[Tampa Bay Times]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231342/https://www.webcitation.org/6kJMg7JaF?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB52E19747C7671?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> Computer Renaissance was started in 1993.<ref name="Chang1996-07-08">{{cite news|last=Chang |first=Ellen Y. |date=1996-07-08 |title=Store Will Buy, Sell Used PCs: Franchiser Will Open in City July 23 |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB782D695318E9C?p=AWNB |newspaper=[[The Journal Gazette]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231422/https://www.webcitation.org/6kJMjVB7n?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB782D695318E9C?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> On July 7, 2000, Winmark sold Computer Renaissance, which had 209 stores, to Jack Hollis' Hollis Technologies LLC in [[Lakeland, Florida]], for $3 million. Hollis had been a Computer Renaissance franchisee.<ref name="Moore2000-07-08"/> CEO John Morgan said that whereas Music Go Round's used musical equipment did not depreciate, Computer Renaissance's aging computers did.<ref name="Maler2000-10-22">{{cite news|last=Maler |first=Kevin |date=2000-10-22 |title=C.H. Robinson Worldwide's Stock Stays on the Move, Should Continue to Grow |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB73A4043F56F12?p=AWNB |newspaper=[[St. Paul Pioneer Press]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231459/https://www.webcitation.org/6kJMmAiUo?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB73A4043F56F12?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref>
====Disc Go Round====
Disc Go Round bought and sold new and used [[compact disc]]s (CDs).<ref name="McCartney1995-06-11"/> In July 1994, Winmark spent $2.3 million to purchase CDX Audio, which used the name CD Exchange in [[Green Bay, Wisconsin]]. When Winmark purchased the company, it had 42 stores.<ref name="McCartney1995-06-11"/><ref name="Hogan1998-06-18">{{cite news|last=Hogan |first=Gypsy |date=1998-06-18 |title=CD Warehouse Makes Acquisition |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB46F9AF30077D3?p=AWNB |newspaper=[[The Oklahoman]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231541/https://www.webcitation.org/6kJMopHko?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB46F9AF30077D3?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> Winmark renamed the used CD store to Disc Go Round because they could not nationally trademark the name "CD Exchange".<ref name="Ford1994-10-23">{{cite news|last=Ford |first=George C. |date=1994-10-23 |title=Men make 'sound' investment selling used CDs |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EAFE7AD17682239?p=AWNB |newspaper=[[The Gazette (Cedar Rapids)|The Gazette]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231622/https://www.webcitation.org/6kJMqpjs4?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EAFE7AD17682239?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> The outlet had an electronic system that recorded all the CDs a store had so customers did not have to browse the shelves trying to determine whether a particular CD was present.<ref name="Ford1994-10-23"/> Disc Go Around also had "listening stations" for customers to listen to CDs.<ref name="Ford1994-10-23"/> Winmark sold Disc Go Round, which had increased to 137 stores, to [[CD Warehouse]] on June 26, 1998, for $7.4 million.<ref name="Hogan1998-06-18"/>
====It's About Games====
====ReTool====
ReTool bought and sold used tools. Winmark opened the first ReTool on November 10, 1999, in [[Chicago]].<ref name="Peters1999-11-11">{{cite news|last=Peters |first=Jim |date=1999-11-11 |title=Company Launches Store That Sells Used Tools |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EB097341B3E48AC?p=AWNB |newspaper=[[The Herald-News]] |access-date=2016-09-06 |archive-url=https://wwwweb.webcitationarchive.org/6kJMyKizu?url=web/20220620012205/http://infoweb.newsbank.com/resources/doc/nb/news/0EB097341B3E48AC?p=AWNB |archive-date=20162022-0906-0620 |url-status=dead }}</ref> Roughly 65% of ReTool's goods were purchased from people, while the remainder was purchased from factories that produced too many tools or from closing businesses.<ref name="Bond1999-11-19">{{cite news|last=Bond |first=Pati |date=1999-11-19 |title=Tool recycle franchise a boon for the handy |url=http://infoweb.newsbank.com/resources/doc/nb/news/0EADA4C5B33E89DA?p=AWNB |newspaper=[[The Atlanta Journal-Constitution]] |access-date=2016-09-06 |archive-url=https://archive.today/20240527231659/https://www.webcitation.org/6kJMyt0y9?url=http://infoweb.newsbank.com/resources/doc/nb/news/0EADA4C5B33E89DA?p%3Fp=AWNB |archive-date=20162024-0905-0627 |url-status=dead }}</ref> CEO John Morgan said in an October 2000 interview that many people did not sell tools they did not use so it was hard to accumulate used tools at ReTool.<ref name="Maler2000-10-22"/> Winmark sold ReTool around 2002.<ref name="Ewoldt2002-08-08"/>
==Subsidiaries==
===Wirth Business Credit===
Wirth Business Credit is a small-business supplies leasing company owned by Winmark.<ref name="Pesquera2006-12-20"/><ref name="Nelson2009-11-06"/> In a 2008 interview with the ''[[Star Tribune]]'', CEO John Morgan said Winmark plowed the $9 million to $10 million in profit from its franchisees into Wirth Business Credit because they believed leasing supplies will become a profitable business even though the current growth had been slow.<ref name="Crosby2008-08-03"/> In 2008, there were 27 Wirth Business Credit franchises.<ref name="Crosby2008-08-03"/>
In 2004, Winmark created Winmark Business Solutions, a website for [[small business]]es owners.<ref name="Nelson2009-11-06"/> Winmark Business Solutions was intended to help [[franchising|franchisees]] and clients of Wirth Business Credit. The website hosted 6,000 pages related to business such as how to found a company and how to sell a company. It had a forum for people to discuss small business issues and its articles also discussed finance, insurance, and technology topics with a focus on business.<ref name="Nelson2009-11-06"/>
==References==
==External links==
* {{Official website|www.https://winmarkcorporation.com/}}
{{Portal bar|Companies|United States}}
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[[Category:American companies established in 1988]]
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