Resale businesses are in fashion right now. Studies show that the global secondhand apparel market is set to double by 2027 and that 74% of global consumers are already shopping resale. For budding entrepreneurs looking to open their own businesses, the resale market presents a compelling opportunity in a continuously growing and hot industry.
For the last 35 years, Winmark - The Resale Company® has helped people achieve their entrepreneurial aspirations while meeting critical needs in communities across the United States and Canada. Our experience in the franchising and resale industries has helped lay the path for over 900 franchisees to create their own rewarding, lasting resale businesses. Here are five tips from us for entrepreneurs looking to own a business in the resale industry:
1. Determine What Type of Business You’re Passionate About
One of the great things about the resale industry is its diversity and the value it presents to customers and business owners alike. Resale businesses come in all shapes and sizes, with concepts ranging from clothing to technology. Before starting a business, you must decide where your passions lie and what segment of the resale market best suits you.
Winmark® has five unique brands under our umbrella: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore®, and Music Go Round®. Plato’s Closet offers teens and young adults trendy, gently-used clothing, while Once Upon a Child buys and sells affordable children’s clothing, shoes, toys, and baby gear. Play It Again Sports provides sports equipment and athletic gear, Style Encore offers a variety of stylish and trendy resale shopping options to women and men. With Music Go Round, customers can buy and sell gently used music equipment like guitars, drums, keyboards, and sound equipment.
With such a wide variety of options, Winmark brands give franchisees the opportunity to target a specific consumer audience that aligns with their interests. From everyday items like clothing for children, teens, and adults to passion-driven products for budding musicians and future sports all-stars, deciding to collaborate with Winmark offers affordable, convenient resources within local communities.
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2. Decide on the Business Model that Works for You
When you decide to become a business owner, there are two primary routes to consider: creating your own business or choosing to franchise with an experienced partner. Starting your business from the ground up has benefits; however, if you don’t have any previous business ownership experience, knowing where to start and how to grow your business can be intimidating, costly, and time-consuming.
The alternative to starting something from scratch is choosing the franchise route with a well-established brand like Winmark. Benefits of choosing to franchise include established brand recognition, being able to take advantage of a proven business model, and the support that your franchise partner can offer when it comes to site selection, business operations, and marketing you store location.
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3. Find the Right Support System
With any business opportunity, finding the support you need is a critical element of success. If you’ve decided that you’d like to take the solo path, you can lean on people in your professional network, such as business advisors, marketing agencies, or other entrepreneurs in your area.
If you’ve decided that franchising is right for you, the next step is finding the right partner. Winmark has been partnering with our franchisees for over 35 years and have established a proven track record of success with both first-time franchisees and experienced business owners alike. Over the last 10 years, 99% of our franchisees have renewed their agreements with us, meaning they’ve committed to another 10 years of partnering with our brands. Whether you’re a first-time business owner or a seasoned entrepreneur, you can follow all your entrepreneurial dreams when you partner with Winmark.
As the resale market continues to thrive, joining forces with Winmark offers an unprecedented opportunity to step into a booming industry with a franchisor that prioritizes our franchisees, values community connections, and promotes sustainable business practices. By opening a Winmark franchise, you not only gain access to a proven business model and extensive support network, but also become part of a movement that values environmental responsibility and community engagement. This is more than just business—it's about making a positive impact in your community while achieving your entrepreneurial dreams.
When you franchise with Winmark, you gain access to decades of experience, extensive support, and a proven business model to help you embark on a rewarding business venture. Contact us today to learn more about franchising with us.
