As a franchisor and a retailer, we feel for our peers in the retail space the past few years as many nationally known brands are laying off, reorganizing or just simply going away altogether in liquidation events. While e-commerce, the weather, competition and the economy have all played a part in their demise, if you dig beneath the numbers, many times the failing is in the capital structure of the parent company or multiple failings inside the four walls in staying relevant and in touch with their customer base. Whatever the reason, nobody likes to see businesses fail – especially since people lose jobs, livelihoods and careers in the process.
The list of failing or failed retailers is long – most recently the liquidation announcements of The Sports Authority and Sports Chalet, joining the liquidations or reorganizations of many other famed retailers including Pac Sun, Circuit City, Kmart, Borders, American Apparel, Wet Seal, Linens & Things, Radio Shack, and more joined the fray.
Retail is a tough business, and losing a job is never easy. But each of these retail employees has character traits that align extremely well with franchise ownership. Work ethic, job knowledge and experience, customer service orientation, and working in a team environment are all major contributors to building a successful franchise. Combined with the obvious passion you have for retail, take into consideration that you bring a lot to the table as a franchise partner. Given that there are over 3,500 franchises to choose from, you combine your aligned attributes with the right concept, and you have a winning formula that takes your specific skill set and allows you to apply it while becoming your own boss and taking control of your future.
Winmark is the parent company of Play It Again Sports, Plato’s Closet, Once Upon A Child, Style Encore and Music Go Round. Combined we have over 800 franchisees and almost 1,200 franchised retail stores in North America. We would welcome the opportunity to be a part of you next career – reach out to us and let’s see if it’s a fit!
And regardless of your next move, as fellow retailers we want to acknowledge your contributions over the years and wish you all the best in your next endeavor.