Which Franchise Opportunity is Right for Me?
Which Franchise Opportunity is Right for Me?
Many aspiring business owners are drawn to Winmark Corporation® because of our long record of creating and growing successful franchise brands. While all five of our brands help reduce waste and save money for families, each has a distinct purpose and personality, making it important for potential franchisees to identify the best fit.
Looking to launch your own profitable business that gives back? Read on to see which Winmark concept meshes best with your objectives, personality and values:
A Winmark Quiz
Think about your answers to the following questions. At the bottom, we’ll help you get a better sense of how your interests align with our five resale brands.
1. Where are we most likely to find you on a weekend?
A. Packing up the kids for an affordable family outing
B. Scouring the Internet for local arts events
C. Browsing thrift stores with your daughter in search of the perfect vintage prom dress
D. Coaching your child’s sports team
E. Heading to the mall to see if that pricey outfit you love has gone on sale
2. I would get a lot of satisfaction from...
A. Helping a new mom find a car seat that fits her budget
B. Helping a 13-year-old buy his/her first guitar
C. Helping a teenager buy back-to-school clothes with the money from her first job
D. Helping a student find affordable lacrosse equipment so he can join the team
E. Helping a woman put together a wardrobe for her new job without breaking the bank
3. I like the idea of a resale business that…
A. Carries a variety of products – not just clothing
B. Has an e-Commerce presence
C. Carries highly trendy clothing and fast-moving inventory
D. Mixes new and used products
E. Offers a clothing resale experience tailored specifically for adult women
If You Chose Mostly “A”
Once Upon a Child®, our resale brand for children, sounds like a promising fit for you. Entrepreneur magazine named this concept the number one children’s retail franchise and the number 58 franchise brand overall. Families turn to Once Upon a Child when they need high-quality, gently used children’s clothing, toys and equipment at an affordable price. When their children outgrow certain items, they can come to the store, sell those items for cash and replace the outgrown clothing, accessories or toys with something new.
Keeping up with growing children can be costly and time-consuming. Once Upon a Child would provide a valuable outlet for families in your community to save money, reduce waste and provide their children with top-notch products and clothing.
If You Chose Mostly “B”
It looks like our music resale brand Music Go Round® is up your alley. Music Go Round is the largest seller of used musical instruments and gear in the world. Musicians of all levels come to Music Go Round for the ever-changing inventory packed with great deals on new and used music products. This concept helps make music and arts education accessible for people of all backgrounds.
With our wide-reaching e-Commerce presence, this brand and its franchisees will benefit from the continued growth of the music retail business. The average Music Go Round store saw a gross profit of $479,668 in 2017, and the top quartile of stores had an average gross profit of $789,067.
If You Chose Mostly “C”
Your answers mesh well with Plato’s Closet®, our resale brand for the teen to twenty-something demographic. Entrepreneur magazine named this brand the top retail clothing franchise in the nation and the number 97 franchise opportunity overall. This concept carries the trendy styles teen and young adults want at prices significantly lower than what they’d find at the mall. It also offers cash on the spot for any on-trend clothes they bring in, allowing them to trade in their current clothes for new ones. Plato’s Closet has helped countless young people walk into class feeling confident.
If You Chose Mostly “D”
Sounds like Play It Again Sports® might be a great franchise for you. Play it Again Sports carries a mix of new and used sports and fitness equipment for all ages. These stores supply the equipment for community leagues, fitness groups and pick-up games across the country – building healthier communities. They also help ensure that no child is excluded from sports because of pricey equipment.
If You Chose Mostly “E”
For you, Style Encore® might be a match made in heaven. Style Encore is our resale clothing brand for women who are fashion-forward and spending-savvy. This concepts buys and sells gently used women’s casual and business clothing, shoes, handbags and accessories in current styles. If a customer gets a new job, changes sizes or simply needs a fresh new outfit, Style Encore is the perfect place to find a wide variety of high-quality pieces at affordable prices.
After only five years in existence, Style Encore broke into Entrepreneur’s exclusive Franchisee 500 list, ranking number 196. The average Style Encore store saw an average gross profit of $383,078 in 2017 and the top quartile of stores had an average gross profit of $576,476.
To learn more about the financial performance and differentiators of our five resale brands, visit www.winmarkfranchises.com.
*The Music Go Round amounts are as stated in Item 19 of the 2018 Music Go Round® Franchise Disclosure Document (as reported by the 32 Music Go Round® stores that had been in operation at least one year as of December 30, 2017). Of the 32 reporting stores, 14 or 44% of the stores attained or exceeded the Average Gross Profit. The top quartile Average Gross Profit amount only relates to 8 of the reporting stores who ranked in the top 25% of the gross sales range. Of the 8 stores in the top quartile, 4 or 50% of the stores attained or exceeded the top quartile Average Gross Profit. The Style Encore® amounts are as stated in Item 19 of the 2018 Style Encore® Franchise Disclosure Document (as reported by the 50 Style Encore® stores that had been in operation at least one year as of December 30, 2017). Of the 50 reporting stores, 25 or 50% of the stores attained or exceeded the Average Gross Profit. The top quartile Average Gross Profit amount only relates to 12 of the reporting stores who ranked in the top 25% of the gross sales range. Of the 12 stores in the top quartile, 5 or 42% of the stores attained or exceeded the top quartile Average Gross Profit.