When it comes to franchising, one of the important decisions you’ll make is choosing an industry. There are franchises available in all sorts of industries like food and beverage, home services, healthcare and, of course, retail.
Each industry has sub-categories. Take food and beverage, for instance. Operating a fast food chain would be slightly different from a full-service restaurant. They each have different trends and outcomes, and the same is true in retail. Owning a resale store is similar to owning a retail store, but it does have some niche processes, benefits and its very own market.
In fact, the resale industry in the U.S. is currently worth over $17.5 billion and is only expected to grow. This is largely due to its affordability, sustainability and trendiness.
The Latest Styles for Affordable Prices
Who says you can’t be trendy and save money? For over 30 years, Winmark - the Resale Company® has offered families a quality and affordable alternative to higher-priced department stores.
Due to inflation impacted by the COVID-19 pandemic, retail prices are increasing as well. Resale, however, is an affordable and sustainable solution to constantly buying new items as sizes, preferences and economic conditions change. This is especially helpful to families, as any parent will tell you that kids outgrow their old clothes, toys, sports equipment and accessories in the blink of an eye.
Recent reports have stated that 16-18% of American consumers shop at thrift stores each year, compared to only 11.4% shopping in factory outlet malls. This percentage of thrift shoppers is also less than 2% below apparel stores and only 3.3% below major department stores, and according to experts, it’s only a matter of time before resale surpasses them.
More Consumers are “Going Green” Through Resale Shopping
Reduce, reuse, recycle. Resale stores accomplish all three of the criteria for “going green,” and customers are proud to support them. The two largest consumer groups - Millennials and Gen Z’ers - are especially concerned with their environmental impact.
In 2020, 48% of Americans reported buying an item through resale, and Coresight recently concluded that 29% of consumers said environmental sustainability is more of a factor in their shopping choices than it was pre-pandemic.
Plus, online resale shopping is more popular than ever. Winmark offers an e-commerce shopping platform, so customers don’t have to leave home to shop for gently and quality used products.
Resale Franchises Offer Style, Convenience and Variety
As more Americans turn to more economical and sustainable options, they realize that shopping resale gives them access to just as much style, convenience and variety as they’d get at any other retail store.
Between Winmark’s five resale brands, there are options for everyone. Because customers are selling their gently used items every day, resale stores have a carousel of diverse products to add to their shelves regularly.
Not only can customers come in any day and find something unique and exciting, but they can also earn some cash for their gently used items as well.
Additionally, many resale stores are localized with items specifically for their markets. For instance, Play It Again Sports stores that are located in cold, winter climates may carry more skis and hockey gear while those located in warmer climates are likely to carry more watersport and baseball equipment.
With recent estimates predicting that the resale market will surpass $64 billion by 2028, there’s never been a better time to open your own store.
Contact us today to learn more about opening a store with Winmark - the Resale Company.