As we reach the halfway point of the year, it's the perfect time to reflect on the success and growth of our franchise brands. Winmark - the Resale Company®, is proud to share our new accomplishments, recent news, and current sustainability statistics contributing to our success.
Celebrating Achievements and Recent News
We take pride in the achievements of our resale franchise locations. So far, we have seen many remarkable milestones and exciting developments that have propelled us forward this year. Some of the highlights include:
- Expansion of Our Store Footprint: With a focus on strategic growth, Winmark has continued to expand across the United States this year. We have opened new locations in thriving markets, allowing us to serve more communities with our sustainable business model. There are 1,297 franchises in operation, and over 2,800 territories are available, while an additional 70 franchises have been awarded but are not open yet.
- National Recognition: Winmark and our franchise brands have received more national recognition and accolades in 2023. From industry awards to media features, our commitment to excellence has not gone unnoticed. Our Once Upon A Child® brand won the 2023 Franchise Times ‘Zor Award, while Plato’s Closet® also made headlines as a finalist. Additionally, our brands have made the Entrepreneur Franchise 500 list of top franchises, continually positioning Winmark as a proud leader in resale.
Our Commitment to the Environment and Our Customers
The resale industry has witnessed remarkable growth this year too, driven by shifting consumer attitudes toward sustainability, affordability, and unique shopping experiences. Current trends have reflected this, as research suggests 81% of consumers plan to increase their purchases of eco-friendly items over the next five years, and 72% said they were already doing so compared to five years ago.
We also conducted our own survey to better understand consumer habits related to shopping, which showed 92% of respondents have shopped at second-hand, thrift, or resale shops and indicated 72% of people donate or sell their belongings to shops either occasionally or frequently.
At Winmark, we have embraced these trends wholeheartedly this year. Environmental consciousness and the benefits of a lucrative and growing resale market have continued to be significant driving forces in our business model. Recently, Winmark surpassed 1.5 billion items recycled in our resale stores, and as eco-friendly purchasing habits rise, resale concepts from our brands provide a win for both our customers and our franchisees.
Since more consumers are trending this way, it positions our franchisees to benefit from the evolving preferences of today's consumers.
Thriving Franchise Brands in the Resale Market
Winmark is proud to be home to five successful franchise brands, each making their mark in the resale market. Our five brands have all reached new specific heights by hitting record Average Unit Volumes this year and expanding into new territories. Here are some notable achievements from each of our brands:
- Plato's Closet ®: Our trendy teen and young adult clothing store continues to resonate with fashion-forward customers, offering them a unique shopping experience. This brand is also demonstrating remarkable value, as the AUV has reached $1,301,330*.
- Once Upon a Child ®: As a trusted destination for gently used children's items, Once Upon a Child has solidified its position as a go-to store for parents looking for quality products at affordable prices. The AUV for this brand is $1,172,636*.
- Style Encore ®: Our women's & men’s clothing and accessories store has gained a loyal following, catering to the demand for upscale, gently used fashion items. Style Encore empowers women & men to embrace their personal style without compromising their budget, and this results in the top quartile AUV now reaching $1,482,912*.
- Play It Again Sports ®: With a focus on sporting goods and equipment, Play It Again Sports connects athletes and sports enthusiasts with high-quality gear at exceptional prices. The brand's commitment to sustainability and community involvement resonates with customers, and the AUV is $1,186,825 in 2022*.
- Music Go Round ®: Our music equipment and instrument store offers musicians and music lovers a wide selection of used gear, fostering creativity and affordability within the music community. Music Go Round’s AUV has reached $1,289,906*.
This level of success across our brands is the result of our consistent investment in a proven business model that helps franchisees maintain strong store operations and make a lasting impact on their communities. As a leader in the resale industry, we have the experience to encourage repeat customers, implement inventory management best practices, and use technology to help our franchise partners. Together, we will continue to reshape the retail landscape and champion a more sustainable and customer-centric approach to shopping for the rest of 2023 and in the future.
Winmark is dedicated to guiding our franchisees down the road to successful business ownership. Contact us today to learn more about opening one of our stores in your area.
**As stated in Item 19 of the 2023 Plato’s Closet®, Once Upon A Child®, Style Encore®, Play It Again Sports® and Music Go Round® Franchise Disclosure Documents (based on 2022 Gross Sales as reported by the stores that had been in operation at least one year as of December 31, 2022). A new franchisee’s results will likely differ from these results.