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May is National Small Business Month, a reason to celebrate that’s close to our hearts at Winmark. For more than 35 years, we’ve helped people become small business owners through our network of franchises, which includes more than 1,350 locations across North America.
Small businesses — those with fewer than 500 employees, according to the US Small Business Administration (SBA) — are a vital part of the American economy. There are roughly 33 million small businesses across the country, comprising 99.9% of all firms nationwide, SBA statistics show.
Sadly, 18% of small businesses fail within their first year for a variety of reasons. At Winmark, however, our mission to Provide Resale for Everyone® includes giving our franchisees unparalleled support, including the tools and knowledge to grant them the best foundation for success — and it shows. Over the last 10 years, 98.7% of our franchisees have renewed their franchise agreements with us.
Here’s how Winmark’s business model and support helps entrepreneurs seeking new opportunities and seasoned businesspeople find solid footing in an ever-changing marketplace.
The Superpower of Synergy
One reason Winmark thrives is its diverse yet interconnected network of brands. A one-size-fits-all approach can be tough to maintain as times and tastes change, but Winmark’s brands consistently appeal to people on a budget at different stages of life, providing new-to-them upcycled items and a way to earn extra cash for what they no longer need or want. For instance:
- At Once Upon A Child®, moms and dads can replace children’s apparel, baby gear and toys as quickly as their kids grow, in a clean and friendly resale environment.
- At Plato's Closet®, teens through twentysomethings can spring for trendy tops, jackets, jeans, jewelry and footwear for a night out, a first job or a fresh look at a discount.
- Style Encore® appeals to stylish women and men seeking brand-name casual and business clothing and accessories at affordable prices.
- Play It Again Sports® offers both new and quality used sporting goods — about a 60%-40% split, respectively — for active families cycling through team sports and individuals who want to outfit a home gym or get back into shape.
- Lastly, Music Go Round® sounds sweet to novice and seasoned musicians of all ages, with an extensive inventory of affordable instruments such as guitars, drums and keyboards and equipment such as microphones and amps.
Our brands have recycled more than 1.9 billion items since 2010, or roughly 185 million each year, a sustainable and purpose-driven business model that aligns both with consumers’ environmental awareness and the desire to support their communities.
Behind-the-Scenes Support Before Day One and Beyond
Key to that success is Winmark’s relationship with its franchisees. We offer industry-specific training and support before, during and long after a franchise’s opening day.
That includes assistance with areas such as:
- Business site selection
- Store design and layout
- Proprietary software to assist accurate pricing
- Inventory management
- Cloud-based system to streamline store operations
- Professional marketing to build local credibility
In addition, Winmark provides more than 3,000 support visits each year to franchisees; in some cases, representatives check in monthly to offer inventory management tips and discuss buying trends. Support staff is always on call whenever needed.
Perhaps most importantly, we funnel resources, time and money into our franchise locations, not corporate stores, giving our franchisees the confidence to learn and thrive as they grow.
Ready to start your own small business the Winmark way? Contact our team today to learn more about the Winmark resale experience and how we can assist you on your franchise journey.