Winmark Corporation operates as a franchisor of value-oriented retail store concepts that buy, sell, trade, and consign merchandise. The company operates a middle-market equipment leasing business through its wholly owned subsidiary, Winmark Capital Corporation. Its middle-market leasing business serves large and medium-sized businesses and focuses on technology-based assets. The company generates middle-market equipment leases primarily through business alliances, equipment vendors and directly from customers. Additionally, the company operates a small-ticket financing business through its wholly owned subsidiary, Wirth Business Credit, Inc. The company’s small-ticket financing business serves small businesses. Franchise Operations Plato’s Closet Plato’s Closet stores buy and sell used clothing and accessories geared toward the teenage and young adult market. Customers have the opportunity to sell their used items to Plato’s Closet stores and to purchase clothing and accessories at prices lower than new merchandise. Once Upon A Child Once Upon A Child stores buy and sell used, and new children’s clothing, toys, furniture, equipment and accessories. This brand primarily targets parents of children ages infant to 12 years. These customers have the opportunity to sell their used children’s items to a Once Upon A Child store when outgrown and to purchase quality used children’s clothing, toys, furniture and equipment at prices lower than new merchandise. Play It Again Sports Play It Again Sports stores buy, sell, trade and consign used and new sporting goods, equipment and accessories for various athletic activities including team sports (baseball/softball, hockey, football, lacrosse, and soccer), fitness, ski/snowboard and golf among others. The stores offer a mix of merchandise that is adjusted to adapt to seasonal and regional differences. Music Go Round Music Go Round stores buy, sell, trade and consign used, and new musical instruments, speakers, amplifiers, music-related electronics and related accessories. Style Encore In 2013, the company announced the development of an additional retail concept focused on buying and selling used women’s apparel, shoes and accessories, branded as Style Encore. Customers have the opportunity to sell their used items to Style Encore stores and to purchase quality used clothing, shoes and accessories at prices lower than new merchandise. As of December 28, 2013, the company had awarded 38 franchises, of which 3 had opened their stores. Equipment Leasing Operations The company operates a middle-market leasing operation through Winmark Capital Corporation, a wholly owned subsidiary. It operates a small-ticket financing operation through Wirth Business Credit, Inc., a wholly owned subsidiary. Its middle-market lease products are marketed nationally through a principal office in Minneapolis, Minnesota and satellite office in Santa Barbara, California. The company markets leasing services directly to end-users and indirectly through business alliances, and through vendors of equipment, software, value-added services and consulting services. Winmark Capital Corporation Winmark Capital Corporation is engaged in the business of providing non-cancelable leases for high-technology and business-essential assets to both larger organizations and smaller, growing companies. The company focuses on transactions that have terms from two to four years and include high-technology equipment and/or business essential equipment, including computers, telecommunications equipment, storage systems, network equipment and other business-essential equipment. Business Strategy: Main elements of the company’s strategy include the following: maintaining a focused, long-term, customer-service approach to business; and servicing the equipment leasing needs of both large organizations, as well as smaller, growing companies. Wirth Business Credit, Inc. The company’s small-ticket financing operation serves the needs of small businesses. Small-ticket financing transactions are typically between $5,000 and $100,000, have terms of between 2 and 4 years and cover business essential assets, including computers, printing equipment, security systems, telecommunications equipment, production equipment and other assets. Trademarks and Service Marks Plato’s Closet, Play It Again Sports, Once Upon A Child, Music Go Round, Style Encore, Winmark, Winmark Business Solutions, Wirth Business Credit, Winmark Capital and LeaseManager, among others, are the company’s registered service marks. Seasonality The company’s Plato’s Closet and Once Upon A Child franchise brands have experienced higher than average sales volumes during the spring months and during the back to school season. Its Play It Again Sports franchise brand has experienced higher than average sales volumes during the winter season. Competition The company’s Plato’s Closet franchise stores primarily compete with specialty apparel stores such as Gap, Abercrombie & Fitch, Old Navy, Hollister and Forever 21. The company’s Play It Again Sports franchisees compete with retailers such as Dick’s Sporting Goods, The Sports Authority as well as regional and local sporting goods stores. It also competes with Target and Wal-Mart. The Once Upon A Child franchisees compete primarily with large retailers such as Babies “R” Us, Wal-Mart, Target and various specialty children’s retail stores such as Gap Kids. Its Music Go Round franchise stores compete with musical instrument retailers such as Guitar Center, as well as local independent musical instrument stores. History Winmark Corporation was founded in 1988. The company was incorporated in Minnesota in 1988.
winmark corp (GBZ:Berlin)
605 Highway 169 North
Minneapolis, MN 55441
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