Winmark

Last updated

Winmark Corporation
Formerly
  • Play It Again Sports Franchise Corporation (1988–1993)
  • Grow Biz International Inc. (1993–2001)
  • Winmark Corporation (2001–present)
Type Public
Nasdaq:  WINA
Russell 2000 Component
Founded1988;35 years ago (1988)
FoundersRon Olson and Jeffrey Dahlberg
Headquarters Minneapolis, Minnesota
Key people
Brett Heffes (CEO)
Divisions
  • Music Go Round
  • Once Upon a Child
  • Plato's Closet
  • Play It Again Sports
  • Style Encore
Subsidiaries Wirth Business Credit
Website winmarkcorporation.com OOjs UI icon edit-ltr-progressive.svg

Winmark Corporation is an American franchisor of five retail businesses that specialize in buying and selling used goods. The company is based in Minneapolis, Minnesota. Winmark was founded in 1988 as Play It Again Sports Franchise Corporation by Ron Olson and Jeffrey Dahlberg after they purchased the Play It Again Sports franchise rights from Martha Morris. They renamed the company to Grow Biz International Inc. in June 1993. Grow Biz went public in August 1993. In 2000, John Morgan replaced Dahlberg as CEO and renamed the company to Winmark in 2001. Morgan rescued Winmark from the verge of bankruptcy by selling financially failing franchise concepts and stores and replacing the management team. The company's strategy was to move from owning stores itself to having franchisees own all the stores.

Contents

Winmark Corporation owns five franchise-based retail companies that focus on used goods: Music Go Round (musical instruments), Once Upon a Child (children's clothes and toys), Plato's Closet (adolescent and young adult clothes), Play It Again Sports (sports equipment), and Style Encore (women's clothing). Winmark also owned but subsequently sold four franchise-based retailed companies: Computer Renaissance (computer equipment), Disc Go Round (CDs), It's About Game (computer games and video games), and ReTool (tools). Its subsidiary Wirth Business Credit is a small-business supplies leasing company.

Around 2013, research company IBISWorld reported that in the used goods outlet market, Goodwill Industries was first with a 21.5% share, Winmark was second with nearly 6%, and The Salvation Army was third with nearly 4%. In 2016, Winmark had a $1 billion market share in the $17 billion resell industry through its 1,170 franchisees.

History

Ron Olson and Jeffrey Dahlberg started a consulting firm, Franchise Business Systems, [1] in 1986. [2] Olson had been the president of R.J. Brandon Galleries and Dahlberg had been the chief executive officer of his father Kenneth H. Dahlberg's company, Dahlberg Inc. (now Miracle-Ear). [2] Martha Morris was an initial customer of Olson and Dahlberg's consulting company. [2] Morris, who started Play It Again Sports in 1983 in Uptown, Minneapolis, had purchased camping and backpacking supplies, found out she was not interested in camping, and decided to sell her used goods. [2] [3] She had attempted to sell a costly, lightly used backpack through making ads and visiting a sports shop, where an employee told her, "We don't sell used equipment." Morris decided to start her own store since she believed other people might have used sports equipment they would like to sell. [1]

Morris expressed a desire to make her idea a franchise. Although Olson and Dahlberg were first concerned about the idea's outlook for success, their worries disappeared after they dropped by her outlet a Saturday morning and found a line of 10 customers before Morris' store had even opened. [2] Their strategy to captivate franchisees was to add urbanity to something they called a "garage sale-looking environment" but not harm the initial idea. [2] Olson and Dahlberg quickly realized they preferred to be the owners of a company instead of be advisers. Morris sold her Play It Again Sports franchise rights to Olson and Dahlberg in 1988. She sold her stores to them in 1990. [2] Play It Again Sports became Winmark's first division. [3]

The company was incorporated as Play It Again Sports Franchise Corporation in 1988 [3] and was renamed to Grow Biz International Inc. in June 1993. [2] It went public in August 1993. [2] [4] The company was listed on NASDAQ as GBIZ; [5] it is now listed on NASDAQ as WINA. [6] In 1995, a significant number of the company's franchises were on Entrepreneur 's annual "Franchise 500" list. [3] In 2001, Grow Biz was renamed to Winmark Corporation. [7] [8] Winmark Corporation is based in Minneapolis, Minnesota. [9]

In March 2000, John Morgan took over as CEO from Jeff Dahlberg. [7] By a year after joining the company as CEO, Morgan rescued Winmark from the precipice of bankruptcy by introducing stringent review of franchisee finances, shuttering failing Play It Again Sports stores, and appointing his own people to executive and board positions. [10] Morgan chose Steve Briggs, who had been at Valspar, as the company's president. He selected as board members Kirk MacKenzie, whom he had worked with at Winthrop Resources, and Paul Reyelts, the chief financial officer at Valspar. [11] In June 2000, Winmark sold its corporate headquarters building to Koch Trucking. [12] The company had lost $350,700 in 2000; in 2001, it had a net income of $3.2 million. [13] Morgan said in a 2009 interview with the Star Tribune about the state of Winmark before he joined, "The company was very good at selling franchises, but it was still losing money." [4] Around 2002, Winmark sold the franchises Retool, Computer Renaissance and Disc-Go-Round. [14]

In 2011, Winmark was ranked the 11th company on Forbes 's "The Top 20 Small Public Companies In America". [15] Around 2013, research company IBISWorld found that in the used goods outlet market, Goodwill Industries was first with a 21.5% share, Winmark was second with nearly 6%, and The Salvation Army was third with nearly 4%. [16] In 2016, the company had a $1 billion market share in the $17 billion resell industry through its 1,170 franchisees. [17]

In February 2016, President Brett Heffes was chosen as Winmark's next CEO, succeeding John Morgan, who became the executive chairman. [18] According to a 2014 article in The Toronto Star , Morgan holds the most shares in the company. [19]

Franchises

Winmark Corporation owns five franchise-based retail companies that focus on used goods: Music Go Round (musical instruments), Once Upon a Child (children's clothes and toys), Plato's Closet (adolescent and young adult clothes), Play It Again Sports (sports equipment), and Style Encore (women's clothing). [20] [21] Winmark sold four franchise-based retailed companies: Computer Renaissance (computer equipment), Disc Go Round (CDs), It's About Game (computer games and video games), and ReTool (tools).

The cost to become a franchisee in 2009 was $25,000 and five percent of the franchisee's gross revenue. [4] Franchisees further are required to pay Winmark for advertising and miscellaneous assistance. [19] Although Winmark's contract with franchisees does not allot them territories, the contract ensures that any rival outlets must be located five or more miles away. [22]

Despite Winmark's specializing in used goods, its stores sell new goods too. [4] Through its many stores, Winmark uses its buying power to negotiate competitive prices for the stores' new goods. [23] It also teaches franchisees about the used goods industry and offers pricing software to establish standards for the used goods they purchase. [23]

Between 2006 and 2010, Winmark started around 50 stores annually. [24] In 2013, Winmark had over 1,000 franchised stores—none of which it owned—that in total had sales of over $900 million. [7]

Current franchises

Music Go Round

Music Go Round purchases, sells, and exchanges used musical instruments and paraphernalia. [25] Founded as Hi-Tech Consignments in Minneapolis by Bill Shell in 1986, Winmark purchased it in 1993 and renamed it to Music Go Round. [5] [26] In 2009, roughly 30% of Music Go Round's musical instruments purchased were new. [4] In 2011, it had 35 locations in the United States. [25] In 2010, the complete cost to start a Music Go Round was $300,000 and the average yearly sales were between $650,000 and $725,000. [24]

Once Upon a Child

Once Upon a Child purchases and sells used children's attire and toys. [25] The first Once Upon a Child store was opened in 1985 in Perrysburg, Ohio, by Dennis and Lynn Blum in 1985 after they observed Goodwill Industries accepting and selling used baby attire. [27] Prior to opening a store, Lynn Blum had been selling her three sons' and friends' and neighbors' clothing in a garage sale from her house every week. Her husband resigned from his employment in 1989 to work with Lynn . [28] Winmark purchased the company in 1992. In 2009, roughly 10% of Once Upon a Child's children's attire and playthings purchased were new. [4] In 2011, it had 240 locations in the United States and 24 in Canada. [25] In 2010, the complete cost to start a Once Upon a Child was between $200,000 and $250,000 and the average yearly sales were between $650,000 and $725,000. [24]

Plato's Closet

Plato's Closet purchases and sells used brand name teenager and young adult clothing, shoes, and paraphernalia. [25] It focuses on clothes for people ages 12 to 24. [29] [30] Winmark purchased Plato's Closet from Dennis and Lynn Blum, the founders of Once Upon a Child, in 1998. [27] [31] The store's name was inspired by a Blum son's schoolwork about Plato who had been an early advocate of recycling, which paralleled the aim to recycle used clothes. [27] [31] In 2011, there were over 280 franchisees in the United States and Canada. [25] In 2010, the complete cost to start a Plato's Closet was between $200,000 and $250,000 and the average yearly sales were $825,000. [24]

A 2001 article in the Star Tribune noted that Plato's Closet in 2001 stocked up on brand names such as Abercrombie & Fitch, Gap Inc., Silver Jeans Co., Sean John, Express, Inc., and Dr. Martens that they sold at a markdown of between 50% and 75%. [14] Unlike consignment shops, Plato's Closet pays sellers on the spot. [14] Used clothes are purchased at between 30% and 40% of what Plato's Closet intends to sell them at. [29] In a 2009 interview with Star Tribune , CEO John Morgan said Plato's Closet did the best during the Great Recession among Winmark's franchises because people were more likely to sell used clothing to make money and to buy used clothing to save money. [4]

Play It Again Sports

Play It Again Sports purchases and sells used sports goods and is Winmark's largest chain. [4] [25] Roughly 70% of Play It Again Sports' sports equipment is new. [4] In 2011, it had over 330 locations in the United States and Canada. [25] In 2010, the complete cost to start a Play It Again Sports was $300,000 and the average yearly sales were between $650,000 and $725,000. [24]

Style Encore

Style Encore buys and sells used women's clothing. In January 2013, Winmark announced that it would start a new franchise, Style Encore, that would focus on used women's clothing. The first store opened in Texas in August 2013. [21] Style Encore immediately pays cash to people looking to sell used women's attire, footwear, handbags, and jewelry. [32]

Former franchises

Computer Renaissance

Computer Renaissance bought and sold new and used computer supplies such as computers, computer memory, computer monitors, and printers. [33] The store also sold computer games and books and helped customers build custom computers. [34] Computer Renaissance was started in 1993. [35] On July 7, 2000, Winmark sold Computer Renaissance, which had 209 stores, to Jack Hollis' Hollis Technologies LLC in Lakeland, Florida, for $3 million. Hollis had been a Computer Renaissance franchisee. [12] CEO John Morgan said that whereas Music Go Round's used musical equipment did not depreciate, Computer Renaissance's aging computers did. [36]

Disc Go Round

Disc Go Round bought and sold new and used compact discs (CDs). [2] In July 1994, Winmark spent $2.3 million to purchase CDX Audio, which used the name CD Exchange in Green Bay, Wisconsin. When Winmark purchased the company, it had 42 stores. [2] [37] Winmark renamed the used CD store to Disc Go Round because they could not nationally trademark the name "CD Exchange". [38] The outlet had an electronic system that recorded all the CDs a store had so customers did not have to browse the shelves trying to determine whether a particular CD was present. [38] Disc Go Around also had "listening stations" for customers to listen to CDs. [38] Winmark sold Disc Go Round, which had increased to 137 stores, to CD Warehouse on June 26, 1998, for $7.4 million. [37]

It's About Games

It's About Games bought and sold used PC games, video games, and board games. [5] It was founded in Cleveland as Video Game Exchange in 1990 and grew to 83 stores by the end of 1994, but its excessive expansion resulted in a Chapter 11 bankruptcy in February 1995 and the closure of half its stores. [39] [40] Winmark spent roughly $6.8 million to acquire Video Game Exchange in 1997 and renamed it to It's About Games. It's About Games locations were largely in Ohio, Pennsylvania, Kentucky, Georgia and Maryland. It made money for Winmark until 1998. During its last year under Winmark management, It's About Games lost $3.4 million due to excessive inventory, a buggy computer system, poorly chosen products, and improperly trained employees. Winmark owned 60 of the 64 It's About Games stores in the franchise and would have been profitable without It's About Games. Winmark sold or closed all its It's About Games stores in 1999 to reduce losses. Winmark also aimed to cut down on the number of stores it owned because it wanted to focus on franchisee-owned stores. [41] [42]

ReTool

ReTool bought and sold used tools. Winmark opened the first ReTool on November 10, 1999, in Chicago. [43] Roughly 65% of ReTool's goods were purchased from people, while the remainder was purchased from factories that produced too many tools or from closing businesses. [44] CEO John Morgan said in an October 2000 interview that many people did not sell tools they did not use so it was hard to accumulate used tools at ReTool. [36] Winmark sold ReTool around 2002. [14]

Subsidiaries

Wirth Business Credit

Wirth Business Credit is a small-business supplies leasing company owned by Winmark. [6] [9] In a 2008 interview with the Star Tribune , CEO John Morgan said Winmark plowed the $9 million to $10 million in profit from its franchisees into Wirth Business Credit because they believed leasing supplies will become a profitable business even though the current growth had been slow. [10] In 2008, there were 27 Wirth Business Credit franchises. [10]

In 2004, Winmark created Winmark Business Solutions, a website for small businesses owners. [9] Winmark Business Solutions was intended to help franchisees and clients of Wirth Business Credit. The website hosted 6,000 pages related to business such as how to found a company and how to sell a company. It had a forum for people to discuss small business issues and its articles also discussed finance, insurance, and technology topics with a focus on business. [9]

Related Research Articles

Tandy Corporation was an American family-owned leather-goods company based in Fort Worth, Texas, United States. Tandy Leather was founded in 1919 as a leather supply store. By the end of the 1950s, under the tutelage of then-CEO Charles Tandy, the company expanded into the hobby market, making leather moccasins and coin purses, making huge sales among Scouts, leading to a fast growth in sales.

<span class="mw-page-title-main">Convenience store</span> Small store that stocks a range of everyday items

A convenience store, bodega, convenience shop, corner store or corner shop is a small retail store that stocks a range of everyday items such as coffee, groceries, fruits, vegetables, snacks, confectionery, soft drinks, ice creams, tobacco products, lottery tickets, over-the-counter drugs, toiletries, newspapers and magazines. In some jurisdictions, convenience stores are licensed to sell alcoholic drinks, although many jurisdictions limit such beverages to those with relatively low alcohol content, like beer and wine. The stores may also offer money order and wire transfer services, along with the use of a fax machine or photocopier for a small per-copy cost. Some also sell tickets or recharge smart cards, e.g. OPUS cards in Montreal or include a small deli. They differ from general stores and village shops in that they are not in a rural location and are used as a convenient supplement to larger stores.

<span class="mw-page-title-main">Canadian Tire</span> Canadian retail company

Canadian Tire Corporation, Limited is a Canadian retail company which operates in the automotive, hardware, sports, leisure and housewares sectors. Its Canadian operations include: Canadian Tire, Mark's, FGL Sports, PartSource, and the Canadian operations of Party City. Canadian Tire acquired the Norwegian clothing and textile company Helly Hansen from the Ontario Teachers' Pension Plan in 2018.

Kohl's is an American department store retail chain, operated by Kohl's Corporation. As of December 2021 it is the largest department store chain in the United States, with 1,165 locations, operating stores in every U.S. state except Hawaii. The company was founded by Polish immigrant Maxwell Kohl, who opened a corner grocery store in Milwaukee, Wisconsin, in 1927. It went on to become a successful chain in the local area, and in 1962 the company branched out by opening its first department store. British American Tobacco Company took a controlling interest in the company in 1972 while still managed by the Kohl Family, and in 1979, the corporation was sold to BATUS Inc. A group of investors purchased the company in 1986 from British American Tobacco and took it public in 1992.

<span class="mw-page-title-main">Surplus store</span> Business that sells excess supply

A surplus store or disposals store is a business that sells items and goods that are used, purchased but unused, or past their use by date, and are no longer needed due to excess supply, decommissioning, or obsolescence. The surplus sold is often military, government, or industrial goods; in the case of the former two, the business is usually called a military surplus store, government surplus store, war surplus store, or army-navy store.

<span class="mw-page-title-main">Hardware store</span> Store that sells household hardware for home improvement

Hardware stores, sometimes known as DIY stores, sell household hardware for home improvement including: fasteners, building materials, hand tools, power tools, keys, locks, hinges, chains, plumbing supplies, electrical supplies, cleaning products, housewares, tools, utensils, paint, and lawn and garden products directly to consumers for use at home or for business. Many hardware stores have specialty departments unique to its region or its owner's interests. These departments include hunting and fishing supplies, plants and nursery products, marine and boating supplies, pet food and supplies, farm and ranch supplies including animal feed, swimming pool chemicals, homebrewing supplies and canning supplies. The five largest hardware retailers in the world are The Home Depot, Lowe's, Kingfisher of the United Kingdom, Obi of Germany, and Leroy Merlin of France.

A discount store or discounter offers a retail format in which products are sold at prices that are in principle lower than an actual or supposed "full retail price". Discounters rely on bulk purchasing and efficient distribution to keep down costs.

<span class="mw-page-title-main">Used good</span> Item that is not new being sold or transferred

Used goods, also known as secondhand goods, are any item of personal property offered for sale not as new, including metals in any form except coins that are legal tender, but excluding books, magazines, and postage stamps. Used goods may also be handed down, especially among family or close friends, as a hand-me-down.

<span class="mw-page-title-main">British Home Stores</span> Former British department store chain

British Home Stores, commonly abbreviated to BHS and latterly legally styled BHS Ltd, was a British department store chain, primarily selling clothing and household items. In its later years, the company began to expand into furniture, electronics, entertainment, convenience groceries and fragrance and beauty products.

Ben Franklin is a chain of five and dime and arts and crafts stores found primarily in small towns throughout the United States, currently owned by Promotions Unlimited of Mount Pleasant, Wisconsin. They are organized using a franchise system, with individual stores owned by independent proprietors. It was perhaps the first retail franchise, starting in 1927. They are named after Benjamin Franklin, taking a cue in their merchandise offerings from Franklin's saying, "A penny saved is a penny earned."

SuperValu, Inc., was an American wholesaler and retailer of grocery products. The company, formerly headquartered in the Minneapolis suburb of Eden Prairie, Minnesota, had been in business since 1926. It is a wholly owned subsidiary of United Natural Foods (UNFI).

<span class="mw-page-title-main">Jimmy John's</span> American sandwich chain

Jimmy John's is an American sandwich chain headquartered in Champaign, Illinois. The business was founded by Jimmy John Liautaud in 1983. After Liautaud graduated from high school, his father gave him a choice to either join the military or start a business. Liautaud, choosing the latter, initially decided to start a hot dog business, but was changed to opening a sandwich business due to costs.

<span class="mw-page-title-main">Dick's Sporting Goods</span> American sporting goods retailing corporation

Dick's Sporting Goods, Inc. is an American chain of sporting goods stores founded in 1948 by Richard "Dick" Stack. It is the largest sporting goods retailer in the United States, and is listed on the Fortune 500.

<span class="mw-page-title-main">Sports Authority</span> Defunct American sporting goods retailer

Sports Authority, Inc. was an American sports retailer. At its peak, Sports Authority operated 463 stores in 45 States and Puerto Rico. The company's website was on the GSI Commerce platform and supported the retail stores as well as other multi-channel programs. A joint venture with ÆON Co., Ltd., operates "Sports Authority" stores in Japan under a licensing agreement.

Harvey Norman is a large Australian-based, multi-national retailer of furniture, bedding, computers, communications and consumer electrical products. It mainly operates as a franchise, with the main brand and all company-operated stores owned by ASX-listed Harvey Norman Holdings Limited. As of 2022, there are 304 company-owned and franchised stores in Australia, New Zealand, Europe and South-East Asia operating under the Harvey Norman, Domayne and Joyce Mayne brands in Australia, and under the Harvey Norman brand overseas.

<span class="mw-page-title-main">Galyan's</span>

Galyan's Trading Company was an American sporting goods chain. It was founded in Plainfield, Indiana.

<span class="mw-page-title-main">White Hen Pantry</span> Defunct convenience store chain

White Hen Pantry was a Lombard, Illinois-based chain of approximately 261 predominantly franchisee-owned convenience stores located in and around Detroit, Boston / southern New Hampshire, southern Wisconsin, northwest Indiana and central Illinois areas of the United States. Most of the stores were open 24 hours and offered an array of standard convenience store fare such as coffees, cappuccinos, frozen and dry goods and toiletries. Many also had full delis serving boxed sandwiches and salads, name-brand meats and cheeses and fresh fruits and vegetables. White Hen's array of services included catering options and sales of external holiday gift cards. Most stores also had ATMs and sold lottery tickets; White Hen was the largest ticket vendor of the Illinois Lottery before being acquired by 7-Eleven.

Oberweis Dairy, headquartered in North Aurora, Illinois, is the parent company of several dairy-related and fast food restaurant operations in the midwest region of the United States. Its businesses include a home delivery service available in parts of Illinois, Indiana, Missouri, Michigan, North Carolina, Texas, and Wisconsin, which delivers traditional dairy products, including milk, ice cream, cheese, and yogurt, as well as bacon and seasonal products.

Household goods are goods and products used within households. They are the tangible and movable personal property placed in the rooms of a house, such as a bed or refrigerator.

Sears Hometown and Outlet Stores Inc. was an American retail company that sold home appliances, lawn and garden equipment, apparel, mattresses, sporting goods, and tools. The company had four subsidiary store formats: Sears Hometown, Sears Outlet, Sears Hardware and Appliance, and Sears Home Appliance Showrooms. Sears Hometown and Outlet Stores is based in Hoffman Estates, Illinois. Sears Hometown and Outlet Stores was founded in April 2012. The company was a spun off from Sears Holdings in 2012. By May 2019, Sears Hometown and Outlet Stores and its independent dealers and independent franchisees operated a total of 639 stores across 49 states as well as in Puerto Rico and Bermuda. On June 3, 2019, it was announced that Transform Holdco would acquire Sears Hometown and Outlet Stores. As per the deal, Sears Hometown needed to divest its Sears Outlet division to gain approval. The company ceased to exist on October 23, 2019, when Franchise Group acquired the Sears Outlet division and Transform Holdco acquired the rest of the company.

References

  1. 1 2 Feuerbach, Lynn (1997-04-20). "Something Old Something New – Used merchandise chain finds success in Cedar Rapids". The Gazette . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  2. 1 2 3 4 5 6 7 8 9 10 11 McCartney, Jim (1995-06-11). "Large-Scale Garage Sale//Grow Biz International, With Its Five Franchise Concepts That Push Used and New Merchandise, Is Still on a Massive and Much-Touted Growth Spurt. But Rapid Growth Has Come with its Share of Problems for the Golden Valley Firm". St. Paul Pioneer Press . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  3. 1 2 3 4 Bust, Will (2007-10-08). "Trio of Used-Product Franchises Flourish in the Metro-East". Belleville News-Democrat . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  4. 1 2 3 4 5 6 7 8 9 Walden, Gene (2009-02-02). "Used merchandise a hit for Winmark – Income for the Minneapolis owner of such franchise-based businesses as Music Go Round and Play It Again Sports is growing during recession". Star Tribune . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  5. 1 2 3 Campbell, Genie (1997-08-10). "Previously Played and Profitable. Business is Brisk at Used Instrument Store in Madison". Wisconsin State Journal . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  6. 1 2 Pesquera, Adolfo (2006-12-20). "Credit where credit is due". San Antonio Express-News . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  7. 1 2 3 Wehrwein, Sven (2013-10-04). "Candid Winmark leader John Morgan has no filter". MinnPost . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  8. ↑ Okon, Bob (2006-05-28). "Play It Again Sports . again". The Herald-News . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  9. 1 2 3 4 Nelson, Todd (2009-11-06). "Like a business adviser on your desktop – Website wbsonline.com is free now, but owner Winmark hopes to turn a profit with it eventually". Star Tribune . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  10. 1 2 3 Crosby, Jackie (2008-08-03). "Heard on the prairie – The secondhand-store company looks to equipping offices for increased success". Star Tribune . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  11. ↑ St. Anthony, Neal (2004-04-10). "Once again, Morgan delivers the goods – Under his control, Winmark posts record earnings". Star Tribune . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  12. 1 2 Moore, Janet (2000-07-08). "For $3 million, Grow Biz sells Computer Renaissance concept". Star Tribune . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  13. ↑ Daniel, Fran (2002-08-21). "No Stopping Them – Couple Continue to Reuse the Idea of Opening Recycled-Clothes Stores". Winston-Salem Journal . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  14. 1 2 3 4 Ewoldt, John (2002-08-08). "Dollars & Sense – Frugal Fashions – At Plato's Closet, everything from Abercrombie to Zumiez sells for a fraction of retail. Just don't tell teens it's used". Star Tribune . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  15. ↑ Radford, Bill (2012-03-16). "Wave of resale, consignment shops pops up in Springs". The Gazette . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  16. ↑ Valverde, Miriam (2013-04-04). "Plato's Closet opens in Fort Lauderdale, selling and buying trendy apparel". Sun-Sentinel . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  17. ↑ O'Connell, Jon (2016-08-07). "Reselling goods is big business in U.S." The Scranton Times-Tribune . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  18. ↑ Reyes, Robin (2016-02-25). "Winmark Names President Brett Heffes as New CEO, Succeeding John Morgan". Sonoran Weekly Review . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  19. 1 2 Kopun, Francine (2014-03-14). "Can selling second-hand clothes be profitable?". Toronto Star . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  20. ↑ Smith, Kevin (2013-01-24). "Winmark to open resale stores in the San Gabriel Valley". Pasadena Star-News . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  21. 1 2 Webb, Tom (2014-05-28). "Eagan's Style Encore offers curtain call for used clothing". St. Paul Pioneer Press . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  22. ↑ Nelson, Jonathan (2008-04-17). "'Very picky' Plato's". The Columbian . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  23. 1 2 Okon, Bob (2003-04-27). "Bursting at the seams – Store: Once Upon a Child moving to new location". The Herald-News . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  24. 1 2 3 4 5 Nixon, Alex (2010-08-27). "Franchise opportunities open with Winmark". Kalamazoo Gazette . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  25. 1 2 3 4 5 6 7 8 Hughes, Christopher J. (2011-05-08). "Winmark branches out". Times Leader . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  26. ↑ McCartney, Jim (1998-09-23). "Playing a New Tune//A Strong Economy Has Made Franchising a Less Popular Business Option. Franchisor Music Go Round is Adjusting to that Reality by Operating More Corporately Owned Stores". St. Paul Pioneer Press . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  27. 1 2 3 Nevius, C.W. (2005-06-10). "Dublin: Plato's Closet resells 'in' clothes before they are 'out'". San Francisco Chronicle . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  28. ↑ Yeomans, Michael (2002-07-10). "Some new clothing chains happy to take the shirt off your back". Pittsburgh Tribune-Review . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  29. 1 2 Maben, Scott (2009-08-07). "New Plato's Closet coming". The Spokesman-Review . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  30. ↑ Wells, Devona (2005-10-06). "Retailer's resales hit Inland area". The Press-Enterprise . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  31. 1 2 Verdon, Joan (2003-10-31). "Store turns used teen clothes into gold". The Record . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  32. ↑ Neyens, Deborah (2016-02-08). "Ground Floor: Cedar Rapids couple finds retail resale to be good fit. Style Encore buys, sells women's apparel". The Gazette . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  33. ↑ Hostetter, George (1997-10-21). "Used-Computer Chain Opens Clovis Outlet. Computer Renaissance Opens First Valley Store in Clovis". The Fresno Bee . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  34. ↑ Hunt, Mary Beth (1996-06-14). "Selling high tech without high price". Tampa Bay Times . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  35. ↑ Chang, Ellen Y. (1996-07-08). "Store Will Buy, Sell Used PCs: Franchiser Will Open in City July 23". The Journal Gazette . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  36. 1 2 Maler, Kevin (2000-10-22). "C.H. Robinson Worldwide's Stock Stays on the Move, Should Continue to Grow". St. Paul Pioneer Press . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  37. 1 2 Hogan, Gypsy (1998-06-18). "CD Warehouse Makes Acquisition". The Oklahoman . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  38. 1 2 3 Ford, George C. (1994-10-23). "Men make 'sound' investment selling used CDs". The Gazette . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  39. ↑ "Grow Biz to buy video game retailer". The Marion Star . July 8, 1997. p. 18. Retrieved March 6, 2022– via Newspapers.com.
  40. ↑ Levy, Melissa (August 5, 1997). "Computer Renaissance gives new life to used computers". Star Tribune . p. 28. Retrieved March 6, 2022– via Newspapers.com.
  41. ↑ Moore, Janet (October 15, 1999). "Grow Biz to sell games chain". Star Tribune . p. 49. Retrieved March 6, 2022– via Newspapers.com.
  42. ↑ Moore, Janet (October 15, 1999). "Series of mistakes led chain to have abysmal Christmas". Star Tribune . p. 56. Retrieved March 6, 2022– via Newspapers.com.
  43. ↑ Peters, Jim (1999-11-11). "Company Launches Store That Sells Used Tools". The Herald-News . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
  44. ↑ Bond, Pati (1999-11-19). "Tool recycle franchise a boon for the handy". The Atlanta Journal-Constitution . Archived from the original on 2016-09-06. Retrieved 2016-09-06.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.