Once Upon A Child® and Plato’s Closet® Rated Top Retail Franchises by Entrepreneur Magazine for 3rd Consecutive Year
For the Seventh Year in a Row, Both Resale Brands Rank in the Top 175 on the Magazine’s Reputable Franchise 500® List as Consumers Increasingly Seek High Quality Resale Shopping Options
February 02, 2017 // Franchising.com // MINNEAPOLIS - For the third consecutive year, Entrepreneur magazine has named Once Upon A Child® the top children’s retail franchise and Plato’s Closet® the top retail franchise in the nation. The two fast-growing resale brands geared respectively toward children and teens to twenty-somethings ranked No. 116 and No. 151 in the publication’s 2017 Franchise 500 list of the nation’s top franchise opportunities.
The Franchise 500 rated the resale brands high for exceptional performance across a number of key performance areas, including financial strength and stability, growth rate and size of the franchise system. The most recent franchise disclosure documents for both Once Upon A Child and Plato’s Closet show the average store achieving sales of nearly $1 million, with the top quartile of stores producing an average sales volume of nearly $1.5 million. Both brands have ranked consecutively on the list for 15 years.
“Our continued high placement in Entrepreneur’s Franchise 500 ranking demonstrates the strength of our franchise systems and outstanding group of franchisees, whose growth is fueled by strong consumer demand,” said Steve Murphy, president of franchising for Winmark Corporation, Twin Cities-based parent company of popular resale franchises Plato’s Closet, Once Upon A Child, Play It Again Sports®, Style Encore® and Music Go Round®.
Winmark Corporation has been the top player in the $17 billion resale sector for nearly three decades. The Company closed out 2016 with 1,186 franchises in operation under its retail brands, as well as an additional 74 retail franchises that have been awarded but are currently not open. Its resale brands also recycled more than 140 million items last year into local communities by reselling quality used merchandise back to its customers.
Murphy added, “Resale shopping appeals to a wide range of demographics and income levels, and our niche retail brands offer growing families across North America the ability to find high quality, gently used merchandise for everything from clothing to sports equipment and music gear. Each of our concepts are leaders in their respective niches and set the benchmark for industry standards.”
The Play It Again Sports brand is the largest sporting goods retailer specializing in new and used merchandise. Style Encore is recognized as one of the fastest growing women’s franchise brands in North America. And, Music Go Round remains the largest seller of used and new musical instruments in North America.
Winmark Corporation has solidified its strong position by delivering consumers an in-store experience that is unparalleled in the resale space. The Company’s high standards of providing quality, gently used merchandise in a clean, welcoming environment is a distinguished characteristic that sets it apart from other resale concepts in the marketplace, and has been a key driver in both consumer and franchise growth. Nearly all of its franchisees were customers prior to opening their own store.
For example, Style Encore and Once Upon A Child franchisees Cyndi Seruntine and Tracie Grubb were drawn to opening their own location the instant they walked into a Once Upon A Child. Grubb said, “I was on the hunt for a few baby gates and wanted to get a good deal. After countless dead ends and numerous recommendations to try Once Upon A Child, my mom and I decided to visit a nearby location. We were in complete awe the second we walked into the store. It was a resale store, but it was organized, clean and smelled good. We left finding our deal and immediately began looking into franchise opportunities with the brand.”
About Winmark Corporation
Winmark Corporation, based in Minneapolis, creates, supports and finances business. Specializing in leasing and developing franchises for retail stores that buy, sell, and trade new and used merchandise, it is the parent company of Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Music Go Round®, Style Encore®, Wirth Business Credit® and Winmark Capital®. As of December 31, 2016, there were 1,186 franchises in operation under the company’s retail brands, as well as an additional 74 retail franchises that have been awarded but are not open. For more information visit www.winmarkcorporation.com and www.winmarkfranchises.com.
About Once Upon A Child®
Once Upon A Child® leads the nation in the buying and selling of gently used kids’ stuff. With more than 345 franchised stores in the United States and Canada, Once Upon A Child buys and sells quality, gently used children’s apparel, baby equipment, footwear, books, toys, and more. Once Upon A Child is franchised by Winmark Corporation, which also franchises Play It Again Sports®, Plato’s Closet®, Style Encore®, and Music Go Round®. For more information visit www.onceuponachild.com and www.winmarkfranchises.com.
About Plato’s Closet®
Plato’s Closet® leads the nation in the buying and selling of name brand, gently used apparel and accessories for teens and twenty-something girls and guys. With more than 465 franchised stores in the United States and Canada, the retailer focuses on the latest styles and hottest brands, all in great condition. Plato’s Closet is franchised by Winmark Corporation, which also franchises Play It Again Sports®, Once Upon a Child®, Style Encore®, and Music Go Round®. For more information visit www.platoscloset.com and www.winmarkfranchises.com.
SOURCE Winmark Corporation
For Winmark Corporation
Fishman Public Relations