Winmark is a pure-play franchisor of five resale retail brands in the U.S. and Canada: Plato's Closet (used teen apparel), Once Upon A Child (used children's goods), Play It Again Sports (used sporting goods), Style Encore (used women's apparel), and Music Go Round (used musical instruments). Winmark owns no stores itself — all 1,378 locations are independently owned and operated by franchisees. The core value proposition across all five brands is the same: consumers sell used or unwanted items to a store and buy quality used goods at a discount to new retail. This two-sided buy-sell model drives traffic from both buyers and sellers. Winmark earns money primarily through weekly royalties of roughly 4–5% of each franchisee's gross sales, plus initial franchise fees per new location. Royalties and franchise fees together make up about 90% of revenue. The business is highly asset-light — Winmark employs only 87 people and carries no retail inventory or store leases, with franchisees bearing all store-level operating costs. System-wide sales across all five brands were approximately $1.7B in FY2025. Winmark's primary growth lever is expanding its store count; the company estimates over 2,800 territories remain available versus 1,378 currently open. Winmark is also building out e-commerce capabilities for select brands, allowing franchisees to list inventory online for local pickup or shipment.