TacticScaleWhat Winmark Does & How It Makes Money (WINA)
Updated October 2026 · reflects Winmark's latest reported financials
Franchisor of resale stores for used clothing, sports gear, and instruments. Winmark mainly makes money from franchisees who run stores under its resale brands.
How Winmark makes money
Winmark mainly makes money from franchisees who run stores under its resale brands. It also earns from leasing equipment through Winmark Capital and from selling point-of-sale hardware and some merchandise to franchisees.
What Winmark does
Winmark Corporation is a resale franchisor based in Minneapolis. It was incorporated in 1988 as Grow Biz International and took the Winmark name in 2001. It owns five store brands, and independent franchisees run the stores in the U.S. and Canada. Each brand buys used goods from local customers and sells them again. Plato's Closet serves teens and young adults, Once Upon A Child sells children's clothing, toys and equipment, and Style Encore sells women's and men's apparel. Play It Again Sports covers sporting goods, and Music Go Round sells instruments and audio gear. Franchisees do the store-level buying and selling, which keeps Winmark's own operations light. The company also sells point-of-sale hardware to franchisees and supplies some merchandise to Play It Again Sports stores. Separately, it runs a middle-market equipment leasing business under the Winmark Capital brand.
Products & services
- Plato's Closet
- Once Upon A Child
- Style Encore
- Play It Again Sports
- Music Go Round
- Winmark Capital
What is Winmark worth?
On an owner-earnings DCF, Winmark's most-likely value is about $187 versus a recent price near $292 (36% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$107) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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