百大连锁店Rank no.258 – Play It Again Sports – 新移民致富之路
Products & Services: New & used sporting goods/equipment
Number of Locations: 306
Total Investment: $249.8K – 407K
Began Franchising: 1988
About Play It Again Sports
Founded in 1983, Play It Again Sports buys and sells new and used sporting goods. Stores carry items like golf clubs and bags, baseball bats and gloves, in-line and ice skates, and fitness equipment.
Play It Again Sports is owned by Winmark (formerly Grow Biz), which also franchises Music Go Round, Once Upon A Child, Style Encore and Plato’s Closet.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $25,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 10 years, renewable
Net Worth: $300,000
Liquid Cash Available: $74,940 – $122,100
20% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 3 – 5. Absentee ownership of franchise is NOT allowed. (95% of current franchisees are owner/operators).
How This Franchise Supports Franchisees
Franchise Ranking History
|Headquarters||Minneapolis, Minnesota, United States|
Play It Again Sports is a chain of sporting goods stores selling new and gently used sporting goods franchised by Winmark Corporation. Minneapolis native Martha Morris started the store in 1983, soon growing to several stores. Morris sold the chain toWinmark in 1988 and franchising began, growing to over 400 stores across the United States Midwest and 43 stores in Canada. All stores are independently owned and operated.
How To Trade
There are thousands of parents out there with kids in sports, sometimes more than just one, but inevitably all kids grow, and their sports equipment may have many more seasons left in it. Instead of letting the sports equipment pile up in the garage or trying to sell it yourself, Play It Again Sports offers the opportunity to bring in your quality used equipment for a cash or trade value. The gently used equipment is then put back on the market to allow others the chance to buy quality equipment at a greatly reduced price. When a child or adult is ready to take up a new sport or just looking to upgrade their equipment, Play It Again Sports can help keep the cost down while still offering quality equipment with a lot of life left in it. But used sporting equipment is not all that Play It Again Sports offers, they also sell new sporting equipment that has never been used. As North America’s largest sporting goods retailer with nearly 350 store locations, Play It Again Sports stores sell and service the top name brand new products in the sporting goods industry.
Sporting Equipment Includes
- Exercise Equipment
- Water Sports
- Racquet Sports
The average total investment to open a Play It Again Sports store is approximately $350,000. In order to financially qualify, candidates need to have at least 30% ($105,000) of the investment in non-borrowed personal resources (liquid assets, i.e. cash, stock or marketable securities) and enough equity to collateralize the balance. The total cost will vary based on size and location. Winmark will not help finance, a third party lending source will be needed for that. Winmark will assist you in preparing a comprehensive business plan to obtain SBA or other financing once someone is a franchisee. All Winmark brands are listed on the SBA’s Franchise Registry which helps streamline the process. Winmark requires over 75 hours of classroom instruction and in-store training on the following: business planning, retail site selection, store set-up, computer training, advertising andmarketing, and store operations. To be a successful Play It Again Sports franchisee requires proper capitalization, hard work and people skills. While having knowledge of sports is helpful, Winmark’s comprehensive training program will provide the tools and skills needed to be successful. The typical time frame to open a Play It Again Sports store is approximately nine months.