Industry sporting goods CEO John Morgan (Mar 2000–) Type of business Chain store | Website playitagainsports.com Founded 1983 | |
 | ||
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. Minneapolis native Martha Morris started the store in 1983, soon growing to several stores. Morris sold the chain to Winmark in 1988 and franchising began, growing to over 400 stores across the United States and 43 stores in Canada. All stores are independently owned and operated.
Contents
Business model
Play It Again takes advantage of the fact that many sports require equipment that can easily outlast participants, who either outgrow it physically, move on to more advanced gear, or phase out of the particular sport. The chain markets primarily to parents of growing kids, and offers cash back as well as trade-in credit for old gear when purchasing new.
Sporting equipment includes
Ownership
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 and marketing, 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.