FranNet Verified Brand
FranNet Verified Brands are reviewed by FranNet to ensure legitimacy and industry required documentation.
|Liquid Capital Required:||$75,000 - $105,000|
|Net Worth Required:||$400,000|
|Total Investment:||$246,800 - $391,200|
|Financing:||Via 3rd party|
|Incorporated Name:||Winmark Corporation dba Style Encore|
|Home Office:||Minneapolis, Minnesota|
About Style Encore
Style Encore is the newest member of the Winmark family of high-quality retail-resale brands. Designed as the big sister to Plato's Closet, Style Encore provides gently used apparel, shoes, and accessories for women in their late twenties and up. From beautiful, trending casual wear to sharp, stylish business apparel, Style Encore offers gently used merchandise from premier brands like Gucci and Louis Vuitton at a remarkable discount, as well as the latest styles from value brands like Old Navy and White House Black Market, allowing customers to craft their own unique style for a price they can actually afford.
Values & History
Since Winmark started franchising in 1988, we have built our reputation as the largest retail-resale franchisor in North America. Our franchisees can trust that our approach to this industry has been proven numerous times across our family of brands and that they will have the tools and resources they need to build a stable, flourishing business.
Style Encore franchisees do good for their communities, for their customers, and for the environment in this franchise opportunity focused on recycling women's apparel and accessories back into the community. By paying much-needed cash to its customers for their gently used merchandise and offering fabulous fashions at greatly reduced prices, Style Encore meets customers' needs and reduces the environmental impact of the fashion industry.
We believe in:
- Trust: Mutual trust with our franchisees is crucial. This is a big leap for both sides, so we want you to feel confident in investing your time and money with our brand.
- Top Performance: We want you to succeed. 100% of our time, resources, and money are all dedicated to our franchisees - not corporate entities.
- Transparency: We create open avenues for discussion so our franchisees can share their ideas, challenges, and questions at any time.
- Team: We give you the resources, information, tools, and support to be successful throughout our long-term relationship.
Our Winmark retail-resale brands are specifically designed to fill an intermediate place between high-end retail and low-quality secondhand stores and thrift shops. Because we've focused on providing a high-quality product and experience for customers, our franchisees have been able to cultivate both a budget-conscious clientele and refined shoppers looking for the latest trends and brands all at affordable prices.
With over 1,200 stores in North America and over $1 billion in annual sales, Winmark is the top resale franchisor in the country, and it's growing. Demand for Winmark stores--including Style Encore--is increasing as more and more customers discover the benefits of high-end resale.
Like our other Winmark brands, Style Encore plays a critical niche role in the marketplace. Did you know that 20% of the apparel and shoes in a typical woman's closet has never been worn? By offering top brands and accessories to women of every age, customers no longer have to suffer crushing retail prices or far-flung boutique locations. Our fashion-conscious customers have access to an array of new items, as well as gently used ones at discounts from 50% to 90%. In fact, a good percentage of our inventory still have their tags on them. Pair these offerings with a personalized customer service experience that helps customers put together outfits and make smart purchases, and Style Encore emerges as a unique and compelling apparel, shoes, and accessories source for countless communities throughout North America. Entrepreneur Magazine agrees and has ranked Style Encore #487 in the publication's Franchise 500 and #7 in Entrepreneur's Top 100 New Franchises.
Purchasing a Style Encore Franchise
To open a Style Encore location you will need a net worth of at least $400,000 and liquid assets of $75,000 to $105,000. The total initial investment rangest on average from $246,800 to $391,200 including our low $25,000 franchise fee.
If you do not meet these financial requirements—don't worry. Many of our franchisees are able to secure a loan to make the necessary investment by partnering with family or friends to help them meet the requirements. Winmark's long history of franchising success has helped many of our partnerships qualify for bank approval. We have also partnered with leading franchise financial institutions to help you get pre-qualified and walk you through the loan process if need be.
Ideal Candidate & Qualifications
When Winmark looks for franchise partners, we're not looking for individuals with decades of experience in the fashion or retail industry. Instead, we're looking for people who are passionate about women's fashion and offering something new, exciting, and affordable to their community. Winmark often works with first-time franchisees that include family teams (couples, parent/child) that are ready to work with us and seize a great business opportunity. All of the industry knowledge, tools, and infrastructure is provided by us. Style Encore franchisees:
- Usually Not from Retail
- Passionate about the Brand and Resale Model
- Desire to offer something new and exciting to the community.
- Often First-Time Franchisees
- Many Family Teams (Couples, Siblings, Parent/Child)
Training & Support
When you sign a franchise agreement with Winmark, you will be enrolled in our training program, which includes more than 75 hours of classroom training. Your training will cover everything from store operations, customer service, and much, much more. Once you've completed training, you will continue to receive field operations and marketing and advertising support from our Winmark franchise team, as well as educational opportunities in regional meetings and at our annual conference.