Play It Again Sports is a chain store in the United States that buys and sells new and used sporting goods. It was founded in 1983 by Martha Morris in Minneapolis, Minnesota. Eventually, the chain grew to several locations, and Morris sold the business to the Winmark Corporation in 1988. The brand is now owned by various companies.
Business model
The Play It Again Sports franchise offers a unique business model that allows franchisees to sell used items at up to 90 percent below retail price. Stores are open year-round and are able to take in almost any quality used item. The business model is based on selling items in similar condition as the original.
The Play It Again Sports franchise is a sports equipment chain that began in 1983. Currently, there are several locations around the country. The original owner, Martha Morris, sold her business to the Winmark Corporation in 1988. The Play It Again Sports franchise offers franchisees several advantages, including a proven business model and training requirements.
To succeed, Play It Again Sports must reevaluate their target customer base to determine the right mix of products. Parents often struggle to afford new sports equipment for their children, and this can be a barrier to their participation. However, through the Play It Again Sports business model, parents can easily trade in their gently used equipment, reducing the cost of buying a new set of equipment.
Franchisees are provided with a territory based on a computer-modeled map. This territory is typically a radius of three to five miles around a store. Franchisees must be located in an urban area of 75k or more people to be eligible for the franchise program. However, if the population of a city or area is small, there is no franchise opportunity.
A key advantage of Play It Again Sports over other sporting goods retailers is that franchisees are allowed to build strong ties with local communities. Franchisees are not forced to establish corporate relationships with national companies and cannot be required to advertise their business in newspapers or television commercials. The model also allows franchisees to support local youth sports organizations and charities.
Besides a unique business model, Play It Again Sports also provides its franchisees with extensive training. Franchisees receive 65 hours of training, during which they learn about the Play It Again Sports brand and its principles. They are also taught how to purchase used sports gear and run their stores. Franchisees also receive periodic follow-up visits from the company.
Cost of opening a store
The Play It Again Sports retail chain is a business model that blends new and used name-brand sports equipment to offer ultra-high value for customers. This strategy has helped Play It Again Sports become the number one sporting goods chain in North America, with over 330 locations. The brand is known for its dedication to quality, efficiency, and customer loyalty. As a result, the company has built a devoted franchise family and turned quality used sports equipment into a thriving industry.
Franchisees must pay the franchise fee and contribute to the cooperative advertising program. Cooperative advertising fees are determined by the local cooperative and must be a minimum of 5% of gross sales. In addition, Play It Again Sports requires franchisees to spend a certain amount of money each calendar year on advertising.
Play It Again Sports franchises have exclusive territories, which means a store can only be open in certain areas. These areas are usually within a three to five-mile radius of a parent store. Moreover, territories must be located in a city or metro area with a population of at least 50,000 people. Therefore, a franchisee must carefully consider the location before opening a store in their territory.
The cost of opening a Play It Again Sports retail store can be very high. This is because it is essential to invest in the store’s marketing. The company’s marketing team creates radio commercials, digital marketing assets, and local store marketing programs. Franchisees also have access to a preferred marketing vendor, which works with the Play It Again Sports company to determine the best marketing plan to achieve the highest ROI.
The cost of opening a Play It Again Sports franchise can vary from $251,300 to $378200. Franchise fees can vary depending on the country. To open a store, you must have a minimum investment of $50,000. To open a franchise, you must have experience in sales and marketing, as well as a passion for sports and exceptional customer service.
Once you have determined your financial capabilities, the next step is to submit an application for a Play It Again Sports franchise. The application process involves completing an online qualification form and reviewing the Franchise Disclosure Document. This document is essential for your application, as it outlines all costs associated with owning a Play It Again Sports store. It is also important to meet with a franchise consultant to discuss your requirements. Once you have been qualified, you should submit a franchise application and sign a franchise agreement.
Training provided to franchisees
Play It Again Sports franchisees have access to comprehensive training and support. The company works with franchisees to develop their business and marketing strategies. Franchisees are also provided with an exclusive preferred marketing vendor. This vendor will help franchisees develop their marketing plan and maximize their return on investment.
Costs of owning a Play It Again Sports franchise vary depending on the location and the number of franchisees. Franchisees should consider the costs of building and real estate, licenses, and equipment. They should also consider the skills and experience they have in the business and in the sport and fitness industry.
Franchisees receive an exclusive development territory, which is based on computer-modeled mapping. These territories typically cover three to five miles around a franchisee’s store. They can open multiple stores within their territory, as long as they have the franchisor’s approval. However, franchisees cannot open Play It Again Sports franchises in an area with a lower population density than their territory.
Training for a Play It Again Sports franchise is provided for a minimum of five days. It includes training on sales, marketing, buying used products, computer operation, store management, and inventory management. Franchisees will also receive periodic training visits. This training is aimed at ensuring the success of the franchise.
Franchise owners are also required to participate in a local advertising cooperative. In this way, Play It Again Sports franchisees are guaranteed advertising fees. They have equal voting power with company owned stores, but do not have control of the cooperative. Moreover, they must adhere to advertising guidelines and spend a certain amount each calendar year to receive maximum exposure.
Franchisees must pay a franchise fee to become a franchisee of the Play It Again Sports system. The fee is listed in the Disclosure Document provided by the franchisor. The document also provides additional information regarding the franchise, including whether the franchise is renewable and the availability of financing support. Additionally, Play It Again Sports has financial relationships with third-party sources to provide financing for franchise fees and startup costs.
Trade-in and layaway programs
Trade-in and layaway programs are an excellent way to get your sports equipment at a discount. With more than 300 locations nationwide, Play It Again Sports is sure to have the sports equipment you’re looking for. Their inventory includes used and new items from the best brands in the business. And because they are part of the Better Business Bureau and National Sporting Goods Association, you can be confident that the prices are fair.
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Layaway programs help you avoid paying full price up front, as well as locking in sales or discounted prices. These programs can help you lock in larger discounts, but they can also make it easier to spend too much money at one time. Also, most layaway programs require a minimum spend, which makes it easy to overspend.
