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Organization and Business:
 12 Months Ended
Dec. 31, 2011
Organization and Business:  
Organization and Business:

1.                                      Organization and Business:

 

Winmark Corporation and subsidiaries (the Company) offers licenses to operate franchises using the service marks Plato’s Closet®, Play It Again Sports®, Once Upon A Child® and Music Go Round®.  In addition, the Company sells inventory to its Play It Again Sports franchisees through its buying group.  The Company also operates both middle market and small-ticket equipment leasing businesses under the Winmark Capital® and Wirth Business Credit® marks.  The Company has a 52/53-week fiscal year that ends on the last Saturday in December.  Fiscal year 2011 was a 53-week fiscal year and 2010 was 52-week fiscal year.

 

Following is a summary of our franchising activity for the fiscal year ended December 31, 2011:

 

 

 

TOTAL
12/25/10

 

OPENED

 

CLOSED

 

TOTAL
12/31/11

 

Plato’s Closet
Franchises - US and Canada

 

301

 

24

 

(1

)

324

 

 

 

 

 

 

 

 

 

 

 

Play It Again Sports
Franchises - US and Canada

 

328

 

8

 

(11

)

325

 

 

 

 

 

 

 

 

 

 

 

Once Upon A Child
Franchises - US and Canada

 

241

 

10

 

(4

)

247

 

 

 

 

 

 

 

 

 

 

 

Music Go Round
Franchises - US

 

33

 

1

 

(0

)

34

 

 

 

 

 

 

 

 

 

 

 

Total Franchised Stores

 

903

 

43

 

(16

)

930

 

 

 

 

 

 

 

 

 

 

 

Wirth Business Credit
Territories - US

 

15

 

0

 

(15

)

0

 

 

 

 

 

 

 

 

 

 

 

Total Franchises/Territories(1)

 

918

 

43

 

(31

)

930

 

 

(1)         During the first quarter of 2011, the franchise agreements for the 15 Wirth Business Credit territories were terminated.