Ambrosio’s Take
Style Encore specializes in women’s resale clothing and accessories, and the 2026 FDD invites an interesting comparison with its Winmark siblings: average gross sales of $959,541 trail Once Upon A Child and Plato’s Closet, which makes intuitive sense when you consider that parents buying for fast-growing children and teens shopping on a budget are perhaps the most naturally motivated resale customers. That context aside, the system posted a solid 6.4% year-over-year sales increase in 2025, and stores opened in 2019 or earlier averaged $1,070,145 – nearly 87% higher than stores opened in 2024 – suggesting that once Style Encore builds a loyal local following, the numbers follow.
Ambrosio’s Take is a new feature on all Franchise Chatter FDD Talk posts based on the 2026 FDD.
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Section I – Estimated initial investment (franchise costs) for a Style Encore franchise, based on Item 7 of the company’s 2026 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Style Encore franchise, based on Items 5 and 6 of the company’s 2026 FDD
Section III – Number of franchised and company-owned Style Encore outlets at the start of the year and the end of the year for 2023, 2024, and 2025, based on Item 20 of the company’s 2026 FDD
Section IV – News updates on the Style Encore franchise opportunity
Section V – Presentation and analysis of Style Encore’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2026 FDD, including information on the:
- 2025 average, median, high, and low gross sales and average and median gross profit for the 62 franchised Style Encore Stores in the United States that had been in operation by the same franchisee or owners for the 12-month period ended December 27, 2025, grouped by year opened (2024, 2023, 2022, 2021, 2020, and 2019 and prior)
- 2025 average, median, high, and low gross sales and average and median gross profit for the first, second, third, and fourth quartiles of the 62 franchised Style Encore Stores in the United States that had been in operation by the same franchisee or owners for the 12-month period ended December 27, 2025
- number and percentage of franchised Style Encore Stores in the United States that had been in operation by the same franchisee or owners for the 12-month period ended December 27, 2025, grouped by range of gross sales ($0 to $250,000; $250,001 to $500,000; $500,001 to $1,000,000; $1,000,001 to $2,000,000; and greater than $2,000,000)
- 2024 average gross sales, cost of goods sold, gross profit, expenses, and operating income for 40 franchised Style Encore Stores that submitted complete and valid 2024 P&L statements to the franchisor
Section VI – Key ratios, comparables, computations, and analyses for the Style Encore franchise opportunity (exclusive content for Platinum subscribers)
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- Style Encore franchise costs, based on Item 7 of the company’s 2026 FDD:
- Initial Franchise Fee: $25,000
- Fixtures and Supplies: $50,000 to $65,000
- Signs: $11,000 to $16,000
- Security Cameras: $1,500 to $4,000
- Point-of-Sale (POS) System: $23,200 to $30,900
- Leasehold Improvements: $10,500 to $20,000
- Build-Out: $35,000 to $55,000
- Deposits and Business Licenses: $8,000 to $18,000
- Opening Inventory: $70,000 to $80,000
- Miscellaneous Pre-Opening Expenses: $45,000 to $65,000
- Rent – First 3 Months: $20,000 to $30,000
- Additional Funds – 3 Months: $40,000 to $50,000
- Total Estimated Style Encore Franchise Costs: $339,200 to $458,900
Section II – Style Encore’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Style Encore’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2026 FDD:
- Initial Franchise Fee: $25,000
- Continuing Fee: 5% of Gross Sales
- Marketing Fee: $1,500 per year
- Cooperative Advertising: maximum amount is 5% of Gross Sales
- Local Marketing Expenses: minimum amount, when combined with cooperative advertising expenses, is 5% of Gross Sales
- North American Ad Fund: If Winmark imposes this Ad Fund, you will pay up to 3% of your Gross Sales.
Section III – Number of Franchised and Company-Owned Style Encore Outlets
Franchised
2023
- Outlets at the Start of the Year: 71
- Outlets at the End of the Year: 66
- Net Change: -5
2024
- Outlets at the Start of the Year: 66
- Outlets at the End of the Year: 69
- Net Change: +3
2025
- Outlets at the Start of the Year: 69
- Outlets at the End of the Year: 67
- Net Change: -2
Company-Owned
2023
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2024
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2025
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- Outlets at the End of the Year: 0
- Net Change: 0
Section IV – News Updates on the Style Encore Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Style Encore Franchise (Item 19, 2026 FDD)
- Part 1 of this Item 19 is a financial performance representation titled “Style Encore Statement of Average Annual Gross Sales and Gross Profit,” and includes information from certain reporting Style Encore Stores for Winmark’s 2025 fiscal year. The gross profit figures in Part 1 do reflect the cost of sales but do not reflect the operating expenses that must be deducted from the gross profit figures to obtain net income or profit.
- Part 2 of this Item 19 is a financial performance representation titled “Style Encore Statement of Average Annual Gross Sales, Gross Profit, Expenses and Operating Income,” and includes information from a subset of the reporting Style Encore Stores included in Part 1 below that submitted complete 2024 profit and loss (“P&L”) statements to Winmark for Winmark’s 2024 fiscal year.
Part 1 – Style Encore Statement of Average Annual Gross Sales and Gross Profit (Fiscal Year 2025)
- Part 1 of this Item 19 includes the statement of average annual gross sales and gross profits as reported by the 62 franchised Style Encore Stores located in the United States and Canada that commenced operations during the years 2013 through 2024, and were not transferred during 2025. This represents a subset of the 67 Style Encore Stores in the United States and Canada that were open and operating as of December 27, 2025.
- There are no material financial and operational characteristics of the U.S. Stores that differ materially from the Canadian Stores included in this financial performance representation. Canadian Stores are included in Item 19 because they are substantially similar to U.S. Stores in design and operation, franchisee obligations, square footage of Stores, inventory sourcing, and franchisor obligations.
- This Part 1 includes information from only those franchised Style Encore Stores located in the United States and Canada that had been in operation for the 12-month period ended December 27, 2025. No other franchised Style Encore Stores are included in this Part 1 due to insufficient history of operations (not in operation by the same franchisee or owners for the 12-month period ended December 27, 2025 or transferred during this period).
- There were 62 franchised Style Encore Stores which had been in operation by the same franchisee or owners for the 12-month period ended December 27, 2025. All 62 of these Style Encore Stores are reflected in this Part 1.
- This Part 1 does not include information for the 5 franchised Style Encore Stores that opened or transferred during the 12-month period ended December 27, 2025. No Stores closed during this same period after being opened for less than 12 months.
Part 1A – Statement of Average Gross Sales and Gross Profit of the 62 Franchised Style Encore Stores for the Fiscal Year Ended December 27, 2025
Year Opened – 2024
- Number of Stores Reported: 6
- Number and Percentage of Stores Attaining or Exceeding Average Gross Sales: 0/0%
- Number and Percentage of Stores Attaining or Exceeding Average Gross Profit: 0/0%
- 2025 Average Gross Sales: $571,936
- 2025 Median Gross Sales: $600,012
- 2025 Average Gross Profit: $329,212
- 2025 Median Gross Profit: $326,640
- Average Gross Profit Percentage: 57.56%
- Sales Range: $233,521 to $825,286
Year Opened – 2023
- Number of Stores Reported: 1
- Number and Percentage of Stores Attaining or Exceeding Average Gross Sales: 1/100%
- Number and Percentage of Stores Attaining or Exceeding Average Gross Profit: 1/100%
- 2025 Average Gross Sales: $1,348,106
- 2025 Median Gross Sales: $1,348,106
- 2025 Average Gross Profit: $734,853
- 2025 Median Gross Profit: $734,853
- Average Gross Profit Percentage: 54.51%
- Sales Range: $1,348,106 to $1,348,106
Year Opened – 2022
- Number of Stores Reported: 4
- Number and Percentage of Stores Attaining or Exceeding Average Gross Sales: 0/0%
- Number and Percentage of Stores Attaining or Exceeding Average Gross Profit: 0/0%
- 2025 Average Gross Sales: $428,173
- 2025 Median Gross Sales: $383,516
- 2025 Average Gross Profit: $269,900
- 2025 Median Gross Profit: $235,446
- Average Gross Profit Percentage: 63.04%
- Sales Range: $286,415 to $659,246
Year Opened – 2021
- Number of Stores Reported: 3
- Number and Percentage of Stores Attaining or Exceeding Average Gross Sales: 2/67%
- Number and Percentage of Stores Attaining or Exceeding Average Gross Profit: 2/67%
- 2025 Average Gross Sales: $925,824
- 2025 Median Gross Sales: $1,004,542
- 2025 Average Gross Profit: $567,443
- 2025 Median Gross Profit: $614,378
- Average Gross Profit Percentage: 61.29%
- Sales Range: $605,397 to $1,167,532
Year Opened – 2020
- Number of Stores Reported: 2
- Number and Percentage of Stores Attaining or Exceeding Average Gross Sales: 0/0%
- Number and Percentage of Stores Attaining or Exceeding Average Gross Profit: 0/0%
- 2025 Average Gross Sales: $497,498
- 2025 Median Gross Sales: $497,498
- 2025 Average Gross Profit: $305,618
- 2025 Median Gross Profit: $305,618
- Average Gross Profit Percentage: 61.43%
- Sales Range: $321,695 to $673,300
Year Opened – 2019 and Prior
- Number of Stores Reported: 46
- Number and Percentage of Stores Attaining or Exceeding Average Gross Sales: 26/57%
- Number and Percentage of Stores Attaining or Exceeding Average Gross Profit: 27/59%
- 2025 Average Gross Sales: $1,070,145
- 2025 Median Gross Sales: $1,018,926
- 2025 Average Gross Profit: $636,208
- 2025 Median Gross Profit: $624,628
- Average Gross Profit Percentage: 59.45%
- Sales Range: $393,572 to $2,786,831
Total
- Number of Stores Reported: 62
- Number and Percentage of Stores Attaining or Exceeding Average Gross Sales: 29/47%
- Number and Percentage of Stores Attaining or Exceeding Average Gross Profit: 30/48%
- 2025 Average Gross Sales: $959,541
- 2025 Median Gross Sales: $873,963
- 2025 Average Gross Profit: $570,465
- 2025 Median Gross Profit: $539,675
- Average Gross Profit Percentage: 59.45%
- “Gross Sales” means all revenues the franchisee receives from the sale of goods and services, whether by cash or by check, credit card or trade, in connection with the Store, less sales tax and customer refunds and returns.
- “Cost of Goods Sold” includes the costs and expenses related to retail items. This includes freight and shrinkage (loss of product due to theft, inventory adjustments, donations, etc.).
- Average Gross Profit equals Gross Sales less Cost of Goods Sold. Gross Profit does not reflect any expenses related to the operation of a Style Encore Store other than Cost of Goods Sold.
Part 1B – Statement of Sales Ranges by Quartile for the 62 Franchised Style Encore Stores Open on December 27, 2025 That Had Been in Operation for at Least 12 Months by the Same Franchisee or Owners for the 12-Month Period Ended December 27, 2025
- Quartile refers to that portion of the total number of Stores open that represents 25%. For example, the first Quartile identifies those Stores that were in the top 25% of all Stores in Gross Sales.
1st Quartile
- Number of Stores: 15
- 2025 Gross Sales Range by Quartile: $1,223,273 to $2,786,831
- 2025 Quartile Average Gross Sales: $1,631,150
- 2025 Quartile Median Gross Sales: $1,495,016
- Number and Percentage of Stores Attaining or Exceeding Quartile Average Gross Sales: 5/33%
- 2025 Quartile Average Gross Profit: $951,029
- 2025 Quartile Median Gross Profit: $957,259
- Number and Percentage of Stores Attaining or Exceeding Quartile Average Gross Profit: 8/53%
- Quartile Average Gross Profit Percentage: 58.30%
2nd Quartile
- Number of Stores: 15
- 2025 Gross Sales Range by Quartile: $943,968 to $1,221,458
- 2025 Quartile Average Gross Sales: $1,080,868
- 2025 Quartile Median Gross Sales: $1,077,886
- Number and Percentage of Stores Attaining or Exceeding Quartile Average Gross Sales: 7/47%
- 2025 Quartile Average Gross Profit: $652,618
- 2025 Quartile Median Gross Profit: $654,334
- Number and Percentage of Stores Attaining or Exceeding Quartile Average Gross Profit: 8/53%
- Quartile Average Gross Profit Percentage: 60.38%
3rd Quartile
- Number of Stores: 16
- 2025 Gross Sales Range by Quartile: $605,397 to $909,483
- 2025 Quartile Average Gross Sales: $741,249
- 2025 Quartile Median Gross Sales: $743,401
- Number and Percentage of Stores Attaining or Exceeding Quartile Average Gross Sales: 8/50%
- 2025 Quartile Average Gross Profit: $443,576
- 2025 Quartile Median Gross Profit: $432,058
- Number and Percentage of Stores Attaining or Exceeding Quartile Average Gross Profit: 5/31%
- Quartile Average Gross Profit Percentage: 59.84%
4th Quartile
- Number of Stores: 16
- 2025 Gross Sales Range by Quartile: $233,521 to $596,696
- 2025 Quartile Average Gross Sales: $434,456
- 2025 Quartile Median Gross Sales: $442,689
- Number and Percentage of Stores Attaining or Exceeding Quartile Average Gross Sales: 9/56%
- 2025 Quartile Average Gross Profit: $263,558
- 2025 Quartile Median Gross Profit: $271,357
- Number and Percentage of Stores Attaining or Exceeding Quartile Average Gross Profit: 9/56%
- Quartile Average Gross Profit Percentage: 60.66%
Part 1C – Number of Stores, Average and Median Gross Sales, Lowest and Highest Gross Sales Amount in Each Range, and Percentage of Total Number of Stores That Fell Within Certain Ranges of Gross Sales for 2025
- Based on information reported by the 62 Style Encore Stores which had been in operation by the same franchisee or owner for the 12-month period ended December 27, 2025, the following chart sets forth the number of Stores, average and median Gross Sales, the lowest and highest Gross Sales amount in each range, and the percentage of total number of Stores that fell within certain ranges of Gross Sales for 2025:
2025 Range of Gross Sales: $0 to $250,000
- Number of Stores Falling Within Range: 1
- Average Gross Sales for Stores Within Range: $233,521
- Number and Percent of Stores Exceeding Average Gross Sales for Stores Within Range: 1/100%
- Gross Sales for Lowest Store Within Range: $233,521
- Gross Sales for Highest Store Within Range: $233,521
- Median Gross Sales for Stores Within Range: $233,521
- Percent of Total Number of Stores (62) Within Range: 1.61%
2025 Range of Gross Sales: $250,001 to $500,000
- Number of Stores Falling Within Range: 10
- Average Gross Sales for Stores Within Range: $396,297
- Number and Percent of Stores Exceeding Average Gross Sales for Stores Within Range: 6/60%
- Gross Sales for Lowest Store Within Range: $286,415
- Gross Sales for Highest Store Within Range: $483,289
- Median Gross Sales for Stores Within Range: $399,542
- Percent of Total Number of Stores (62) Within Range: 16.13%
2025 Range of Gross Sales: $500,001 to $1,000,000
- Number of Stores Falling Within Range: 24
- Average Gross Sales for Stores Within Range: $729,256
- Number and Percent of Stores Exceeding Average Gross Sales for Stores Within Range: 11/46%
- Gross Sales for Lowest Store Within Range: $511,963
- Gross Sales for Highest Store Within Range: $972,914
- Median Gross Sales for Stores Within Range: $715,311
- Percent of Total Number of Stores (62) Within Range: 38.71%
2025 Range of Gross Sales: $1,000,001 to $2,000,000
- Number of Stores Falling Within Range: 26
- Average Gross Sales for Stores Within Range: $1,346,388
- Number and Percent of Stores Exceeding Average Gross Sales for Stores Within Range: 12/46%
- Gross Sales for Lowest Store Within Range: $1,004,542
- Gross Sales for Highest Store Within Range: $1,995,836
- Median Gross Sales for Stores Within Range: $1,278,017
- Percent of Total Number of Stores (62) Within Range: 41.94%
2025 Range of Gross Sales: $2,000,000 to $3,000,000
- Number of Stores Falling Within Range: 1
- Average Gross Sales for Stores Within Range: $2,786,831
- Number and Percent of Stores Exceeding Average Gross Sales for Stores Within Range: 1/100%
- Gross Sales for Lowest Store Within Range: $2,786,381
- Gross Sales for Highest Store Within Range: $2,786,381
- Median Gross Sales for Stores Within Range: $2,786,381
- Percent of Total Number of Stores (62) Within Range: 1.61%
2025 Range of Gross Sales: Greater Than $3,000,000
- Number of Stores Falling Within Range: 0
- Average Gross Sales for Stores Within Range: $0
- Number and Percent of Stores Exceeding Average Gross Sales for Stores Within Range: 0/0%
- Gross Sales for Lowest Store Within Range: $0
- Gross Sales for Highest Store Within Range: $0
- Median Gross Sales for Stores Within Range: $0
- Percent of Total Number of Stores (62) Within Range: 0.00%
Part 2 – Music Go Round Statement of Average Annual Gross Sales, Gross Profit, Expenses, and Operating Income
- Part 2 includes the average gross sales, average cost of goods sold, average gross profit, average expenses, and average operating income for Winmark’s 2024 fiscal year (December 31, 2023 to December 28, 2024) for certain Style Encore Stores located in the United States and Canada.
- This information is based on average sales and expenses for 40 franchised Style Encore Stores that submitted complete and valid 2024 P&L statements to Winmark. Winmark has not audited or independently verified this information.
- These 40 Stores are a subset of the 63 franchised Style Encore Stores that were operated by the same franchisee or owner for the 12-month period ending December 28, 2024. The remaining 23 of the 63 Stores did not submit complete 2024 P&L statements to Winmark.
- However, Winmark believes the 40 Stores that submitted complete 2024 P&L statements to it represent a fair cross section of the 63 Stores.
Average
Gross Sales: $894,114 (100.0%)
Less: Cost of Goods Sold: $377,615 (42.2%)
Gross Profit: $516,500 (57.8%)
Expense
- Labor: $207,584 (23.2%)
- Facility: $95,353 (10.7%)
- Continuing Fees and Marketing: $83,103 (9.3%)
- Other Expenses: $65,349 (7.3%)
- Total Expenses: $451,390 (50.5%)
Operating Income: $65,110 (7.3%)
- “Gross Sales” means all revenues the franchisee receives from the sale of goods and services, whether by cash or by check, credit card or trade, in connection with the Store, less sales tax and customer refunds and returns.
- “Cost of Goods Sold” includes the costs and expenses related to retail items. This includes freight and shrinkage (loss of product due to theft, inventory adjustments, donations, etc.).
- “Gross Profit” means Gross Sales minus Cost of Goods Sold.
- “Labor” includes hourly payroll, salaried payroll, and payroll taxes. Owner salary was excluded, if reported.
- “Facility” includes rent, common area maintenance (CAM), offsite storage rental, repairs and maintenance, utilities, internet, and phone.
- “Continuing Fees and Marketing” includes franchisee’s actual spend for Continuing Fees (royalties) and all marketing-related expenses.
- “Other Expenses” include Store and office supplies, bank charges, credit card fees, business insurance, health insurance and benefits, meals and entertainment/travel expenses, outside services, security, vehicle, and additional operating expenses.
- “Operating Income” is net income before interest, tax, depreciation, amortization, and owner salary.
- The results in this Item 19 relate to specific Style Encore Stores located in the United States.
- Some Stores have sold or earned these amounts. Your individual results may differ. There is no assurance that you will sell or earn as much.
Section VI – Style Encore Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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