Winmark (WINA) 10-K 10 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 06, 2023	Jun. 25, 2022
Document and Entity Information
Entity Registrant Name	WINMARK CORPORATION
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	000-22012
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1622691
Entity Address, Address Line One	605 Highway 169 North, Suite 400
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55441
City Area Code	763
Local Phone Number	520-8500
Title of 12(b) Security	Common Stock, no par value per share
Trading Symbol	WINA
Security Exchange Name	NASDAQ
Amendment Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 373,494,316
Entity Common Stock, Shares Outstanding		3,463,191
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000908315
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Auditor Name	GRANT THORNTON LLP
Auditor Firm ID	248
Auditor Location	Minneapolis, Minnesota

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 25, 2021
Current Assets:
Cash and cash equivalents	$ 13,615,600	$ 11,407,000
Restricted cash	65,000	30,000
Receivables, less allowance for doubtful accounts of $800 and $600	1,438,600	1,103,400
Net investment in leases - current	344,900	2,890,600
Income tax receivable	558,700	667,500
Inventories	770,600	325,200
Prepaid expenses	1,310,400	1,008,600
Total current assets	18,103,800	17,432,300
Net investment in leases - long-term	5,400	229,300
Property and equipment, net	1,704,600	1,976,900
Property and equipment:
Furniture and equipment	3,484,200	3,406,600
Building and building improvements	2,952,100	2,952,100
Less - accumulated depreciation and amortization	(4,731,700)	(4,381,800)
Operating lease right of use assets	2,716,000	2,982,000
Intangible assets, net	3,348,300
Goodwill	607,500	607,500
Other assets	429,700	418,300
Deferred income taxes	3,540,400	3,252,700
Total assets	30,455,700	26,899,000
Current Liabilities:
Notes payable, net of unamortized debt issuance costs of $32,100 and $17,400	4,217,900	4,232,600
Accounts payable	2,122,000	2,099,000
Accrued liabilities	2,611,700	2,001,000
Deferred revenue	1,643,900	1,645,000
Total current liabilities	10,595,500	9,977,600
Long-term Liabilities:
Line of credit/Term loan	30,000,000
Notes payable, net of unamortized debt issuance costs of $120,800 and $61,100	39,066,700	43,376,400
Deferred revenue	6,974,200	6,863,500
Operating lease liabilities	4,287,000	4,810,100
Other liabilities	1,164,400	954,800
Total long-term liabilities	81,492,300	56,004,800
Commitments and Contingencies
Shareholders' Equity (Deficit):
Common stock, no par value, 10,000,000 shares authorized, 3,459,673 and 3,635,806 shares issued and outstanding	1,806,700
Retained earnings (accumulated deficit)	(63,438,800)	(39,083,400)
Total shareholders' equity (deficit)	(61,632,100)	(39,083,400)
Total liabilities and shareholders' equity (deficit)	$ 30,455,700	$ 26,899,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2022	Dec. 25, 2021
CONSOLIDATED BALANCE SHEETS
Receivables, allowance for doubtful accounts	$ 800	$ 600
Unamortized debt issuance costs - Current	32,100	17,400
Unamortized debt issuance costs - Noncurrent	$ 120,800	$ 61,100
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	3,459,673	3,635,806
Common stock, shares outstanding	3,459,673	3,635,806

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Revenue:
Revenue		$ 1,300,000	$ 1,300,000
Leasing income	$ 6,937,700	11,148,300	14,484,000
Total revenue	81,410,800	78,216,200	66,061,800
Cost of merchandise sold	3,712,800	2,940,500	2,103,900
Leasing expense	984,700	1,850,300	2,622,600
Provisions for credit losses	(57,900)	(206,600)	(79,300)
Selling, general and administrative expenses	23,158,400	22,295,800	21,203,100
Income from operations	53,612,800	51,336,200	40,211,500
Interest expense	(2,914,900)	(1,453,900)	(1,737,500)
Interest and other income (expense)	85,600	(15,000)	43,400
Income before income taxes	50,783,500	49,867,300	38,517,400
Provision for income taxes	(11,358,600)	(9,947,400)	(8,694,100)
Net income	$ 39,424,900	$ 39,919,900	$ 29,823,300
Earnings per share - basic (in dollars per share)	$ 11.30	$ 10.87	$ 8.02
Earnings per share - diluted (in dollars per share)	$ 10.97	$ 10.48	$ 7.72
Weighted average shares outstanding - basic	3,487,732	3,671,980	3,719,485
Weighted average shares outstanding - diluted	3,592,456	3,810,480	3,863,264
Royalties
Revenue:
Revenue	$ 67,148,100	$ 60,779,300	$ 46,286,200
Merchandise sales
Revenue:
Revenue	3,921,600	3,100,100	2,215,400
Franchise fees
Revenue:
Revenue	1,575,400	1,496,900	1,444,500
Other
Revenue:
Revenue	$ 1,828,000	$ 1,691,600	$ 1,631,700

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock	Retained Earnings (Accumulated Deficit).	Total
BALANCE at Dec. 28, 2019	$ 11,929,300	$ 519,000	$ 12,448,300
BALANCE (in shares) at Dec. 28, 2019	3,947,858
Shareholders' Equity (Deficit)
Repurchase of common stock	$ (12,215,500)	(36,772,000)	(48,987,500)
Repurchase of common stock (in shares)	(300,000)
Stock options exercised	$ 8,252,800		8,252,800
Stock options exercised (in shares)	108,170
Compensation expense relating to stock options	$ 1,315,200		1,315,200
Cash dividends		(14,230,800)	(14,230,800)
Comprehensive income (Net income)		29,823,300	29,823,300
BALANCE at Dec. 26, 2020	$ 9,281,800	(20,660,500)	(11,378,700)
BALANCE (in shares) at Dec. 26, 2020	3,756,028
Shareholders' Equity (Deficit)
Repurchase of common stock	$ (19,037,300)	(25,180,200)	(44,217,500)
Repurchase of common stock (in shares)	(225,839)
Stock options exercised	$ 8,320,000		8,320,000
Stock options exercised (in shares)	105,617
Compensation expense relating to stock options	$ 1,435,500		1,435,500
Cash dividends		(33,162,600)	(33,162,600)
Comprehensive income (Net income)		39,919,900	39,919,900
BALANCE at Dec. 25, 2021		(39,083,400)	$ (39,083,400)
BALANCE (in shares) at Dec. 25, 2021	3,635,806		3,635,806
Shareholders' Equity (Deficit)
Repurchase of common stock	$ (4,597,400)	(44,522,400)	$ (49,119,800)
Repurchase of common stock (in shares)	(226,165)
Stock options exercised	$ 4,751,700		4,751,700
Stock options exercised (in shares)	50,032
Compensation expense relating to stock options	$ 1,652,400		1,652,400
Cash dividends		(19,257,900)	(19,257,900)
Comprehensive income (Net income)		39,424,900	39,424,900
BALANCE at Dec. 31, 2022	$ 1,806,700	$ (63,438,800)	$ (61,632,100)
BALANCE (in shares) at Dec. 31, 2022	3,459,673		3,459,673

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
OPERATING ACTIVITIES:
Net Income	$ 39,424,900	$ 39,919,900	$ 29,823,300
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	603,100	430,600	484,700
Provisions for credit losses	(57,900)	(206,600)	(79,300)
Compensation expense related to stock options	1,652,400	1,435,500	1,315,200
Deferred income taxes	(287,700)	(1,362,000)	(1,223,700)
Loss from disposal of property and equipment	(9,400)		200
Deferred initial direct costs		(2,100)	(18,300)
Amortization of deferred initial direct costs		18,900	105,900
Operating lease right of use asset amortization	266,000	244,300	368,900
Tax benefits on exercised stock options	858,300	2,479,600	872,900
Change in operating assets and liabilities:
Receivables	(335,200)	478,500	87,600
Principal collections on lease receivables	3,646,700	9,915,400	14,829,200
Income tax receivable/payable	(749,500)	(2,925,900)	(596,200)
Inventories	(445,400)	(218,600)	(20,600)
Prepaid expenses	(301,800)	(13,400)	(27,100)
Other assets	(11,400)	17,600	56,600
Accounts payable	23,000	329,400	754,600
Accrued and other liabilities	222,800	(948,500)	(691,400)
Rents received in advance and security deposits	(819,200)	(1,046,600)	(1,954,000)
Deferred revenue	109,600	(199,800)	(867,200)
Net cash provided by operating activities	43,789,300	48,346,200	43,221,300
INVESTING ACTIVITIES:
Proceeds from sales of property and equipment	9,400
Purchase of property and equipment	(139,100)	(74,700)	(45,100)
Reacquired franchise rights	(3,540,000)
Purchase of equipment for lease contracts		(208,400)	(4,114,000)
Net cash used for investing activities	(3,669,700)	(283,100)	(4,159,100)
FINANCING ACTIVITIES:
Proceeds from borrowings on line of credit	33,700,000		46,600,000
Payments on line of credit	(3,700,000)		(46,600,000)
Proceeds from borrowings on notes payable		30,000,000
Payments on notes payable	(4,250,000)	(4,250,000)	(3,750,000)
Repurchases of common stock	(49,119,800)	(44,217,500)	(48,987,500)
Proceeds from exercises of stock options	4,751,700	8,320,000	8,252,800
Dividends paid	(19,257,900)	(33,162,600)	(14,230,800)
Proceeds from discounted lease rentals			1,157,000
Net cash used for financing activities	(37,876,000)	(43,310,100)	(57,558,500)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	2,243,600	4,753,000	(18,496,300)
Cash, cash equivalents and restricted cash, beginning of period	11,437,000	6,684,000	25,180,300
Cash, cash equivalents and restricted cash, end of period	$ 13,680,600	$ 11,437,000	$ 6,684,000

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS - Supplemental Disclosures - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	$ 2,722,500	$ 1,388,900	$ 1,738,400
Cash paid for income taxes	11,308,800	11,555,100	9,552,500
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	13,615,600	11,407,000	6,659,000
Restricted cash	65,000	30,000	25,000
Total cash, cash equivalents and restricted cash	$ 13,680,600	$ 11,437,000	$ 6,684,000

Organization and Business_

Organization and Business:	12 Months Ended
	Dec. 31, 2022
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®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. In addition, the Company sells point-of-sale system hardware to its franchisees and certain merchandise to its Play It Again Sports franchisees. The Company also operates a middle-market equipment leasing businesses under the Winmark Capital® mark and operated a small-ticket financing business under the Wirth Business Credit® mark until November 2020. The Company has a 52/53-week fiscal year that ends on the last Saturday in December. Fiscal year 2022 was a ​

Significant Accounting Policies

Significant Accounting Policies:	12 Months Ended
	Dec. 31, 2022
Significant Accounting Policies:
Significant Accounting Policies:	2. Significant Accounting Policies: Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Winmark Capital Corporation, Wirth Business Credit, Inc. and Grow Biz Games, Inc. All material inter-company transactions have been eliminated in consolidation. ​ Cash Equivalents Cash equivalents consist of highly liquid investments with an original maturity of three months or less when purchased. Cash equivalents are stated at cost, which approximates fair value. As of December 31, 2022 and December 25, 2021, the Company had , respectively, of cash located in Canadian banks. The Company holds its cash and cash equivalents with financial institutions and at times, such balances may be in excess of insurance limits. ​ Receivables The Company provides an allowance for doubtful accounts on trade receivables. The allowance for doubtful accounts was at December 31, 2022 and December 25, 2021 respectively. If receivables in excess of the provided allowance are determined uncollectible, they are charged to expense in the year the determination is made. Trade receivables are written off when they become uncollectible (which generally occurs when the franchise terminates and there is no reasonable expectation of collection), and payments subsequently received on such receivable are credited to the allowance for doubtful accounts. Historically, receivables balances written off have not exceeded allowances provided. ​ Restricted Cash The Company is required by certain states to maintain initial franchise fees in a restricted bank account until the franchise opens. The use of these funds by the Company is restricted until the franchise opens. Cash held in escrow totaled ​ Investment in Leasing Operations The Company uses the direct finance method of accounting to record income from direct financing leases. At the inception of a lease, the Company records the minimum future lease payments receivable, the estimated residual value of the leased equipment and the unearned lease income. Initial direct costs related to lease originations are deferred as part of the investment and amortized over the lease term. Unearned lease income is the amount by which the total lease receivable plus the estimated residual value exceeds the cost of the equipment. ​ Leasing Income Recognition ​ Leasing income for direct financing leases is recognized under the effective interest method. The effective interest method of income recognition applies a constant rate of interest equal to the internal rate of return on the lease. ​ For sales-type leases in which the equipment has a fair value greater or less than its carrying amount, selling profit/loss is recognized at commencement. For subsequent periods or for leases in which the equipment’s fair value is equal to its carrying amount, the recording of income is consistent with the accounting for a direct financing lease. ​ For leases that are accounted for as operating leases, income is recognized on a straight-line basis when payments under the lease contract are due. ​ Generally, when a lease is more than 90 days delinquent (when more than three monthly payments are owed), the lease is classified as being on non-accrual and the Company stops recognizing leasing income on that date. Payments received on leases in non-accrual status generally reduce the lease receivable. Leases on non-accrual status remain classified as such until there is sustained payment performance that, in the Company’s judgment, would indicate that all contractual amounts will be collected in full. ​ Leasing Expense Leasing expense includes the cost of financing equipment purchases, the cost of equipment sales as well as depreciation expense for operating lease assets. ​ Initial Direct Costs The Company defers initial direct costs incurred to originate its leases in accordance with applicable accounting guidance . The initial direct costs deferred are part of the investment in leasing operations and are amortized using the effective interest method. Initial direct costs include commissions and other incremental costs related to originating a lease. ​ Lease Residual Values Residual values reflect the estimated amounts to be received at lease termination from sales or other dispositions of leased equipment to unrelated parties. The leased equipment residual values are based on the Company’s best estimate. ​ Allowance for Credit Losses The Company maintains an allowance for credit losses at an amount that it believes to be sufficient to absorb losses inherent in its existing lease portfolio as of the reporting dates. Leases are collectively evaluated for potential loss. The Company’s methodology for determining the allowance for credit losses includes consideration of the level of delinquencies and non-accrual leases, historical net charge-off amounts and review of any significant concentrations. ​ A provision is charged against earnings to maintain the allowance for credit losses at the appropriate level. If the actual results are different from the Company’s estimates, results could be different. The Company’s policy is to charge-off against the allowance the estimated unrecoverable portion of accounts once they reach 121 days delinquent. ​ Inventories The Company values its inventories at the lower of cost, as determined by the weighted average cost method, and net realizable values. Inventory consists of computer hardware and related accessories. ​ Impairment of Long-lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying amount of the asset exceeds expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. ​ Property and Equipment Property and equipment is stated at cost. Depreciation and amortization for financial reporting purposes is provided on the straight-line method. Estimated useful lives used in calculating depreciation and amortization are: three to five years for computer and peripheral equipment, five to seven years for furniture and equipment and the shorter of the lease term or useful life for leasehold improvements. Major repairs, refurbishments and improvements which significantly extend the useful lives of the related assets are capitalized. Maintenance and repairs, supplies and accessories are charged to expense as incurred. ​ Intangible Assets Intangible assets are amortized over the estimated useful life on a straight line basis. The Company reviews its intangible assets for impairment at its fiscal year end or whenever events or changes in circumstances indicate that there has been impairment in the value of its intangible assets. impairment was noted during fiscal year ended 2022. Intangible assets of ​ Goodwill The Company reviews its goodwill for impairment at its fiscal year end or whenever events or changes in circumstances indicate that there has been impairment in the value of its goodwill. impairment was noted during fiscal years ended 2022, 2021 and 2020. Goodwill of ​ Use of Estimates The preparation of financial statements in conformity with generally accepted U.S. accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The ultimate results could differ from those estimates. ​ Advertising Advertising costs are charged to selling, general and administrative expenses as incurred. Advertising costs were ​ Accounting for Stock-Based Compensation The Company recognizes the cost of all share-based payments to employees, including grants of employee stock options, in the consolidated financial statements based on the grant date fair value of those awards. This cost is recognized over the period for which an employee is required to provide service in exchange for the award. ​ The Company estimates the fair value of options granted using the Black-Scholes option valuation model. The Company estimates the volatility of its common stock at the date of grant based on its historical volatility rate. The Company’s decision to use historical volatility was based upon the lack of actively traded options on its common stock. The Company estimates the expected term based upon historical option exercises. The risk-free interest rate assumption is based on observed interest rates for the expected term. The Company uses historical data to estimate pre-vesting option forfeitures and record share-based compensation expense only for those awards that are expected to vest. For options granted, the Company amortizes the fair value on a straight-line basis. All options are amortized over the vesting periods, which are generally four years beginning from the date of grant. ​ Revenue Recognition – Franchising The following is a description of the principal sources of revenue for the company’s franchising segment. The Company’s performance obligations under franchise agreements consist of (a) a franchise license, including a license to use one of our brands, (b) a point-of-sale software license, (c) initial services, such as pre-opening training and marketing support, and (d) ongoing services, such as marketing services and operational support. These performance obligations are highly interrelated so we do not consider them to be individually distinct and therefore account for them under ASC 606 as a single performance obligation, which is satisfied by providing a right to use our intellectual property over the estimated life of the franchise. The disaggregation of the Company’s franchise revenue is presented within the Revenue lines of the Consolidated Statements of Operations with the amounts included in Revenue: Other delineated below. For more detailed information about reportable segments, see Note 13 – “Segment Reporting”. ​ Royalties The Company collects royalties from each retail franchise based upon a percentage of retail store gross sales. The Company recognizes royalties as revenue when earned. Merchandise Sales Merchandise sales include the sale of point-of-sale technology equipment to franchisees and the sale of a limited amount of sporting goods to certain Play It Again Sports franchisees. Merchandise sales, which includes shipping and handling charges, are recognized at a point in time when the product has been shipped to the franchisee. Shipping and handling costs associated with outbound freight are accounted for as a fulfillment cost and included in cost of merchandise sold. ​ Franchise Fees The Company collects initial franchise fees when franchise agreements are signed. The Company recognizes franchise fee revenue over the estimated life of the franchise, beginning with the opening of the franchise, which is when the Company has performed substantially all initial services required by the franchise agreement and the franchisee benefits from the rights afforded by the franchise agreement. The Company had deferred franchise fee revenue of ​ Marketing Fees Marketing fee revenue is included in the Revenue: Other line of the Consolidated Statements of Operations. The Company bills and collects annual marketing fees from its franchisees at various times throughout the year. The Company recognizes marketing fee revenue on a straight line basis over the franchise duration. The Company recognized ​ Software License Fees Software license fee revenue is included in the Revenue: Other line of the Consolidated Statements of Operations. The Company bills and collects software license fees from its franchisees when the point-of-sale system is provided to the franchisee. The Company recognizes software license fee revenue on a straight line basis over the franchise duration. The Company recognized ​ Contract Liabilities The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees described above. ​ Commission Fees The Company capitalizes incremental commission fees paid as a result of obtaining franchise agreement contracts. Capitalized commission fees of $0.5 million and $0.5 million are outstanding at December 31, 2022 and December 25, 2021, respectively and are included in Prepaid expenses and Other assets in the Consolidated Balance Sheets. ​ Capitalized commission fees are amortized over the life of the franchise and are included in selling, general and administrative expenses. During the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, the Company recognized $100,800, $95,200 and $102,600 of commission fee expense, respectively. ​ Income Taxes The Company accounts for incomes taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ​ ​ ​ The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits in income tax expense. ​ Sales Tax The Company’s accounting policy is to present taxes collected from customers and remitted to government authorities on a net basis. ​ Earnings Per Share The Company calculates earnings per share by dividing net income by the weighted average number of shares of common stock outstanding to arrive at the Earnings Per Share — Basic. The Company calculates Earnings Per Share — Diluted by dividing net income by the weighted average number of shares of common stock and dilutive stock equivalents from the potential exercise of stock options using the treasury stock method. ​ The following table sets forth the presentation of shares outstanding used in the calculation of basic and diluted earnings per share (“EPS”): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 December 25, 2021 December 26, 2020 Denominator for basic EPS — weighted average common shares 3,487,732 3,671,980 3,719,485 ​ Dilutive shares associated with option plans 104,724 138,500 143,779 ​ Denominator for diluted EPS — weighted average common shares and dilutive potential common shares 3,592,456 3,810,480 3,863,264 ​ Options excluded from EPS calculation — anti-dilutive 21,153 20,294 14,822 ​ ​ Fair Value Measurements The Company defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company uses three levels of inputs to measure fair value: ​ ● Level 1 — quoted prices in active markets for identical assets and liabilities. ● Level 2 — observable inputs other than quoted prices in active markets for identical assets and liabilities. ● Level 3 — unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions. ​ Due to their nature, the carrying value of cash equivalents, receivables, payables and debt obligations approximates fair value. ​ Recently Issued Accounting Pronouncements The Company reviewed all recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact on our consolidated financial statements. ​ Reclassifications Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. Such reclassifications did not impact net income or shareholders’ equity (deficit) as previously reported.

Investment in Leasing Operation

Investment in Leasing Operations:	12 Months Ended
	Dec. 31, 2022
Investment in Leasing Operations:
Investment in Leasing Operations:	3. Investment in Leasing Operations: In May 2021, the Company made the decision to no longer solicit new leasing customers in its middle-market leasing business and will pursue an orderly run-off of this leasing portfolio. ​ In August 2020, the Company made the decision to no longer originate financing transactions in its small-ticket financing business. The Company sold the small-ticket portfolio in November 2020 for its approximate carrying value of $0.7 million. Investment in leasing operations consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Direct financing and sales-type leases: ​ ​ ​ ​ ​ ​ Minimum lease payments receivable ​ $ 294,100 ​ $ 3,387,500 Estimated unguaranteed residual value of equipment ​ 461,700 ​ 1,316,100 Unearned lease income, net of initial direct costs deferred ​ (103,800) ​ (418,100) Security deposits ​ (303,300) ​ (1,122,500) Total investment in direct financing and sales-type leases ​ 348,700 ​ 3,163,000 Allowance for credit losses ​ (7,100) ​ (63,600) Net investment in direct financing and sales-type leases ​ 341,600 ​ 3,099,400 Operating leases: ​ ​ ​ ​ ​ ​ Operating lease assets ​ 716,100 ​ 626,200 Less accumulated depreciation and amortization ​ (707,400) ​ (605,700) Net investment in operating leases ​ 8,700 ​ 20,500 Total net investment in leasing operations ​ $ 350,300 ​ $ 3,119,900 ​ As of December 31, 2022, the $350,300 total net investment in leases consisted of $344,900 classified as current and $5,400 classified as long-term. As of December 25, 2021, the $3.1 million total net investment in leases consisted of $2.9 million classified as current and $0.2 million classified as long-term. ​ As of December 31, 2022 and December 25, 2021, no customers had leased assets totaling more than 10% of the Company’s total assets. ​ Future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred, is as follows as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct Financing and Sales-Type Leases ​ Minimum Lease Income Fiscal Year ​ Payments Receivable ​ Amortization 2023 ​ $ 290,600 ​ $ 103,700 ​ 2024 ​ ​ 3,500 ​ ​ 100 ​ ​ ​ $ 294,100 ​ $ 103,800 ​ ​ The activity in the allowance for credit losses for leasing operations during 2022, 2021 and 2020, respectively, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 December 26, 2020 Balance at beginning of period ​ $ 63,600 ​ $ 270,200 ​ $ 580,600 ​ Provisions charged to expense ​ (57,900) ​ (206,600) ​ (79,300) ​ Recoveries ​ 1,400 ​ — ​ (11,800) ​ Deductions for amounts written-off ​ — ​ — ​ (219,300) ​ Balance at end of period ​ $ 7,100 ​ $ 63,600 ​ $ 270,200 ​ ​ The Company’s investment in direct financing and sales-type leases (“Investment In Leases”) and allowance for credit losses by loss evaluation methodology are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ December 25, 2021 ​ Investment Allowance for Investment Allowance for ​ ​ In Leases ​ Credit Losses ​ In Leases ​ Credit Losses Collectively evaluated for loss potential ​ $ 348,700 ​ $ 7,100 ​ $ 3,163,000 ​ $ 63,600 Individually evaluated for loss potential ​ — ​ — ​ — ​ — Total ​ $ 348,700 ​ $ 7,100 ​ $ 3,163,000 ​ $ 63,600 ​ The Company’s key credit quality indicator for its investment in direct financing and sales-type leases is the status of the lease, defined as accruing or non-accrual. Leases that are accruing income are considered to have a lower risk of loss. Non-accrual leases are those that the Company believes have a higher risk of loss. The following table sets forth information regarding the Company’s accruing and non-accrual leases. Delinquent balances are determined based on the contractual terms of the lease. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ 0-60 Days 61-90 Days Over 90 Days ​ ​ ​ ​ ​ ​ Delinquent ​ Delinquent ​ Delinquent and ​ ​ ​ ​ ​ ​ ​ ​ and Accruing ​ and Accruing ​ Accruing ​ Non-Accrual ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total investment in leases ​ $ 348,700 ​ $ — ​ $ — ​ $ — ​ $ 348,700 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 25, 2021 ​ 0-60 Days 61-90 Days Over 90 Days ​ ​ ​ ​ ​ ​ Delinquent ​ Delinquent ​ Delinquent and ​ ​ ​ ​ ​ ​ ​ ​ and Accruing ​ and Accruing ​ Accruing ​ Non-Accrual ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total investment in leases ​ $ 3,163,000 ​ $ — ​ $ — ​ $ — ​ $ 3,163,000 ​ The Company leases high-technology and other business-essential equipment to its leasing customers. Upon expiration of the initial term or extended lease term, depending on the structure of the lease, the customer may return the equipment, renew the lease for an additional term, or purchase the equipment. Due to the uncertainty of such outcome at the end of the lease term, the lease as recorded at commencement represents only the current terms of the agreement. As a lessor, the Company’s leases do not contain non-lease components. The residual values reflect the estimated amounts to be received at lease termination from sales or other dispositions of leased equipment to unrelated parties. The leased equipment residual values are based on the Company’s best estimate. The Company’s risk management strategy for its residual value includes the contractual obligations of its customers to maintain, service, and insure the leased equipment, the use of third party remarketers as well as the analytical review of historical asset dispositions . ​ Leasing income as presented on the Consolidated Statements of Operations consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ Year Ended ​ Year Ended ​ December 31, 2022 December 25, 2021 ​ December 26, 2020 Interest income on direct financing and sales-type leases ​ $ 760,500 ​ $ 1,755,200 $ 3,651,700 Selling profit (loss) at commencement of sales-type leases ​ 1,326,900 ​ 1,829,800 ​ ​ 2,117,500 Operating lease income ​ ​ 2,243,300 ​ ​ 2,017,300 ​ ​ 2,346,500 Income on sales of equipment under lease ​ ​ 1,798,000 ​ ​ 4,799,400 ​ ​ 5,246,000 Other ​ ​ 809,000 ​ ​ 746,600 ​ ​ 1,122,300 Leasing income ​ $ 6,937,700 ​ $ 11,148,300 ​ $ 14,484,000 ​

Receivables_

Receivables:	12 Months Ended
	Dec. 31, 2022
Receivables:
Receivables:	4. Receivables: ​ The Company’s current receivables consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Trade ​ $ 145,000 ​ $ 29,300 ​ Royalty ​ 1,216,600 ​ 1,013,800 ​ Other ​ 77,000 ​ 60,300 ​ ​ ​ $ 1,438,600 ​ $ 1,103,400 ​ ​ As part of its normal operating procedures, the Company requires Standby Letters of Credit as collateral for a portion of its trade receivables.

Intangible Assets_

Intangible Assets:	12 Months Ended
	Dec. 31, 2022
Intangible Assets
Intangible Assets	5. Intangible Assets: ​ In June 2022, Winmark terminated an agreement that contained the rights for eleven Play It Again Sports stores to operate separately from Winmark’s franchise system. In terminating the agreement, which included $3.54 million of consideration paid by Winmark, Winmark reacquired the franchise rights to these eleven stores. Upon termination of the agreement, individual franchise agreements were signed for these eleven stores, each with an initial term of ten years . Intangible assets consist of these reacquired franchise rights. The Company amortizes the fair value of the reacquired franchise rights over the contract term of the franchise. The Company recognized ​ Intangible assets consist of the following: ​ ​ ​ ​ ​ ​ ​ December 31, 2022 Reacquired franchise rights ​ $ 3,540,000 Accumulated amortization ​ (191,700) ​ ​ $ 3,348,300 ​ The following table illustrates future amortization to be expensed for the next five fiscal years and fiscal years thereafter related to reacquired franchise rights as of December 31, 2022. ​ ​ ​ ​ ​ Amortization expected to be expensed in ​ Amount 2023 ​ $ 354,000 2024 ​ 354,000 2025 ​ 354,000 2026 ​ 354,000 2027 ​ 354,000 Thereafter ​ 1,578,300 ​ ​ $ 3,348,300 ​

Shareholders' Equity (Deficit)_

Shareholders' Equity (Deficit):	12 Months Ended
	Dec. 31, 2022
Shareholders' Equity (Deficit):
Shareholders' Equity (Deficit):	6. Shareholders’ Equity (Deficit): Dividends ​ In 2022, the Company declared and paid quarterly cash dividends totaling $2.55 per share ($8.9 million) and a $3.00 per share special cash dividend (the “2022 Special Dividend”). The 2022 Special Dividend totaled $10.4 million and was paid by cash on hand. ​ In 2021, the Company declared and paid quarterly cash dividends totaling $1.60 per share ($5.9 million) and a $7.50 per share special cash dividend (the “2021 Special Dividend”). The 2021 Special Dividend totaled $27.3 million and was paid by cash on hand. ​ In 2020, the Company declared and paid quarterly cash dividends totaling $0.80 per share ($3.0 million) and a $3.00 per share special cash dividend (the “2020 Special Dividend”). The 2020 Special Dividend totaled $11.3 million and was paid by cash on hand. ​ Repurchase of Common Stock In 2022, the Company purchased 226,165 shares of our common stock for an aggregate purchase price of $49.1 million. ​ In 2021, the Company purchased 225,839 shares of our common stock for an aggregate purchase price of $44.2 million. ​ In December 2019, the Company’s Board of Directors authorized the repurchase of up to 300,000 shares of our common stock for a price of $163.00 per share through a tender offer (the “2020 Tender Offer”). The 2020 Tender Offer began on the date of the announcement, December 17, 2019 and expired on January 16, 2020. Upon expiration, the Company purchased 300,000 shares for a total purchase price of approximately $49.0 million, including fees and expenses related to the Tender Offer. The 2020 Tender Offer was financed in part by net borrowings under the Line of Credit. (See Note 7 – “Debt”). ​ Under the Board of Directors’ authorization, as of December 31, 2022 the Company has the ability to repurchase an additional 78,600 shares of its common stock. Repurchases may be made from time to time at prevailing prices, subject to certain restrictions on volume, pricing and timing. ​ Stock Option Plans and Stock-Based Compensation The Company had authorized up to 750,000 shares of common stock for granting either nonqualified or incentive stock options to officers and key employees under the Company’s 2001 Stock Option Plan (the “2001 Plan”). The 2001 Plan expired on February 20, 2011. The Company had authorized up to 700,000 shares of common stock for granting either nonqualified or incentive stock options to officers and key employees under the Company’s 2010 Stock Option Plan (the “2010 Plan”). The 2010 Plan expired on February 24, 2020. The Company had also sponsored a Stock Option Plan for Nonemployee Directors (the “Nonemployee Directors Plan”), which had reserved a total of 350,000 shares for issuance to directors of the Company who are not employees. ​ At the April 29, 2020 Annual Shareholders Meeting, the Company’s shareholders approved a new stock option plan, the 2020 Stock Option Plan (the “2020 Plan”). The 2020 Plan (as described more completely in the Company’s definitive Proxy Statement filed with the United States Securities and Exchange Commission on March 10, 2020) provides for the issuance of up to shares) in the form of either nonqualified or incentive stock option grants. Participants in the 2020 Plan may include employees, officers, directors, consultants and advisors of the Company. ​ Grants under the 2020 Plan are (as they were under the 2001 Plan, 2010 Plan and Nonemployee Directors Plan) made by the Compensation Committee of the Board of Directors at a price of not less than 100% of the fair market value on the date of grant. If an incentive stock option is granted to an individual who owns more than 10% of the voting rights of the Company’s common stock, the option exercise price may not be less than 110% of the fair market value on the date of grant. The term of the options may not exceed 10 years , except in the case of nonqualified stock options, whereby the terms are established by the Compensation Committee. Options may be exercisable in whole or in installments, as determined by the Compensation Committee. ​ Stock option activity under the 2001 Plan, 2010 Plan, 2020 Plan and Nonemployee Directors Plan (collectively, the “Option Plans”) as of December 31, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ Number of ​ Weighted Average ​ Contractual Life ​ ​ ​ ​ ​ Shares ​ Exercise Price ​ (years) ​ Intrinsic Value Outstanding, December 28, 2019 479,558 ​ $ 101.78 5.79 ​ $ 45,283,200 Granted 45,100 ​ ​ 163.87 ​ ​ ​ ​ ​ Exercised (108,170) ​ ​ 76.29 ​ ​ ​ ​ ​ Forfeited ​ (23,000) ​ ​ 148.16 ​ ​ ​ ​ ​ Outstanding, December 26, 2020 393,488 ​ ​ 113.19 5.61 ​ ​ 27,864,900 Granted 72,600 ​ ​ 226.96 ​ ​ ​ ​ ​ Exercised (105,617) ​ ​ 78.78 ​ ​ ​ ​ ​ Forfeited ​ (4,850) ​ ​ 158.48 ​ ​ ​ ​ ​ Outstanding, December 25, 2021 355,621 ​ ​ 146.03 ​ 6.32 ​ ​ 39,320,571 Granted 62,540 ​ ​ 217.03 ​ ​ ​ ​ ​ Exercised (50,032) ​ ​ 94.97 ​ ​ ​ ​ ​ Forfeited (6,501) ​ ​ 183.28 ​ ​ ​ ​ ​ Outstanding, December 31, 2022 361,628 ​ $ 164.70 ​ 6.40 ​ $ 26,688,183 Exercisable, December 31, 2022 217,079 ​ $ 134.28 ​ 4.80 ​ $ 22,253,550 ​ The fair value of options granted under the Option Plans during 2022, 2021 and 2020 were estimated on the date of the grant using the Black-Scholes option pricing model with the following weighted average assumptions and results: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 ​ December 25, 2021 December 26, 2020 Risk free interest rate ​ 3.15 % ​ 1.13 % ​ 0.45 % Expected life (years) ​ 6 ​ ​ 6 ​ ​ 6 ​ Expected volatility ​ 27.58 % ​ 25.51 % ​ 25.03 % Dividend yield ​ 4.29 % ​ 3.13 % ​ 2.33 % Option fair value ​ $ 40.59 ​ $ 37.90 ​ $ 28.25 ​ ​ The total intrinsic value of options exercised during 2022, 2021 and 2020 was $6.6 million, $16.2 million and $8.4 million, respectively. The total fair value of shares vested during 2022, 2021 and 2020 was ​ All unexercised options at December 31, 2022 have an exercise price equal to the fair market value on the date of the grant. ​ Compensation expense of $1,652,400 , $1,435,500 and $1,315,200 relating to the vested portion of the fair value of stock options granted was expensed to “Selling, General and Administrative Expenses” in 2022, 2021 and 2020, respectively. As of December 31, 2022, the Company had $4.6 million of total unrecognized compensation expense related to stock options that is expected to be recognized over the remaining weighted average vesting period of approximately 2.8 years.

Debt_

Debt:	12 Months Ended
	Dec. 31, 2022
Debt:
Debt:	7. Debt: Line of Credit/Term Loan During 2020, the Company’s Line of Credit with CIBC Bank USA (formerly known as the PrivateBank and Trust Company) and BMO Harris Bank N.A. (the “Line of Credit”) was amended to, among other things: ​ ● Decrease the aggregate commitments from $40.0 million to $25.0 million; ● Remove BMO Harris Bank N.A. as a lender under the Credit Agreement; ● Extend the termination date from July 19, 2021 to August 31, 2024; ● Amend the tangible net worth covenant requirement to be reset as of September 26, 2020; ● Permit the Company to issue up to $25.0 million in additional term notes to one or more affiliates or managed accounts of Prudential Investment Management, Inc.; ● Provide the consent of CIBC Bank USA for the 2020 Special Dividend; ● Amend the fixed charge coverage ratio definition to remove the effect of the 2020 Special Dividend. ​ During 2021, the Line of Credit was amended to, among other things: ● Permit the Company to issue up to $30.0 million in additional term notes to one or more affiliates or managed accounts of PGIM, Inc. (formerly Prudential Investment Management, Inc.) (collectively, “Prudential”); ● Remove the tangible net worth covenant minimum requirement, amend the fixed charge coverage ratio definition, and amend the restricted payments covenant to allow the Company more flexibility with respect to shareholder distributions and/or common stock repurchases as long as certain conditions are met (as defined within the amendment); ● Amend the provisions that allow for the replacement of LIBOR as an interest rate option in connection with borrowings under the Line of Credit. ​ During 2022, the Line of Credit was amended to, among other things: ​ ● Provide for a new $30.0 million delayed draw term facility, with available draws summarized as follows: o The Company may draw up to five (5) loans over a period of 18 months , each draw having a principal amount not less than $3.0 million (or higher integral multiples of $1.0 million), with aggregate draws outstanding not to exceed $30.0 million; o The final maturity of all drawn loans of April 12, 2029, with all payments of principal due on such date; o Interest at a rate to be determined at the time of each draw, payable monthly in arrears on the outstanding aggregate principal balance. ● Decrease the aggregate commitments for revolving loans from $25.0 million to $20.0 million; ● Extend the termination date for revolving loans from August 31, 2024 to April 12, 2027; ● Remove the borrowing base covenant restriction for revolving loans; ● Replace LIBOR with SOFR as an interest rate option in connection with borrowings on revolving loans and adjust the definition of and reduce the applicable margin to reflect such replacement; ● Amend the fixed charge coverage ratio definition to exclude principal payments on non-amortizing term loans that are refinanced with proceeds from permitted debt (as defined within the amendment); ● Permit the Company to issue additional term notes under a new Private Shelf Agreement with Prudential as described below. ​ As of December 31, 2022, there were no revolving loans outstanding under the Line of Credit, leaving $20.0 million available for additional revolving borrowings. During the year ended December 31, 2022, the Company had delayed draw term loan borrowings totaling ​ The Line of Credit has been and will continue to be used for general corporate purposes. During 2020, the Line of Credit was used to finance in part the 2020 Tender Offer (as indicated above in Note 6). The Line of Credit is secured by a lien against substantially all of the Company’s assets, contains customary financial conditions and covenants, and requires maintenance of minimum levels of debt service coverage and maximum levels of leverage (all as defined within the Line of Credit). As of December 31, 2022, the Company was in compliance with all of its financial covenants. ​ The Line of Credit allows the Company to choose between two interest rate options in connection with its borrowings. The interest rate options are the Base Rate (as defined) and the SOFR Rate (as defined) plus an applicable margin of 0% and 1.75% , respectively. Interest periods for SOFR borrowings can be one month. The Line of Credit also provides for non-utilization fees of 0.25% per annum on the daily average of the unused commitment. ​ Notes Payable The Company has a Note Agreement (the “Note Agreement”) with Prudential. ​ During 2020, the Note Agreement was amended to, among other things, amend the tangible net worth covenant requirement to be reset as of September 26, 2020, provide the consent of Prudential for the declaration and payment of the 2020 Special Dividend and to amend the fixed charge coverage ratio definition to remove the effect of the 2020 Special Dividend. ​ During 2021, the Note Agreement was amended to, among other things: ​ ● Provide for the issuance of $30.0 million in new senior secured notes; ● Remove the tangible net worth covenant minimum requirement, amend the fixed charge coverage ratio definition, and amend the restricted payments covenant to allow the Company more flexibility with respect to shareholder distributions and/or common stock repurchase as long as certain conditions are met (as defined within the amendment). ​ During 2022, the Note Agreement with Prudential was amended to, among other things: ● Permit the Company to incur the obligations described in and conform to the changes made by the Company’s entry into the amendments to the Line of Credit described above; ● Permit the Company to incur the obligations described in and conform to the changes made by the Company’s entry into the Shelf Agreement described below. ​ As of December 31, 2022, the Company had aggregate principal outstanding of $43.4 million under the Note Agreement; consisting of $7.5 million in principal outstanding from the $25.0 million Series A notes issued in May 2015, $5.9 million in principal outstanding from the $12.5 million Series B notes issued in August 2017 and $30.0 million in principal outstanding from the $30.0 million Series C notes issued in September 2021. ​ The final maturity of the Series A and Series B notes is 10 years from the issuance date. The final maturity of the Series C notes is 7 years from the issuance date. For the Series A notes, interest at a rate of 5.50% per annum on the outstanding principal balance is payable quarterly, along with required prepayments of the principal of $500,000 quarterly for the first five years, and $750,000 quarterly thereafter until the principal is paid in full. For the Series B notes, interest at a rate of 5.10% per annum on the outstanding principal balance is payable quarterly, along with required prepayments of the principal of $312,500 quarterly until the principal is paid in full. For the Series C notes, interest at a rate of 3.18% per annum on the outstanding principal balance is payable quarterly until the principal is paid in full. The Series A, Series B and Series C notes may be prepaid, at the option of the Company, in whole or in part (in a minimum amount of $1.0 million), but prepayments require payment of a Yield Maintenance Amount, as defined in the Note Agreement. ​ The Company’s obligations under the Note Agreement are secured by a lien against substantially all of the Company’s assets (as the notes rank pari passu with the Line of Credit), and the Note Agreement contains customary financial conditions and covenants, and requires maintenance of minimum levels of fixed charge coverage and maximum levels of leverage (all as defined within the Note Agreement). As of December 31, 2022, the Company was in compliance with all of its financial covenants. ​ In connection with the Note Agreement, the Company incurred debt issuance costs, of which unamortized amounts are presented as a direct deduction from the carrying amount of the related liability. ​ In April 2022, the Company entered into a Private Shelf Agreement (the “Shelf Agreement”) with Prudential, summarized as follows: ● For a period three years from entry into the Shelf Agreement, subject to certain customary conditions, the Company may offer and Prudential may purchase from the Company privately negotiated senior notes (“Shelf Notes”) in the aggregate principal amount up to (i) $100.0 million, less (ii) the aggregate principal amount of notes outstanding at such point (including notes outstanding under the existing Prudential Note Agreement); ● Each Shelf Note issued will have an average life and maturity of no more than 12.5 years from the date of original issuance, with interest payable at a rate per annum determined at the time of each issuance; ● The Shelf Notes will be secured by all of the Company’s assets and the Shelf Notes will rank pari passu with the Company’s obligations to the lenders under the amended Line of Credit and the amended Note Agreement; ● The Shelf Notes may be prepaid, at the option of the Company, in whole or in part (in a minimum amount of $1 million), but prepayments will require payment of a Yield Maintenance Amount (as defined within the Shelf Agreement); ● The Shelf Agreement contains customary affirmative covenants and negative covenants that are substantially the same as those contained in the amended Line of Credit and amended Note Agreement. ​ As of December 31, 2022, the Company had not issued any notes under the Shelf Agreement and was in compliance with all of its financial covenants. ​ As of December 31, 2022, required payments of the notes payable and term loans for each of the next five years and thereafter are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notes Payable ​ Term Loans 2023 $ 4,250,000 ​ $ — 2024 4,250,000 ​ — 2025 2,750,000 ​ — 2026 ​ 1,250,000 ​ ​ — 2027 937,500 ​ — Thereafter ​ 30,000,000 ​ ​ 30,000,000 Total $ 43,437,500 ​ $ 30,000,000 ​

Accrued Liabilities_

Accrued Liabilities:	12 Months Ended
	Dec. 31, 2022
Accrued Liabilities
Accrued Liabilities:	8. Accrued Liabilities: ​ Accrued liabilities at December 31, 2022 and December 25, 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Accrued compensation and benefits ​ $ 755,100 ​ $ 1,085,800 ​ Rent related liabilities ​ 542,100 ​ 497,600 ​ Accrued interest ​ 282,300 ​ 162,200 ​ Accrued purchases of goods and services ​ ​ 129,400 ​ ​ 175,100 ​ Other ​ 902,800 ​ 80,300 ​ ​ ​ $ 2,611,700 ​ $ 2,001,000 ​ ​

Contract Liabilities_

Contract Liabilities:	12 Months Ended
	Dec. 31, 2022
Contract Liabilities:
Contract Liabilities:	9. Contract Liabilities: ​ The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees. The table below presents the activity of the current and noncurrent deferred franchise revenue during fiscal years 2022 and 2021, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Balance at beginning of period ​ $ 8,508,500 ​ $ 8,708,300 Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period ​ 1,951,800 ​ 1,583,700 Fees earned that were included in the balance at the beginning of the period ​ (1,842,200) ​ (1,783,500) Balance at end of period ​ $ 8,618,100 ​ $ 8,508,500 ​ The following table illustrates future estimated revenue to be recognized for the next five fiscal years and fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 31, 2022: ​ ​ ​ ​ ​ Contract Liabilities expected to be recognized in ​ Amount 2023 ​ $ 1,643,900 2024 ​ 1,446,100 2025 ​ 1,229,800 2026 ​ 1,025,300 2027 ​ 850,700 Thereafter ​ 2,422,300 ​ ​ $ 8,618,100 ​

Operating Leases_

Operating Leases:	12 Months Ended
	Dec. 31, 2022
Operating Leases:
Operating Leases:	10. Operating Leases As of December 31, 2022, the Company leases its Minnesota corporate headquarters in a facility with an operating lease that expires in December 2029. Our lease includes both lease (fixed payments including rent) and non-lease components (common area or other maintenance costs and taxes) which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. The lease provides us the option to extend the lease for two additional five year periods. The lease renewal option is at our sole discretion; therefore, the renewals to extend the lease term are not included in our right of use asset and lease liabilities as they are not reasonably certain of exercise. The weighted average remaining lease term for this lease is 7.0 years and the discount rate is 5.5% . As our lease does not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The Company recognized $1,207,200 , $1,178,400 and $1,195,000 of rent expense for the periods ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively. ​ Maturities of operating lease liabilities is as follows as of December 31, 2022: ​ ​ ​ ​ ​ Operating Lease Liabilities expected to be recognized in Amount 2023 ​ $ 763,300 2024 ​ 784,400 2025 ​ 806,000 2026 ​ 828,200 2027 ​ 851,100 Thereafter ​ 1,773,200 Total lease payments ​ ​ 5,806,200 Less imputed interest ​ ​ (996,100) Present value of lease liabilities ​ $ 4,810,100 ​ Of the $4.8 million operating lease liability outstanding at December 31, 2022, $0.5 million is included in Accrued liabilities in the Current liabilities section of the Consolidated Balance Sheets. ​ For leases that contain predetermined fixed escalations of the minimum rent, we recognize the related rent expense on a straight-line basis from the date we take possession of the property to the end of the initial lease term. We record any difference between the straight-line rent amounts and amounts payable under the leases as an adjustment to the amortization of the operating lease right of use asset and operating lease liabilities. ​ Cash or lease incentives received upon entering into certain leases (“tenant allowances”) are recognized on a straight-line basis as a reduction to rent from the date we take possession of the property through the end of the initial lease term. In 2019, we recorded a $2.1 million tenant allowance for non-cash landlord leasehold improvements received as a reduction to the operating lease right of use asset. The reduction in rent also causes a reduction in the amortization of the operating lease right of use asset through the end of the initial lease term. ​ The Company’s policy for leases with a term of twelve months or less is to exclude these short-term leases from our right of use asset and lease liabilities. ​ Supplemental cash flow information related to our operating leases is as follows for the periods ended December 31, 2022 and December 25, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 December 25, 2021 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ Operating cash flow outflow from operating leases ​ $ 742,900 ​ $ 723,100 ​ ​

Income Taxes_

Income Taxes:	12 Months Ended
	Dec. 31, 2022
Income Taxes:
Income Taxes:	11. Income Taxes: A reconciliation of the expected federal income tax expense based on the federal statutory tax rate to the actual income tax expense is provided below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 December 25, 2021 December 26, 2020 Federal income tax expense at statutory rate (21%, 21%, 21%) ​ $ 10,664,500 ​ $ 10,472,100 ​ $ 8,088,600 ​ Change in valuation allowance ​ (6,600) ​ (1,914,400) ​ 54,000 ​ State and local income taxes, net of federal benefit ​ 1,515,900 ​ 1,546,400 ​ 1,368,500 ​ Permanent differences, including stock option expenses ​ (955,900) ​ (2,332,600) ​ (1,027,300) ​ Expiration of attributes ​ ​ — ​ ​ 2,057,000 ​ ​ — ​ Adjustment to uncertain tax positions ​ ​ 185,300 ​ ​ 163,400 ​ ​ 85,100 ​ Other, net ​ (44,600) ​ (44,500) ​ 125,200 ​ Actual income tax expense ​ $ 11,358,600 ​ $ 9,947,400 ​ $ 8,694,100 ​ ​ Components of the provision for income taxes are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 December 25, 2021 December 26, 2020 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 8,892,200 ​ $ 8,782,000 ​ $ 7,836,000 ​ State ​ 2,167,900 ​ 2,193,900 ​ 1,795,800 ​ Foreign ​ 586,200 ​ 333,500 ​ 286,000 ​ Current provision ​ 11,646,300 ​ 11,309,400 ​ 9,917,800 ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ (351,500) ​ (1,435,000) ​ (1,202,100) ​ State ​ 63,800 ​ 73,000 ​ (21,600) ​ Deferred provision ​ (287,700) ​ (1,362,000) ​ (1,223,700) ​ Total provision for income taxes ​ $ 11,358,600 ​ $ 9,947,400 ​ $ 8,694,100 ​ ​ The tax effects of temporary differences that give rise to the net deferred income tax assets and liabilities are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Accounts receivable and lease reserves ​ $ 1,900 ​ $ 15,500 ​ Non-qualified stock option expense ​ 1,540,100 ​ 1,405,400 ​ Deferred revenue ​ 1,584,600 ​ 1,663,500 ​ Trademarks ​ 34,700 ​ 32,600 ​ Lease deposits ​ 72,700 ​ 270,500 ​ Impairment of note investments ​ 529,500 ​ 532,000 ​ Lease revenue and initial direct costs ​ ​ 63,400 ​ ​ — ​ Foreign tax credits ​ ​ 372,100 ​ ​ 376,200 ​ Valuation allowance ​ (901,600) ​ (908,200) ​ Other ​ 271,600 ​ 276,500 ​ Total deferred tax assets ​ 3,569,000 ​ 3,664,000 ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Lease revenue and initial direct costs ​ — ​ (362,200) ​ Depreciation and amortization ​ (28,600) ​ (49,100) ​ Total deferred tax liabilities ​ (28,600) ​ (411,300) ​ Total net deferred tax assets ​ $ 3,540,400 ​ $ 3,252,700 ​ ​ The Company has assessed its taxable earnings history and prospective future taxable income. Based upon this assessment, the Company has determined that it is more likely than not that its deferred tax assets will be realized in future periods and no valuation allowance is necessary, except for the deferred tax assets related to the impairment of note investments (which is a capital loss for tax purposes) and the foreign tax credits. As a result, valuation allowances of ​ The amount of unrecognized tax benefits, including interest and penalties, as of December 31, 2022 and December 25, 2021, was $1,050,300 and $821,700, respectively, primarily for potential state taxes. ​ The Company recognizes interest accrued related to unrecognized tax benefits and penalties as income tax expense for all periods presented. The Company had accrued approximately ​ The following table summarizes the activity related to the Company’s unrecognized tax benefits: ​ ​ ​ ​ ​ ​ ​ Total Balance at December 26, 2020 ​ $ 510,100 ​ Increases related to current year tax positions ​ 190,000 ​ Expiration of the statute of limitations for the assessment of taxes ​ (22,900) ​ Balance at December 25, 2021 ​ ​ 677,200 ​ Increases related to current year tax positions ​ 266,800 ​ Subtractions for tax positions of prior years ​ (72,700) ​ Balance at December 31, 2022 ​ $ 871,300 ​ ​ The Company and its subsidiaries file income tax returns in the U.S. federal, numerous state and certain foreign jurisdictions. With few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2018. We expect various statutes of limitation to expire during the next 12 months. Due to the uncertain response of taxing authorities, a range of outcomes cannot be reasonably estimated at this time.

Commitments and Contingencies_

Commitments and Contingencies:	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies:
Commitments and Contingencies:	12. Commitments and Contingencies: Employee Benefit Plan ​ The Company provides a 401(k) Savings Incentive Plan which covers substantially all employees. The plan provides for matching contributions and optional profit-sharing contributions at the discretion of the Board of Directors. Employee contributions are fully vested; matching and profit sharing contributions are subject to a five-year service vesting schedule. Company contributions to the plan for 2022, 2021 and 2020 were $397,700 , $348,200 and $324,000 , respectively. ​ Litigation From time to time, the Company is exposed to asserted and unasserted legal claims encountered in the normal course of business. Management believes that the ultimate resolution of these matters will not have a material adverse effect on the consolidated financial position or results of operations of the Company.

Segment Reporting_

Segment Reporting:	12 Months Ended
	Dec. 31, 2022
Segment Reporting:
Segment Reporting:	13. Segment Reporting: As of December 31, 2022, the Company has two reportable business segments, franchising and leasing. The franchising segment franchises value-oriented retail store concepts that buy, sell and trade merchandise. The leasing segment includes the Company’s equipment leasing business. Segment reporting is intended to give financial statement users a better view of how the Company manages and evaluates its businesses. The Company’s internal management reporting is the basis for the information disclosed for its business segments and includes allocation of shared-service costs. Segment assets are those that are directly used in or identified with segment operations, including cash, restricted cash, accounts receivable, prepaid expenses, inventory, property and equipment, investment in leasing operations, intangible assets and goodwill. Unallocated assets include corporate cash and cash equivalents, current and deferred tax amounts, operating lease right of use assets and other corporate assets. Inter-segment balances and transactions have been eliminated. The following tables summarize financial information by segment and provide a reconciliation of segment contribution to operating income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ December 31, 2022 December 25, 2021 December 26, 2020 Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Franchising ​ $ 74,473,100 ​ $ 67,067,900 ​ $ 51,577,800 ​ Leasing ​ 6,937,700 ​ 11,148,300 ​ 14,484,000 ​ Total revenue ​ $ 81,410,800 ​ $ 78,216,200 ​ $ 66,061,800 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation to operating income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Franchising segment contribution ​ $ 49,007,900 ​ $ 44,832,100 ​ $ 31,880,200 ​ Leasing segment contribution ​ 4,604,900 ​ 6,504,100 ​ 8,331,300 ​ Total operating income ​ $ 53,612,800 ​ $ 51,336,200 ​ $ 40,211,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Franchising ​ $ 463,100 ​ $ 243,900 ​ $ 285,300 ​ Leasing ​ 140,000 ​ 186,700 ​ 199,400 ​ Total depreciation and amortization ​ $ 603,100 ​ $ 430,600 ​ $ 484,700 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ December 31, 2022 December 25, 2021 Identifiable assets: ​ ​ ​ ​ ​ ​ Franchising ​ $ 8,901,000 ​ $ 4,907,800 Leasing ​ 784,300 ​ 3,600,500 Unallocated ​ 20,770,400 ​ 18,390,700 Total ​ $ 30,455,700 ​ $ 26,899,000 ​ Revenues are all generated from United States operations other than franchising revenues from Canadian operations of $6.4 million, $4.9 million and $4.0 million in each of fiscal 2022, 2021 and 2020, respectively. All long-lived assets are located within the United States.

Significant Accounting Polici_2

Significant Accounting Policies: (Policies)	12 Months Ended
	Dec. 31, 2022
Significant Accounting Policies:
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Winmark Capital Corporation, Wirth Business Credit, Inc. and Grow Biz Games, Inc. All material inter-company transactions have been eliminated in consolidation. ​
Cash Equivalents	Cash Equivalents Cash equivalents consist of highly liquid investments with an original maturity of three months or less when purchased. Cash equivalents are stated at cost, which approximates fair value. As of December 31, 2022 and December 25, 2021, the Company had , respectively, of cash located in Canadian banks. The Company holds its cash and cash equivalents with financial institutions and at times, such balances may be in excess of insurance limits.
Receivables	Receivables The Company provides an allowance for doubtful accounts on trade receivables. The allowance for doubtful accounts was at December 31, 2022 and December 25, 2021 respectively. If receivables in excess of the provided allowance are determined uncollectible, they are charged to expense in the year the determination is made. Trade receivables are written off when they become uncollectible (which generally occurs when the franchise terminates and there is no reasonable expectation of collection), and payments subsequently received on such receivable are credited to the allowance for doubtful accounts. Historically, receivables balances written off have not exceeded allowances provided. ​
Restricted Cash	Restricted Cash The Company is required by certain states to maintain initial franchise fees in a restricted bank account until the franchise opens. The use of these funds by the Company is restricted until the franchise opens. Cash held in escrow totaled ​
Investment in Leasing Operations	Investment in Leasing Operations The Company uses the direct finance method of accounting to record income from direct financing leases. At the inception of a lease, the Company records the minimum future lease payments receivable, the estimated residual value of the leased equipment and the unearned lease income. Initial direct costs related to lease originations are deferred as part of the investment and amortized over the lease term. Unearned lease income is the amount by which the total lease receivable plus the estimated residual value exceeds the cost of the equipment. ​ Leasing Income Recognition ​ Leasing income for direct financing leases is recognized under the effective interest method. The effective interest method of income recognition applies a constant rate of interest equal to the internal rate of return on the lease. ​ For sales-type leases in which the equipment has a fair value greater or less than its carrying amount, selling profit/loss is recognized at commencement. For subsequent periods or for leases in which the equipment’s fair value is equal to its carrying amount, the recording of income is consistent with the accounting for a direct financing lease. ​ For leases that are accounted for as operating leases, income is recognized on a straight-line basis when payments under the lease contract are due. ​ Generally, when a lease is more than 90 days delinquent (when more than three monthly payments are owed), the lease is classified as being on non-accrual and the Company stops recognizing leasing income on that date. Payments received on leases in non-accrual status generally reduce the lease receivable. Leases on non-accrual status remain classified as such until there is sustained payment performance that, in the Company’s judgment, would indicate that all contractual amounts will be collected in full. ​ Leasing Expense Leasing expense includes the cost of financing equipment purchases, the cost of equipment sales as well as depreciation expense for operating lease assets. ​ Initial Direct Costs The Company defers initial direct costs incurred to originate its leases in accordance with applicable accounting guidance . The initial direct costs deferred are part of the investment in leasing operations and are amortized using the effective interest method. Initial direct costs include commissions and other incremental costs related to originating a lease. ​ Lease Residual Values Residual values reflect the estimated amounts to be received at lease termination from sales or other dispositions of leased equipment to unrelated parties. The leased equipment residual values are based on the Company’s best estimate. ​ Allowance for Credit Losses The Company maintains an allowance for credit losses at an amount that it believes to be sufficient to absorb losses inherent in its existing lease portfolio as of the reporting dates. Leases are collectively evaluated for potential loss. The Company’s methodology for determining the allowance for credit losses includes consideration of the level of delinquencies and non-accrual leases, historical net charge-off amounts and review of any significant concentrations. ​ A provision is charged against earnings to maintain the allowance for credit losses at the appropriate level. If the actual results are different from the Company’s estimates, results could be different. The Company’s policy is to charge-off against the allowance the estimated unrecoverable portion of accounts once they reach 121 days delinquent. ​
Inventories	Inventories The Company values its inventories at the lower of cost, as determined by the weighted average cost method, and net realizable values. Inventory consists of computer hardware and related accessories. ​
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying amount of the asset exceeds expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. ​
Property and Equipment	Property and Equipment Property and equipment is stated at cost. Depreciation and amortization for financial reporting purposes is provided on the straight-line method. Estimated useful lives used in calculating depreciation and amortization are: three to five years for computer and peripheral equipment, five to seven years for furniture and equipment and the shorter of the lease term or useful life for leasehold improvements. Major repairs, refurbishments and improvements which significantly extend the useful lives of the related assets are capitalized. Maintenance and repairs, supplies and accessories are charged to expense as incurred. ​
Intangible Assets	Intangible Assets Intangible assets are amortized over the estimated useful life on a straight line basis. The Company reviews its intangible assets for impairment at its fiscal year end or whenever events or changes in circumstances indicate that there has been impairment in the value of its intangible assets. impairment was noted during fiscal year ended 2022. Intangible assets of
Goodwill	Goodwill The Company reviews its goodwill for impairment at its fiscal year end or whenever events or changes in circumstances indicate that there has been impairment in the value of its goodwill. impairment was noted during fiscal years ended 2022, 2021 and 2020. Goodwill of
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted U.S. accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The ultimate results could differ from those estimates. ​
Advertising	Advertising Advertising costs are charged to selling, general and administrative expenses as incurred. Advertising costs were ​
Accounting for Stock-Based Compensation	Accounting for Stock-Based Compensation The Company recognizes the cost of all share-based payments to employees, including grants of employee stock options, in the consolidated financial statements based on the grant date fair value of those awards. This cost is recognized over the period for which an employee is required to provide service in exchange for the award. ​ The Company estimates the fair value of options granted using the Black-Scholes option valuation model. The Company estimates the volatility of its common stock at the date of grant based on its historical volatility rate. The Company’s decision to use historical volatility was based upon the lack of actively traded options on its common stock. The Company estimates the expected term based upon historical option exercises. The risk-free interest rate assumption is based on observed interest rates for the expected term. The Company uses historical data to estimate pre-vesting option forfeitures and record share-based compensation expense only for those awards that are expected to vest. For options granted, the Company amortizes the fair value on a straight-line basis. All options are amortized over the vesting periods, which are generally four years beginning from the date of grant. ​
Revenue Recognition - Franchising	Revenue Recognition – Franchising The following is a description of the principal sources of revenue for the company’s franchising segment. The Company’s performance obligations under franchise agreements consist of (a) a franchise license, including a license to use one of our brands, (b) a point-of-sale software license, (c) initial services, such as pre-opening training and marketing support, and (d) ongoing services, such as marketing services and operational support. These performance obligations are highly interrelated so we do not consider them to be individually distinct and therefore account for them under ASC 606 as a single performance obligation, which is satisfied by providing a right to use our intellectual property over the estimated life of the franchise. The disaggregation of the Company’s franchise revenue is presented within the Revenue lines of the Consolidated Statements of Operations with the amounts included in Revenue: Other delineated below. For more detailed information about reportable segments, see Note 13 – “Segment Reporting”. ​ Royalties The Company collects royalties from each retail franchise based upon a percentage of retail store gross sales. The Company recognizes royalties as revenue when earned. Merchandise Sales Merchandise sales include the sale of point-of-sale technology equipment to franchisees and the sale of a limited amount of sporting goods to certain Play It Again Sports franchisees. Merchandise sales, which includes shipping and handling charges, are recognized at a point in time when the product has been shipped to the franchisee. Shipping and handling costs associated with outbound freight are accounted for as a fulfillment cost and included in cost of merchandise sold. ​ Franchise Fees The Company collects initial franchise fees when franchise agreements are signed. The Company recognizes franchise fee revenue over the estimated life of the franchise, beginning with the opening of the franchise, which is when the Company has performed substantially all initial services required by the franchise agreement and the franchisee benefits from the rights afforded by the franchise agreement. The Company had deferred franchise fee revenue of ​ Marketing Fees Marketing fee revenue is included in the Revenue: Other line of the Consolidated Statements of Operations. The Company bills and collects annual marketing fees from its franchisees at various times throughout the year. The Company recognizes marketing fee revenue on a straight line basis over the franchise duration. The Company recognized ​ Software License Fees Software license fee revenue is included in the Revenue: Other line of the Consolidated Statements of Operations. The Company bills and collects software license fees from its franchisees when the point-of-sale system is provided to the franchisee. The Company recognizes software license fee revenue on a straight line basis over the franchise duration. The Company recognized ​ Contract Liabilities The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees described above. ​ Commission Fees The Company capitalizes incremental commission fees paid as a result of obtaining franchise agreement contracts. Capitalized commission fees of $0.5 million and $0.5 million are outstanding at December 31, 2022 and December 25, 2021, respectively and are included in Prepaid expenses and Other assets in the Consolidated Balance Sheets. ​ Capitalized commission fees are amortized over the life of the franchise and are included in selling, general and administrative expenses. During the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, the Company recognized $100,800, $95,200 and $102,600 of commission fee expense, respectively. ​
Income Taxes	Income Taxes The Company accounts for incomes taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ​ ​ ​ The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits in income tax expense. ​
Sales Tax	Sales Tax The Company’s accounting policy is to present taxes collected from customers and remitted to government authorities on a net basis. ​
Earnings Per Share	Earnings Per Share The Company calculates earnings per share by dividing net income by the weighted average number of shares of common stock outstanding to arrive at the Earnings Per Share — Basic. The Company calculates Earnings Per Share — Diluted by dividing net income by the weighted average number of shares of common stock and dilutive stock equivalents from the potential exercise of stock options using the treasury stock method. ​ The following table sets forth the presentation of shares outstanding used in the calculation of basic and diluted earnings per share (“EPS”): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 December 25, 2021 December 26, 2020 Denominator for basic EPS — weighted average common shares 3,487,732 3,671,980 3,719,485 ​ Dilutive shares associated with option plans 104,724 138,500 143,779 ​ Denominator for diluted EPS — weighted average common shares and dilutive potential common shares 3,592,456 3,810,480 3,863,264 ​ Options excluded from EPS calculation — anti-dilutive 21,153 20,294 14,822 ​ ​
Fair Value Measurements	Fair Value Measurements The Company defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company uses three levels of inputs to measure fair value: ​ ● Level 1 — quoted prices in active markets for identical assets and liabilities. ● Level 2 — observable inputs other than quoted prices in active markets for identical assets and liabilities. ● Level 3 — unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions. ​ Due to their nature, the carrying value of cash equivalents, receivables, payables and debt obligations approximates fair value. ​
Recent Accounting Pronouncements:	Recently Issued Accounting Pronouncements The Company reviewed all recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact on our consolidated financial statements. ​
Reclassifications	Reclassifications Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. Such reclassifications did not impact net income or shareholders’ equity (deficit) as previously reported.

Significant Accounting Polici_3

Significant Accounting Policies: (Tables)	12 Months Ended
	Dec. 31, 2022
Significant Accounting Policies:
Schedule of shares outstanding used in the calculation of basic and diluted earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 December 25, 2021 December 26, 2020 Denominator for basic EPS — weighted average common shares 3,487,732 3,671,980 3,719,485 ​ Dilutive shares associated with option plans 104,724 138,500 143,779 ​ Denominator for diluted EPS — weighted average common shares and dilutive potential common shares 3,592,456 3,810,480 3,863,264 ​ Options excluded from EPS calculation — anti-dilutive 21,153 20,294 14,822 ​ ​

Investment in Leasing Operati_2

Investment in Leasing Operations: (Tables)	12 Months Ended
	Dec. 31, 2022
Investment in Leasing Operations:
Schedule of investment in leasing operations	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Direct financing and sales-type leases: ​ ​ ​ ​ ​ ​ Minimum lease payments receivable ​ $ 294,100 ​ $ 3,387,500 Estimated unguaranteed residual value of equipment ​ 461,700 ​ 1,316,100 Unearned lease income, net of initial direct costs deferred ​ (103,800) ​ (418,100) Security deposits ​ (303,300) ​ (1,122,500) Total investment in direct financing and sales-type leases ​ 348,700 ​ 3,163,000 Allowance for credit losses ​ (7,100) ​ (63,600) Net investment in direct financing and sales-type leases ​ 341,600 ​ 3,099,400 Operating leases: ​ ​ ​ ​ ​ ​ Operating lease assets ​ 716,100 ​ 626,200 Less accumulated depreciation and amortization ​ (707,400) ​ (605,700) Net investment in operating leases ​ 8,700 ​ 20,500 Total net investment in leasing operations ​ $ 350,300 ​ $ 3,119,900 ​
Schedule of future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred	Future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred, is as follows as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct Financing and Sales-Type Leases ​ Minimum Lease Income Fiscal Year ​ Payments Receivable ​ Amortization 2023 ​ $ 290,600 ​ $ 103,700 ​ 2024 ​ ​ 3,500 ​ ​ 100 ​ ​ ​ $ 294,100 ​ $ 103,800 ​ ​
Schedule of activity in the allowance for credit losses for leasing operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 December 26, 2020 Balance at beginning of period ​ $ 63,600 ​ $ 270,200 ​ $ 580,600 ​ Provisions charged to expense ​ (57,900) ​ (206,600) ​ (79,300) ​ Recoveries ​ 1,400 ​ — ​ (11,800) ​ Deductions for amounts written-off ​ — ​ — ​ (219,300) ​ Balance at end of period ​ $ 7,100 ​ $ 63,600 ​ $ 270,200 ​ ​
Schedule of investment in direct financing and sales-type leases ("Investment in Leases") and allowance for credit losses by loss evaluation methodology	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ December 25, 2021 ​ Investment Allowance for Investment Allowance for ​ ​ In Leases ​ Credit Losses ​ In Leases ​ Credit Losses Collectively evaluated for loss potential ​ $ 348,700 ​ $ 7,100 ​ $ 3,163,000 ​ $ 63,600 Individually evaluated for loss potential ​ — ​ — ​ — ​ — Total ​ $ 348,700 ​ $ 7,100 ​ $ 3,163,000 ​ $ 63,600 ​
Schedule of information regarding accruing and non-accrual leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ 0-60 Days 61-90 Days Over 90 Days ​ ​ ​ ​ ​ ​ Delinquent ​ Delinquent ​ Delinquent and ​ ​ ​ ​ ​ ​ ​ ​ and Accruing ​ and Accruing ​ Accruing ​ Non-Accrual ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total investment in leases ​ $ 348,700 ​ $ — ​ $ — ​ $ — ​ $ 348,700 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 25, 2021 ​ 0-60 Days 61-90 Days Over 90 Days ​ ​ ​ ​ ​ ​ Delinquent ​ Delinquent ​ Delinquent and ​ ​ ​ ​ ​ ​ ​ ​ and Accruing ​ and Accruing ​ Accruing ​ Non-Accrual ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total investment in leases ​ $ 3,163,000 ​ $ — ​ $ — ​ $ — ​ $ 3,163,000 ​
Schedule of components of leasing income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ Year Ended ​ Year Ended ​ December 31, 2022 December 25, 2021 ​ December 26, 2020 Interest income on direct financing and sales-type leases ​ $ 760,500 ​ $ 1,755,200 $ 3,651,700 Selling profit (loss) at commencement of sales-type leases ​ 1,326,900 ​ 1,829,800 ​ ​ 2,117,500 Operating lease income ​ ​ 2,243,300 ​ ​ 2,017,300 ​ ​ 2,346,500 Income on sales of equipment under lease ​ ​ 1,798,000 ​ ​ 4,799,400 ​ ​ 5,246,000 Other ​ ​ 809,000 ​ ​ 746,600 ​ ​ 1,122,300 Leasing income ​ $ 6,937,700 ​ $ 11,148,300 ​ $ 14,484,000

Receivables_ (Tables)

Receivables: (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables:
Schedule of the Company's current receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Trade ​ $ 145,000 ​ $ 29,300 ​ Royalty ​ 1,216,600 ​ 1,013,800 ​ Other ​ 77,000 ​ 60,300 ​ ​ ​ $ 1,438,600 ​ $ 1,103,400 ​ ​

Intangible Assets_ (Tables)

Intangible Assets: (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible Assets
Schedule of amortized intangible assets	​ ​ ​ ​ ​ ​ ​ December 31, 2022 Reacquired franchise rights ​ $ 3,540,000 Accumulated amortization ​ (191,700) ​ ​ $ 3,348,300 ​
Schedule of future amortization to be expensed	​ ​ ​ ​ ​ Amortization expected to be expensed in ​ Amount 2023 ​ $ 354,000 2024 ​ 354,000 2025 ​ 354,000 2026 ​ 354,000 2027 ​ 354,000 Thereafter ​ 1,578,300 ​ ​ $ 3,348,300

Shareholders' Equity (Deficit_2

Shareholders' Equity (Deficit): (Tables)	12 Months Ended
	Dec. 31, 2022
Shareholders' Equity (Deficit):
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ Number of ​ Weighted Average ​ Contractual Life ​ ​ ​ ​ ​ Shares ​ Exercise Price ​ (years) ​ Intrinsic Value Outstanding, December 28, 2019 479,558 ​ $ 101.78 5.79 ​ $ 45,283,200 Granted 45,100 ​ ​ 163.87 ​ ​ ​ ​ ​ Exercised (108,170) ​ ​ 76.29 ​ ​ ​ ​ ​ Forfeited ​ (23,000) ​ ​ 148.16 ​ ​ ​ ​ ​ Outstanding, December 26, 2020 393,488 ​ ​ 113.19 5.61 ​ ​ 27,864,900 Granted 72,600 ​ ​ 226.96 ​ ​ ​ ​ ​ Exercised (105,617) ​ ​ 78.78 ​ ​ ​ ​ ​ Forfeited ​ (4,850) ​ ​ 158.48 ​ ​ ​ ​ ​ Outstanding, December 25, 2021 355,621 ​ ​ 146.03 ​ 6.32 ​ ​ 39,320,571 Granted 62,540 ​ ​ 217.03 ​ ​ ​ ​ ​ Exercised (50,032) ​ ​ 94.97 ​ ​ ​ ​ ​ Forfeited (6,501) ​ ​ 183.28 ​ ​ ​ ​ ​ Outstanding, December 31, 2022 361,628 ​ $ 164.70 ​ 6.40 ​ $ 26,688,183 Exercisable, December 31, 2022 217,079 ​ $ 134.28 ​ 4.80 ​ $ 22,253,550 ​
Schedule of weighted average assumptions used in estimation of fair value of options granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 ​ December 25, 2021 December 26, 2020 Risk free interest rate ​ 3.15 % ​ 1.13 % ​ 0.45 % Expected life (years) ​ 6 ​ ​ 6 ​ ​ 6 ​ Expected volatility ​ 27.58 % ​ 25.51 % ​ 25.03 % Dividend yield ​ 4.29 % ​ 3.13 % ​ 2.33 % Option fair value ​ $ 40.59 ​ $ 37.90 ​ $ 28.25 ​ ​

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt:
Schedule of required prepayments of the notes payable for each of the next five years and thereafter	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notes Payable ​ Term Loans 2023 $ 4,250,000 ​ $ — 2024 4,250,000 ​ — 2025 2,750,000 ​ — 2026 ​ 1,250,000 ​ ​ — 2027 937,500 ​ — Thereafter ​ 30,000,000 ​ ​ 30,000,000 Total $ 43,437,500 ​ $ 30,000,000

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Accrued Liabilities
Schedule of accrued liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Accrued compensation and benefits ​ $ 755,100 ​ $ 1,085,800 ​ Rent related liabilities ​ 542,100 ​ 497,600 ​ Accrued interest ​ 282,300 ​ 162,200 ​ Accrued purchases of goods and services ​ ​ 129,400 ​ ​ 175,100 ​ Other ​ 902,800 ​ 80,300 ​ ​ ​ $ 2,611,700 ​ $ 2,001,000 ​

Contract Liabilities_ (Tables)

Contract Liabilities: (Tables)	12 Months Ended
	Dec. 31, 2022
Contract Liabilities:
Schedule of activity of current and noncurrent deferred franchise revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Balance at beginning of period ​ $ 8,508,500 ​ $ 8,708,300 Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period ​ 1,951,800 ​ 1,583,700 Fees earned that were included in the balance at the beginning of the period ​ (1,842,200) ​ (1,783,500) Balance at end of period ​ $ 8,618,100 ​ $ 8,508,500 ​
Schedule of future estimated revenue to be recognized related to performance obligations	​ ​ ​ ​ ​ Contract Liabilities expected to be recognized in ​ Amount 2023 ​ $ 1,643,900 2024 ​ 1,446,100 2025 ​ 1,229,800 2026 ​ 1,025,300 2027 ​ 850,700 Thereafter ​ 2,422,300 ​ ​ $ 8,618,100

Operating Leases_ (Tables)

Operating Leases: (Tables)	12 Months Ended
	Dec. 31, 2022
Operating Leases:
Schedule of maturities of operating lease liabilities	​ ​ ​ ​ ​ Operating Lease Liabilities expected to be recognized in Amount 2023 ​ $ 763,300 2024 ​ 784,400 2025 ​ 806,000 2026 ​ 828,200 2027 ​ 851,100 Thereafter ​ 1,773,200 Total lease payments ​ ​ 5,806,200 Less imputed interest ​ ​ (996,100) Present value of lease liabilities ​ $ 4,810,100 ​
Schedule of supplemental cash flow information related to operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 December 25, 2021 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ Operating cash flow outflow from operating leases ​ $ 742,900 ​ $ 723,100 ​

Income Taxes_ (Tables)

Income Taxes: (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes:
Schedule of reconciliation of the expected federal income tax expense based on the federal statutory tax rate to the actual income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 December 25, 2021 December 26, 2020 Federal income tax expense at statutory rate (21%, 21%, 21%) ​ $ 10,664,500 ​ $ 10,472,100 ​ $ 8,088,600 ​ Change in valuation allowance ​ (6,600) ​ (1,914,400) ​ 54,000 ​ State and local income taxes, net of federal benefit ​ 1,515,900 ​ 1,546,400 ​ 1,368,500 ​ Permanent differences, including stock option expenses ​ (955,900) ​ (2,332,600) ​ (1,027,300) ​ Expiration of attributes ​ ​ — ​ ​ 2,057,000 ​ ​ — ​ Adjustment to uncertain tax positions ​ ​ 185,300 ​ ​ 163,400 ​ ​ 85,100 ​ Other, net ​ (44,600) ​ (44,500) ​ 125,200 ​ Actual income tax expense ​ $ 11,358,600 ​ $ 9,947,400 ​ $ 8,694,100 ​ ​
Schedule of components of the provision for income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2022 December 25, 2021 December 26, 2020 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 8,892,200 ​ $ 8,782,000 ​ $ 7,836,000 ​ State ​ 2,167,900 ​ 2,193,900 ​ 1,795,800 ​ Foreign ​ 586,200 ​ 333,500 ​ 286,000 ​ Current provision ​ 11,646,300 ​ 11,309,400 ​ 9,917,800 ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ (351,500) ​ (1,435,000) ​ (1,202,100) ​ State ​ 63,800 ​ 73,000 ​ (21,600) ​ Deferred provision ​ (287,700) ​ (1,362,000) ​ (1,223,700) ​ Total provision for income taxes ​ $ 11,358,600 ​ $ 9,947,400 ​ $ 8,694,100 ​ ​
Schedule of tax effects of temporary differences that give rise to the net deferred income tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Accounts receivable and lease reserves ​ $ 1,900 ​ $ 15,500 ​ Non-qualified stock option expense ​ 1,540,100 ​ 1,405,400 ​ Deferred revenue ​ 1,584,600 ​ 1,663,500 ​ Trademarks ​ 34,700 ​ 32,600 ​ Lease deposits ​ 72,700 ​ 270,500 ​ Impairment of note investments ​ 529,500 ​ 532,000 ​ Lease revenue and initial direct costs ​ ​ 63,400 ​ ​ — ​ Foreign tax credits ​ ​ 372,100 ​ ​ 376,200 ​ Valuation allowance ​ (901,600) ​ (908,200) ​ Other ​ 271,600 ​ 276,500 ​ Total deferred tax assets ​ 3,569,000 ​ 3,664,000 ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Lease revenue and initial direct costs ​ — ​ (362,200) ​ Depreciation and amortization ​ (28,600) ​ (49,100) ​ Total deferred tax liabilities ​ (28,600) ​ (411,300) ​ Total net deferred tax assets ​ $ 3,540,400 ​ $ 3,252,700 ​ ​
Summary of activity related to the Company's unrecognized tax benefits	​ ​ ​ ​ ​ ​ ​ Total Balance at December 26, 2020 ​ $ 510,100 ​ Increases related to current year tax positions ​ 190,000 ​ Expiration of the statute of limitations for the assessment of taxes ​ (22,900) ​ Balance at December 25, 2021 ​ ​ 677,200 ​ Increases related to current year tax positions ​ 266,800 ​ Subtractions for tax positions of prior years ​ (72,700) ​ Balance at December 31, 2022 ​ $ 871,300 ​ ​

Segment Reporting_ (Tables)

Segment Reporting: (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting:
Schedule of financial information by segment and reconciliation of segment contribution to operating income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ December 31, 2022 December 25, 2021 December 26, 2020 Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Franchising ​ $ 74,473,100 ​ $ 67,067,900 ​ $ 51,577,800 ​ Leasing ​ 6,937,700 ​ 11,148,300 ​ 14,484,000 ​ Total revenue ​ $ 81,410,800 ​ $ 78,216,200 ​ $ 66,061,800 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation to operating income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Franchising segment contribution ​ $ 49,007,900 ​ $ 44,832,100 ​ $ 31,880,200 ​ Leasing segment contribution ​ 4,604,900 ​ 6,504,100 ​ 8,331,300 ​ Total operating income ​ $ 53,612,800 ​ $ 51,336,200 ​ $ 40,211,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Franchising ​ $ 463,100 ​ $ 243,900 ​ $ 285,300 ​ Leasing ​ 140,000 ​ 186,700 ​ 199,400 ​ Total depreciation and amortization ​ $ 603,100 ​ $ 430,600 ​ $ 484,700 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ December 31, 2022 December 25, 2021 Identifiable assets: ​ ​ ​ ​ ​ ​ Franchising ​ $ 8,901,000 ​ $ 4,907,800 Leasing ​ 784,300 ​ 3,600,500 Unallocated ​ 20,770,400 ​ 18,390,700 Total ​ $ 30,455,700 ​ $ 26,899,000 ​

Organization and Business_ (Det

Organization and Business: (Details) - item	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Organization and Business:
Number of weeks in a fiscal year	53	52	52

Significant Accounting Polici_4

Significant Accounting Policies: Balance Sheet Disclosures (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Receivables
Allowance for Doubtful Accounts Receivable, Current	$ 800	$ 600
Restricted Cash
Restricted cash held in escrow	$ 65,000	30,000	$ 25,000
Allowance for Credit Losses
Delinquent period for charging-off against allowance for credit losses	121 days
Canadian operations
Cash Equivalents
Cash located in banks	$ 9,900	$ 70,400

Significant Accounting Polici_5

Significant Accounting Policies: PPE, Intangible Assets, Goodwill, Advertising, Stock-Based Comp (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Intangible Assets
Impairment expense	$ 0
Intangible assets	3,348,300
Goodwill
Goodwill impairment	0	$ 0	$ 0
Goodwill	607,500	607,500
Advertising
Advertising costs	$ 491,900	$ 348,200	$ 273,900
Accounting for Stock-Based Compensation
Stock options, vesting period	4 years
Computer and peripheral equipment | Minimum
Property, plant and equipment
Estimated useful lives	3 years
Computer and peripheral equipment | Maximum
Property, plant and equipment
Estimated useful lives	5 years
Furniture and equipment | Minimum
Property, plant and equipment
Estimated useful lives	5 years
Furniture and equipment | Maximum
Property, plant and equipment
Estimated useful lives	7 years

Significant Accounting Polici_6

Significant Accounting Policies: Marketing Fees and Software License Fees (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Revenue recognition
Deferred revenue	$ 8,618,100	$ 8,508,500	$ 8,708,300
Revenue		1,300,000	1,300,000
Franchise fees
Revenue recognition
Deferred revenue	6,700,000	6,600,000
Revenue	1,575,400	1,496,900	1,444,500
Marketing Fees
Revenue recognition
Revenue	1,500,000
Software License Fees
Revenue recognition
Deferred revenue	1,600,000	1,600,000
Revenue	$ 300,000	$ 300,000	$ 300,000

Significant Accounting Polici_7

Significant Accounting Policies: Commission Fees (Details) - Commission Fees - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Commission Fees
Capitalized contract costs	$ 500,000	$ 500,000
Expense	$ 100,800	$ 95,200	$ 102,600

Significant Accounting Polici_8

Significant Accounting Policies: Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Earnings Per Share
Denominator for basic EPS - weighted average common shares	3,487,732	3,671,980	3,719,485
Dilutive shares associated with option plans	104,724	138,500	143,779
Denominator for diluted EPS - weighted average common shares and dilutive potential common shares	3,592,456	3,810,480	3,863,264
Options excluded from EPS calculation - anti-dilutive (in shares)	21,153	20,294	14,822

Investment in Leasing Operati_3

Investment in Leasing Operations: Summary of Leasing Operations (Details) - USD ($)	Dec. 31, 2022	Dec. 25, 2021	Nov. 30, 2020
Investment in Leasing Operations:
Sale of small-ticket portfolio			$ 700,000
Direct financing and sales-type leases:
Minimum lease payments receivable	$ 294,100	$ 3,387,500
Estimated unguaranteed residual value of equipment	461,700	1,316,100
Unearned lease income net of initial direct costs deferred	(103,800)	(418,100)
Security deposits	(303,300)	(1,122,500)
Total investment in direct financing and sales-type leases	348,700	3,163,000
Allowance for credit losses	(7,100)	(63,600)
Net investment in direct financing and sales-type leases	341,600	3,099,400
Operating leases:
Operating lease assets	716,100	626,200
Less accumulated depreciation and amortization	(707,400)	(605,700)
Net investment in operating leases	8,700	20,500
Total net investment in leasing operations	350,300	3,119,900
Net investment in leases - current	344,900	2,890,600
Net investment in leases - long-term	$ 5,400	$ 229,300

Investment in Leasing Operati_4

Investment in Leasing Operations: Risk Concentration (Details) - customer	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Total assets
Investment in leasing operations
Number of customers	0	0

Investment in Leasing Operati_5

Investment in Leasing Operations: Minimum Lease Payments Receivable (Details) - USD ($)	Dec. 31, 2022	Dec. 25, 2021
Direct Financing and Sales-Type Leases, Minimum Lease Payments Receivable
2023	$ 290,600
2024	3,500
Total	294,100	$ 3,387,500
Direct Financing and Sales-Type Leases, Income Amortization
2023	103,700
2024	100
Total	$ 103,800

Investment in Leasing Operati_6

Investment in Leasing Operations: Credit Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Activity in the allowance for credit losses for leasing operations
Balance at beginning of period	$ 63,600	$ 270,200	$ 580,600
Provisions charged to expense	(57,900)	(206,600)	(79,300)
Recoveries	1,400		(11,800)
Deductions for amounts written-off			(219,300)
Balance at end of period	7,100	63,600	$ 270,200
Investment In Leases
Total investment in direct financing and sales-type leases	348,700	3,163,000
Allowance for Credit Losses
Total	7,100	63,600
Investment in leases
Investment In Leases
Collectively evaluated for loss potential	348,700	3,163,000
Total investment in direct financing and sales-type leases	348,700	3,163,000
Allowance for Credit Losses
Collectively evaluated for loss potential	7,100	63,600
Total	$ 7,100	$ 63,600

Investment in Leasing Operati_7

Investment in Leasing Operations: Investment Aging (Details) - USD ($)	Dec. 31, 2022	Dec. 25, 2021
Investment in Leasing Operations:
0-60 Days Delinquent and Accruing	$ 348,700	$ 3,163,000
Total investment in direct financing and sales-type leases	$ 348,700	$ 3,163,000

Investment in Leasing Operati_8

Investment in Leasing Operations: Leasing Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Leasing income
Interest income on direct financing and sales-type leases	$ 760,500	$ 1,755,200	$ 3,651,700
Selling profit (loss) at commencement of sales-type leases	1,326,900	1,829,800	2,117,500
Operating lease income	2,243,300	2,017,300	2,346,500
Income on sales of equipment under lease	1,798,000	4,799,400	5,246,000
Other	809,000	746,600	1,122,300
Leasing income	$ 6,937,700	$ 11,148,300	$ 14,484,000

Receivables_ (Details)

Receivables: (Details) - USD ($)	Dec. 31, 2022	Dec. 25, 2021
Current receivables
Trade	$ 145,000	$ 29,300
Royalty	1,216,600	1,013,800
Other	77,000	60,300
Total current receivables	$ 1,438,600	$ 1,103,400

Intangible Assets_ Franchise ri

Intangible Assets: Franchise rights (Details)	1 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) store	Dec. 31, 2022 USD ($)
Intangible Assets
Termination of agreement, number of stores	11
Termination of agreement, consideration paid by Winmark | $	$ 3,540,000
Number of stores in which Winmark reacquired the franchise rights	11
Number of stores that signed franchise agreements	11
Amortization of intangible assets | $		$ 191,700
Franchise Rights
Intangible Assets
Useful life	10 years

Intangible Assets_ Net of Amort

Intangible Assets: Net of Amortization (Details)	Dec. 31, 2022 USD ($)
Intangible Assets
Reacquired franchise rights	$ 3,540,000
Accumulated amortization	(191,700)
Total	$ 3,348,300

Intangible Assets_ Amortization

Intangible Assets: Amortization (Details)	Dec. 31, 2022 USD ($)
Future amortization to be expensed:
2023	$ 354,000
2024	354,000
2025	354,000
2026	354,000
2027	354,000
Thereafter	1,578,300
Total	$ 3,348,300

Shareholders' Equity (Deficit_3

Shareholders' Equity (Deficit): Dividends and Repurchase of Common Stock (Details) - USD ($)		1 Months Ended	12 Months Ended
	Jan. 16, 2020	Dec. 31, 2019	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Repurchase of Common Stock
Aggregate purchase price of shares repurchased			$ 49,119,800	$ 44,217,500	$ 48,987,500
Dividends
Cash dividends declared and paid (in dollars per share)			$ 2.55	$ 1.60	$ 0.80
Aggregate quarterly cash dividends declared and paid, excluding special dividend			$ 8,900,000	$ 5,900,000	$ 3,000,000
Special cash dividend approved by Board of Directors (in dollars per share)			$ 3	$ 7.50	$ 3
Total special dividend in cash			$ 10,400,000	$ 27,300,000	$ 11,300,000
2020 Tender Offer
Repurchase of Common Stock
Shares authorized for repurchase per tender offer		300,000
Price per share of common stock per tender offer		$ 163
Number of shares repurchased	300,000
Purchase price of shares per tender offer	$ 49,000,000
Common Stock Repurchase Program
Repurchase of Common Stock
Number of shares repurchased			226,165	225,839
Aggregate purchase price of shares repurchased			$ 49,100,000	$ 44,200,000
Number of additional shares that can be repurchased			78,600

Shareholders' Equity (Deficit_4

Shareholders' Equity (Deficit): Stock Options (Details) - shares	12 Months Ended
	Dec. 31, 2022	Apr. 29, 2020	Feb. 24, 2020	Feb. 20, 2011
2020 Plan
Stock Option Plans
Number of shares authorized for issuance		100,000
2020 Plan | Stock options | Minimum
Stock Option Plans
Exercise price of stock options as a percentage of fair value on the date of grant	100%
Threshold voting rights above which the option exercise price may not be less than 110% of the fair market value (as a percent)	10%
Exercise price of stock options as a percentage of fair value on the date of grant for an individual who owns more than 10% of voting rights	110%
2020 Plan | Stock options | Maximum
Stock Option Plans
Term of the option	10 years
2001 Plan
Stock Option Plans
Number of shares authorized for issuance				750,000
2010 Plan
Stock Option Plans
Number of shares authorized for issuance			700,000
Number of shares authorized and unissued under the plan		125,465
Nonemployee Directors Plan
Stock Option Plans
Number of shares authorized for issuance			350,000
Number of shares authorized and unissued under the plan		24,500

Shareholders' Equity (Deficit_5

Shareholders' Equity (Deficit): Stock Options Activity (Details) - Stock options - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Number of Shares
Outstanding at the beginning of the period (in shares)	355,621	393,488	479,558
Granted (in shares)	62,540	72,600	45,100
Exercised (in shares)	(50,032)	(105,617)	(108,170)
Forfeited (in shares)	(6,501)	(4,850)	(23,000)
Outstanding at the end of the period (in shares)	361,628	355,621	393,488	479,558
Exercisable at the end of the period (in shares)	217,079
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 146.03	$ 113.19	$ 101.78
Granted (in dollars per share)	217.03	226.96	163.87
Exercised (in dollars per share)	94.97	78.78	76.29
Forfeited (in dollars per share)	183.28	158.48	148.16
Outstanding at the end of the period (in dollars per share)	164.70	$ 146.03	$ 113.19	$ 101.78
Exercisable at the end of the period (in dollars per share)	$ 134.28
Weighted Average Remaining Contractual Life (years)
Outstanding	6 years 4 months 24 days	6 years 3 months 25 days	5 years 7 months 9 days	5 years 9 months 14 days
Exercisable at the end of the period	4 years 9 months 18 days
Intrinsic Value
Outstanding at the beginning of the period	$ 39,320,571	$ 27,864,900	$ 45,283,200
Outstanding at the end of the period	26,688,183	$ 39,320,571	$ 27,864,900	$ 45,283,200
Exercisable at the end of the period	$ 22,253,550
Weighted average assumptions and results used in estimation of fair value of options granted
Risk free interest rate (as a percent)	3.15%	1.13%	0.45%
Expected life (years)	6 years	6 years	6 years
Expected volatility (as a percent)	27.58%	25.51%	25.03%
Dividend yield (as a percent)	4.29%	3.13%	2.33%
Option fair value (in dollars per share)	$ 40.59	$ 37.90	$ 28.25

Shareholders' Equity (Deficit_6

Shareholders' Equity (Deficit): Additional Information (Details) - Stock options - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Additional disclosures
Total intrinsic value of options exercised	$ 6,600,000	$ 16,200,000	$ 8,400,000
Total fair value of shares vested	10,900,000	9,000,000	9,100,000
Compensation expense	1,652,400	$ 1,435,500	$ 1,315,200
Total unrecognized compensation expense	$ 4,600,000
Weighted average period for recognition of unrecognized compensation expense	2 years 9 months 18 days

Debt_ Line of Credit (Details)

Debt: Line of Credit (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) item loan	Dec. 25, 2021 USD ($)	Dec. 26, 2020 USD ($)
Delayed Draw Term Facility
Line of Credit
Borrowings outstanding	$ 30
Maximum borrowing capacity	$ 30
Maximum number of loans available over a period of 18 months | loan	5
Time period over which the Company may draw loans	18 months
Minimum principal amount of each draw	$ 3
Integral multiple	$ 1
Delayed Draw Term Facility | Minimum
Line of Credit
Interest rate (as a percent)	4.60%
Delayed Draw Term Facility | Maximum
Line of Credit
Interest rate (as a percent)	4.75%
Revolving Loans
Line of Credit
Borrowings outstanding	$ 0
Maximum borrowing capacity	20	$ 25	$ 40
Maximum amount of additional term notes available for issuance	30	$ 25
Line of credit available for additional borrowings	$ 20
Number of interest rate options | item	2
Non-utilization fees (as a percent)	0.25%
Revolving Loans | Base Rate
Line of Credit
Variable rate basis	Base Rate
Applicable margin (as a percent)	0%
Revolving Loans | LIBOR
Line of Credit
Variable rate basis	SOFR
Applicable margin (as a percent)	1.75%
Revolving Loans | One month LIBOR
Line of Credit
Variable rate basis	one month LIBOR

Debt_ Notes Payable (Details)

Debt: Notes Payable (Details) - USD ($)	1 Months Ended	12 Months Ended
	Apr. 30, 2022	Dec. 31, 2022	Sep. 30, 2021	Aug. 31, 2017	May 31, 2015
Note Agreement | Notes Payable.
Notes Payable
Amount of additional senior secured notes available for issuance		$ 30,000,000
Principal amount outstanding		43,400,000
Minimum prepayment		1,000,000
Note Agreement | Series A Notes
Notes Payable
Principal amount outstanding		$ 7,500,000
Note payable, face amount					$ 25,000,000
Debt term		10 years
Interest rate (as a percent)		5.50%
Quarterly principal payment, first five years		$ 500,000
Quarterly principal payment, thereafter		750,000
Note Agreement | Series B Notes
Notes Payable
Principal amount outstanding		$ 5,900,000
Note payable, face amount				$ 12,500,000
Debt term		10 years
Interest rate (as a percent)		5.10%
Quarterly principal payment		$ 312,500
Note Agreement | Series C Notes
Notes Payable
Principal amount outstanding		$ 30,000,000
Note payable, face amount			$ 30,000,000
Debt term		7 years
Interest rate (as a percent)		3.18%
Shelf Agreement | Senior Notes
Notes Payable
Principal amount outstanding		$ 0
Shelf Agreement term	3 years
Maximum amount of Shelf Notes available for issuance.	$ 100,000,000
Minimum prepayment	$ 1,000,000
Shelf Agreement | Senior Notes | Maximum
Notes Payable
Debt term	12 years 6 months

Debt_ Maturities (Details)

Debt: Maturities (Details)	Dec. 31, 2022 USD ($)
Notes Payable.
Required prepayments of the notes payable and term loans for each of the next five years and thereafter
2023	$ 4,250,000
2024	4,250,000
2025	2,750,000
2026	1,250,000
2027	937,500
Thereafter	30,000,000
Total	43,437,500
Delayed Draw Term Facility
Required prepayments of the notes payable and term loans for each of the next five years and thereafter
Thereafter	30,000,000
Total	$ 30,000,000

Accrued Liabilities_ (Details)

Accrued Liabilities: (Details) - USD ($)	Dec. 31, 2022	Dec. 25, 2021
Accrued Liabilities
Accrued compensation and benefits	$ 755,100	$ 1,085,800
Rent related liabilities	542,100	497,600
Accrued interest	282,300	162,200
Accrued purchases of goods and services	129,400	175,100
Other	902,800	80,300
Accrued liabilities	$ 2,611,700	$ 2,001,000

Contract Liabilities_ Activity

Contract Liabilities: Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Activity of the current and noncurrent deferred franchise revenue
Balance at beginning of period	$ 8,508,500	$ 8,708,300
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period	1,951,800	1,583,700
Fees earned that were included in the balance at the beginning of the period	(1,842,200)	(1,783,500)
Balance at end of period	$ 8,618,100	$ 8,508,500

Contract Liabilities_ Performan

Contract Liabilities: Performance Obligations (Details)	Dec. 31, 2022 USD ($)
Future estimated revenue to be recognized related to performance obligations
Revenue, remaining performance obligation	$ 8,618,100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Future estimated revenue to be recognized related to performance obligations
Duration of expected recognition period for remaining performance obligation	1 year
Revenue, remaining performance obligation	$ 1,643,900
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-31
Future estimated revenue to be recognized related to performance obligations
Duration of expected recognition period for remaining performance obligation	1 year
Revenue, remaining performance obligation	$ 1,446,100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-29
Future estimated revenue to be recognized related to performance obligations
Duration of expected recognition period for remaining performance obligation	1 year
Revenue, remaining performance obligation	$ 1,229,800
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-28
Future estimated revenue to be recognized related to performance obligations
Duration of expected recognition period for remaining performance obligation	1 year
Revenue, remaining performance obligation	$ 1,025,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-12-27
Future estimated revenue to be recognized related to performance obligations
Duration of expected recognition period for remaining performance obligation	1 year
Revenue, remaining performance obligation	$ 850,700
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-12-26
Future estimated revenue to be recognized related to performance obligations
Duration of expected recognition period for remaining performance obligation
Revenue, remaining performance obligation	$ 2,422,300

Operating Leases_ Summary (Deta

Operating Leases: Summary (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 25, 2021 USD ($)	Dec. 26, 2020 USD ($)
Operating Leases
Remaining lease term	7 years
Discount rate (as a percent)	5.50%
Rent expense | $	$ 1,207,200	$ 1,178,400	$ 1,195,000
Corporate headquarters, Minnesota
Operating Leases
Lease renewal option	true
Number of lease extension periods | item	2
Lease renewal term	5 years

Operating Leases_ Maturities an

Operating Leases: Maturities and other (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Maturities of operating lease liabilities:
2023	$ 763,300
2024	784,400
2025	806,000
2026	828,200
2026	851,100
Thereafter	1,773,200
Total	5,806,200
Less imputed interest	(996,100)
Present value of lease liabilities	4,810,100
Operating lease liability
Operating lease liability, current	$ 500,000
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current
Other disclosures
Tenant allowance recorded during the year as a reduction to the operating lease right of use asset	$ 2,100,000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow outflow from operating leases	$ 742,900	$ 723,100

Income Taxes_ Reconciliation, C

Income Taxes: Reconciliation, Components and Deferred Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Income Taxes:
Federal statutory tax rate (as a percent)	21%	21%	21%
Reconciliation of the expected federal income tax expense based on the federal statutory tax rate to the actual income tax expense
Federal income tax expense at statutory rate (21%, 21%, 35%)	$ 10,664,500	$ 10,472,100	$ 8,088,600
Change in valuation allowance	(6,600)	(1,914,400)	54,000
State and local income taxes, net of federal benefit	1,515,900	1,546,400	1,368,500
Permanent differences, including stock option expenses	(955,900)	(2,332,600)	(1,027,300)
Expiration of attributes		2,057,000
Adjustment to uncertain tax positions	185,300	163,400	85,100
Other, net	(44,600)	(44,500)	125,200
Total provision for income taxes	11,358,600	9,947,400	8,694,100
Current provision for income taxes:
Federal	8,892,200	8,782,000	7,836,000
State	2,167,900	2,193,900	1,795,800
Foreign	586,200	333,500	286,000
Current provision	11,646,300	11,309,400	9,917,800
Deferred provision for income taxes:
Federal	(351,500)	(1,435,000)	(1,202,100)
State	63,800	73,000	(21,600)
Deferred provision	(287,700)	(1,362,000)	(1,223,700)
Total provision for income taxes	11,358,600	9,947,400	$ 8,694,100
Deferred tax assets:
Accounts receivable and lease reserves	1,900	15,500
Non-qualified stock option expense	1,540,100	1,405,400
Deferred revenue	1,584,600	1,663,500
Trademarks	34,700	32,600
Lease deposits	72,700	270,500
Impairment of note investments	529,500	532,000
Lease revenue and initial direct costs	63,400
Foreign tax credits	372,100	376,200
Valuation allowance	(901,600)	(908,200)
Other	271,600	276,500
Total deferred tax assets	3,569,000	3,664,000
Deferred tax liabilities:
Lease revenue and initial direct costs		(362,200)
Depreciation and amortization	(28,600)	(49,100)
Total deferred tax liabilities	(28,600)	(411,300)
Total net deferred tax liabilities	$ 3,540,400	$ 3,252,700

Income Taxes_ Other (Details)

Income Taxes: Other (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Deferred tax assets, valuation allowance
Valuation allowance	$ 901,600	$ 908,200
Unrecognized Tax Benefits
Unrecognized tax benefits, including interest and penalties	1,050,300	821,700
Interest and penalties accrued related to unrecognized tax benefit	179,000	144,500
Activity related to the company's unrecognized tax benefits
Balance at the beginning of the period	677,200	510,100
Increases related to current year tax positions	266,800	190,000
Subtractions for tax positions of prior years	(72,700)
Expiration of the statute of limitations for the assessment of taxes		(22,900)
Balance at the end of the period	$ 871,300	$ 677,200
Period over which various statutes of limitations are expected to expire	12 months

Commitments and Contingencies_

Commitments and Contingencies: (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Employee Benefit Plan
Service period for vesting of employer contribution	5 years
Company contributions	$ 397,700	$ 348,200	$ 324,000

Segment Reporting_ (Details)

Segment Reporting: (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 25, 2021 USD ($)	Dec. 26, 2020 USD ($)
Segment Reporting
Number of reportable business segments | item	2
Total revenue	$ 81,410,800	$ 78,216,200	$ 66,061,800
Total operating income	53,612,800	51,336,200	40,211,500
Total depreciation and amortization	603,100	430,600	484,700
Total identifiable assets	30,455,700	26,899,000
Franchising | Canadian operations
Segment Reporting
Total revenue	6,400,000	4,900,000	4,000,000
Operating | Franchising
Segment Reporting
Total revenue	74,473,100	67,067,900	51,577,800
Total operating income	49,007,900	44,832,100	31,880,200
Total depreciation and amortization	463,100	243,900	285,300
Total identifiable assets	8,901,000	4,907,800
Operating | Leasing
Segment Reporting
Total revenue	6,937,700	11,148,300	14,484,000
Total operating income	4,604,900	6,504,100	8,331,300
Total depreciation and amortization	140,000	186,700	$ 199,400
Total identifiable assets	784,300	3,600,500
Unallocated
Segment Reporting
Total identifiable assets	$ 20,770,400	$ 18,390,700