Winmark (WINA) 10-K26 Feb 252024 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 28, 2024	Feb. 24, 2025	Jun. 29, 2024
Document and Entity Information
Entity Registrant Name	WINMARK CORPORATION
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 28, 2024
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	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 691,193,237
Entity Common Stock, Shares Outstanding		3,539,954
Current Fiscal Year End Date	--12-28
Entity Central Index Key	0000908315
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Auditor Name	GRANT THORNTON LLP
Auditor Firm ID	248
Auditor Location	Minneapolis, Minnesota

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)	Dec. 28, 2024	Dec. 30, 2023
Current Assets:
Cash and cash equivalents	$ 12,189,800	$ 13,361,500
Restricted cash	140,000	25,000
Receivables, less allowance for credit losses of $500 and $600	1,336,400	1,475,300
Net investment in leases		75,100
Income tax receivable	96,400	31,400
Inventories	397,600	386,100
Prepaid expenses	1,205,400	1,392,100
Total current assets	15,365,600	16,746,500
Property and equipment:
Furniture and equipment	2,679,400	3,602,900
Building and building improvements	2,952,100	2,952,100
Less - accumulated depreciation and amortization	(4,212,100)	(4,885,200)
Property and equipment, net	1,419,400	1,669,800
Operating lease right of use asset	2,108,700	2,425,900
Intangible assets, net	2,640,300	2,994,300
Goodwill	607,500	607,500
Other assets	491,200	471,300
Deferred income taxes	4,211,800	4,052,400
Total assets	26,844,500	28,967,700
Current Liabilities:
Notes payable, net of unamortized debt issuance costs of $- and $32,100		4,217,900
Accounts payable	1,562,000	1,719,400
Accrued liabilities	1,866,200	2,858,200
Deferred revenue	1,659,700	1,666,100
Total current liabilities	5,087,900	10,461,600
Long-term Liabilities:
Line of credit/Term loan	30,000,000	30,000,000
Notes payable, net of unamortized debt issuance costs of $57,200 and $88,700	29,942,800	34,848,800
Deferred revenue	8,027,600	7,657,500
Operating lease liabilities	3,092,800	3,715,800
Other liabilities	1,739,500	1,440,100
Total long-term liabilities	72,802,700	77,662,200
Shareholders' Equity (Deficit):
Common stock, no par value, 10,000,000 shares authorized, 3,539,744 and 3,496,977 shares issued and outstanding	14,790,500	7,768,800
Retained earnings (accumulated deficit)	(65,836,600)	(66,924,900)
Total shareholders' equity (deficit)	(51,046,100)	(59,156,100)
Total liabilities and shareholders' equity (deficit)	$ 26,844,500	$ 28,967,700

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 28, 2024	Dec. 30, 2023
CONSOLIDATED CONDENSED BALANCE SHEETS
Receivables, allowance for doubtful accounts	$ 500	$ 600
Unamortized debt issuance costs - Current		32,100
Unamortized debt issuance costs - Noncurrent	$ 57,200	$ 88,700
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	3,539,744	3,496,977
Common stock, shares outstanding	3,539,744	3,496,977

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Revenue:
Leasing income	$ 1,811,800	$ 4,766,200	$ 6,937,700
Total revenue	81,289,100	83,243,500	81,410,800
Cost of merchandise sold	3,379,200	4,461,500	3,712,800
Leasing expense	36,600	398,300	984,700
Provisions for credit losses	(1,500)	(5,600)	(57,900)
Selling, general and administrative expenses	24,944,200	25,108,700	23,158,400
Income from operations	52,930,600	53,280,600	53,612,800
Interest expense	(2,856,900)	(3,091,000)	(2,914,900)
Interest and other income	1,150,300	1,171,700	85,600
Income before income taxes	51,224,000	51,361,300	50,783,500
Provision for income taxes	(11,269,800)	(11,183,200)	(11,358,600)
Net income	$ 39,954,200	$ 40,178,100	$ 39,424,900
Earnings per share - basic (in dollars per share)	$ 11.36	$ 11.55	$ 11.3
Earnings per share - diluted (in dollars per share)	$ 10.89	$ 11.04	$ 10.97
Weighted average shares outstanding - basic	3,516,122	3,479,936	3,487,732
Weighted average shares outstanding - diluted	3,667,479	3,640,524	3,592,456
Royalties
Revenue:
Revenue	$ 72,198,500	$ 70,230,700	$ 67,148,100
Merchandise sales
Revenue:
Revenue	3,601,300	4,761,100	3,921,600
Franchise fees
Revenue:
Revenue	1,545,600	1,512,000	1,575,400
Other
Revenue:
Revenue	$ 2,131,900	$ 1,973,500	$ 1,828,000

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock	Retained Earnings (Accumulated Deficit)	Total
BALANCE at Dec. 25, 2021		$ (39,083,400)	$ (39,083,400)
BALANCE (in shares) at Dec. 25, 2021	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
Shareholders' Equity (Deficit)
Stock options exercised	$ 4,009,700		4,009,700
Stock options exercised (in shares)	37,304
Compensation expense relating to stock options	$ 1,952,400		1,952,400
Cash dividends		(43,664,200)	(43,664,200)
Comprehensive income (Net income)		40,178,100	40,178,100
BALANCE at Dec. 30, 2023	$ 7,768,800	(66,924,900)	$ (59,156,100)
BALANCE (in shares) at Dec. 30, 2023	3,496,977		3,496,977
Shareholders' Equity (Deficit)
Stock options exercised	$ 5,033,700		$ 5,033,700
Stock options exercised (in shares)	42,767
Compensation expense relating to stock options	$ 1,988,000		1,988,000
Cash dividends		(38,865,900)	(38,865,900)
Comprehensive income (Net income)		39,954,200	39,954,200
BALANCE at Dec. 28, 2024	$ 14,790,500	$ (65,836,600)	$ (51,046,100)
BALANCE (in shares) at Dec. 28, 2024	3,539,744		3,539,744

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
OPERATING ACTIVITIES:
Net Income	$ 39,954,200	$ 40,178,100	$ 39,424,900
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment	445,300	418,700	411,400
Amortization of intangible assets	354,000	354,000	191,700
Provisions for credit losses	(1,500)	(5,600)	(57,900)
Compensation expense related to stock options	1,988,000	1,952,400	1,652,400
Deferred income taxes	(159,400)	(512,000)	(287,700)
Gain from disposal of property and equipment			(9,400)
Operating lease right of use asset amortization	317,100	290,100	266,000
Tax benefits on exercised stock options	1,307,700	1,138,500	858,300
Change in operating assets and liabilities:
Receivables	138,900	(36,700)	(335,200)
Principal collections on lease receivables	104,700	556,000	3,646,700
Income tax receivable/payable	(1,372,800)	(611,200)	(749,500)
Inventories	(11,500)	384,500	(445,400)
Prepaid expenses	186,700	(81,700)	(301,800)
Other assets	(19,900)	(41,600)	(11,400)
Accounts payable	(157,400)	(402,600)	23,000
Accrued and other liabilities	(1,251,900)	(16,900)	222,800
Rents received in advance and security deposits	(28,000)	(275,200)	(819,200)
Deferred revenue	363,700	705,500	109,600
Net cash provided by operating activities	42,157,900	43,994,300	43,789,300
INVESTING ACTIVITIES:
Proceeds from sales of property and equipment			9,400
Purchase of property and equipment	(194,900)	(383,900)	(139,100)
Reacquired franchise rights			(3,540,000)
Net cash used for investing activities	(194,900)	(383,900)	(3,669,700)
FINANCING ACTIVITIES:
Proceeds from borrowings on line of credit/term loan			33,700,000
Payments on line of credit/term loan			(3,700,000)
Payments on notes payable	(9,187,500)	(4,250,000)	(4,250,000)
Repurchases of common stock			(49,119,800)
Proceeds from exercises of stock options	5,033,700	4,009,700	4,751,700
Dividends paid	(38,865,900)	(43,664,200)	(19,257,900)
Net cash used for financing activities	(43,019,700)	(43,904,500)	(37,876,000)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(1,056,700)	(294,100)	2,243,600
Cash, cash equivalents and restricted cash, beginning of period	13,386,500	13,680,600	11,437,000
Cash, cash equivalents and restricted cash, end of period	$ 12,329,800	$ 13,386,500	$ 13,680,600

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - Supplemental Disclosures - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	$ 2,851,000	$ 3,049,400	$ 2,722,500
Cash paid for income taxes	11,168,700	10,874,300	11,308,800
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	12,189,800	13,361,500	13,615,600
Restricted cash	140,000	25,000	65,000
Total cash, cash equivalents and restricted cash	$ 12,329,800	$ 13,386,500	$ 13,680,600

Organization and Business_

Organization and Business:	12 Months Ended
Organization and Business:	Dec. 28, 2024
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. 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
Significant Accounting Policies:	Dec. 28, 2024
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 28, 2024 and December 30, 2023, 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 credit losses on trade receivables. The allowance for credit losses was at December 28, 2024 and December 30, 2023 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 credit losses. 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. 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. 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, all of which is finished goods merchandise held for resale. 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 years ended 2024, 2023, and 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 2024, 2023 and 2022. 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. Royalties The Company collects royalties from each retail franchise based upon a percentage of retail sales. The Company recognizes royalties at the time the underlying sales occur. 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 $0.6 million and $0.6 million are outstanding at December 28, 2024 and December 30, 2023, 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 28, 2024, December 30, 2023 and December 31, 2022, the Company recognized $114,700, $109,700 and $100,800 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 28, 2024 December 30, 2023 December 31, 2022 Denominator for basic EPS — weighted average common shares 3,516,122 3,479,936 3,487,732 Dilutive shares associated with option plans 151,357 160,588 104,724 Denominator for diluted EPS — weighted average common shares and dilutive potential common shares 3,667,479 3,640,524 3,592,456 Options excluded from EPS calculation — anti-dilutive 7,578 2,913 21,153 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 Disaggregation Income Statement Expenses Improvements to Income Tax Disclosures – In December 2023, the FASB issued guidance that expands income tax disclosures for public entities, including requiring enhanced disclosures related to the rate reconciliation and income taxes paid information. The guidance is effective for annual disclosures for fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance should be applied on a prospective basis, with retrospective application to all prior periods presented in the financial statements permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements and disclosures. Recently Adopted Accounting Pronouncements Segment Reporting requirements or change how a public entity identifies its operating segments, aggregates those operating segments, or determines its reportable segments. The guidance is effective for fiscal years beginning after December 15, 2023, and subsequent interim periods with early adoption permitted, and requires retrospective application to all prior periods presented in the financial statements. The Company adopted this ASU for the December 28, 2024 reporting period, with required disclosures and explanations included in Footnote 13, Segment Reporting. 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
Investment in Leasing Operations:	Dec. 28, 2024
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. Investment in leasing operations consists of the following: December 28, 2024 December 30, 2023 Direct financing and sales-type leases: Minimum lease payments receivable $ — $ 77,100 Estimated unguaranteed residual value of equipment — 17,700 Unearned lease income, net of initial direct costs deferred — (6,700) Security deposits — (28,100) Total investment in direct financing and sales-type leases — 60,000 Allowance for credit losses — (1,500) Net investment in direct financing and sales-type leases — 58,500 Operating leases: Operating lease assets 543,800 876,500 Less accumulated depreciation and amortization (543,800) (859,900) Net investment in operating leases — 16,600 Total net investment in leasing operations $ — $ 75,100 As of December 30, 2023, the $75,100 total net investment in leases was all classified as current. As of December 28, 2024 and December 30, 2023, no customers had leased assets totaling more than 10% of the Company’s total assets. 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 Company experienced direct financing and sales-type leases in the Company’s lease portfolio were past due, and all were on accrual status. Leasing income as presented on the Consolidated Statements of Operations consists of the following: Year Ended Year Ended Year Ended December 28, 2024 December 30, 2023 December 31, 2022 Interest income on direct financing and sales-type leases $ 6,700 $ 246,200 $ 760,500 Selling profit (loss) at commencement of sales-type leases — 94,900 1,326,900 Operating lease income 1,023,400 2,999,400 2,243,300 Income on sales of equipment under lease 391,800 834,500 1,798,000 Other 389,900 591,200 809,000 Leasing income $ 1,811,800 $ 4,766,200 $ 6,937,700

Receivables_

Receivables:	12 Months Ended
Receivables:	Dec. 28, 2024
Receivables:
Receivables:	4. Receivables: The Company’s current receivables consisted of the following: December 28, 2024 December 30, 2023 Trade $ 71,100 $ 189,600 Royalty 1,219,700 1,110,500 Other 45,600 175,200 $ 1,336,400 $ 1,475,300 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
Intangible Assets:	Dec. 28, 2024
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 28, 2024 December 30, 2023 Reacquired franchise rights $ 3,540,000 $ 3,540,000 Accumulated amortization (899,700) (545,700) $ 2,640,300 $ 2,994,300 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 28, 2024. Amortization expected to be expensed in Amount 2025 $ 354,000 2026 354,000 2027 354,000 2028 354,000 2029 354,000 Thereafter 870,300 $ 2,640,300

Shareholders' Equity (Deficit)_

Shareholders' Equity (Deficit):	12 Months Ended
Shareholders' Equity (Deficit):	Dec. 28, 2024
Shareholders' Equity (Deficit):
Shareholders' Equity (Deficit):	6. Shareholders’ Equity (Deficit): Dividends In 2024, the Company declared and paid quarterly cash dividends totaling $3.50 per share ($12.3 million) and a $7.50 per share special cash dividend. The special dividend paid in 2024 totaled $26.5 million and was paid by cash on hand. In 2023, the Company declared and paid quarterly cash dividends totaling $3.10 per share ($10.8 million) and a $9.40 per share special cash dividend. The special dividend paid in 2023 totaled $32.9 million and was paid by cash on hand. 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 special dividend paid in 2022 totaled $10.4 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. Under the Board of Directors’ authorization, as of December 28, 2024 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 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 Grants under the 2020 Plan are (as they were under the 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 2010 Plan, 2020 Plan and Nonemployee Directors Plan (collectively, the “Option Plans”) as of December 28, 2024 was as follows: Weighted Average Remaining Number of Weighted Average Contractual Life Shares Exercise Price (years) Intrinsic Value Outstanding, December 25, 2021 355,621 $ 146.03 Granted 62,540 217.03 Exercised (50,032) 94.97 Forfeited (6,501) 183.28 Outstanding, December 31, 2022 361,628 164.70 Granted 21,320 328.68 Exercised (37,304) 107.49 Forfeited (3,752) 204.26 Outstanding, December 30, 2023 341,892 180.73 Granted 25,300 377.63 Exercised (42,767) 117.70 Forfeited (4,581) 239.61 Outstanding, December 28, 2024 319,844 $ 203.89 5.72 $ 61,841,500 Exercisable, December 28, 2024 233,931 $ 173.68 4.82 $ 52,073,200 The fair value of options granted under the Option Plans during 2024, 2023 and 2022 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 28, 2024 December 30, 2023 December 31, 2022 Risk free interest rate 4.34 % 3.88 % 3.15 % Expected life (years) 6 6 6 Expected volatility 29.13 % 28.10 % 27.58 % Dividend yield 2.84 % 2.94 % 4.29 % Option fair value $ 98.64 $ 79.88 $ 40.59 The total intrinsic value of options exercised during 2024, 2023 and 2022 was $11.3 million, $9.2 million and $6.6 million, respectively. The total fair value of shares vested during 2024, 2023 and 2022 was All unexercised options at December 28, 2024 have an exercise price equal to the fair market value on the date of the grant. Compensation expense of $1,988,000 , $1,952,400 and $1,652,400 relating to the vested portion of the fair value of stock options granted was expensed to “Selling, General and Administrative Expenses” in 2024, 2023 and 2022, respectively. As of December 28, 2024, the Company had $6.6 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 2.2 years.

Debt_

Debt:	12 Months Ended
Debt:	Dec. 28, 2024
Debt:
Debt:	7. Debt: Line of Credit/Term Loan During 2022, the Company’s Line of Credit with CIBC Bank USA (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 28, 2024, 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 28, 2024, 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. 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 28, 2024, 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 PGIM, Inc. (formerly Prudential Investment Management, Inc.) (collectively, “Prudential”). 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. In December 2024, the Company optionally prepaid the remaining balance of the Series A of $1.5 million and the Series B note of $3.4 million, both inclusive of accrued interest and a de minimis Yield Maintenance Amount. The prepayment was made with cash on hand. As of December 28, 2024, the Company had aggregate principal outstanding of $30.0 million under the Note Agreement; consisting of the principal outstanding from the $30.0 million Series C notes issued in September 2021. The final maturity of the Series C notes is 7 years from the issuance date. 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 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 28, 2024, 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 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 28, 2024, the Company had not issued any notes under the Shelf Agreement and was in compliance with all of its financial covenants. As of December 28, 2024, 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 2025 $ — $ — 2026 — — 2027 — — 2028 30,000,000 — 2029 — 30,000,000 Thereafter — — Total $ 30,000,000 $ 30,000,000

Accrued Liabilities_

Accrued Liabilities:	12 Months Ended
Accrued Liabilities:	Dec. 28, 2024
Accrued Liabilities:
Accrued Liabilities:	8. Accrued Liabilities: Accrued liabilities at December 28, 2024 and December 30, 2023 are as follows: December 28, 2024 December 30, 2023 Accrued compensation and benefits $ 592,900 $ 587,700 Operating lease liability 641,900 590,200 Accrued interest 167,700 244,200 Accrued purchases of goods and services 239,900 637,000 Other 223,800 799,100 $ 1,866,200 $ 2,858,200

Contract Liabilities_

Contract Liabilities:	12 Months Ended
Contract Liabilities:	Dec. 28, 2024
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 2024 and 2023, respectively: December 28, 2024 December 30, 2023 Balance at beginning of period $ 9,323,600 $ 8,618,100 Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period 2,046,900 2,470,600 Fees earned that were included in the balance at the beginning of the period (1,683,200) (1,765,100) Balance at end of period $ 9,687,300 $ 9,323,600 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 28, 2024: Contract Liabilities expected to be recognized in Amount 2025 $ 1,659,700 2026 1,455,300 2027 1,280,600 2028 1,111,200 2029 962,800 Thereafter 3,217,700 $ 9,687,300 We have applied the optional exemption, as provided for under ASC Topic 606, Revenue from Contracts with Customers

Operating Leases_

Operating Leases:	12 Months Ended
Operating Leases:	Dec. 28, 2024
Operating Leases:
Operating Leases:	10. Operating Leases As of December 28, 2024, 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 5.0 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 $1,067,400 , $1,171,100 and $1,207,200 of rent expense for the periods ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively. Maturities of operating lease liabilities is as follows as of December 28, 2024: Operating Lease Liabilities expected to be recognized in Amount 2025 $ 806,000 2026 828,200 2027 851,100 2028 874,600 2029 898,700 Thereafter — Total lease payments 4,258,600 Less imputed interest (542,800) Present value of lease liabilities $ 3,715,800 Of the $3.7 million operating lease liability outstanding at December 28, 2024, $0.6 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 28, 2024 and December 30, 2023: Year Ended December 28, 2024 December 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow outflow from operating leases $ 784,400 $ 763,300

Income Taxes_

Income Taxes:	12 Months Ended
Income Taxes:	Dec. 28, 2024
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 28, 2024 December 30, 2023 December 31, 2022 Federal income tax expense at statutory rate (21%, 21%, 21%) $ 10,757,000 $ 10,785,900 $ 10,664,500 Change in valuation allowance 180,000 (551,600) (6,600) State and local income taxes, net of federal benefit 1,435,800 1,513,100 1,515,900 Permanent differences, including stock option expenses (1,479,400) (1,372,300) (955,900) Expiration of attributes — 528,600 — Adjustment to uncertain tax positions 258,500 240,100 185,300 Other, net 117,900 39,400 (44,600) Actual income tax expense $ 11,269,800 $ 11,183,200 $ 11,358,600 Components of the provision for income taxes are as follows: Year Ended December 28, 2024 December 30, 2023 December 31, 2022 Current: Federal $ 8,840,600 $ 9,237,600 $ 8,892,200 State 2,025,500 1,883,900 2,167,900 Foreign 563,000 573,800 586,200 Current provision 11,429,100 11,695,300 11,646,300 Deferred: Federal (108,900) (504,700) (351,500) State (50,400) (7,400) 63,800 Deferred provision (159,300) (512,100) (287,700) Total provision for income taxes $ 11,269,800 $ 11,183,200 $ 11,358,600 The tax effects of temporary differences that give rise to the net deferred income tax assets and liabilities are presented below: December 28, 2024 December 30, 2023 Deferred tax assets: Accounts receivable and lease reserves $ 100 $ 500 Non-qualified stock option expense 1,942,000 1,769,200 Deferred revenue 1,728,100 1,612,200 Trademarks 40,200 36,900 Lease deposits — 6,700 Lease revenue and initial direct costs 21,300 29,200 Foreign tax credits 597,300 631,100 Valuation allowance (530,000) (350,000) Operating lease liabilities 884,500 1,026,600 Other 348,300 291,100 Total deferred tax assets 5,031,800 5,053,500 Deferred tax liabilities: Depreciation and amortization (820,000) (1,001,100) Total deferred tax liabilities (820,000) (1,001,100) Total net deferred tax assets $ 4,211,800 $ 4,052,400 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 foreign tax credits. The foreign tax credits will expire after 10 years. As a result, valuation allowances of The amount of unrecognized tax benefits, including interest and penalties, as of December 28, 2024 and December 30, 2023, was $1,663,400 and $1,345,000 , respectively, primarily for potential state taxes. All of these unrecognized tax benefits, if recognized, would impact the effective tax rate. 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 31, 2022 $ 871,300 Increases related to current year tax positions 277,600 Expiration of the statute of limitations for the assessment of taxes (65,800) Balance at December 30, 2023 1,083,100 Increases related to current year tax positions 283,100 Expiration of the statute of limitations for the assessment of taxes (71,900) Balance at December 28, 2024 $ 1,294,300 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 2020. The Company is currently under examination by the Internal Revenue Service for the 2022 tax year. 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
Commitments and Contingencies:	Dec. 28, 2024
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 2024, 2023 and 2022 were $364,900 , $371,200 and $397,700 , 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
Segment Reporting:	Dec. 28, 2024
Segment Reporting:
Segment Reporting:	13. Segment Reporting: The Company currently has one reportable business segment, franchising, and one non-reportable operating segment. The franchising segment franchises value-oriented retail store concepts that buy, sell and trade merchandise. The non-reportable operating 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 CODM is its Chief Executive Officer. Our CODM primarily reviews revenue and income from operations for purposes of allocating resources and evaluating financial performance. Expenses are reviewed on a consolidated basis. The Company’s internal management reporting is the basis for the information disclosed for its operating segments. The following tables summarize financial information by segment and provide a reconciliation of segment contribution to income from operations: Year ended December 28, 2024 December 30, 2023 December 31, 2022 Revenue: Franchising $ 79,477,300 $ 78,477,300 $ 74,473,100 Other 1,811,800 4,766,200 6,937,700 Total revenue $ 81,289,100 $ 83,243,500 $ 81,410,800 Franchising segment operating expenses: Merchandise COGS $ 3,379,200 $ 4,461,500 $ 3,712,800 Selling, general and administrative expenses 24,504,800 24,639,900 21,752,400 Total franchising segment expenses $ 27,884,000 $ 29,101,400 $ 25,465,200 Reconciliation to operating income: Franchising segment income from operations $ 51,593,300 $ 49,375,900 $ 49,007,900 Other operating segment income from operations 1,337,300 3,904,700 4,604,900 Total income from operations $ 52,930,600 $ 53,280,600 $ 53,612,800 Depreciation and amortization: Franchising $ 715,500 $ 646,900 $ 463,100 Other 83,800 125,800 140,000 Total depreciation and amortization $ 799,300 $ 772,700 $ 603,100 As of December 28, 2024 December 30, 2023 Identifiable assets: Franchising $ 7,289,500 $ 7,570,000 Other 19,400 281,200 Unallocated 19,535,600 21,116,500 Total $ 26,844,500 $ 28,967,700 Revenues are all generated from United States operations other than franchising revenues from Canadian operations of $7.3 million, $6.8 million and $6.4 million in each of fiscal 2024, 2023 and 2022, respectively. All long-lived assets are located within the United States.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 39,954,200	$ 40,178,100	$ 39,424,900

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 28, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 28, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We deploy several processes for assessing, identifying and managing material risks from cybersecurity threats. These processes include, but are not limited to, security assessments, physical access restrictions, internal and external penetration testing, endpoint detection and response, and employee security awareness programs and training. Our cybersecurity processes have been integrated into our overall risk management processes, and we engage assistance from third parties as we deem necessary or appropriate. We believe that we have processes in place to oversee and identify risks from cybersecurity threats associated with our use of third-party services providers to our business. See Item 1A: Risk Factors for further discussion regarding data security risks.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our cybersecurity processes have been integrated into our overall risk management processes, and we engage assistance from third parties as we deem necessary or appropriate. We believe that we have processes in place to oversee and identify risks from cybersecurity threats associated with our use of third-party services providers to our business.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board of Directors is charged with providing oversight of our risk management process. Specifically, the Audit Committee is primarily responsible for overseeing the risk management function, including risks from cybersecurity threats. Periodically, the Audit Committee reviews risk assessments, including cybersecurity risks, prepared by management and/or third-party providers.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Audit Committee
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Periodically, the Audit Committee reviews risk assessments, including cybersecurity risks, prepared by management and/or third-party providers.
Cybersecurity Risk Role of Management [Text Block]	Our Information Technology team, under the direction of the Chief Financial Officer and with the assistance of industry- leading third parties with over 20 years of expertise, is tasked with monitoring cybersecurity and operational risks related to information security and system disruption. They have many years of experience in various technology-related functions including security, auditing, compliance and systems. Our Executive Leadership team is briefed regularly on information security, including discussion of processes such as those listed above to monitor the prevention, detection, mitigation and remediation of cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Chief Financial Officer
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our Information Technology team, under the direction of the Chief Financial Officer and with the assistance of industry- leading third parties with over 20 years of expertise, is tasked with monitoring cybersecurity and operational risks related to information security and system disruption. They have many years of experience in various technology-related functions including security, auditing, compliance and systems.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Executive Leadership team is briefed regularly on information security, including discussion of processes such as those listed above to monitor the prevention, detection, mitigation and remediation of cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Significant Accounting Polici_2

Significant Accounting Policies: (Policies)	12 Months Ended
Significant Accounting Policies: (Policies)	Dec. 28, 2024
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 28, 2024 and December 30, 2023, 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 credit losses on trade receivables. The allowance for credit losses was at December 28, 2024 and December 30, 2023 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 credit losses. 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. 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. 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, all of which is finished goods merchandise held for resale.
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 years ended 2024, 2023, and 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 2024, 2023 and 2022. 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. Royalties The Company collects royalties from each retail franchise based upon a percentage of retail sales. The Company recognizes royalties at the time the underlying sales occur. 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 $0.6 million and $0.6 million are outstanding at December 28, 2024 and December 30, 2023, 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 28, 2024, December 30, 2023 and December 31, 2022, the Company recognized $114,700, $109,700 and $100,800 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 28, 2024 December 30, 2023 December 31, 2022 Denominator for basic EPS — weighted average common shares 3,516,122 3,479,936 3,487,732 Dilutive shares associated with option plans 151,357 160,588 104,724 Denominator for diluted EPS — weighted average common shares and dilutive potential common shares 3,667,479 3,640,524 3,592,456 Options excluded from EPS calculation — anti-dilutive 7,578 2,913 21,153
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.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements Disaggregation Income Statement Expenses Improvements to Income Tax Disclosures – In December 2023, the FASB issued guidance that expands income tax disclosures for public entities, including requiring enhanced disclosures related to the rate reconciliation and income taxes paid information. The guidance is effective for annual disclosures for fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance should be applied on a prospective basis, with retrospective application to all prior periods presented in the financial statements permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements and disclosures. Recently Adopted Accounting Pronouncements Segment Reporting requirements or change how a public entity identifies its operating segments, aggregates those operating segments, or determines its reportable segments. The guidance is effective for fiscal years beginning after December 15, 2023, and subsequent interim periods with early adoption permitted, and requires retrospective application to all prior periods presented in the financial statements. The Company adopted this ASU for the December 28, 2024 reporting period, with required disclosures and explanations included in Footnote 13, Segment Reporting.
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
Significant Accounting Policies: (Tables)	Dec. 28, 2024
Significant Accounting Policies:
Schedule of shares outstanding used in the calculation of basic and diluted earnings per share	Year Ended December 28, 2024 December 30, 2023 December 31, 2022 Denominator for basic EPS — weighted average common shares 3,516,122 3,479,936 3,487,732 Dilutive shares associated with option plans 151,357 160,588 104,724 Denominator for diluted EPS — weighted average common shares and dilutive potential common shares 3,667,479 3,640,524 3,592,456 Options excluded from EPS calculation — anti-dilutive 7,578 2,913 21,153

Investment in Leasing Operati_2

Investment in Leasing Operations: (Tables)	12 Months Ended
Investment in Leasing Operations: (Tables)	Dec. 28, 2024
Investment in Leasing Operations:
Schedule of investment in leasing operations	December 28, 2024 December 30, 2023 Direct financing and sales-type leases: Minimum lease payments receivable $ — $ 77,100 Estimated unguaranteed residual value of equipment — 17,700 Unearned lease income, net of initial direct costs deferred — (6,700) Security deposits — (28,100) Total investment in direct financing and sales-type leases — 60,000 Allowance for credit losses — (1,500) Net investment in direct financing and sales-type leases — 58,500 Operating leases: Operating lease assets 543,800 876,500 Less accumulated depreciation and amortization (543,800) (859,900) Net investment in operating leases — 16,600 Total net investment in leasing operations $ — $ 75,100
Schedule of components of leasing income	Year Ended Year Ended Year Ended December 28, 2024 December 30, 2023 December 31, 2022 Interest income on direct financing and sales-type leases $ 6,700 $ 246,200 $ 760,500 Selling profit (loss) at commencement of sales-type leases — 94,900 1,326,900 Operating lease income 1,023,400 2,999,400 2,243,300 Income on sales of equipment under lease 391,800 834,500 1,798,000 Other 389,900 591,200 809,000 Leasing income $ 1,811,800 $ 4,766,200 $ 6,937,700

Receivables_ (Tables)

Receivables: (Tables)	12 Months Ended
Receivables: (Tables)	Dec. 28, 2024
Receivables:
Schedule of the Company's current receivables	December 28, 2024 December 30, 2023 Trade $ 71,100 $ 189,600 Royalty 1,219,700 1,110,500 Other 45,600 175,200 $ 1,336,400 $ 1,475,300

Intangible Assets_ (Tables)

Intangible Assets: (Tables)	12 Months Ended
Intangible Assets: (Tables)	Dec. 28, 2024
Intangible Assets:
Schedule of amortized intangible assets	December 28, 2024 December 30, 2023 Reacquired franchise rights $ 3,540,000 $ 3,540,000 Accumulated amortization (899,700) (545,700) $ 2,640,300 $ 2,994,300
Schedule of future amortization to be expensed	Amortization expected to be expensed in Amount 2025 $ 354,000 2026 354,000 2027 354,000 2028 354,000 2029 354,000 Thereafter 870,300 $ 2,640,300

Shareholders' Equity (Deficit_2

Shareholders' Equity (Deficit): (Tables)	12 Months Ended
Shareholders' Equity (Deficit): (Tables)	Dec. 28, 2024
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 25, 2021 355,621 $ 146.03 Granted 62,540 217.03 Exercised (50,032) 94.97 Forfeited (6,501) 183.28 Outstanding, December 31, 2022 361,628 164.70 Granted 21,320 328.68 Exercised (37,304) 107.49 Forfeited (3,752) 204.26 Outstanding, December 30, 2023 341,892 180.73 Granted 25,300 377.63 Exercised (42,767) 117.70 Forfeited (4,581) 239.61 Outstanding, December 28, 2024 319,844 $ 203.89 5.72 $ 61,841,500 Exercisable, December 28, 2024 233,931 $ 173.68 4.82 $ 52,073,200
Schedule of weighted average assumptions used in estimation of fair value of options granted	Year Ended December 28, 2024 December 30, 2023 December 31, 2022 Risk free interest rate 4.34 % 3.88 % 3.15 % Expected life (years) 6 6 6 Expected volatility 29.13 % 28.10 % 27.58 % Dividend yield 2.84 % 2.94 % 4.29 % Option fair value $ 98.64 $ 79.88 $ 40.59

Debt (Tables)

Debt (Tables)	12 Months Ended
Debt (Tables)	Dec. 28, 2024
Debt:
Schedule of required prepayments of the notes payable for each of the next five years and thereafter	Notes Payable Term Loans 2025 $ — $ — 2026 — — 2027 — — 2028 30,000,000 — 2029 — 30,000,000 Thereafter — — Total $ 30,000,000 $ 30,000,000

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
Accrued Liabilities (Tables)	Dec. 28, 2024
Accrued Liabilities:
Schedule of accrued liabilities	December 28, 2024 December 30, 2023 Accrued compensation and benefits $ 592,900 $ 587,700 Operating lease liability 641,900 590,200 Accrued interest 167,700 244,200 Accrued purchases of goods and services 239,900 637,000 Other 223,800 799,100 $ 1,866,200 $ 2,858,200

Contract Liabilities_ (Tables)

Contract Liabilities: (Tables)	12 Months Ended
Contract Liabilities: (Tables)	Dec. 28, 2024
Contract Liabilities:
Schedule of activity of current and noncurrent deferred franchise revenue	December 28, 2024 December 30, 2023 Balance at beginning of period $ 9,323,600 $ 8,618,100 Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period 2,046,900 2,470,600 Fees earned that were included in the balance at the beginning of the period (1,683,200) (1,765,100) Balance at end of period $ 9,687,300 $ 9,323,600
Schedule of future estimated revenue to be recognized related to performance obligations	Contract Liabilities expected to be recognized in Amount 2025 $ 1,659,700 2026 1,455,300 2027 1,280,600 2028 1,111,200 2029 962,800 Thereafter 3,217,700 $ 9,687,300

Operating Leases_ (Tables)

Operating Leases: (Tables)	12 Months Ended
Operating Leases: (Tables)	Dec. 28, 2024
Operating Leases:
Schedule of maturities of operating lease liabilities	Operating Lease Liabilities expected to be recognized in Amount 2025 $ 806,000 2026 828,200 2027 851,100 2028 874,600 2029 898,700 Thereafter — Total lease payments 4,258,600 Less imputed interest (542,800) Present value of lease liabilities $ 3,715,800
Schedule of supplemental cash flow information related to operating leases	Year Ended December 28, 2024 December 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow outflow from operating leases $ 784,400 $ 763,300

Income Taxes_ (Tables)

Income Taxes: (Tables)	12 Months Ended
Income Taxes: (Tables)	Dec. 28, 2024
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 28, 2024 December 30, 2023 December 31, 2022 Federal income tax expense at statutory rate (21%, 21%, 21%) $ 10,757,000 $ 10,785,900 $ 10,664,500 Change in valuation allowance 180,000 (551,600) (6,600) State and local income taxes, net of federal benefit 1,435,800 1,513,100 1,515,900 Permanent differences, including stock option expenses (1,479,400) (1,372,300) (955,900) Expiration of attributes — 528,600 — Adjustment to uncertain tax positions 258,500 240,100 185,300 Other, net 117,900 39,400 (44,600) Actual income tax expense $ 11,269,800 $ 11,183,200 $ 11,358,600
Schedule of components of the provision for income taxes	Year Ended December 28, 2024 December 30, 2023 December 31, 2022 Current: Federal $ 8,840,600 $ 9,237,600 $ 8,892,200 State 2,025,500 1,883,900 2,167,900 Foreign 563,000 573,800 586,200 Current provision 11,429,100 11,695,300 11,646,300 Deferred: Federal (108,900) (504,700) (351,500) State (50,400) (7,400) 63,800 Deferred provision (159,300) (512,100) (287,700) Total provision for income taxes $ 11,269,800 $ 11,183,200 $ 11,358,600
Schedule of tax effects of temporary differences that give rise to the net deferred income tax assets and liabilities	December 28, 2024 December 30, 2023 Deferred tax assets: Accounts receivable and lease reserves $ 100 $ 500 Non-qualified stock option expense 1,942,000 1,769,200 Deferred revenue 1,728,100 1,612,200 Trademarks 40,200 36,900 Lease deposits — 6,700 Lease revenue and initial direct costs 21,300 29,200 Foreign tax credits 597,300 631,100 Valuation allowance (530,000) (350,000) Operating lease liabilities 884,500 1,026,600 Other 348,300 291,100 Total deferred tax assets 5,031,800 5,053,500 Deferred tax liabilities: Depreciation and amortization (820,000) (1,001,100) Total deferred tax liabilities (820,000) (1,001,100) Total net deferred tax assets $ 4,211,800 $ 4,052,400
Summary of activity related to the Company's unrecognized tax benefits	Total Balance at December 31, 2022 $ 871,300 Increases related to current year tax positions 277,600 Expiration of the statute of limitations for the assessment of taxes (65,800) Balance at December 30, 2023 1,083,100 Increases related to current year tax positions 283,100 Expiration of the statute of limitations for the assessment of taxes (71,900) Balance at December 28, 2024 $ 1,294,300

Segment Reporting_ (Tables)

Segment Reporting: (Tables)	12 Months Ended
Segment Reporting: (Tables)	Dec. 28, 2024
Segment Reporting:
Schedule of financial information by segment and reconciliation of segment contribution to operating income	Year ended December 28, 2024 December 30, 2023 December 31, 2022 Revenue: Franchising $ 79,477,300 $ 78,477,300 $ 74,473,100 Other 1,811,800 4,766,200 6,937,700 Total revenue $ 81,289,100 $ 83,243,500 $ 81,410,800 Franchising segment operating expenses: Merchandise COGS $ 3,379,200 $ 4,461,500 $ 3,712,800 Selling, general and administrative expenses 24,504,800 24,639,900 21,752,400 Total franchising segment expenses $ 27,884,000 $ 29,101,400 $ 25,465,200 Reconciliation to operating income: Franchising segment income from operations $ 51,593,300 $ 49,375,900 $ 49,007,900 Other operating segment income from operations 1,337,300 3,904,700 4,604,900 Total income from operations $ 52,930,600 $ 53,280,600 $ 53,612,800 Depreciation and amortization: Franchising $ 715,500 $ 646,900 $ 463,100 Other 83,800 125,800 140,000 Total depreciation and amortization $ 799,300 $ 772,700 $ 603,100 As of December 28, 2024 December 30, 2023 Identifiable assets: Franchising $ 7,289,500 $ 7,570,000 Other 19,400 281,200 Unallocated 19,535,600 21,116,500 Total $ 26,844,500 $ 28,967,700

Organization and Business_ (Det

Organization and Business: (Details) - item	12 Months Ended
Organization and Business: (Details) - item	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Organization and Business:
Number of weeks in a fiscal year	52	52	53

Significant Accounting Polici_4

Significant Accounting Policies: Balance Sheet Disclosures (Details) - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Receivables
Accounts Receivable, Allowance for Credit Loss, Current	$ 500	$ 600
Restricted Cash
Restricted cash held in escrow	$ 140,000	25,000	$ 65,000
Allowance for Credit Losses
Delinquent period for charging-off against allowance for credit losses	121 days
Canadian operations
Cash Equivalents
Cash located in banks	$ 73,800	$ 143,600

Significant Accounting Polici_5

Significant Accounting Policies: PPE, Intangible Assets, Goodwill, Advertising, Stock-Based Comp (Details) - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Intangible Assets
Impairment expense	$ 0	$ 0	$ 0
Intangible assets	2,640,300	2,994,300
Goodwill
Goodwill impairment	0	0	0
Goodwill	607,500	607,500
Advertising
Advertising costs	$ 600,000	$ 700,000	$ 500,000
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. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Revenue recognition
Deferred revenue	$ 9,687,300	$ 9,323,600	$ 8,618,100
Franchise fees
Revenue recognition
Deferred revenue	7,500,000	7,100,000
Revenue	1,545,600	1,512,000	1,575,400
Marketing Fees
Revenue recognition
Revenue	1,800,000	1,600,000	1,500,000
Software License Fees
Revenue recognition
Deferred revenue	1,900,000	1,800,000
Revenue	$ 400,000	$ 400,000	$ 300,000

Significant Accounting Polici_7

Significant Accounting Policies: Commission Fees (Details) - Commission Fees - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Commission Fees
Capitalized contract costs	$ 600,000	$ 600,000
Expense	$ 114,700	$ 109,700	$ 100,800

Significant Accounting Polici_8

Significant Accounting Policies: Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Earnings Per Share
Denominator for basic EPS - weighted average common shares	3,516,122	3,479,936	3,487,732
Dilutive shares associated with option plans	151,357	160,588	104,724
Denominator for diluted EPS - weighted average common shares and dilutive potential common shares	3,667,479	3,640,524	3,592,456
Options excluded from EPS calculation - anti-dilutive (in shares)	7,578	2,913	21,153

Investment in Leasing Operati_3

Investment in Leasing Operations: Summary of Leasing Operations (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023
Direct financing and sales-type leases:
Minimum lease payments receivable		$ 77,100
Estimated unguaranteed residual value of equipment		17,700
Unearned lease income net of initial direct costs deferred		(6,700)
Security deposits		(28,100)
Total investment in direct financing and sales-type leases	$ 0	60,000
Allowance for credit losses		(1,500)
Net investment in direct financing and sales-type leases		58,500
Operating leases:
Operating lease assets	543,800	876,500
Less accumulated depreciation and amortization	$ (543,800)	(859,900)
Net investment in operating leases		16,600
Total net investment in leasing operations		75,100
Net investment in leases - current		$ 75,100

Investment in Leasing Operati_4

Investment in Leasing Operations: Risk Concentration (Details) - customer	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
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)	Dec. 30, 2023 USD ($)
Direct Financing and Sales-Type Leases, Minimum Lease Payments Receivable
Total	$ 77,100

Investment in Leasing Operati_6

Investment in Leasing Operations: Other (Details) - USD ($)	12 Months Ended
Investment in Leasing Operations: Other (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Allowance for Credit Losses for Leasing Operations
Credit losses	$ 0	$ 0	$ 0
Investment in direct financing and sales-type leases	$ 0	60,000
Financial Asset, Past Due
Allowance for Credit Losses for Leasing Operations
Investment in direct financing and sales-type leases		$ 0

Investment in Leasing Operati_7

Investment in Leasing Operations: Leasing Income (Details) - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Leasing income
Interest income on direct financing and sales-type leases	$ 6,700	$ 246,200	$ 760,500
Selling profit (loss) at commencement of sales-type leases		94,900	1,326,900
Operating lease income	1,023,400	2,999,400	2,243,300
Income on sales of equipment under lease	391,800	834,500	1,798,000
Other	389,900	591,200	809,000
Leasing income	$ 1,811,800	$ 4,766,200	$ 6,937,700

Receivables_ (Details)

Receivables: (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023
Current receivables
Trade	$ 71,100	$ 189,600
Royalty	1,219,700	1,110,500
Other	45,600	175,200
Total current receivables	$ 1,336,400	$ 1,475,300

Intangible Assets_ Franchise ri

Intangible Assets: Franchise rights (Details)	1 Months Ended	12 Months Ended
Intangible Assets: Franchise rights (Details)	Jun. 30, 2022 USD ($) store	Dec. 28, 2024 USD ($)	Dec. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
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 \| $		$ 354,000	$ 354,000	$ 191,700
Franchise Rights
Intangible Assets
Useful life	10 years

Intangible Assets_ Net of Amort

Intangible Assets: Net of Amortization (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023
Intangible Assets:
Reacquired franchise rights	$ 3,540,000	$ 3,540,000
Accumulated amortization	(899,700)	(545,700)
Total	$ 2,640,300	$ 2,994,300

Intangible Assets_ Amortization

Intangible Assets: Amortization (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023
Future amortization to be expensed:
2025	$ 354,000
2026	354,000
2027	354,000
2028	354,000
2029	354,000
Thereafter	870,300
Total	$ 2,640,300	$ 2,994,300

Shareholders' Equity (Deficit_3

Shareholders' Equity (Deficit): Dividends (Details) - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Dividends
Cash dividends declared and paid	$ 38,865,900	$ 43,664,200	$ 19,257,900
2024 Quarterly Dividends
Dividends
Cash dividends declared and paid (in dollars per share)	$ 3.5
Cash dividends declared and paid	$ 12,300,000
2023 Quarterly Dividends
Dividends
Cash dividends declared and paid (in dollars per share)		$ 3.1
Cash dividends declared and paid		$ 10,800,000
2022 Quarterly Dividends
Dividends
Cash dividends declared and paid (in dollars per share)			$ 2.55
Cash dividends declared and paid			$ 8,900,000
2024 Special Dividend
Dividends
Cash dividends declared and paid (in dollars per share)	$ 7.5
Cash dividends declared and paid	$ 26,500,000
2023 Special Dividend
Dividends
Cash dividends declared and paid (in dollars per share)		$ 9.4
Cash dividends declared and paid		$ 32,900,000
2022 Special Dividend
Dividends
Cash dividends declared and paid (in dollars per share)			$ 3
Cash dividends declared and paid			$ 10,400,000

Shareholders' Equity (Deficit_4

Shareholders' Equity (Deficit): Repurchase of Common Stock (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 28, 2024
Repurchase of Common Stock
Aggregate purchase price of shares repurchased	$ 49,119,800
Common Stock Repurchase Program
Repurchase of Common Stock
Number of shares repurchased	226,165
Aggregate purchase price of shares repurchased	$ 49,100,000
Number of additional shares that can be repurchased		78,600

Shareholders' Equity (Deficit_5

Shareholders' Equity (Deficit): Stock Options (Details) - shares		12 Months Ended
	Apr. 24, 2024	Dec. 28, 2024	Apr. 29, 2020	Feb. 24, 2020
2020 Plan
Stock Option Plans
Increase in number of shares authorized for issuance	100,000
Number of shares authorized for issuance			100,000
2020 Plan \| Employee Stock Option \| 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 \| Employee Stock Option \| Maximum
Stock Option Plans
Term of the option		10 years
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_6

Shareholders' Equity (Deficit): Stock Options Activity (Details) - Employee Stock Option - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Number of Shares
Outstanding at the beginning of the period (in shares)	341,892	361,628	355,621
Granted (in shares)	25,300	21,320	62,540
Exercised (in shares)	(42,767)	(37,304)	(50,032)
Forfeited (in shares)	(4,581)	(3,752)	(6,501)
Outstanding at the end of the period (in shares)	319,844	341,892	361,628
Exercisable at the end of the period (in shares)	233,931
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 180.73	$ 164.7	$ 146.03
Granted (in dollars per share)	377.63	328.68	217.03
Exercised (in dollars per share)	117.7	107.49	94.97
Forfeited (in dollars per share)	239.61	204.26	183.28
Outstanding at the end of the period (in dollars per share)	203.89	$ 180.73	$ 164.7
Exercisable at the end of the period (in dollars per share)	$ 173.68
Weighted Average Remaining Contractual Life (years)
Outstanding	5 years 8 months 19 days
Exercisable at the end of the period	4 years 9 months 25 days
Intrinsic Value
Outstanding at the end of the period	$ 61,841,500
Exercisable at the end of the period	$ 52,073,200
Weighted average assumptions and results used in estimation of fair value of options granted
Risk free interest rate (as a percent)	4.34%	3.88%	3.15%
Expected life (years)	6 years	6 years	6 years
Expected volatility (as a percent)	29.13%	28.10%	27.58%
Dividend yield (as a percent)	2.84%	2.94%	4.29%
Option fair value (in dollars per share)	$ 98.64	$ 79.88	$ 40.59

Shareholders' Equity (Deficit_7

Shareholders' Equity (Deficit): Additional Information (Details) - Employee Stock Option - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Additional disclosures
Total intrinsic value of options exercised	$ 11,300,000	$ 9,200,000	$ 6,600,000
Total fair value of shares vested	11,100,000	11,700,000	10,900,000
Compensation expense	1,988,000	$ 1,952,400	$ 1,652,400
Total unrecognized compensation expense	$ 6,600,000
Weighted average period for recognition of unrecognized compensation expense	2 years 2 months 12 days

Debt_ Line of Credit (Details)

Debt: Line of Credit (Details) $ in Millions	12 Months Ended
Debt: Line of Credit (Details) $ in Millions	Dec. 31, 2022 USD ($) loan item	Dec. 28, 2024 USD ($)	Dec. 25, 2021 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
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 \| SOFR
Line of Credit
Variable rate basis	SOFR
Applicable margin (as a percent)	1.75%

Debt_ Notes Payable (Details)

Debt: Notes Payable (Details) - USD ($)	1 Months Ended		12 Months Ended
Debt: Notes Payable (Details) - USD ($)	Dec. 31, 2024	Apr. 30, 2022	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Notes Payable
Payments on notes payable			$ 9,187,500	$ 4,250,000	$ 4,250,000
Series A Notes
Notes Payable
Payments on notes payable	$ 1,500,000
Series B Notes
Notes Payable
Payments on notes payable	$ 3,400,000
Note Agreement \| Notes Payable
Notes Payable
Principal amount outstanding			30,000,000
Minimum prepayment			1,000,000
Note Agreement \| Series C Notes
Notes Payable
Principal amount outstanding			$ 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. 28, 2024 USD ($)
Notes Payable
Required prepayments of the notes payable and term loans for each of the next five years and thereafter
2026	$ 30,000,000
Total	30,000,000
Delayed Draw Term Facility
Required prepayments of the notes payable and term loans for each of the next five years and thereafter
2027	30,000,000
Total	$ 30,000,000

Accrued Liabilities_ (Details)

Accrued Liabilities: (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023
Accrued Liabilities:
Accrued compensation and benefits	$ 592,900	$ 587,700
Operating lease liability	$ 641,900	$ 590,200
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Accrued interest	$ 167,700	$ 244,200
Accrued purchases of goods and services	239,900	637,000
Other	223,800	799,100
Accrued liabilities	$ 1,866,200	$ 2,858,200

Contract Liabilities_ Activity

Contract Liabilities: Activity (Details) - USD ($)	12 Months Ended
Contract Liabilities: Activity (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023
Activity of the current and noncurrent deferred franchise revenue
Balance at beginning of period	$ 9,323,600	$ 8,618,100
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period	2,046,900	2,470,600
Fees earned that were included in the balance at the beginning of the period	(1,683,200)	(1,765,100)
Balance at end of period	$ 9,687,300	$ 9,323,600

Contract Liabilities_ Performan

Contract Liabilities: Performance Obligations (Details)	Dec. 28, 2024 USD ($)
Future estimated revenue to be recognized related to performance obligations
Revenue, remaining performance obligation	$ 9,687,300
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	$ 1,659,700
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	$ 1,455,300
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	$ 1,280,600
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	1 year
Revenue, remaining performance obligation	$ 1,111,200
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-12-31
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	$ 962,800
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-12-30
Future estimated revenue to be recognized related to performance obligations
Duration of expected recognition period for remaining performance obligation
Revenue, remaining performance obligation	$ 3,217,700

Operating Leases_ Summary (Deta

Operating Leases: Summary (Details)	12 Months Ended
Operating Leases: Summary (Details)	Dec. 28, 2024 USD ($) item	Dec. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Operating Leases
Remaining lease term	5 years
Discount rate (as a percent)	5.50%
Rent expense \| $	$ 1,067,400	$ 1,171,100	$ 1,207,200
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 ($)	12 Months Ended
Operating Leases: Maturities and other (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023	Dec. 28, 2019
Maturities of operating lease liabilities:
2025	$ 806,000
2026	828,200
2027	851,100
2028	874,600
2029	898,700
Total	4,258,600
Less imputed interest	(542,800)
Present value of lease liabilities	3,715,800
Operating lease liability
Operating lease liability, current	$ 641,900	$ 590,200
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	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	$ 784,400	$ 763,300

Income Taxes_ Reconciliation, C

Income Taxes: Reconciliation, Components and Deferred Taxes (Details) - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
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%, 21%)	$ 10,757,000	$ 10,785,900	$ 10,664,500
Change in valuation allowance	180,000	(551,600)	(6,600)
State and local income taxes, net of federal benefit	1,435,800	1,513,100	1,515,900
Permanent differences, including stock option expenses	(1,479,400)	(1,372,300)	(955,900)
Expiration of attributes		528,600
Adjustment to uncertain tax positions	258,500	240,100	185,300
Other, net	117,900	39,400	(44,600)
Total provision for income taxes	11,269,800	11,183,200	11,358,600
Current provision for income taxes:
Federal	8,840,600	9,237,600	8,892,200
State	2,025,500	1,883,900	2,167,900
Foreign	563,000	573,800	586,200
Current provision	11,429,100	11,695,300	11,646,300
Deferred provision for income taxes:
Federal	(108,900)	(504,700)	(351,500)
State	(50,400)	(7,400)	63,800
Deferred provision	(159,300)	(512,100)	(287,700)
Total provision for income taxes	11,269,800	11,183,200	$ 11,358,600
Deferred tax assets:
Accounts receivable and lease reserves	100	500
Non-qualified stock option expense	1,942,000	1,769,200
Deferred revenue	1,728,100	1,612,200
Trademarks	40,200	36,900
Lease deposits		6,700
Lease revenue and initial direct costs	21,300	29,200
Foreign tax credits	597,300	631,100
Valuation allowance	(530,000)	(350,000)
Operating lease liabilities	884,500	1,026,600
Other	348,300	291,100
Total deferred tax assets	5,031,800	5,053,500
Deferred tax liabilities:
Depreciation and amortization	(820,000)	(1,001,100)
Total deferred tax liabilities	(820,000)	(1,001,100)
Total net deferred tax assets	$ 4,211,800	$ 4,052,400

Income Taxes_ Other (Details)

Income Taxes: Other (Details) - USD ($)	12 Months Ended
Income Taxes: Other (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023
Deferred tax assets, valuation allowance
Valuation allowance	$ 530,000	$ 350,000
Unrecognized Tax Benefits
Unrecognized tax benefits, including interest and penalties	1,663,400	1,345,000
Interest and penalties accrued related to unrecognized tax benefit	369,100	261,900
Activity related to the company's unrecognized tax benefits
Balance at the beginning of the period	1,083,100	871,300
Increases related to current year tax positions	283,100	277,600
Expiration of the statute of limitations for the assessment of taxes	(71,900)	(65,800)
Balance at the end of the period	$ 1,294,300	$ 1,083,100
Period over which various statutes of limitations are expected to expire	12 months

Commitments and Contingencies_

Commitments and Contingencies: (Details) - USD ($)	12 Months Ended
Commitments and Contingencies: (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Employee Benefit Plan
Service period for vesting of employer contribution	5 years
Company contributions	$ 364,900	$ 371,200	$ 397,700

Segment Reporting_ (Details)

Segment Reporting: (Details)	12 Months Ended
Segment Reporting: (Details)	Dec. 28, 2024 USD ($) segment item	Dec. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting
Number of reportable operating segments \| item	1
Number of non-reportable operating segments \| segment	1
Revenue:
Other	$ 1,811,800	$ 4,766,200	$ 6,937,700
Revenues	81,289,100	83,243,500	81,410,800
Expenses:
Merchandise COGS	3,379,200	4,461,500	3,712,800
Selling, general and administrative expenses	24,944,200	25,108,700	23,158,400
Reconciliation to operating income:
Total income from operations	52,930,600	53,280,600	53,612,800
Depreciation and amortization:
Total depreciation and amortization	799,300	772,700	603,100
Identifiable assets:
Total identifiable assets	26,844,500	28,967,700
Merchandise
Revenue:
Revenue	3,601,300	4,761,100	3,921,600
Franchising \| Canadian operations
Revenue:
Revenues	7,300,000	6,800,000	6,400,000
Operating \| Franchising
Revenue:
Revenue	79,477,300	78,477,300	74,473,100
Expenses:
Merchandise COGS	3,379,200	4,461,500	3,712,800
Selling, general and administrative expenses	24,504,800	24,639,900	21,752,400
Total segment expenses	27,884,000	29,101,400	25,465,200
Reconciliation to operating income:
Total income from operations	51,593,300	49,375,900	49,007,900
Depreciation and amortization:
Total depreciation and amortization	715,500	646,900	463,100
Identifiable assets:
Total identifiable assets	7,289,500	7,570,000
Operating \| Other
Revenue:
Other	1,811,800	4,766,200	6,937,700
Reconciliation to operating income:
Total income from operations	1,337,300	3,904,700	4,604,900
Depreciation and amortization:
Total depreciation and amortization	83,800	125,800	$ 140,000
Identifiable assets:
Total identifiable assets	19,400	281,200
Unallocated
Identifiable assets:
Total identifiable assets	$ 19,535,600	$ 21,116,500