Occupation: Founder and chairman, Li-Ning Company, Ltd. Age: 47 Location: Beijing Net Worth: $620 million Billions of people were enthralled as Li Ningthe final torchbearer at the 2008 Beijing. As a franchisor, Winmark isn't left holding the bag with unwanted inventory and isn't subject to the whims of consumers in economic downturns. [5] It was founded in Cleveland as Video Game Exchange in 1990 and grew to 83 stores by the end of 1994, but its excessive expansion resulted in a Chapter 11 bankruptcy in February 1995 and the closure of half its stores. He is popularly known as the ex-husband of Sonja Morgan, a cast member . (Morgan brought 20-year-old financial statements to the interview to prove it.) Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. You try to leave your mark.. Additionally, while resale retail itself is somewhat recession resistant - people who find themselves cash strapped in a recession look to buy cheaper stuff - the off the top royalty streams Winmark collects from its franchises is a further step removed from an economic shock. Winmark also owned but subsequently sold four franchise-based retailed companies: Computer Renaissance (computer equipment), Disc Go Round (CDs), It's About Game (computer games and video games), and ReTool (tools). Once a stock rises, as Winmarks has, the typical pattern is for the CEO to sell a bunch of shares in the market. Morris sold her Play It Again Sports franchise rights to Olson and Dahlberg in 1988. As of its most recent report, Winmark currently franchises 1,262 stores across the US and Canada. As of 14 May 2015 John still owns at least 878,154 units of Winmark stock. John Adams Morgan is an American businessman and Olympic sailing champion who has a net worth of $100 million. The most active traders at the company are $1.99M . [4][25] Roughly 70% of Play It Again Sports' sports equipment is new. [17], In February 2016, President Brett Heffes was chosen as Winmark's next CEO, succeeding John Morgan, who became the executive chairman. The question is: How do you change yourself? The five retail concepts include (in order of size): It is worth briefly noting that Style Encore was established in 2013, while the other brands were established in the '80s and '90s. Inspired by his poker playing, as well as his interest in the poker industry, Morgan began accumulating shares of Canterbury Park Holdings about three years ago. [38] The outlet had an electronic system that recorded all the CDs a store had so customers did not have to browse the shelves trying to determine whether a particular CD was present. Analysts are expecting the company to book a profit of $1.22 a share, up from $1.11 a year ago.Analysts are projecting earnings of $2.79 per share for the fiscal year. In 2000, John Morgan replaced Dahlberg as CEO and renamed the company to Winmark in 2001. Second, I do like horse races. He not only earns money, but he also donates money as well. To motivate the employees, it has to be a public company. The rate at which he donates also speaks volume. Rather than making money from the buying and selling of goods directly, Winmark makes money from franchise royalties and fees. The is an important distinction, as Winmark is not directly a retailer and as such was somewhat protected from the ups and downs of the industry. Badly, he recalls. On February 1, 1949, I.C. [2] Play It Again Sports became Winmark's first division. She sold her stores to them in 1990. This is not a doom and gloom article. We met in a room at OHare. Did you have that measure of self-awareness back then? One long-time Winmark investor, who asks not to be named, says that Morgan is known for saying whatever is on his mind. John Mack's strategy is widely heralded as having been successful. [6][9] In a 2008 interview with the Star Tribune, CEO John Morgan said Winmark plowed the $9 million to $10 million in profit from its franchisees into Wirth Business Credit because they believed leasing supplies will become a profitable business even though the current growth had been slow. His opponent folded and then turned over a hand of four eightsa winning hand almost any time, but Morgan had won the round. When I sit down with Republicans, they dont trust because Im a Democrat. What does this mean for brick and mortar? [25] In 2010, the complete cost to start a Music Go Round was $300,000 and the average yearly sales were between $650,000 and $725,000. John's mailing address filed with the SEC is 605 HWY169 N, SUITE 400, MINNEAPOLIS, MN, 55441. As such, he doesn't need his other wildly expensive lakefront . The ever-bubbly cast member from The Real Housewives of New York (RHONY), Sonja Morgan's only daughter, Quincy Adams Morgan is all grown up.Quincy Adams Morgan turns 17 years old in October and quite actively follows in her mother's fashion footsteps. Around 2013, research company IBISWorld reported that in the used goods outlet market, Goodwill Industries was first with a 21.5% share, Winmark was second with nearly 6%, and The Salvation Army was third with nearly 4%. I went alone. He joined its board of directors in January. [25] Founded as Hi-Tech Consignments in Minneapolis by Bill Shell in 1986, Winmark purchased it in 1993 and renamed it to Music Go Round. Winmark CEO John Morgan is playing cards with the ultra-high rollers in Las Vegas this weekend. [41][42], ReTool bought and sold used tools. While growth opportunities are limited, the company has aggressively repurchased shares, which, when combined with its stable and slow growth business, has yielded solid returns for investors. [2] It went public in August 1993. It wasnt going to be groupthink. He kept Play It Again Sports, Platos Closet, Once Upon A Child, and Music Go Round, and most recently added Style Encore. By far. John Morgan has turned Winmark into a capital compounding machine with returns over 24% annualized compared to the measly 2% achieved by S&P 500 over the same period. Asked if he had a favorite quote, Morgan cited a line from DickensA Tale of Two Cities: It is a far, far better thing that I do, than I have ever done; it is a far, far better rest that I go to than I have ever known. Morgan explains: Most of us are a bag of good news and bad news. Teach the life of Malcolm X to prisoners, almost 170 of them now. He remains the CEO of the company, and The Richest says that he is currently worth $100 million. Absolutely. Asset Summary. NO PHOTO. Tomsten looks to have been a big miss on the future of cards/pictures and digitalization, while eFrame was an odd move into technology support services for businesses. The Age of John Bryan Morgan is 66 years old. Is your share-buying a slow way to take the company private? Morgan, Jack's grandfather and founder of Morgan Packing, passed away on December 21, 1948, at the age of 90. At the very beginning, I thought I would stay with the bank. [2][3] She had attempted to sell a costly, lightly used backpack through making ads and visiting a sports shop, where an employee told her, "We don't sell used equipment." A John Bryan Morgan (born March 31, 1956), with a net worth of $110 million, is an American lawyer and businessman. John Mack Leads Morgan Stanley To Huge Gains March 21, 2007: Morgan Stanley posted a year over year net revenue gain of 29%. Winmark was founded in 1988 as Play It Again Sports Franchise Corporation by Ron Olson and Jeffrey Dahlberg after they purchased the Play It Again Sports franchise rights from Martha Morris. [3] We really screen the franchisees. Winmark investors can likely expect continued mid to low single digits revenue growth and continued ~2% +/- 1 store count growth as the base case. Box 18438 | Minneapolis, MN 55418 | 612.455.6950, This and is republished here under a Creative Commons license., * Please read before republishing * Amazon bought Whole Foods. At the end of the day, I think Winmark will be able to maintain its absurd profitability, continue to grow its store count in the 1-2% range, continue to buy back shares, and continue to grow. He previously held the role of chief executive from 1994 to 2000 when he became executive chairman. This is not only elevated compared to Winmark's 5 yr avg PE ratio of 17.2 but is high in absolute terms for a company with limited future growth prospects, even one that is exceptionally well managed. People make a mistake and pay for it all their lives. If you really think about it, what were my choices to get ahead in life? [34] Computer Renaissance was started in 1993. The company additionally operates in the value oriented niche of resale, further making it recession resistant and partially offsetting the ever present threat of e-commerce. It was unrealistic. Who are the customers of your systems stores? What is the net worth of John Morgan? Winmark was founded in 1988 and is headquartered in Minneapolis, MN. It had a forum for people to discuss small business issues and its articles also discussed finance, insurance, and technology topics with a focus on business. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. . The Franchising segment franchises value-oriented retail store concepts that buy, sell, trade and consign merchandise. As a percentage of WINA's recent stock price of $49.42, this dividend works out to approximately 0.06%. John L Morgan owns about 907,186 units of Winmark Corp common stock. If you find a good idea, pile in. Youve turned that model upside down and have bought more than 1 million shares in the open market in the last 13 years. and downs of the industry. American businessman John Adams Morgan has an estimated net worth of $100 million. . It's About Games locations were largely in Ohio, Pennsylvania, Kentucky, Georgia and Maryland. I dont have a lot of regrets. When Morgan died in 1913, his net worth was $118.3 million, half in his estate and half in his art collection. Long time horizon. [19] Although Winmark's contract with franchisees does not allot them territories, the contract ensures that any rival outlets must be located five or more miles away. John Morgan net worth and salary: John Morgan is a Journalist who has a net worth of $100 Million. As a percentage of WINA's recent stock price of $63.73, this dividend works out to approximately 0.06%. At a recent price of about $73 per share, the market cap of Winmark today is just under $370 million, a 12-fold increase since Morgan took over. Morgan has invested at least $5 million to have the $15 minimum wage placed on the 2020 Florida ballot. Says Morgan, The single best business decision of my career was to take all stock. In a tribute to both Buffet and the nonprofit, Morgan bought Warren Buffets wallet, with a single stock tip inside, for $210,000. What was it like negotiating with Cooper? If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. Willing to accept volatility. MINNEAPOLIS--(BUSINESS WIRE)--Winmark Corporation (Nasdaq: WINA) announced today that current Executive Chairman, John L. Morgan, 78, will retire as a Director and as Executive Chairman, effective .