8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  June 30, 2003

Winmark Corporation

(Exact Name of Registrant as Specified in Its Charter)

Minnesota

(State or Other Jurisdiction of Incorporation)

000-22012	41-1622691
(Commission File Number)	(I.R.S. Employer Identification Number)

4200 Dahlberg Drive, Suite 100, Golden Valley, MN 55422-4837

(Address of Principal Executive Offices)  (Zip Code)

(612) 520-8500

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Item 5.                    Other Events and Regulation FD Disclosure.

On July 1, 2003, the Company announced in a press release that it has made two strategic investments.  A copy of the press release is attached as Exhibit 99.1 of this Current Report on Form 8-K.

SIGNATURES

                Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	WINMARK CORPORATION
Date:  July 1, 2003	By:	/s/ John L. Morgan
		Chairman and CEO

2

EXHIBIT INDEX

to

July 1, 2003 Form 8-K

Winmark Corporation

Exhibit Number	Exhibit Description
99.1	Press Release dated July 1, 2003

3

EX-99.1

Exhibit 99.1

Contact:	John L. Morgan
	763-520-8500

FOR IMMEDIATE RELEASE

WINMARK CORPORATION ANNOUNCES TWO STRATEGIC INVESTMENTS

Minneapolis, MN (July 1, 2003)  —  Winmark Corporation (Nasdaq: WINA) announced today that it has made two strategic investments.

Winmark Corporation has made a $1,000,000 equity investment in eFrame, LLC.  The purchase will be directly from eFrame and represents a 20% ownership stake.  eFrame is a Omaha, Nebraska private company that provides technology support services for customers that pay a low monthly fee.  Winmark’s President and COO, Stephen M. Briggs, will join the eFrame Board, and he comments, “We are excited about our investment in eFrame.  Their strategy of serving small and medium size businesses complements our long-term plans to grow Winmark Business Solutions.”

In a separate transaction, Winmark announced it has joined in a group that purchased 5% of the outstanding stock of Analysts International Corporation, a public company located in Minneapolis, Minnesota that provides IT services and staffing.

Commenting on these two investments, John L. Morgan, CEO and Chairman, states, “These investments are a continuation of our efforts to get Winmark involved with companies that will better position us to improve and grow our Company.”

Winmark Corporation provides support services and develops franchises for stores that buy, sell, trade and consign used and new merchandise.  At March 29, 2003, the Company had 830 franchise and retail stores in operation and an additional 25 franchises awarded but not open.  Of the stores in operation, there were 473 Play It Again Sports^®, 220 Once Upon A Child^®, 85 Plato’s Closet^® and 52 Music Go Round^® stores.