Winmark (WINA) 10-K9 Mar 212020 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 26, 2020	Mar. 08, 2021	Jun. 27, 2020
Document and Entity Information
Entity Registrant Name	WINMARK CORPORATION
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 26, 2020
Document Transition Report	false
Entity File Number	000-22012
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1622691
Entity Address, Address Line One	605 Highway 169 North, Suite 400
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55441
City Area Code	763
Local Phone Number	520-8500
Title of 12(b) Security	Common Stock, no par value per share
Trading Symbol	WINA
Security Exchange Name	NASDAQ
Amendment Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 269,123,924
Entity Common Stock, Shares Outstanding		3,713,762
Current Fiscal Year End Date	--12-26
Entity Central Index Key	0000908315
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Current Assets:
Cash and cash equivalents	$ 6,659,000	$ 25,130,300
Restricted cash	25,000	50,000
Receivables, less allowance for doubtful accounts of $800 and $1,900	1,581,900	1,669,500
Net investment in leases - current	8,687,500	12,800,100
Income tax receivable	221,200	497,900
Inventories	106,600	86,000
Prepaid expenses	995,200	968,100
Total current assets	18,276,400	41,201,900
Net investment in leases - long-term	4,573,600	12,505,500
Property and equipment:
Furniture and equipment	3,575,800	3,910,900
Building and building improvements	2,952,100	2,955,100
Less - accumulated depreciation and amortization	(4,195,100)	(4,093,400)
Property and equipment, net	2,332,800	2,772,600
Operating lease right of use asset	3,226,300	3,595,200
Goodwill	607,500	607,500
Other assets	435,900	492,500
Deferred income taxes	1,890,700	667,000
Total assets	31,343,200	61,842,200
Current Liabilities:
Notes payable, net of unamortized debt issuance costs of $13,900 and $13,900	4,236,100	3,736,100
Accounts payable	1,769,600	1,015,000
Accrued liabilities	2,624,000	2,783,100
Discounted lease rentals	1,096,600	2,680,700
Deferred revenue	1,657,400	1,717,000
Total current liabilities	11,383,700	11,931,900
Long-term Liabilities:
Notes payable, net of unamortized debt issuance costs of $54,800 and $68,700	17,632,700	21,868,800
Discounted lease rentals	574,000	836,900
Deferred revenue	7,050,900	7,858,500
Operating lease liabilities	5,307,400	5,846,100
Other liabilities	773,200	1,051,700
Total long-term liabilities	31,338,200	37,462,000
Commitments and Contingencies
Shareholders' Equity (Deficit):
Common stock, no par value, 10,000,000 shares authorized, 3,756,028 and 3,947,858 shares issued and outstanding	9,281,800	11,929,300
Retained earnings (accumulated deficit)	(20,660,500)	519,000
Total shareholders' equity (deficit)	(11,378,700)	12,448,300
Total liabilities and shareholders' equity (deficit)	$ 31,343,200	$ 61,842,200

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
CONSOLIDATED BALANCE SHEETS
Receivables, allowance for doubtful accounts	$ 800	$ 1,900
Unamortized debt issuance costs - Current	13,900	13,900
Unamortized debt issuance costs - Noncurrent	$ 54,800	$ 68,700
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	3,756,028	3,947,858
Common stock, shares outstanding	3,756,028	3,947,858

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Revenue:
Leasing income	$ 14,484,000	$ 16,055,800
Leasing income			$ 18,176,500
Total revenue	66,061,800	73,298,900	72,511,100
Cost of merchandise sold	2,103,900	2,469,700	2,741,100
Leasing expense	2,622,600	2,031,100	1,929,300
Provision for credit losses	(79,300)	(78,300)	38,600
Selling, general and administrative expenses	21,203,100	25,745,300	26,038,300
Income from operations	40,211,500	43,131,100	41,763,800
Interest expense	(1,737,500)	(1,731,100)	(2,447,500)
Interest and other income (expense)	43,400	67,400	(33,200)
Income before income taxes	38,517,400	41,467,400	39,283,100
Provision for income taxes	(8,694,100)	(9,318,100)	(9,157,600)
Net income	$ 29,823,300	$ 32,149,300	$ 30,125,500
Earnings per share - basic (in dollars per share)	$ 8.02	$ 8.37	$ 7.77
Earnings per share - diluted (in dollars per share)	$ 7.72	$ 7.84	$ 7.26
Weighted average shares outstanding - basic	3,719,485	3,840,638	3,874,757
Weighted average shares outstanding - diluted	3,863,264	4,100,629	4,149,779
Royalties
Revenue:
Revenue	$ 46,286,200	$ 51,421,800	$ 48,224,500
Merchandise sales
Revenue:
Revenue	2,215,400	2,618,800	2,903,100
Franchise fees
Revenue:
Revenue	1,444,500	1,540,900	1,580,300
Other
Revenue:
Revenue	$ 1,631,700	$ 1,661,600	$ 1,626,700

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock	Retained Earnings (Accumulated Deficit).	Total
BALANCE at Dec. 30, 2017	$ 1,476,200	$ (37,189,700)	$ (35,713,500)
BALANCE (in shares) at Dec. 30, 2017	3,843,078
Shareholders' Equity (Deficit)
Repurchase of common stock	$ (1,846,400)		(1,846,400)
Repurchase of common stock (in shares)	(12,384)
Stock options exercised	$ 2,819,700		2,819,700
Stock options exercised (in shares)	76,992
Compensation expense relating to stock options	$ 1,976,100		1,976,100
Cash dividends		(2,169,900)	(2,169,900)
Comprehensive income (Net income)		30,125,500	30,125,500
BALANCE at Dec. 29, 2018	$ 4,425,600	(9,234,100)	(4,808,500)
BALANCE (in shares) at Dec. 29, 2018	3,907,686
Shareholders' Equity (Deficit)
Repurchase of common stock	$ (5,081,000)	(18,947,100)	(24,028,100)
Repurchase of common stock (in shares)	(150,000)
Stock options exercised	$ 10,918,300		10,918,300
Stock options exercised (in shares)	190,172
Compensation expense relating to stock options	$ 1,666,400		1,666,400
Cash dividends		(3,449,100)	(3,449,100)
Comprehensive income (Net income)		32,149,300	32,149,300
BALANCE at Dec. 28, 2019	$ 11,929,300	519,000	$ 12,448,300
BALANCE (in shares) at Dec. 28, 2019	3,947,858		3,947,858
Shareholders' Equity (Deficit)
Repurchase of common stock	$ (12,215,500)	(36,772,000)	$ (48,987,500)
Repurchase of common stock (in shares)	(300,000)
Stock options exercised	$ 8,252,800		8,252,800
Stock options exercised (in shares)	108,170
Compensation expense relating to stock options	$ 1,315,200		1,315,200
Cash dividends		(14,230,800)	(14,230,800)
Comprehensive income (Net income)		29,823,300	29,823,300
BALANCE at Dec. 26, 2020	$ 9,281,800	$ (20,660,500)	$ (11,378,700)
BALANCE (in shares) at Dec. 26, 2020	3,756,028		3,756,028

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
OPERATING ACTIVITIES:
Net Income	$ 29,823,300	$ 32,149,300	$ 30,125,500
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	484,700	400,100	314,100
Provisions charged to expense	(79,300)	(78,300)	38,600
Compensation expense related to stock options	1,315,200	1,666,400	1,976,100
Deferred income taxes	(1,223,700)	(1,815,300)	827,800
Loss from disposal of property and equipment	200	1,900
Deferred initial direct costs	(18,300)	(92,600)	(1,367,800)
Amortization of deferred initial direct costs	105,900	550,000	1,048,500
Operating lease right of use asset amortization	368,900	345,400
Tax benefits on exercised stock options	872,900	1,218,900	403,800
Change in operating assets and liabilities:
Receivables	87,600	(116,400)	242,900
Principal collections on lease receivables	14,829,200	19,421,400
Income tax receivable/payable	(596,200)	(1,151,300)	1,192,500
Inventories	(20,600)	21,600	(10,500)
Prepaid expenses	(27,100)	(66,500)
Other assets	56,600	(9,900)	(132,200)
Accounts payable	754,600	(336,800)	(721,200)
Accrued and other liabilities	(691,400)	(661,600)	1,490,000
Rents received in advance and security deposits	(1,954,000)	(197,300)	(358,200)
Deferred revenue	(867,200)	(601,800)	(132,900)
Net cash provided by operating activities	43,221,300	50,647,200	34,937,000
INVESTING ACTIVITIES:
Purchase of property and equipment	(45,100)	(169,400)	(693,500)
Purchase of equipment for lease contracts	(4,114,000)	(9,009,000)	(23,104,800)
Principal collections on lease receivables			24,252,200
Net cash provided by (used for) investing activities	(4,159,100)	(9,178,400)	453,900
FINANCING ACTIVITIES:
Proceeds from borrowings on line of credit	46,600,000	18,800,000	7,300,000
Payments on line of credit	(46,600,000)	(18,800,000)	(42,700,000)
Payments on notes payable	(3,750,000)	(3,250,000)	(3,250,000)
Repurchases of common stock	(48,987,500)	(24,028,100)	(1,846,400)
Proceeds from exercises of stock options	8,252,800	10,918,300	2,819,700
Dividends paid	(14,230,800)	(3,449,100)	(2,169,900)
Proceeds from discounted lease rentals	1,157,000	944,400	5,868,500
Net cash used for financing activities	(57,558,500)	(18,864,500)	(33,978,100)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(18,496,300)	22,604,300	1,412,800
Cash, cash equivalents and restricted cash, beginning of period	25,180,300	2,576,000	1,163,200
Cash, cash equivalents and restricted cash, end of period	$ 6,684,000	$ 25,180,300	$ 2,576,000

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS - Supplemental Disclosures - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	$ 1,738,400	$ 1,705,600	$ 2,497,000
Cash paid for income taxes	9,552,500	11,122,300	6,727,600
Non-cash landlord leasehold improvements		2,139,000
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	6,659,000	25,130,300	2,496,000
Restricted cash	25,000	50,000	80,000
Total cash, cash equivalents and restricted cash	$ 6,684,000	$ 25,180,300	$ 2,576,000

Organization and Business_

Organization and Business:	12 Months Ended
Organization and Business:	Dec. 26, 2020
Organization and Business:
Organization and Business:	1. Organization and Business: Winmark Corporation and subsidiaries (the Company) offers licenses to operate franchises using the service marks Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. In addition, the Company sells point-of-sale system hardware to its franchisees and certain merchandise to its Play It Again Sports franchisees. The Company also operates a middle market equipment leasing businesses under the Winmark Capital® mark and operated a small-ticket financing business under the Wirth Business Credit® mark until November 2020. The Company has a 52/53-week fiscal year that ends on the last Saturday in December. Fiscal years 2020, 2019 and 2018 were

Significant Accounting Policies

Significant Accounting Policies:	12 Months Ended
Significant Accounting Policies:	Dec. 26, 2020
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 26, 2020 and December 28, 2019, the Company had of cash located in Canadian banks. The Company holds its cash and cash equivalents with financial institutions and at times, such balances may be in excess of insurance limits. Receivables The Company provides an allowance for doubtful accounts on trade receivables. The allowance for doubtful accounts was at December 26, 2020 and December 28, 2019, respectively. If receivables in excess of the provided allowance are determined uncollectible, they are charged to expense in the year the determination is made. Trade receivables are written off when they become uncollectible (which generally occurs when the franchise terminates and there is no reasonable expectation of collection), and payments subsequently received on such receivable are credited to the allowance for doubtful accounts. Historically, receivables balances written off have not exceeded allowances provided. Restricted Cash The Company is required by certain states to maintain initial franchise fees in a restricted bank account until the franchise opens. The use of these funds by the Company is restricted until the franchise opens. Cash held in escrow totaled Investment in Leasing Operations The Company uses the direct finance method of accounting to record income from direct financing leases. At the inception of a lease, the Company records the minimum future lease payments receivable, the estimated residual value of the leased equipment and the unearned lease income. Initial direct costs related to lease originations are deferred as part of the investment and amortized over the lease term. Unearned lease income is the amount by which the total lease receivable plus the estimated residual value exceeds the cost of the equipment. Leasing Income Recognition Leasing income for direct financing leases is recognized under the effective interest method. The effective interest method of income recognition applies a constant rate of interest equal to the internal rate of return on the lease. For sales-type leases in which the equipment has a fair value greater or less than its carrying amount, selling profit/loss is recognized at commencement. For subsequent periods or for leases in which the equipment’s fair value is equal to its carrying amount, the recording of income is consistent with the accounting for a direct financing lease. For leases that are accounted for as operating leases, income is recognized on a straight-line basis when payments under the lease contract are due. Generally, when a lease is more than 90 days delinquent (when more than three monthly payments are owed), the lease is classified as being on non-accrual and the Company stops recognizing leasing income on that date. Payments received on leases in non-accrual status generally reduce the lease receivable. Leases on non-accrual status remain classified as such until there is sustained payment performance that, in the Company’s judgment, would indicate that all contractual amounts will be collected in full. Leasing Expense Leasing expense includes the cost of financing equipment purchases, the cost of equipment sales as well as depreciation expense for operating lease assets. Initial Direct Costs The Company defers initial direct costs incurred to originate its leases in accordance with applicable accounting guidance . The initial direct costs deferred are part of the investment in leasing operations and are amortized using the effective interest method. Initial direct costs include commissions and other incremental costs related to originating a lease. Lease Residual Values Residual values reflect the estimated amounts to be received at lease termination from sales or other dispositions of leased equipment to unrelated parties. The leased equipment residual values are based on the Company’s best estimate. Allowance for Credit Losses The Company maintains an allowance for credit losses at an amount that it believes to be sufficient to absorb losses inherent in its existing lease portfolio as of the reporting dates. Leases are collectively evaluated for potential loss. The Company’s methodology for determining the allowance for credit losses includes consideration of the level of delinquencies and non-accrual leases, historical net charge-off amounts and review of any significant concentrations. A provision is charged against earnings to maintain the allowance for credit losses at the appropriate level. If the actual results are different from the Company’s estimates, results could be different. The Company’s policy is to charge-off against the allowance the estimated unrecoverable portion of accounts once they reach 121 days delinquent. Inventories The Company values its inventories at the lower of cost, as determined by the weighted average cost method, and net realizable values. Inventory consists of computer hardware and related accessories. Impairment of Long-lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying amount of the asset exceeds expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. Property and Equipment Property and equipment is stated at cost. Depreciation and amortization for financial reporting purposes is provided on the straight-line method. Estimated useful lives used in calculating depreciation and amortization are: three to five years for computer and peripheral equipment, five to seven years for furniture and equipment and the shorter of the lease term or useful life for leasehold improvements. Major repairs, refurbishments and improvements which significantly extend the useful lives of the related assets are capitalized. Maintenance and repairs, supplies and accessories are charged to expense as incurred. 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 2020, 2019 and 2018. 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 operating expenses as incurred. Advertising costs were Accounting for Stock-Based Compensation The Company recognizes the cost of all share-based payments to employees, including grants of employee stock options, in the consolidated financial statements based on the grant date fair value of those awards. This cost is recognized over the period for which an employee is required to provide service in exchange for the award. The Company estimates the fair value of options granted using the Black-Scholes option valuation model. The Company estimates the volatility of its common stock at the date of grant based on its historical volatility rate. The Company’s decision to use historical volatility was based upon the lack of actively traded options on its common stock. The Company estimates the expected term based upon historical option exercises. The risk-free interest rate assumption is based on observed interest rates for the expected term. The Company uses historical data to estimate pre-vesting option forfeitures and record share-based compensation expense only for those awards that are expected to vest. For options granted, the Company amortizes the fair value on a straight-line basis. All options are amortized over the vesting periods, which are generally four years beginning from the date of grant. Revenue Recognition – Franchising The following is a description of the principal sources of revenue for the company’s franchising segment. The Company’s performance obligations under franchise agreements consist of (a) a franchise license, including a license to use one of our brands, (b) a point-of-sale software license, (c) initial services, such as pre-opening training and marketing support, and (d) ongoing services, such as marketing services and operational support. These performance obligations are highly interrelated so we do not consider them to be individually distinct and therefore account for them under ASC 606 as a single performance obligation, which is satisfied by providing a right to use our intellectual property over the estimated life of the franchise. The disaggregation of the Company’s franchise revenue is presented within the Revenue lines of the Consolidated Statements of Operations with the amounts included in Revenue: Other delineated below. For more detailed information about reportable segments, see Note 13 – “Segment Reporting”. Royalties The Company collects royalties from each retail franchise based upon a percentage of retail store gross sales. The Company recognizes royalties as revenue when earned. Merchandise Sales Merchandise sales include the sale of point-of-sale technology equipment to franchisees and the sale of a limited amount of sporting goods to certain Play It Again Sports franchisees. Merchandise sales, which includes shipping and handling charges, are recognized at a point in time when the product has been shipped to the franchisee. Shipping and handling costs associated with outbound freight are accounted for as a fulfillment cost and included in cost of merchandise sold. Franchise Fees The Company collects initial franchise fees when franchise agreements are signed. The Company recognizes franchise fee revenue over the estimated life of the franchise, beginning with the opening of the franchise, which is when the Company has performed substantially all initial services required by the franchise agreement and the franchisee benefits from the rights afforded by the franchise agreement. The Company had deferred franchise fee revenue of Marketing Fees Marketing fee revenue is included in the Revenue: Other line of the Consolidated Statements of Operations. The Company bills and collects annual marketing fees from its franchisees at various times throughout the year. The Company recognizes marketing fee revenue on a straight line basis over the franchise duration. The Company recognized Software License Fees Software license fee revenue is included in the Revenue: Other line of the Consolidated Statements of Operations. The Company bills and collects software license fees from its franchisees when the point-of-sale system is provided to the franchisee. The Company recognizes software license fee revenue on a straight line basis over the franchise duration. The Company recognized Contract Liabilities The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees described above. Commission Fees The Company capitalizes incremental commission fees paid as a result of obtaining franchise agreement contracts. Capitalized commission fees of $0.5 million and $0.6 million are outstanding at December 26, 2020 and December 28, 2019, respectively and are included in Prepaid expenses and Other assets of 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 26, 2020, December 28, 2019 and December 29, 2018, the Company recognized $102,600, $107,200 and $99,500 of commission fee expense, respectively. Income Taxes We account 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. We recognize 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. We record 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. Discounted Lease Rentals The Company may utilize its lease rentals receivable and underlying equipment as collateral to borrow from financial institutions at fixed rates on a non-recourse basis. In the event of a default by a customer, the financial institution has a first lien on the underlying leased equipment, with no further recourse against the Company. Proceeds from discounting are recorded on the balance sheet as discounted lease rentals. As customers make payments, lease income and interest expense are recorded and discounted lease rentals are reduced by the effective interest method. 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 26, 2020 December 28, 2019 December 29, 2018 Denominator for basic EPS — weighted average common shares 3,719,485 3,840,638 3,874,757 Dilutive shares associated with option plans 143,779 259,991 275,022 Denominator for diluted EPS — weighted average common shares and dilutive potential common shares 3,863,264 4,100,629 4,149,779 Options excluded from EPS calculation — anti-dilutive 14,822 10,262 21,933 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 In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments , which changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. This guidance was to be effective for reporting periods beginning after December 15, 2019, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10, Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) Effective Dates, 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. 26, 2020
Investment in Leasing Operations:
Investment in Leasing Operations:	3. Investment in Leasing Operations: Investment in leasing operations consists of the following: December 26, 2020 December 28, 2019 Direct financing and sales-type leases: Minimum lease payments receivable $ 12,536,300 $ 26,001,200 Estimated unguaranteed residual value of equipment 2,950,100 4,109,800 Unearned lease income, net of initial direct costs deferred (1,439,500) (4,039,400) Security deposits (2,169,000) (3,852,000) Equipment installed on leases not yet commenced 1,634,400 3,437,800 Total investment in direct financing and sales-type leases 13,512,300 25,657,400 Allowance for credit losses (270,200) (580,600) Net investment in direct financing and sales-type leases 13,242,100 25,076,800 Operating leases: Operating lease assets 599,100 820,700 Less accumulated depreciation and amortization (580,100) (591,900) Net investment in operating leases 19,000 228,800 Total net investment in leasing operations $ 13,261,100 $ 25,305,600 As of December 26, 2020, the $13.3 million total net investment in leases consisted of $8.7 million classified as current and $4.6 million classified as long-term. As of December 28, 2019, the $25.3 million total net investment in leases consisted of $12.8 million classified as current and $12.5 million classified as long-term. As of December 26, 2020 and December 28, 2019, no customers had leased assets totaling more than 10% of the Company’s total assets. A portion of the lease payments receivable from these customers is assigned as collateral in non-recourse financing with financial institutions. See Note 8 – “Discounted Lease Rentals”. Future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred, is as follows as of December 26, 2020: Direct Financing and Sales-Type Leases Minimum Lease Income Fiscal Year Payments Receivable Amortization 2021 $ 9,880,100 $ 1,286,000 2022 2,584,500 151,400 2023 71,700 2,100 $ 12,536,300 $ 1,439,500 The activity in the allowance for credit losses for leasing operations during 2020, 2019 and 2018, respectively, is as follows: December 26, 2020 December 28, 2019 December 29, 2018 Balance at beginning of period $ 580,600 $ 861,200 $ 711,200 Provisions charged to expense (79,300) (78,300) 38,600 Recoveries (11,800) 21,900 213,500 Deductions for amounts written-off (219,300) (224,200) (102,100) Balance at end of period $ 270,200 $ 580,600 $ 861,200 The Company’s investment in direct financing and sales-type leases (“Investment In Leases”) and allowance for credit losses by loss evaluation methodology are as follows: December 26, 2020 December 28, 2019 Investment Allowance for Investment Allowance for In Leases Credit Losses In Leases Credit Losses Collectively evaluated for loss potential $ 13,512,300 $ 270,200 $ 25,657,400 $ 580,600 Individually evaluated for loss potential — — — — Total $ 13,512,300 $ 270,200 $ 25,657,400 $ 580,600 The Company’s key credit quality indicator for its investment in direct financing and sales-type leases is the status of the lease, defined as accruing or non-accrual. Leases that are accruing income are considered to have a lower risk of loss. Non-accrual leases are those that the Company believes have a higher risk of loss. The following table sets forth information regarding the Company’s accruing and non-accrual leases. Delinquent balances are determined based on the contractual terms of the lease. December 26, 2020 0-60 Days 61-90 Days Over 90 Days Delinquent Delinquent Delinquent and and Accruing and Accruing Accruing Non-Accrual Total Middle-Market $ 13,512,300 $ — $ — $ — $ 13,512,300 Small-Ticket — — — — — Total Investment in Leases $ 13,512,300 $ — $ — $ — $ 13,512,300 December 28, 2019 0-60 Days 61-90 Days Over 90 Days Delinquent Delinquent Delinquent and and Accruing and Accruing Accruing Non-Accrual Total Middle-Market $ 24,546,300 $ — $ — $ — $ 24,546,300 Small-Ticket 1,111,100 — — — 1,111,100 Total Investment in Leases $ 25,657,400 $ — $ — $ — $ 25,657,400 The Company leases high-technology and other business-essential equipment to its leasing customers. Upon expiration of the initial term or extended lease term, depending on the structure of the lease, the customer may return the equipment, renew the lease for an additional term, or purchase the equipment. Due to the uncertainty of such outcome at the end of the lease term, the lease as recorded at commencement represents only the current terms of the agreement. As a lessor, the Company’s leases do not contain non-lease components. The residual values reflect the estimated amounts to be received at lease termination from sales or other dispositions of leased equipment to unrelated parties. The leased equipment residual values are based on the Company’s best estimate. The Company’s risk management strategy for its residual value includes the contractual obligations of customer to maintain, service, and insure the leased equipment, the use of third party remarketers as well as the analytical review of historical asset dispositions . Leasing income as presented on the Consolidated Statements of Operations consists of the following: Year Ended Year Ended December 26, 2020 December 28, 2019 Interest income on direct financing and sales-type leases $ 3,651,700 $ 7,602,600 Selling profit (loss) at commencement of sales-type leases 2,117,500 2,470,300 Operating lease income 2,346,500 2,525,600 Income on sales of equipment under lease 5,246,000 2,855,400 Other 1,122,300 601,900 Leasing income $ 14,484,000 $ 16,055,800

Receivables_

Receivables:	12 Months Ended
Receivables:	Dec. 26, 2020
Receivables:
Receivables:	4. Receivables: The Company’s current receivables consisted of the following: December 26, 2020 December 28, 2019 Trade $ 16,700 $ 35,800 Royalty 1,518,000 1,543,100 Other 47,200 90,600 $ 1,581,900 $ 1,669,500 As part of its normal operating procedures, the Company requires Standby Letters of Credit as collateral for a portion of its trade receivables.

Shareholders' Equity (Deficit)_

Shareholders' Equity (Deficit):	12 Months Ended
Shareholders' Equity (Deficit):	Dec. 26, 2020
Shareholders' Equity (Deficit):
Shareholders' Equity (Deficit):	5. Shareholders’ Equity (Deficit): Dividends In 2020, the Company declared and paid quarterly cash dividends totaling $0.80 per share ($3.0 million) and a $3.00 per share special cash dividend (the “2020 Special Dividend”). The 2020 Special Dividend totaled $11.3 million and was paid by cash on hand. In 2019 the Company declared and paid quarterly cash dividends totaling $0.90 per share ($3.4 million). In 2018, the Company declared and paid quarterly cash dividends totaling $0.56 per share ($2.2 million). Repurchase of Common Stock In December 2019, the Company’s Board of Directors authorized the repurchase of up to 300,000 shares of our common stock for a price of $163.00 per share through a tender offer (the “2020 Tender Offer”). The 2020 Tender Offer began on the date of the announcement, December 17, 2019 and expired on January 16, 2020. Upon expiration, the Company purchased 300,000 shares for a total purchase price of approximately $49.0 million, including fees and expenses related to the Tender Offer. The 2020 Tender Offer was financed in part by net borrowings under the Line of Credit. (See Note 6 – “Debt”). In February 2019, the Company’s Board of Directors authorized the repurchase of up to 150,000 shares of our common stock for a price of $159.63 per share through a tender offer (the “2019 Tender Offer”). The 2019 Tender Offer began on the date of the announcement, February 28, 2019 and expired March 28, 2019. Upon expiration, the Company accepted for payment 150,000 shares for a total purchase price of approximately $24.0 million, including fees and expenses related to the 2019 Tender Offer. The 2019 Tender Offer was financed in part by net borrowings under the Line of Credit. (See Note 6 – “Debt”). In 2018 the Company purchased 12,384 shares of our common stock for an aggregate purchase price of $1.8 million or $149.10 per share. Under a previous Board of Directors’ authorization, as of December 26, 2020 the Company has the ability to repurchase an additional 130,604 shares of its common stock. Repurchases may be made from time to time at prevailing prices, subject to certain restrictions on volume, pricing and timing. Stock Option Plans and Stock-Based Compensation The Company had authorized up to 750,000 shares of common stock for granting either nonqualified or incentive stock options to officers and key employees under the Company’s 2001 Stock Option Plan (the “2001 Plan”). The 2001 Plan expired on February 20, 2011. The Company had authorized up to 700,000 shares of common stock for granting either nonqualified or incentive stock options to officers and key employees under the Company’s 2010 Stock Option Plan (the “2010 Plan”). The 2010 Plan expired on February 24, 2020. The Company had also sponsored a Stock Option Plan for Nonemployee Directors (the “Nonemployee Directors Plan”), which had reserved a total of 350,000 shares for issuance to directors of the Company who are not employees. At the April 29, 2020 Annual Shareholders Meeting, the Company’s shareholders approved a new stock option plan, the 2020 Stock Option Plan (the “2020 Plan”). The 2020 Plan (as described more completely in the Company’s definitive Proxy Statement filed with the United States Securities and Exchange Commission on March 10, 2020) provides for the issuance of up to shares) in the form of either nonqualified or incentive stock option grants. Participants in the 2020 Plan may include employees, officers, directors, consultants and advisors of the Company. Grants under the 2020 Plan are (as they were under the 2001 Plan, 2010 Plan and Nonemployee Directors Plan) made by the Compensation Committee of the Board of Directors at a price of not less than 100% of the fair market value on the date of grant. If an incentive stock option is granted to an individual who owns more than 10% of the voting rights of the Company’s common stock, the option exercise price may not be less than 110% of the fair market value on the date of grant. The term of the options may not exceed 10 years , except in the case of nonqualified stock options, whereby the terms are established by the Compensation Committee. Options may be exercisable in whole or in installments, as determined by the Compensation Committee. Stock option activity under the 2001 Plan, 2010 Plan, 2020 Plan and Nonemployee Directors Plan (collectively, the “Option Plans”) as of December 26, 2020 was as follows: Weighted Average Remaining Number of Weighted Average Contractual Life Shares Exercise Price (years) Intrinsic Value Outstanding, December 30, 2017 658,184 $ 72.33 5.87 $ 37,723,800 Granted 69,000 149.51 Exercised (79,241) 39.37 Forfeited (8,563) 119.24 Outstanding, December 29, 2018 639,380 84.12 5.61 47,808,100 Granted 54,800 170.14 Exercised (190,172) 57.41 Forfeited (24,450) 138.13 Outstanding, December 28, 2019 479,558 101.78 5.79 45,283,200 Granted 45,100 163.87 Exercised (108,170) 76.29 Forfeited (23,000) 148.16 Outstanding, December 26, 2020 393,488 $ 113.19 5.61 $ 27,864,900 Exercisable, December 26, 2020 280,908 $ 94.80 4.39 $ 25,059,600 The fair value of options granted under the Option Plans during 2020, 2019 and 2018 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 26, 2020 December 28, 2019 December 29, 2018 Risk free interest rate 0.45 % 1.85 % 2.73 % Expected life (years) 6 6 6 Expected volatility 25.03 % 19.30 % 19.94 % Dividend yield 2.33 % 1.38 % 1.13 % Option fair value $ 28.25 $ 30.96 $ 32.45 The total intrinsic value of options exercised during 2020, 2019 and 2018 was $8.4 million, $22.7 million and $8.3 million, respectively. The total fair value of shares vested during 2020, 2019 and 2018 was During 2020, 2019 and 2018, option holders surrendered 0 shares, 0 shares and 2,249 shares, respectively, of previously owned common stock as payment for option shares exercised as provided for by the Option Plans. All unexercised options at December 26, 2020 have an exercise price equal to the fair market value on the date of the grant. Compensation expense of $1,315,200 , $1,666,400 and $1,976,100 relating to the vested portion of the fair value of stock options granted was expensed to “Selling, General and Administrative Expenses” in 2020, 2019 and 2018, respectively. As of December 26, 2020, the Company had $3.7 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 2.6 years.

Debt_

Debt:	12 Months Ended
Debt:	Dec. 26, 2020
Debt:
Debt:	6. Debt: Line of Credit During 2019, the Company’s Line of Credit with CIBC Bank USA (formerly known as the PrivateBank and Trust Company) and BMO Harris Bank N.A. (the “Line of Credit”) was amended to, among other things: ● Provide the consent of the lenders for the 2020 Tender Offer; ● Amend the tangible net worth covenant calculation to remove the effect of the 2020 Tender Offer; and ● Allow the replacement of LIBOR. During 2020, the Line of Credit was amended to, among other things: ● Decrease the aggregate commitments from $40.0 million to $25.0 million; ● Remove BMO Harris Bank N.A. as a lender under the Credit Agreement; ● Extend the termination date from July 19, 2021 to August 31, 2024; ● Amend the tangible net worth covenant requirement to be reset as of September 26, 2020; ● Permit the Company to issue up to $25.0 million in additional term notes to one or more affiliates or managed accounts of Prudential Investment Management, Inc.; ● Provide the consent of CIBC Bank USA for the 2020 Special Dividend; ● Amend the fixed charge coverage ratio definition to remove the effect of the 2020 Special Dividend. The Line of Credit has been and will continue to be used for general corporate purposes. During 2020 and 2019, the Line of Credit was used to finance in part the 2020 Tender Offer and 2019 Tender Offer (as indicated above in Note 5). Borrowings under the Line of Credit are subject to certain borrowing base limitations, and 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 tangible net worth and maximum levels of leverage (all as defined within the Line of Credit). As of December 26, 2020, the Company was in compliance with all of its financial covenants, there were 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 LIBOR Rate (as defined) plus an applicable margin of 0% and 2.0% , respectively. Interest periods for LIBOR borrowings can be one , two , three , six or twelve months, as selected by the Company. The Line of Credit also provides for non-utilization fees of 0.25% per annum on the daily average of the unused commitment. Notes Payable The Company has a Note Agreement (the “Note Agreement”) with Prudential Investment Management, Inc., its affiliates and managed accounts (“Prudential”). During 2019, the Note Agreement was amended to, among other things, provide the consent of Prudential for the 2020 Tender Offer, and amend the tangible net worth covenant calculation to remove the effects of the 2020 Tender Offer. During 2020, the Note Agreement was amended to, among other things, amend the tangible net worth covenant requirement to be reset as of September 26, 2020, provide the consent of Prudential for the declaration and payment of the 2020 Special Dividend and to approve the fixed charge coverage ratio definition to remove the effect of the 2020 Special Dividend. As of December 26, 2020, the Company had $13.5 million in principal outstanding from the $25.0 million Series A notes issued in May 2015 and $8.4 million in principal outstanding from the $12.5 million Series B notes issued in August 2017 under the Note Agreement. The final maturity of the Series A and Series B notes is 10 years from the issuance date. For the Series A notes, interest at a rate of 5.50% per annum on the outstanding principal balance is payable quarterly, along with required prepayments of the principal of $500,000 quarterly for the first five years, and $750,000 quarterly thereafter until the principal is paid in full. For the Series B notes, interest at a rate of 5.10% per annum on the outstanding principal balance is payable quarterly, along with required prepayments of the principal of $312,500 quarterly until the principal is paid in full. The Series A and Series B 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 tangible net worth and maximum levels of leverage (all as defined within the Note Agreement). As of December 26, 2020, 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. As of December 26, 2020, required prepayments of the notes payable for each of the next five years and thereafter are as follows: 2021 $ 4,250,000 2022 4,250,000 2023 4,250,000 2024 4,250,000 2025 2,750,000 Thereafter 2,187,500 Total $ 21,937,500

Accrued Liabilities_

Accrued Liabilities:	12 Months Ended
Accrued Liabilities:	Dec. 26, 2020
Accrued Liabilities
Accrued Liabilities:	7. Accrued Liabilities: Accrued liabilities at December 26, 2020 and December 28, 2019 are as follows: December 26, 2020 December 28, 2019 Accrued compensation and benefits $ 1,051,800 $ 887,900 Rent related liabilities 437,400 388,500 Accrued interest 157,200 210,800 Accrued purchases of goods and services 97,800 186,200 Other 879,800 1,109,700 $ 2,624,000 $ 2,783,100

Discounted Lease Rentals_

Discounted Lease Rentals:	12 Months Ended
Discounted Lease Rentals:	Dec. 26, 2020
Discounted Lease Rentals:
Discounted Lease Rentals:	8. Discounted Lease Rentals: The Company utilized certain lease receivables and underlying equipment as collateral to borrow from financial institutions at a weighted average rate of 6.05% at December 26, 2020 on a non-recourse basis. As of December 26, 2020, $1.1 million of the $1.7 million liability balance was current .

Contract Liabilities_

Contract Liabilities:	12 Months Ended
Contract Liabilities:	Dec. 26, 2020
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 2020 and 2019, respectively: December 26, 2020 December 28, 2019 Balance at beginning of period $ 9,575,500 $ 10,177,300 Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period 860,100 1,203,500 Fees earned that were included in the balance at the beginning of the period (1,727,300) (1,805,300) Balance at end of period $ 8,708,300 $ 9,575,500 The following table illustrates future estimated revenue to be recognized for the next five fiscal years and fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 26, 2020: Contract Liabilities expected to be recognized in Amount 2021 $ 1,657,400 2022 1,512,500 2023 1,341,200 2024 1,143,500 2025 927,100 Thereafter 2,126,600 $ 8,708,300

Operating Leases_

Operating Leases:	12 Months Ended
Operating Leases:	Dec. 26, 2020
Operating Leases:
Operating Leases:	10. Operating Leases As of December 26, 2020, 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 9.0 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 $1,195,000 , $1,358,000 and $1,235,000 of rent expense for the periods ended December 26, 2020, December 28, 2019 and December 29, 2018, respectively. Maturities of operating lease liabilities is as follows as of December 26, 2020: Operating Lease Liabilities expected to be recognized in Amount 2021 $ 723,100 2022 742,900 2023 763,300 2024 784,400 2025 806,000 Thereafter 3,452,600 Total lease payments 7,272,300 Less imputed interest (1,546,500) Present value of lease liabilities $ 5,725,800 Of the $5.7 million operating lease liability outstanding at December 26, 2020, $0.4 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 26, 2020 and December 28, 2019: Year Ended December 26, 2020 December 28, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow outflow from operating leases $ 703,700 $ 493,900

Income Taxes_

Income Taxes:	12 Months Ended
Income Taxes:	Dec. 26, 2020
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 26, 2020 December 28, 2019 December 29, 2018 Federal income tax expense at statutory rate (21%, 21%, 21%) $ 8,088,600 $ 8,708,200 $ 8,249,400 Change in valuation allowance 54,000 147,900 (13,800) State and local income taxes, net of federal benefit 1,368,500 1,310,800 1,334,100 Permanent differences, including stock option expenses (1,027,300) (1,056,800) (355,500) Adjustment to uncertain tax positions 85,100 (58,500) 4,500 Other, net 125,200 266,500 (61,100) Actual income tax expense $ 8,694,100 $ 9,318,100 $ 9,157,600 Components of the provision for income taxes are as follows: Year Ended December 26, 2020 December 28, 2019 December 29, 2018 Current: Federal $ 7,836,000 $ 9,076,400 $ 6,355,800 State 1,795,800 1,693,800 1,551,000 Foreign 286,000 363,200 423,000 Current provision 9,917,800 11,133,400 8,329,800 Deferred: Federal (1,202,100) (1,834,800) 967,300 State (21,600) 19,500 (139,500) Deferred provision (1,223,700) (1,815,300) 827,800 Total provision for income taxes $ 8,694,100 $ 9,318,100 $ 9,157,600 The tax effects of temporary differences that give rise to the net deferred income tax assets and liabilities are presented below: December 26, 2020 December 28, 2019 Deferred tax assets: Accounts receivable and lease reserves $ 66,600 $ 154,700 Non-qualified stock option expense 1,581,900 1,758,100 Deferred revenue 1,885,400 1,957,500 Trademarks 36,100 34,500 Lease deposits 532,600 930,700 Loss from and impairment of equity and note investments 2,637,600 2,595,500 Foreign tax credits 185,000 173,100 Valuation allowance (2,822,600) (2,768,600) Other 204,600 194,400 Total deferred tax assets 4,307,200 5,029,900 Deferred tax liabilities: Lease revenue and initial direct costs (2,330,700) (4,207,400) Depreciation and amortization (85,800) (155,500) Total deferred tax liabilities (2,416,500) (4,362,900) Total net deferred tax assets $ 1,890,700 $ 667,000 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 loss from and impairment of equity and note investments (which are capital losses for tax purposes) and the foreign tax credits. As a result, valuation allowances of The amount of unrecognized tax benefits, including interest and penalties, as of December 26, 2020 and December 28, 2019, was $621,100 and $532,500, respectively, primarily for potential state taxes. The Company recognizes interest accrued related to unrecognized tax benefits and penalties as income tax expense for all periods presented. The Company had accrued approximately The following table summarizes the activity related to the Company’s unrecognized tax benefits: Total Balance at December 29, 2018 $ 551,300 Increases related to current year tax positions 131,900 Expiration of the statute of limitations for the assessment of taxes (184,200) Balance at December 28, 2019 499,000 Increases related to current year tax positions 144,500 Subtractions for tax positions of prior years (133,400) Balance at December 26, 2020 $ 510,100 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 2016. 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. 26, 2020
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 2020, 2019 and 2018 were $324,000 , $343,500 and $361,400 , respectively. Litigation The Company is exposed to a number of 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. 26, 2020
Segment Reporting:
Segment Reporting:	13. Segment Reporting: The Company currently has two reportable business segments, franchising and leasing. The franchising segment franchises value-oriented retail store concepts that buy, sell, trade and consign merchandise. The leasing segment includes (i) Winmark Capital Corporation, a middle-market equipment leasing business and (ii) Wirth Business Credit, Inc., a small-ticket financing business. Segment reporting is intended to give financial statement users a better view of how the Company manages and evaluates its businesses. The Company’s internal management reporting is the basis for the information disclosed for its business segments and includes allocation of shared-service costs. Segment assets are those that are directly used in or identified with segment operations, including cash, restricted cash, accounts receivable, prepaid expenses, inventory, property and equipment, investment in leasing operations and goodwill. Unallocated assets include corporate cash and cash equivalents, current and deferred tax amounts, operating lease right of use assets and other corporate assets. Inter-segment balances and transactions have been eliminated. The following tables summarize financial information by segment and provide a reconciliation of segment contribution to operating income: Year ended December 26, 2020 December 28, 2019 December 29, 2018 Revenue: Franchising $ 51,577,800 $ 57,243,100 $ 54,334,600 Leasing 14,484,000 16,055,800 18,176,500 Total revenue $ 66,061,800 $ 73,298,900 $ 72,511,100 Reconciliation to operating income: Franchising segment contribution $ 31,880,200 $ 35,169,900 $ 31,882,200 Leasing segment contribution 8,331,300 7,961,200 9,881,600 Total operating income $ 40,211,500 $ 43,131,100 $ 41,763,800 Depreciation and amortization: Franchising $ 285,300 $ 281,600 $ 240,500 Leasing 199,400 118,500 73,600 Total depreciation and amortization $ 484,700 $ 400,100 $ 314,100 As of December 26, 2020 December 28, 2019 Identifiable assets: Franchising $ 4,848,300 $ 3,736,000 Leasing 14,462,600 26,596,700 Unallocated 12,032,300 31,509,500 Total $ 31,343,200 $ 61,842,200 Revenues are all generated from United States operations other than franchising revenues from Canadian operations of $4.0 million, $4.7 million and $4.4 million in each of fiscal 2020, 2019 and 2018, respectively. All long-lived assets are located within the United States.

Significant Accounting Polici_2

Significant Accounting Policies: (Policies)	12 Months Ended
Significant Accounting Policies: (Policies)	Dec. 26, 2020
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 26, 2020 and December 28, 2019, the Company had of cash located in Canadian banks. The Company holds its cash and cash equivalents with financial institutions and at times, such balances may be in excess of insurance limits.
Receivables	Receivables The Company provides an allowance for doubtful accounts on trade receivables. The allowance for doubtful accounts was at December 26, 2020 and December 28, 2019, respectively. If receivables in excess of the provided allowance are determined uncollectible, they are charged to expense in the year the determination is made. Trade receivables are written off when they become uncollectible (which generally occurs when the franchise terminates and there is no reasonable expectation of collection), and payments subsequently received on such receivable are credited to the allowance for doubtful accounts. Historically, receivables balances written off have not exceeded allowances provided.
Restricted Cash	Restricted Cash The Company is required by certain states to maintain initial franchise fees in a restricted bank account until the franchise opens. The use of these funds by the Company is restricted until the franchise opens. Cash held in escrow totaled
Investment in Leasing Operations	Investment in Leasing Operations The Company uses the direct finance method of accounting to record income from direct financing leases. At the inception of a lease, the Company records the minimum future lease payments receivable, the estimated residual value of the leased equipment and the unearned lease income. Initial direct costs related to lease originations are deferred as part of the investment and amortized over the lease term. Unearned lease income is the amount by which the total lease receivable plus the estimated residual value exceeds the cost of the equipment. Leasing Income Recognition Leasing income for direct financing leases is recognized under the effective interest method. The effective interest method of income recognition applies a constant rate of interest equal to the internal rate of return on the lease. For sales-type leases in which the equipment has a fair value greater or less than its carrying amount, selling profit/loss is recognized at commencement. For subsequent periods or for leases in which the equipment’s fair value is equal to its carrying amount, the recording of income is consistent with the accounting for a direct financing lease. For leases that are accounted for as operating leases, income is recognized on a straight-line basis when payments under the lease contract are due. Generally, when a lease is more than 90 days delinquent (when more than three monthly payments are owed), the lease is classified as being on non-accrual and the Company stops recognizing leasing income on that date. Payments received on leases in non-accrual status generally reduce the lease receivable. Leases on non-accrual status remain classified as such until there is sustained payment performance that, in the Company’s judgment, would indicate that all contractual amounts will be collected in full. Leasing Expense Leasing expense includes the cost of financing equipment purchases, the cost of equipment sales as well as depreciation expense for operating lease assets. Initial Direct Costs The Company defers initial direct costs incurred to originate its leases in accordance with applicable accounting guidance . The initial direct costs deferred are part of the investment in leasing operations and are amortized using the effective interest method. Initial direct costs include commissions and other incremental costs related to originating a lease. Lease Residual Values Residual values reflect the estimated amounts to be received at lease termination from sales or other dispositions of leased equipment to unrelated parties. The leased equipment residual values are based on the Company’s best estimate. Allowance for Credit Losses The Company maintains an allowance for credit losses at an amount that it believes to be sufficient to absorb losses inherent in its existing lease portfolio as of the reporting dates. Leases are collectively evaluated for potential loss. The Company’s methodology for determining the allowance for credit losses includes consideration of the level of delinquencies and non-accrual leases, historical net charge-off amounts and review of any significant concentrations. A provision is charged against earnings to maintain the allowance for credit losses at the appropriate level. If the actual results are different from the Company’s estimates, results could be different. The Company’s policy is to charge-off against the allowance the estimated unrecoverable portion of accounts once they reach 121 days delinquent.
Inventories	Inventories The Company values its inventories at the lower of cost, as determined by the weighted average cost method, and net realizable values. Inventory consists of computer hardware and related accessories.
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying amount of the asset exceeds expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value.
Property and Equipment	Property and Equipment Property and equipment is stated at cost. Depreciation and amortization for financial reporting purposes is provided on the straight-line method. Estimated useful lives used in calculating depreciation and amortization are: three to five years for computer and peripheral equipment, five to seven years for furniture and equipment and the shorter of the lease term or useful life for leasehold improvements. Major repairs, refurbishments and improvements which significantly extend the useful lives of the related assets are capitalized. Maintenance and repairs, supplies and accessories are charged to expense as incurred.
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 2020, 2019 and 2018. 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 operating expenses as incurred. Advertising costs were
Accounting for Stock-Based Compensation	Accounting for Stock-Based Compensation The Company recognizes the cost of all share-based payments to employees, including grants of employee stock options, in the consolidated financial statements based on the grant date fair value of those awards. This cost is recognized over the period for which an employee is required to provide service in exchange for the award. The Company estimates the fair value of options granted using the Black-Scholes option valuation model. The Company estimates the volatility of its common stock at the date of grant based on its historical volatility rate. The Company’s decision to use historical volatility was based upon the lack of actively traded options on its common stock. The Company estimates the expected term based upon historical option exercises. The risk-free interest rate assumption is based on observed interest rates for the expected term. The Company uses historical data to estimate pre-vesting option forfeitures and record share-based compensation expense only for those awards that are expected to vest. For options granted, the Company amortizes the fair value on a straight-line basis. All options are amortized over the vesting periods, which are generally four years beginning from the date of grant.
Revenue Recognition - Franchising	Revenue Recognition – Franchising The following is a description of the principal sources of revenue for the company’s franchising segment. The Company’s performance obligations under franchise agreements consist of (a) a franchise license, including a license to use one of our brands, (b) a point-of-sale software license, (c) initial services, such as pre-opening training and marketing support, and (d) ongoing services, such as marketing services and operational support. These performance obligations are highly interrelated so we do not consider them to be individually distinct and therefore account for them under ASC 606 as a single performance obligation, which is satisfied by providing a right to use our intellectual property over the estimated life of the franchise. The disaggregation of the Company’s franchise revenue is presented within the Revenue lines of the Consolidated Statements of Operations with the amounts included in Revenue: Other delineated below. For more detailed information about reportable segments, see Note 13 – “Segment Reporting”. Royalties The Company collects royalties from each retail franchise based upon a percentage of retail store gross sales. The Company recognizes royalties as revenue when earned. Merchandise Sales Merchandise sales include the sale of point-of-sale technology equipment to franchisees and the sale of a limited amount of sporting goods to certain Play It Again Sports franchisees. Merchandise sales, which includes shipping and handling charges, are recognized at a point in time when the product has been shipped to the franchisee. Shipping and handling costs associated with outbound freight are accounted for as a fulfillment cost and included in cost of merchandise sold. Franchise Fees The Company collects initial franchise fees when franchise agreements are signed. The Company recognizes franchise fee revenue over the estimated life of the franchise, beginning with the opening of the franchise, which is when the Company has performed substantially all initial services required by the franchise agreement and the franchisee benefits from the rights afforded by the franchise agreement. The Company had deferred franchise fee revenue of Marketing Fees Marketing fee revenue is included in the Revenue: Other line of the Consolidated Statements of Operations. The Company bills and collects annual marketing fees from its franchisees at various times throughout the year. The Company recognizes marketing fee revenue on a straight line basis over the franchise duration. The Company recognized Software License Fees Software license fee revenue is included in the Revenue: Other line of the Consolidated Statements of Operations. The Company bills and collects software license fees from its franchisees when the point-of-sale system is provided to the franchisee. The Company recognizes software license fee revenue on a straight line basis over the franchise duration. The Company recognized Contract Liabilities The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees described above. Commission Fees The Company capitalizes incremental commission fees paid as a result of obtaining franchise agreement contracts. Capitalized commission fees of $0.5 million and $0.6 million are outstanding at December 26, 2020 and December 28, 2019, respectively and are included in Prepaid expenses and Other assets of 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 26, 2020, December 28, 2019 and December 29, 2018, the Company recognized $102,600, $107,200 and $99,500 of commission fee expense, respectively.
Income Taxes	Income Taxes We account 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. We recognize 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. We record 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.
Discounted Lease Rentals	Discounted Lease Rentals The Company may utilize its lease rentals receivable and underlying equipment as collateral to borrow from financial institutions at fixed rates on a non-recourse basis. In the event of a default by a customer, the financial institution has a first lien on the underlying leased equipment, with no further recourse against the Company. Proceeds from discounting are recorded on the balance sheet as discounted lease rentals. As customers make payments, lease income and interest expense are recorded and discounted lease rentals are reduced by the effective interest method.
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 26, 2020 December 28, 2019 December 29, 2018 Denominator for basic EPS — weighted average common shares 3,719,485 3,840,638 3,874,757 Dilutive shares associated with option plans 143,779 259,991 275,022 Denominator for diluted EPS — weighted average common shares and dilutive potential common shares 3,863,264 4,100,629 4,149,779 Options excluded from EPS calculation — anti-dilutive 14,822 10,262 21,933
Fair Value Measurements	Fair Value Measurements The Company defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company uses three levels of inputs to measure fair value: ● Level 1 — quoted prices in active markets for identical assets and liabilities. ● Level 2 — observable inputs other than quoted prices in active markets for identical assets and liabilities. ● Level 3 — unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions. Due to their nature, the carrying value of cash equivalents, receivables, payables and debt obligations approximates fair value.
Recent Accounting Pronouncements:	Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments , which changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. This guidance was to be effective for reporting periods beginning after December 15, 2019, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10, Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) Effective Dates,
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. 26, 2020
Significant Accounting Policies:
Schedule of shares outstanding used in the calculation of basic and diluted earnings per share	Year Ended December 26, 2020 December 28, 2019 December 29, 2018 Denominator for basic EPS — weighted average common shares 3,719,485 3,840,638 3,874,757 Dilutive shares associated with option plans 143,779 259,991 275,022 Denominator for diluted EPS — weighted average common shares and dilutive potential common shares 3,863,264 4,100,629 4,149,779 Options excluded from EPS calculation — anti-dilutive 14,822 10,262 21,933

Investment in Leasing Operati_2

Investment in Leasing Operations: (Tables)	12 Months Ended
Investment in Leasing Operations: (Tables)	Dec. 26, 2020
Investment in Leasing Operations:
Schedule of investment in leasing operations	December 26, 2020 December 28, 2019 Direct financing and sales-type leases: Minimum lease payments receivable $ 12,536,300 $ 26,001,200 Estimated unguaranteed residual value of equipment 2,950,100 4,109,800 Unearned lease income, net of initial direct costs deferred (1,439,500) (4,039,400) Security deposits (2,169,000) (3,852,000) Equipment installed on leases not yet commenced 1,634,400 3,437,800 Total investment in direct financing and sales-type leases 13,512,300 25,657,400 Allowance for credit losses (270,200) (580,600) Net investment in direct financing and sales-type leases 13,242,100 25,076,800 Operating leases: Operating lease assets 599,100 820,700 Less accumulated depreciation and amortization (580,100) (591,900) Net investment in operating leases 19,000 228,800 Total net investment in leasing operations $ 13,261,100 $ 25,305,600
Schedule of future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred	Future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred, is as follows as of December 26, 2020: Direct Financing and Sales-Type Leases Minimum Lease Income Fiscal Year Payments Receivable Amortization 2021 $ 9,880,100 $ 1,286,000 2022 2,584,500 151,400 2023 71,700 2,100 $ 12,536,300 $ 1,439,500
Schedule of activity in the allowance for credit losses for leasing operations	December 26, 2020 December 28, 2019 December 29, 2018 Balance at beginning of period $ 580,600 $ 861,200 $ 711,200 Provisions charged to expense (79,300) (78,300) 38,600 Recoveries (11,800) 21,900 213,500 Deductions for amounts written-off (219,300) (224,200) (102,100) Balance at end of period $ 270,200 $ 580,600 $ 861,200
Schedule of investment in direct financing and sales-type leases (investment in leases) and allowance for credit losses by loss evaluation methodology	December 26, 2020 December 28, 2019 Investment Allowance for Investment Allowance for In Leases Credit Losses In Leases Credit Losses Collectively evaluated for loss potential $ 13,512,300 $ 270,200 $ 25,657,400 $ 580,600 Individually evaluated for loss potential — — — — Total $ 13,512,300 $ 270,200 $ 25,657,400 $ 580,600
Schedule of information regarding accruing and non-accrual leases	December 26, 2020 0-60 Days 61-90 Days Over 90 Days Delinquent Delinquent Delinquent and and Accruing and Accruing Accruing Non-Accrual Total Middle-Market $ 13,512,300 $ — $ — $ — $ 13,512,300 Small-Ticket — — — — — Total Investment in Leases $ 13,512,300 $ — $ — $ — $ 13,512,300 December 28, 2019 0-60 Days 61-90 Days Over 90 Days Delinquent Delinquent Delinquent and and Accruing and Accruing Accruing Non-Accrual Total Middle-Market $ 24,546,300 $ — $ — $ — $ 24,546,300 Small-Ticket 1,111,100 — — — 1,111,100 Total Investment in Leases $ 25,657,400 $ — $ — $ — $ 25,657,400
Schedule of components of leasing income	Year Ended Year Ended December 26, 2020 December 28, 2019 Interest income on direct financing and sales-type leases $ 3,651,700 $ 7,602,600 Selling profit (loss) at commencement of sales-type leases 2,117,500 2,470,300 Operating lease income 2,346,500 2,525,600 Income on sales of equipment under lease 5,246,000 2,855,400 Other 1,122,300 601,900 Leasing income $ 14,484,000 $ 16,055,800

Receivables_ (Tables)

Receivables: (Tables)	12 Months Ended
Receivables: (Tables)	Dec. 26, 2020
Receivables:
Schedule of the Company's current receivables	December 26, 2020 December 28, 2019 Trade $ 16,700 $ 35,800 Royalty 1,518,000 1,543,100 Other 47,200 90,600 $ 1,581,900 $ 1,669,500

Shareholders' Equity (Deficit_2

Shareholders' Equity (Deficit): (Tables)	12 Months Ended
Shareholders' Equity (Deficit): (Tables)	Dec. 26, 2020
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 30, 2017 658,184 $ 72.33 5.87 $ 37,723,800 Granted 69,000 149.51 Exercised (79,241) 39.37 Forfeited (8,563) 119.24 Outstanding, December 29, 2018 639,380 84.12 5.61 47,808,100 Granted 54,800 170.14 Exercised (190,172) 57.41 Forfeited (24,450) 138.13 Outstanding, December 28, 2019 479,558 101.78 5.79 45,283,200 Granted 45,100 163.87 Exercised (108,170) 76.29 Forfeited (23,000) 148.16 Outstanding, December 26, 2020 393,488 $ 113.19 5.61 $ 27,864,900 Exercisable, December 26, 2020 280,908 $ 94.80 4.39 $ 25,059,600
Schedule of weighted average assumptions used in estimation of fair value of options granted	Year Ended December 26, 2020 December 28, 2019 December 29, 2018 Risk free interest rate 0.45 % 1.85 % 2.73 % Expected life (years) 6 6 6 Expected volatility 25.03 % 19.30 % 19.94 % Dividend yield 2.33 % 1.38 % 1.13 % Option fair value $ 28.25 $ 30.96 $ 32.45

Debt (Tables)

Debt (Tables)	12 Months Ended
Debt (Tables)	Dec. 26, 2020
Debt:
Schedule of required prepayments of the notes payable for each of the next five years and thereafter	2021 $ 4,250,000 2022 4,250,000 2023 4,250,000 2024 4,250,000 2025 2,750,000 Thereafter 2,187,500 Total $ 21,937,500

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
Accrued Liabilities (Tables)	Dec. 26, 2020
Accrued Liabilities
Schedule of accrued liabilities	December 26, 2020 December 28, 2019 Accrued compensation and benefits $ 1,051,800 $ 887,900 Rent related liabilities 437,400 388,500 Accrued interest 157,200 210,800 Accrued purchases of goods and services 97,800 186,200 Other 879,800 1,109,700 $ 2,624,000 $ 2,783,100

Contract Liabilities_ (Tables)

Contract Liabilities: (Tables)	12 Months Ended
Contract Liabilities: (Tables)	Dec. 26, 2020
Contract Liabilities:
Schedule of activity of current and noncurrent deferred franchise revenue	December 26, 2020 December 28, 2019 Balance at beginning of period $ 9,575,500 $ 10,177,300 Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period 860,100 1,203,500 Fees earned that were included in the balance at the beginning of the period (1,727,300) (1,805,300) Balance at end of period $ 8,708,300 $ 9,575,500
Schedule of future estimated revenue to be recognized related to performance obligations	Contract Liabilities expected to be recognized in Amount 2021 $ 1,657,400 2022 1,512,500 2023 1,341,200 2024 1,143,500 2025 927,100 Thereafter 2,126,600 $ 8,708,300

Operating Leases_ (Tables)

Operating Leases: (Tables)	12 Months Ended
Operating Leases: (Tables)	Dec. 26, 2020
Operating Leases:
Schedule of maturities of operating lease liabilities	Operating Lease Liabilities expected to be recognized in Amount 2021 $ 723,100 2022 742,900 2023 763,300 2024 784,400 2025 806,000 Thereafter 3,452,600 Total lease payments 7,272,300 Less imputed interest (1,546,500) Present value of lease liabilities $ 5,725,800
Schedule of supplemental cash flow information related to operating leases	Year Ended December 26, 2020 December 28, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow outflow from operating leases $ 703,700 $ 493,900
Schedule of minimum rental commitments under noncancelable operating leases, made in accordance with accountaing guidance from the prior year

Income Taxes_ (Tables)

Income Taxes: (Tables)	12 Months Ended
Income Taxes: (Tables)	Dec. 26, 2020
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 26, 2020 December 28, 2019 December 29, 2018 Federal income tax expense at statutory rate (21%, 21%, 21%) $ 8,088,600 $ 8,708,200 $ 8,249,400 Change in valuation allowance 54,000 147,900 (13,800) State and local income taxes, net of federal benefit 1,368,500 1,310,800 1,334,100 Permanent differences, including stock option expenses (1,027,300) (1,056,800) (355,500) Adjustment to uncertain tax positions 85,100 (58,500) 4,500 Other, net 125,200 266,500 (61,100) Actual income tax expense $ 8,694,100 $ 9,318,100 $ 9,157,600
Schedule of components of the provision for income taxes	Year Ended December 26, 2020 December 28, 2019 December 29, 2018 Current: Federal $ 7,836,000 $ 9,076,400 $ 6,355,800 State 1,795,800 1,693,800 1,551,000 Foreign 286,000 363,200 423,000 Current provision 9,917,800 11,133,400 8,329,800 Deferred: Federal (1,202,100) (1,834,800) 967,300 State (21,600) 19,500 (139,500) Deferred provision (1,223,700) (1,815,300) 827,800 Total provision for income taxes $ 8,694,100 $ 9,318,100 $ 9,157,600
Schedule of tax effects of temporary differences that give rise to the net deferred income tax assets and liabilities	December 26, 2020 December 28, 2019 Deferred tax assets: Accounts receivable and lease reserves $ 66,600 $ 154,700 Non-qualified stock option expense 1,581,900 1,758,100 Deferred revenue 1,885,400 1,957,500 Trademarks 36,100 34,500 Lease deposits 532,600 930,700 Loss from and impairment of equity and note investments 2,637,600 2,595,500 Foreign tax credits 185,000 173,100 Valuation allowance (2,822,600) (2,768,600) Other 204,600 194,400 Total deferred tax assets 4,307,200 5,029,900 Deferred tax liabilities: Lease revenue and initial direct costs (2,330,700) (4,207,400) Depreciation and amortization (85,800) (155,500) Total deferred tax liabilities (2,416,500) (4,362,900) Total net deferred tax assets $ 1,890,700 $ 667,000
Summary of activity related to the Company's unrecognized tax benefits	Total Balance at December 29, 2018 $ 551,300 Increases related to current year tax positions 131,900 Expiration of the statute of limitations for the assessment of taxes (184,200) Balance at December 28, 2019 499,000 Increases related to current year tax positions 144,500 Subtractions for tax positions of prior years (133,400) Balance at December 26, 2020 $ 510,100

Segment Reporting_ (Tables)

Segment Reporting: (Tables)	12 Months Ended
Segment Reporting: (Tables)	Dec. 26, 2020
Segment Reporting:
Schedule of financial information by segment and reconciliation of segment contribution to operating income	Year ended December 26, 2020 December 28, 2019 December 29, 2018 Revenue: Franchising $ 51,577,800 $ 57,243,100 $ 54,334,600 Leasing 14,484,000 16,055,800 18,176,500 Total revenue $ 66,061,800 $ 73,298,900 $ 72,511,100 Reconciliation to operating income: Franchising segment contribution $ 31,880,200 $ 35,169,900 $ 31,882,200 Leasing segment contribution 8,331,300 7,961,200 9,881,600 Total operating income $ 40,211,500 $ 43,131,100 $ 41,763,800 Depreciation and amortization: Franchising $ 285,300 $ 281,600 $ 240,500 Leasing 199,400 118,500 73,600 Total depreciation and amortization $ 484,700 $ 400,100 $ 314,100 As of December 26, 2020 December 28, 2019 Identifiable assets: Franchising $ 4,848,300 $ 3,736,000 Leasing 14,462,600 26,596,700 Unallocated 12,032,300 31,509,500 Total $ 31,343,200 $ 61,842,200

Organization and Business_ (Det

Organization and Business: (Details) - item	12 Months Ended
Organization and Business: (Details) - item	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Organization and Business:
Number of weeks in a fiscal year	52	52	52

Significant Accounting Polici_4

Significant Accounting Policies: Balance Sheet Disclosures (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Receivables
Allowance for Doubtful Accounts Receivable, Current	$ 800	$ 1,900
Restricted Cash
Restricted cash held in escrow	$ 25,000	50,000	$ 80,000
Allowance for Credit Losses
Delinquent period for charging-off against allowance for credit losses	121 days
Canadian operations
Cash Equivalents
Cash located in banks	$ 77,100	$ 56,500

Significant Accounting Polici_5

Significant Accounting Policies: PPE, Goodwill, Advertising, Stock-Based Comp (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Goodwill
Goodwill impairment	$ 0	$ 0	$ 0
Goodwill	607,500	607,500
Advertising
Advertising costs	$ 273,900	$ 402,700	$ 423,400
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. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Revenue recognition
Deferred revenue	$ 8,708,300	$ 9,575,500	$ 10,177,300
Franchise fees
Revenue recognition
Deferred revenue	6,823,100	7,623,800
Revenue	1,444,500	1,540,900	1,580,300
Marketing Fees
Revenue recognition
Revenue	1,300,000	1,300,000	1,300,000
Software License Fees
Revenue recognition
Deferred revenue	1,655,100	1,741,800
Revenue	$ 300,000	$ 300,000	$ 300,000

Significant Accounting Polici_7

Significant Accounting Policies: Commission Fees (Details) - Commission Fees - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Commission Fees
Capitalized contract costs	$ 500,000	$ 600,000
Expense	$ 102,600	$ 107,200	$ 99,500

Significant Accounting Polici_8

Significant Accounting Policies: Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Earnings Per Share
Denominator for basic EPS - weighted average common shares	3,719,485	3,840,638	3,874,757
Dilutive shares associated with option plans	143,779	259,991	275,022
Denominator for diluted EPS - weighted average common shares and dilutive potential common shares	3,863,264	4,100,629	4,149,779
Options excluded from EPS calculation - anti-dilutive (in shares)	14,822	10,262	21,933

Investment in Leasing Operati_3

Investment in Leasing Operations: Summary of Leasing Operations (Details) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Direct financing and sales-type leases:
Minimum lease payments receivable	$ 12,536,300	$ 26,001,200
Estimated unguaranteed residual value of equipment	2,950,100	4,109,800
Unearned lease income net of initial direct costs deferred	(1,439,500)	(4,039,400)
Security deposits	(2,169,000)	(3,852,000)
Equipment installed on leases not yet commenced	1,634,400	3,437,800
Total investment in direct financing and sales-type leases	13,512,300	25,657,400
Allowance for credit losses	(270,200)	(580,600)
Net investment in direct financing and sales-type leases	13,242,100	25,076,800
Operating leases:
Operating lease assets	599,100	820,700
Less accumulated depreciation and amortization	(580,100)	(591,900)
Net investment in operating leases	19,000	228,800
Total net investment in leasing operations	13,261,100	25,305,600
Net investment in leases - current	8,687,500	12,800,100
Net investment in leases - long-term	$ 4,573,600	$ 12,505,500

Investment in Leasing Operati_4

Investment in Leasing Operations: Risk Concentration (Details) - customer	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Total assets
Investment in leasing operations
Number of customers	0	0

Investment in Leasing Operati_5

Investment in Leasing Operations: Minimum Lease Payments Receivable (Details) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Direct Financing and Sales-Type Leases, Minimum Lease Payments Receivable
2021	$ 9,880,100
2022	2,584,500
2023	71,700
Total	12,536,300	$ 26,001,200
Direct Financing and Sales-Type Leases, Income Amortization
2021	1,286,000
2022	151,400
2023	2,100
Total	$ 1,439,500

Investment in Leasing Operati_6

Investment in Leasing Operations: Credit Losses (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Activity in the allowance for credit losses for leasing operations
Balance at beginning of period	$ 580,600	$ 861,200	$ 711,200
Provisions charged to expense	(79,300)	(78,300)	38,600
Recoveries	(11,800)	21,900	213,500
Deductions for amounts written-off	(219,300)	(224,200)	(102,100)
Balance at end of period	270,200	580,600	$ 861,200
Investment In Leases
Total investment in direct financing and sales-type leases	13,512,300	25,657,400
Allowance for Credit Losses
Total	270,200	580,600
Investment in leases
Investment In Leases
Collectively evaluated for loss potential	13,512,300	25,657,400
Total investment in direct financing and sales-type leases	13,512,300	25,657,400
Allowance for Credit Losses
Collectively evaluated for loss potential	270,200	580,600
Total	$ 270,200	$ 580,600

Investment in Leasing Operati_7

Investment in Leasing Operations: Investment Aging (Details) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Investment in leasing operations
0-60 Days Delinquent and Accruing	$ 13,512,300	$ 25,657,400
Total investment in direct financing and sales-type leases	13,512,300	25,657,400
Middle-Market
Investment in leasing operations
0-60 Days Delinquent and Accruing	13,512,300	24,546,300
Total investment in direct financing and sales-type leases	$ 13,512,300	24,546,300
Small-Ticket
Investment in leasing operations
0-60 Days Delinquent and Accruing		1,111,100
Total investment in direct financing and sales-type leases		$ 1,111,100

Investment in Leasing Operati_8

Investment in Leasing Operations: Leasing Income (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Leasing income
Interest income on direct financing and sales-type leases	$ 3,651,700	$ 7,602,600
Selling profit (loss) at commencement of sales-type leases	2,117,500	2,470,300
Operating lease income	2,346,500	2,525,600
Income on sales of equipment under lease	5,246,000	2,855,400
Other	1,122,300	601,900
Leasing income	$ 14,484,000	$ 16,055,800

Receivables_ (Details)

Receivables: (Details) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Current receivables
Trade	$ 16,700	$ 35,800
Royalty	1,518,000	1,543,100
Other	47,200	90,600
Total current receivables	$ 1,581,900	$ 1,669,500

Shareholders' Equity (Deficit_3

Shareholders' Equity (Deficit): Dividends and Repurchase of Common Stock (Details) - USD ($)	Jan. 16, 2020	Mar. 28, 2019	Feb. 28, 2019	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Repurchase of Common Stock
Aggregate purchase price of shares repurchased				$ 48,987,500	$ 24,028,100	$ 1,846,400
Dividends
Cash dividends declared and paid (in dollars per share)				$ 0.80	$ 0.90	$ 0.56
Aggregate quarterly cash dividends declared and paid, excluding special dividend				$ 3,000,000
Special cash dividend approved by Board of Directors (in dollars per share)				$ 3
Total special dividend in cash				$ 11,300,000
Aggregate quarterly cash dividends declared and paid				$ 14,230,800	$ 3,449,100	$ 2,169,900
2020 Tender Offer
Repurchase of Common Stock
Shares authorized for repurchase per tender offer				300,000
Price per share of common stock per tender offer				$ 163
Number of shares repurchased	300,000
Purchase price of shares per tender offer	$ 49,000,000
2019 Tender Offer
Repurchase of Common Stock
Shares authorized for repurchase per tender offer			150,000
Price per share of common stock per tender offer			$ 159.63
Number of shares repurchased		150,000
Purchase price of shares per tender offer		$ 24,000,000
Common Stock Repurchase Program
Repurchase of Common Stock
Purchase of stock, price per share						$ 149.10
Number of shares repurchased						12,384
Aggregate purchase price of shares repurchased						$ 1,800,000
Number of additional shares that can be repurchased				130,604

Shareholders' Equity (Deficit_4

Shareholders' Equity (Deficit): Stock Options (Details) - shares	12 Months Ended
	Dec. 26, 2020	Apr. 29, 2020	Feb. 24, 2020	Feb. 20, 2011
2020 Plan
Stock Option Plans
Number of shares authorized for issuance		100,000
2020 Plan \| Stock options \| Minimum
Stock Option Plans
Exercise price of stock options as a percentage of fair value on the date of grant	100.00%
Threshold voting rights above which the option exercise price may not be less than 110% of the fair market value (as a percent)	10.00%
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	110.00%
2020 Plan \| Stock options \| Maximum
Stock Option Plans
Term of the option	10 years
2001 Plan
Stock Option Plans
Number of shares authorized for issuance				750,000
2010 Plan
Stock Option Plans
Number of shares authorized for issuance			700,000
Number of shares authorized and unissued under the plan		125,465
Nonemployee Directors Plan
Stock Option Plans
Number of shares authorized for issuance			350,000
Number of shares authorized and unissued under the plan		24,500

Shareholders' Equity (Deficit_5

Shareholders' Equity (Deficit): Stock Options Activity (Details) - Stock options - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Number of Shares
Outstanding at the beginning of the period (in shares)	479,558	639,380	658,184
Granted (in shares)	45,100	54,800	69,000
Exercised (in shares)	(108,170)	(190,172)	(79,241)
Forfeited (in shares)	(23,000)	(24,450)	(8,563)
Outstanding at the end of the period (in shares)	393,488	479,558	639,380	658,184
Exercisable at the end of the period (in shares)	280,908
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 101.78	$ 84.12	$ 72.33
Granted (in dollars per share)	163.87	170.14	149.51
Exercised (in dollars per share)	76.29	57.41	39.37
Forfeited (in dollars per share)	148.16	138.13	119.24
Outstanding at the end of the period (in dollars per share)	113.19	$ 101.78	$ 84.12	$ 72.33
Exercisable at the end of the period (in dollars per share)	$ 94.80
Weighted Average Remaining Contractual Life (years)
Outstanding	5 years 7 months 9 days	5 years 9 months 14 days	5 years 7 months 9 days	5 years 10 months 13 days
Exercisable at the end of the period	4 years 4 months 20 days
Intrinsic Value
Outstanding at the beginning of the period	$ 45,283,200	$ 47,808,100	$ 37,723,800
Outstanding at the end of the period	27,864,900	$ 45,283,200	$ 47,808,100	$ 37,723,800
Exercisable at the end of the period	$ 25,059,600
Weighted average assumptions and results used in estimation of fair value of options granted
Risk free interest rate (as a percent)	0.45%	1.85%	2.73%
Expected life (years)	6 years	6 years	6 years
Expected volatility (as a percent)	25.03%	19.30%	19.94%
Dividend yield (as a percent)	2.33%	1.38%	1.13%
Option fair value (in dollars per share)	$ 28.25	$ 30.96	$ 32.45

Shareholders' Equity (Deficit_6

Shareholders' Equity (Deficit): Additional Information (Details) - Stock options - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Additional disclosures
Total intrinsic value of options exercised	$ 8,400,000	$ 22,700,000	$ 8,300,000
Total fair value of shares vested	$ 9,100,000	$ 8,600,000	$ 7,800,000
Shares of previously owned common stock surrendered as payment for option shares exercised	0	0	2,249
Compensation expense	$ 1,315,200	$ 1,666,400	$ 1,976,100
Total unrecognized compensation expense	$ 3,700,000
Weighted average period for recognition of unrecognized compensation expense	2 years 7 months 6 days

Debt_ Line of Credit (Details)

Debt: Line of Credit (Details) - CIBC Bank USA and BMO Harris Bank N.A. $ in Millions	12 Months Ended
	Dec. 26, 2020USD ($)item	Dec. 28, 2019USD ($)
One month LIBOR
Line of Credit
Variable rate basis	one month LIBOR
Two month LIBOR
Line of Credit
Variable rate basis	two month LIBOR
Three month LIBOR
Line of Credit
Variable rate basis	three month LIBOR
Six month LIBOR
Line of Credit
Variable rate basis	six month LIBOR
Twelve month LIBOR
Line of Credit
Variable rate basis	twelve month LIBOR
Line of Credit
Line of Credit
Aggregate commitments	$ 40	$ 25
Maximum amount of additional term notes available for issuance	25
Borrowings outstanding	0
Line of credit available for additional borrowings	$ 25
Number of interest rate options \| item	2
Non-utilization fees (as a percent)	0.25%
Line of Credit \| Base Rate
Line of Credit
Variable rate basis	Base Rate
Applicable margin (as a percent)	0.00%
Line of Credit \| LIBOR
Line of Credit
Variable rate basis	LIBOR
Applicable margin (as a percent)	2.00%

Debt_ Notes Payable (Details)

Debt: Notes Payable (Details) - Prudential Investment Management, Inc - USD ($)	12 Months Ended
	Dec. 26, 2020	May 31, 2015
Notes Payable
Notes Payable
Minimum prepayment	$ 1,000,000
Series A Notes
Notes Payable
Principal amount outstanding	$ 13,500,000
Note payable, face amount		$ 25,000,000
Term of notes payable	10 years
Interest rate (as a percent)	5.50%
Quarterly principal payment, first five years	$ 500,000
Quarterly principal payment, thereafter	750,000
Series B Notes
Notes Payable
Principal amount outstanding	8,400,000
Note payable, face amount	$ 12,500,000
Term of notes payable	10 years
Interest rate (as a percent)	5.10%
Quarterly principal payment	$ 312,500

Debt_ Maturities (Details)

Debt: Maturities (Details)	Dec. 26, 2020USD ($)
Required prepayments of the notes payable for each of the next five years and thereafter
2021	$ 4,250,000
2022	4,250,000
2023	4,250,000
2024	4,250,000
2025	2,750,000
Thereafter	2,187,500
Total	$ 21,937,500

Accrued Liabilities_ (Details)

Accrued Liabilities: (Details) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Accrued Liabilities
Accrued compensation and benefits	$ 1,051,800	$ 887,900
Rent related liabilities	437,400	388,500
Accrued interest	157,200	210,800
Accrued purchases of goods and services	97,800	186,200
Other	879,800	1,109,700
Accrued liabilities	$ 2,624,000	$ 2,783,100

Discounted Lease Rentals_ (Deta

Discounted Lease Rentals: (Details) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Discounted Lease Rentals
Discounted lease rentals, current	$ 1,096,600	$ 2,680,700
Discounted lease rentals	$ 1,700,000	$ 3,500,000
Secured Debt.
Discounted Lease Rentals
Weighted average interest rate on a non-recourse basis (as a percent)	6.05%

Contract Liabilities_ Activity

Contract Liabilities: Activity (Details) - USD ($)	12 Months Ended
Contract Liabilities: Activity (Details) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Activity of the current and noncurrent deferred franchise revenue
Balance at beginning of period	$ 9,575,500	$ 10,177,300
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period	860,100	1,203,500
Fees earned that were included in the balance at the beginning of the period	(1,727,300)	(1,805,300)
Balance at end of period	$ 8,708,300	$ 9,575,500

Contract Liabilities_ Performan

Contract Liabilities: Performance Obligations (Details)	Dec. 26, 2020USD ($)
Future estimated revenue to be recognized related to performance obligations
Revenue, remaining performance obligation	$ 8,708,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-27
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	$ 1,657,400
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-26
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	$ 1,512,500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Future estimated revenue to be recognized related to performance obligations
Duration of expected recognition period for remaining performance obligation	1 year
Revenue, remaining performance obligation	$ 1,341,200
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-31
Future estimated revenue to be recognized related to performance obligations
Duration of expected recognition period for remaining performance obligation	1 year
Revenue, remaining performance obligation	$ 1,143,500
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	$ 927,100
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
Revenue, remaining performance obligation	$ 2,126,600

Operating Leases_ Summary (Deta

Operating Leases: Summary (Details)	12 Months Ended
Operating Leases: Summary (Details)	Dec. 26, 2020USD ($)item	Dec. 28, 2019USD ($)	Dec. 29, 2018USD ($)
Operating Leases
Remaining lease term	9 years
Discount rate (as a percent)	5.50%
Rent expense \| $	$ 1,195,000	$ 1,358,000	$ 1,235,000
Corporate headquarters, Minnesota
Operating Leases
Lease renewal option	true
Number of lease extension periods \| item	2
Lease renewal term	5 years

Operating Leases_ Maturities an

Operating Leases: Maturities and other (Details) - USD ($)	12 Months Ended
Operating Leases: Maturities and other (Details) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Maturities of operating lease liabilities:
2021	$ 723,100
2022	742,900
2023	763,300
2024	784,400
2024	806,000
Thereafter	3,452,600
Total	7,272,300
Less imputed interest	(1,546,500)
Present value of lease liabilities	5,725,800
Operating lease liability
Operating lease liability, current	$ 400,000
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current
Other disclosures
Tenant allowance recorded during the year as a reduction to the operating lease right of use asset	$ 2,100,000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow outflow from operating leases	$ 703,700	$ 493,900

Income Taxes_ Reconciliation, C

Income Taxes: Reconciliation, Components and Deferred Taxes (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Income Taxes:
Federal statutory tax rate (as a percent)	21.00%	21.00%	21.00%
Reconciliation of the expected federal income tax expense based on the federal statutory tax rate to the actual income tax expense
Federal income tax expense at statutory rate (21%, 21%, 35%)	$ 8,088,600	$ 8,708,200	$ 8,249,400
Change in valuation allowance	54,000	147,900	(13,800)
State and local income taxes, net of federal benefit	1,368,500	1,310,800	1,334,100
Permanent differences, including stock option expenses	(1,027,300)	(1,056,800)	(355,500)
Adjustment to uncertain tax positions	85,100	(58,500)	4,500
Other, net	125,200	266,500	(61,100)
Total provision for income taxes	8,694,100	9,318,100	9,157,600
Current provision for income taxes:
Federal	7,836,000	9,076,400	6,355,800
State	1,795,800	1,693,800	1,551,000
Foreign	286,000	363,200	423,000
Current provision	9,917,800	11,133,400	8,329,800
Deferred provision for income taxes:
Federal	(1,202,100)	(1,834,800)	967,300
State	(21,600)	19,500	(139,500)
Deferred provision	(1,223,700)	(1,815,300)	827,800
Total provision for income taxes	8,694,100	9,318,100	$ 9,157,600
Deferred tax assets:
Accounts receivable and lease reserves	66,600	154,700
Non-qualified stock option expense	1,581,900	1,758,100
Deferred revenue	1,885,400	1,957,500
Trademarks	36,100	34,500
Lease deposits	532,600	930,700
Loss from and impairment of equity and note investments	2,637,600	2,595,500
Foreign tax credits	185,000	173,100
Valuation allowance	(2,822,600)	(2,768,600)
Other	204,600	194,400
Total deferred tax assets	4,307,200	5,029,900
Deferred tax liabilities:
Lease revenue and initial direct costs	(2,330,700)	(4,207,400)
Depreciation and amortization	(85,800)	(155,500)
Total deferred tax liabilities	(2,416,500)	(4,362,900)
Total net deferred tax liabilities	$ 1,890,700	$ 667,000

Income Taxes_ Other (Details)

Income Taxes: Other (Details) - USD ($)	12 Months Ended
Income Taxes: Other (Details) - USD ($)	Dec. 26, 2020	Dec. 28, 2019
Deferred tax assets, valuation allowance
Valuation allowance	$ 2,822,600	$ 2,768,600
Unrecognized Tax Benefits
Unrecognized tax benefits, including interest and penalties	621,100	532,500
Interest and penalties accrued related to unrecognized tax benefit	111,000	33,500
Activity related to the company's unrecognized tax benefits
Balance at the beginning of the period	499,000	551,300
Increases related to current year tax positions	144,500	131,900
Subtractions for tax positions of prior years	(133,400)
Expiration of the statute of limitations for the assessment of taxes		(184,200)
Balance at the end of the period	$ 510,100	$ 499,000
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. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Employee Benefit Plan
Service period for vesting of employer contribution	5 years
Company contributions	$ 324,000	$ 343,500	$ 361,400

Segment Reporting_ (Details)

Segment Reporting: (Details)	12 Months Ended
Segment Reporting: (Details)	Dec. 26, 2020USD ($)item	Dec. 28, 2019USD ($)	Dec. 29, 2018USD ($)
Segment Reporting
Number of reportable business segments \| item	2
Total revenue	$ 66,061,800	$ 73,298,900	$ 72,511,100
Total operating income	40,211,500	43,131,100	41,763,800
Total depreciation and amortization	484,700	400,100	314,100
Total identifiable assets	31,343,200	61,842,200
Franchising \| Canadian operations
Segment Reporting
Total revenue	4,000,000	4,700,000	4,400,000
Operating \| Franchising
Segment Reporting
Total revenue	51,577,800	57,243,100	54,334,600
Total operating income	31,880,200	35,169,900	31,882,200
Total depreciation and amortization	285,300	281,600	240,500
Total identifiable assets	4,848,300	3,736,000
Operating \| Leasing
Segment Reporting
Total revenue	14,484,000	16,055,800	18,176,500
Total operating income	8,331,300	7,961,200	9,881,600
Total depreciation and amortization	199,400	118,500	$ 73,600
Total identifiable assets	14,462,600	26,596,700
Unallocated
Segment Reporting
Total identifiable assets	$ 12,032,300	$ 31,509,500