-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KH3xsfGPG9F5QOs9GTEfGURYBYRuwkzSTi/Uzrdjs/pA1drKiDJEdnva6V5mFKRc
 ue6HhldreevJpaDsOkkVqw==

<SEC-DOCUMENT>0001179110-04-000930.txt : 20040112
<SEC-HEADER>0001179110-04-000930.hdr.sgml : 20040112
<ACCEPTANCE-DATETIME>20040112144453
ACCESSION NUMBER:		0001179110-04-000930
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040112
FILED AS OF DATE:		20040112

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WINMARK CORP
		CENTRAL INDEX KEY:			0000908315
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS RETAIL [5900]
		IRS NUMBER:				411622691
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1226

	BUSINESS ADDRESS:	
		STREET 1:		4200 DAHLBERG DRIVE
		CITY:			GOLDEN VALLEY
		STATE:			MN
		ZIP:			55422-4837
		BUSINESS PHONE:		6125208500

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GROW BIZ INTERNATIONAL INC
		DATE OF NAME CHANGE:	19930629

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MORGAN JOHN L
		CENTRAL INDEX KEY:			0000900704

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22012
		FILM NUMBER:		04520449

	BUSINESS ADDRESS:	
		STREET 1:		C/O GROW BIZ INTERNATIONAL, INC.
		STREET 2:		4200 DAHLBERG DRIVE
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55422-4817
		BUSINESS PHONE:		6128299331

	MAIL ADDRESS:	
		STREET 1:		C/O GROW BIZ INTERNATIONAL, INC
		STREET 2:		4200 DAHLBERG DRIVE
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55422-4837
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2004-01-12</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000908315</issuerCik>
        <issuerName>WINMARK CORP</issuerName>
        <issuerTradingSymbol>WINA</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000900704</rptOwnerCik>
            <rptOwnerName>MORGAN JOHN L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4200 DAHLBERG DRIVE SUITE 100</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GOLDEN VALLEY</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55422</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>1</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Chairman &amp; CEO</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2004-01-12</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>P</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>2000</value>
</transactionShares>
<transactionPricePerShare><value>20.</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>798800</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeHolding><securityTitle><value>Common Stock</value>
</securityTitle>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>420000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>By Rush River Group LLC</value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeHolding>
<nonDerivativeHolding><securityTitle><value>Common Stock</value>
</securityTitle>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>20000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>By Spouse</value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeHolding>
</nonDerivativeTable>
<derivativeTable><derivativeHolding><securityTitle><value>Employee Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>5</value>
</conversionOrExercisePrice>
<exerciseDate><value>2001-03-22</value>
<footnoteId id="F1"></footnoteId>
</exerciseDate>
<expirationDate><value>2006-03-22</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>600000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>360000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
</derivativeTable>
<footnotes><footnote id="F1">20% per year for five years.</footnote>
</footnotes>
<ownerSignature><signatureName>/s/        John L. Morgan</signatureName>
<signatureDate>2004-01-12</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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