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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,
 PQgAMoOdp6xB7R3/049tlnIck1/+5EW2ZnBzlaMClf2ot7MFGXerwglB8snt8UEH
 GKy79a1UOUDNtij20eE3qw==

<SEC-DOCUMENT>0001179110-03-012860.txt : 20031217
<SEC-HEADER>0001179110-03-012860.hdr.sgml : 20031217
<ACCEPTANCE-DATETIME>20031217152310
ACCESSION NUMBER:		0001179110-03-012860
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031216
FILED AS OF DATE:		20031217

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HEFFES BRETT D
		CENTRAL INDEX KEY:			0001237904

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22012
		FILM NUMBER:		031059983

	BUSINESS ADDRESS:	
		STREET 1:		WINMARK CORP.
		STREET 2:		4200 DAHLBERG DRIVE
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55422

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-12-16</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000908315</issuerCik>
        <issuerName>WINMARK CORP</issuerName>
        <issuerTradingSymbol>WINA</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001237904</rptOwnerCik>
            <rptOwnerName>HEFFES BRETT D</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>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>CFO &amp; Treasurer</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeHolding><securityTitle><value>Common Stock</value>
</securityTitle>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>1000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeHolding>
</nonDerivativeTable>
<derivativeTable><derivativeHolding><securityTitle><value>Employee Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>9.91</value>
</conversionOrExercisePrice>
<exerciseDate><value>2003-11-04</value>
<footnoteId id="F1"></footnoteId>
</exerciseDate>
<expirationDate><value>2012-11-04</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>common stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>30000.</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>30000.</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
<derivativeHolding><securityTitle><value>Employee Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>10.</value>
</conversionOrExercisePrice>
<exerciseDate><value>2003-12-18</value>
<footnoteId id="F1"></footnoteId>
</exerciseDate>
<expirationDate><value>2012-12-18</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>common stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>15000.</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>15000.</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
<derivativeTransaction><securityTitle><value>Eomployee Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>18.25</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-12-16</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>15000.</value>
</transactionShares>
<transactionPricePerShare><value>0</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2004-12-16</value>
<footnoteId id="F1"></footnoteId>
</exerciseDate>
<expirationDate><value>2013-12-16</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>common stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>15000.</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>15000.</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes><footnote id="F1">25% per year for four years.</footnote>
</footnotes>
<ownerSignature><signatureName>Brett D. Heffes</signatureName>
<signatureDate>2003-12-17</signatureDate>
</ownerSignature>
</ownershipDocument>

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