Tony Newsome is an insurance agent in Western NC, with Bankers Insurance. He is a part owner of Bacrobial, a company that has developed and is setting up distribution for all natural anti bacterial topical ointments.
Karol Farlow Cohort Interview by Robert A. Hicks
I had the pleasure of interviewing fellow Cohort Karol Farlow in September 2010.
Randy Morgan Owner of Randy’s Custom Golf Interviewed by Rick Childress
Randy Morgan is the third generation of his family to work in the golf industry. His grandfather was a golf course superintendent; his mother was a caddie, and Randy has worked in the golf industry his entire working life. He started as a cart boy at a golf course in Tryon and later worked in the pro shop for several years. Randy later worked in the pro shop at Silver Creek Plantation, in Morganton, for 14 years.
Randy is one of the few entrepreneurs who started his own business to spend more time with his family. Even though golf is Randy’s passion, the downside of working at a golf course is long hours, especially on weekends. He decided to open his own golf shop two years ago, in downtown Morganton, partly to free up Sundays for his family. Randy missed being able to attend church with his family but since opening his business he has become a deacon in his church which would not have been possible while working for a golf course.
Randy selected downtown Morganton as the location for his store for several reasons. He liked the store size and rent when compared to similar properties. The amount of traffic in this location was also to Randy’s liking. Across the street from the store is a popular local restaurant that is frequented by local golfers during their lunch hour. Randy has noticed golfers looking out of the restaurant while eating and then visiting the store after lunch. Randy would ideally like to be located at a driving range facility but there were no such facilities available. To save money Randy did most of the work to remodel the building prior to opening himself. The only work that he paid for was to build a putting green in the front of his store.
Randy’s Custom Golf carries new and used golf equipment for golfers of all skill levels from the new golfer to professionals. Randy can also customize the equipment he sells to match the physical stature and swing characteristics of the golfer. He uses technology including a launch monitor to analyze the golf swing so that the golf club can be modified to match the golfer. Randy has ordered a golf simulator which will allow customers see a projected image of a golf course and play a round of golf by hitting real balls into a screen with their own clubs. The computer will project the results of the shot based on the way the ball was struck. The result is a fairly accurate depiction of what the shot result would have been in actual play. Randy hopes the simulator will draw golfers into the store this winter, providing revenue from the game itself as well as equipment sales.
Randy’s equipment sales have received a boost from the recent addition of Taylormade golf clubs. Taylormade is one of the most popular brands of clubs so becoming a dealer has been a positive development for Randy, resulting in a 300 percent increase in equipment sales. He has scheduled a demo day with the Taylormade rep at a local driving range. He has advertised the demo day in the local newspaper as well as on the local radio station. He is hopeful that the demo day will be well attended and result in equipment sales as well as publicity for his store.
Randy uses a variety of advertising and promotions, such as demo day. One of his most successful forms of advertising is through facebook. He also believes that the magnetized signage on his truck has resulted in a number of phone calls and new customers. Since he worked at Silver Creek, a local golf course, for 14 years Randy was well known to local golfers when the business first opened which helped with word-of-mouth. Randy is also the only local shop that provides full service club repair. When the store first opened two years ago club repairs accounted for about half of revenues. As equipment sales have increased this ratio has dropped to about twenty-five percent of revenue. Repairs will continue to be an important source of revenue and to maintain repeat business. Golf club grips, for example must be replaced once a year, on average, and more often depending on the frequency of play or practice. Golfers also are notorious for changing clubs often to improve play so when they come in for repairs or grip replacement they will often purchase a new club.
Randy would like to increase the number of club brands that he offers and to see the continued growth that he has experienced his first two years. One of the biggest surprises in his first two years of operation has been the dramatic increase in sales during his second year. He was expecting a slower, more steady rate of growth, especially during the first three years of operation.
When asked what advice he would give to new entrepreneurs Randy replied, “Do what you love to do. I love golf and I have always worked in the golf industry so this is what I’m naturally going to be happy doing. I would not be happy working in a factory or doing a trade or occupation that I know nothing about. Working for myself allows me to have control over my time so I love what I’ve been able to do.”