In 2001, the company hit $2 million in sales, still running primarily on used golf balls. About that time, eBay hit its critical mass, doubling and then quadrupling its sales. “The guys who were selling the pond balls hadn’t quite figured out how to sell directly on the Internet, but eBay made it so they didn’t have to figure it out,” he said. Cox reminded the audience of the then-popular term “disintermediation,” or cutting out the middle man. He said golfballs.com wanted to build a direct relationship with manufacturers, but in order to build that relationship, it had to phase out used balls and focus more on customization and personalization. “We knew customization was where everything was going, so it was a relatively conservative bet.”
In 2004 the company moved from New Iberia to Lafayette and opened a retail store, by then doing about $5 million in annual revenue. Since then, revenue has tripled and staff has doubled, according to Cox, with the staff of 50 swelling to about 65 during peak times. Today golfballs.com prints 1,200 dozen balls a day, six days a week, and sells all major brands of golf equipment. Sixty percent of its business is direct to consumer, with the other 40 percent in corporate and custom logos. Much of the custom products are sold through loyaltylogo.com, a companion business started in 2009 to leverage golfballs.com’s existing customer relationships. “We found out that as a golf company you can’t credibly sell huggies, you can’t credibly sell pens and pencils and those other kinds of [non-golf] items,” Cox said. “As a promotional products company, that’s related to golfballs.com, it is very easy to do that and be credible.”
Cox noted that it’s essential for a rapidly growing company to have a business plan that’s flexible and can easily adjust to changes in the marketplace. “Your business plan only works the day you write it,” he said. “It’s not a plan, it’s an evolving document that continues to move.”
One member of the audience wanted to know how the company stays on track. “We’re neurotic and analyze everything. The belly putter thing, we knew was coming, because three weeks in a row the PGA tournaments were won by guys using belly putters and the manufacturer ran out of them. Clay Judice, here in Lafayette, invented something that turned any putter into a belly putter. You watch numbers and the environment you’re in. Every day we start with a 15-minute meeting with the directors of the company.”
Abshire has rejoined the Lafayette Bar Association, where she previously served as marketing coordinator under longtime Executive Director Susan Holliday
Home-grown Baton Rouge market/deli heads to Lafayette.
Deadline for submitting noms for annual competition is March 15
Whitney Bank officials have confirmed that the downtown branch will cease to exist when it relocates its regional headquarters to River Ranch at the end of May.
Downtown Lafayette restaurant launches new concept near Le Triomphe
Reamco founders Brent Milam and Ashley Lane now shareholders in acquiring company and part of its management team.
The board hopes to recover all fees paid, plus one-half, along with what could amount to hundreds of thousands in additional penalties.
Oh, the irony... or something like that.
The Louisiana Workforce Commission said Friday that initial claims rose to 2,125 from the previous week's total of 1,964. There were 2,887 initial claims during the comparable week in 2013.
Oilfield service company’s year-over-year revenues climbed 3.7 percent.
Move is part of company-wide consolidation of residential call centers.
Contentious deposition renders LOGA chief too ill to testify. Here's why.
Proposal for the upcoming legislative session would set Louisiana’s minimum wage at $10 per hour, beginning in 2015, up from the federal rate of $7.25 per hour.
Patrick Kane II recalls his mother awakening him 50 years ago to say his dad’s plane was missing.
His health affected by a contentious deposition last week, the LOGA chief says he can't testify (court will reconvene March 10).
Chair of the energy committee, Mary Landrieu (discussing the urgency of Keystone with Canadian Foreign Minister John Baird) should get the respect she deserves in Louisiana.
A fundraiser co-chaired by former U.S. attorneys from both sides of the political aisle could signal the end of Mike Harson’s long grip on the D.A.’s office.
Former W. Home Furnishings owner Rene Ward faces seven years in prison.
Stuller’s Danny Clark focuses on satisfied customers and effective employees as he settles in as the company’s president/COO.
Sterling Ford-Lincoln of Opelousas ribbon cutting and the State of the Parish address
Increases in higher-end home sales say a lot about the health of the overall market.
Who joined whom or got promoted?
World-class athlete riding high in custom bike biz.
Setting the record straight on that February story in HuffPo
Liability waivers — what you need to know before you sign