People who have been reading the blog for a while know my feelings towards Golfsmith. I called it the saddest place in Dallas. It was always over priced and way over staffed. I didnt think it was going to survive. Little did I know how right I was. A few weeks ago the company filed for bankruptcy. Stores are slowly starting to liquidate some of their assets
What went wrong?
Thats the million dollar questions isnt it? Honestly all I can do is speculate. The biggest thing in my mind is the sheer size of the stores. Every Golfsmith I went to was MASSIVE. The stores didnt need to be that big. The rent at those locations had to be astronomical. When you are paying a ton of money to just be open its got to hurt the bottom line. Next up is the amount of inventory they had. When you have that large of a building you need to stock it full of inventory. This meant buying large loads of clubs,useless accessories, and bad used clubs. All of that costs lots of money. I have spent a ton of money and I havent even opened or staffed my store. Add in the cost of the staff and you need to sell a ton of golf clubs to even break even.
The Shopping Experience
As I have said on the blog before the “Golfsmith Experience” is not something they should be proud of. For a store that took up so much space it always felt crowded. There were displays everywhere. From club displays to training aid displays. It was madness. At every store I went to the employees seemed upset. It was never very friendly. Every time I went up to an employee they always seemed very annoyed I would even be bothering them. It was always way over staffed yet getting help was a struggle. Dont even get me started on the prices at Golfsmith. Im going to focus mostly on used clubs because I have a decent amount of experience in that area. I have walked into Golfsmith and seen 5 year old iron sets still selling for $500+ dollars. I have literally been standing in a store looking at the exact same clubs on ebay for $200 cheaper. It was absurd. I went into one about a week ago to check out some sales they were having and I saw a Bridgestone J40 Driver with a 6.0 Project X shaft for $285 according to the PGA Value guide it should sell for $101. Thats absurd. Trade in value is $53 . That wont sell. Instead of trying to sell it for something they would rather have it sitting there making no money. The stubbornness of Golfsmith I believe led to its downfall. It took great names like Macgregor and Snake Eyes and turned them into jokes. Their website is one of the worst in the golf business. They were one of the best component names in the world. The moved away from that and it was a big down fall from there. Its a shame for the folks losing their jobs but I guess thats how it goes