About Us
HEIRLOOM SPORTING GOODS, INC.
History
Heirloom Sporting Goods was started 15 years ago by Ralph Watson in Mobile, AL. Ralph graduated from Springhill College with a degree in Management. While attending Springhill College, Ralph worked part time at a Higgins Sporting Goods store. After graduation, Ralph accepted a management position in another industry. During this time, he diligently saved money in order to fulfill his lifelong dream of owning his own sporting goods store.
After 10 years, Ralph finally had the available funds to begin pursuing his dream. He analyzed different his options, and he came to the conclusion that it made the most sense to buy into a sporting goods franchise because this gave him the backing of experienced people in the business. Ralph went to classes sponsored by the Franchisee, rented space in the local Mall, and hired 2 college students part time to help him with sales. During the second year Ralph hired a store manager, 7 full time sales people and 7 part time sales people. In the third year Ralph had outgrown his store space and moved within the same mall to larger location. Ralph decided to build out this space himself and added sports paraphernalia to the design of the store. After 15 years Ralph has 4 stores in different Malls in the city.
Company’s mission
To provide quality merchandise to
sell to the public, specializing in unique as well as every day sports items for
sale.
Company Overview
Heirloom Sporting Goods primarily
sells professional, college, and high school products. Heirloom also sells
unique items such as autographed balls, autographed cards, and High School
Letter Jackets. Only one- fourth of their sales comes from these unique items,
but these items do attract customers into the store. The company started with 1
owner/manager and 2 part time salesmen at one location. Currently they have one
owner, one bookkeeper, 4 store managers, 30 full time sales associates and 30
part time sales associates.
Heirloom Sporting Goods is located in 4 different malls. Ralph and the store managers each have a fixed salary and a bonus based on sales. The Bookkeeper is paid $30,000 per year; the full time sales associates are paid a fixed income and a percentage of their sales. The part time sales associates are paid $7.50 per hour.
Technology
Heirloom Sporting Goods uses an enterprise wide software application created specifically for the retail industry. The application is provided by the Franchise and runs Accounts Payable, Account Receivable, Payroll, and Inventory Control. Ralph does all the ordering. All sales information is input at the time of sale through the cash register. Daily reports are run from the system which Ralph analyzes to track sales for the day and to help decide which inventory needs to be restocked. The software maintains history, so Ralph can compare prior sales and ordering history to current sales and ordering. Heirloom also utilizes a CRM (customer relationship manager). This system helps us better understand what our customers are looking for and expecting from us and also what we can do to better accommodate the customer.
Facilities
Ralph Watson is renting retail space
in 4 different malls. He has customized the build out in each of these spaces to
enhance the Sporting theme in each store. Ralph Watson has TV’s in every store
playing different sports events. He also has a basketball court drawn on the
floor and hoops on the walls. Ralph has an office built above the first store he
opened that he uses for meetings and other administrative functions.
Marketing
Heirloom Sporting Goods had a great
deal of exposure from the location in the Mall. They also sponsor high school
teams, and advertise in the Yellow Pages. However, their best advertising comes
from word of mouth. They sell quality merchandise, and have a flexible return
policy. Ralph also provides custom orders for anyone requesting something he
does not carry.
Competition
There are two major competitors for Heirloom, Dick's Sporting Goods and Sports Authority. These two hold a nearly equal hold of the market share with Heirloom Sporting Goods only separated by five percentage points between the top, Sports Authority, and third, Heirloom Sporting Goods.
Gaining an Advantage in the Industry
Heirloom plans to gain an advantage by using the competitive advantage within the industry to sway the market towards our company. We already have a competitive market share and with the implementation of the online site we are expecting to soar past our competitors and take a firm grasp on the market.
Assets
Computers, desks, computer software, inventory, cash
registers, and all items used in build out of stores.