ShapeShifter

How I founded SA’s largest golf retailer (and how I sold 70% of it for R300m)

The Money Show's Bruce Whitfield interviewed Rhys Hughes for his weekly "ShapeShifter" feature.

Hughes co-founded MoreCorp, South Africa's largest golf-equipment retailer, in 1976.

Old Mutual Private Equity recently bought 70% of MoreCorp for R300 million.

MoreCorp owns The Pro Shop, World of Golf and Playmoregolf.

Scroll down for quotes from the audio below.

I didn’t want to be the old guy saying ‘no’ to every new idea!

Rhys Hughes

We set our prices against those in America.

Rhys Hughes

Our prices are almost the same as in 2007.

Rhys Hughes

We started in a tiny store in Commissioner Street.

Rhys Hughes

People want to speak to a salesperson. They want to touch and feel the product.

Rhys Hughes

We started out wanting to sell one set of golf clubs per day!

Rhys Hughes

Our customers have a lot of disposable income. Your stores need to be rich. You need to give those people the experience they’re looking for.

Rhys Hughes

The biggest issue today is time. People are time poor.

Rhys Hughes

The investors won’t change the business. They leave the nuts and bolts to us.

Rhys Hughes

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Article brought to us by Old Mutual.


This article first appeared on 702 : How I founded SA’s largest golf retailer (and how I sold 70% of it for R300m)


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