This is Seed – we are not a normal golf company.
Our sole purpose is to make incredible, great value-for-money golf products and share them with golfers all over the world.
We started Seed to help more people enjoy the game we love as much as we do.
What does that mean? No marketing hype, no crazy claims and no celebrity endorsements.
Any reviews of our gear you’ll find are genuine and unsolicited. They’re not paid ads, they’re
actual feedback from other golfers. Anytime you see our logo on something, it’s because of
mutual respect and shared love of the game. What you can expect from Seed are products that perform extremely well, at a price that makes golf more fun for more players. And really, that’s what Seed is all about.
Affordable Tour Performance. Delivered.
Same performance. Half the price.
What’s our impact?
Golf is changing. Rounds played are on the rise and it’s Millennials, Women and Juniors1 driving the growth. This isn’t just your grandfather’s golf game anymore. Your grandfather before you may have lived and breathed golf, and so do we. This is what defines us. Our obsession with learning and developing means that we never compromise. If it’s not awesome, we don’t do it. Ever. We break the mould, and we want our customers to break it with us. Be ambitious and adventurous, take risks and be relentless.
What’s the problem anyway?
Golf is a notoriously conservative, heavily regulated industry, bound by tradition and slow to adapt to change. The incumbent brands selling golf balls and gear reflect their industry, and their combination of traditional marketing, long value chains and over-hyped performance claims keep prices high. Everyday golfers have two options – pay through the nose for top-range balls and quality gear, or hurt their game with cheaper products that sacrifice design, quality or performance for price.
What we do:
We were born to revolutionize the golf industry and fundamentally change the way people purchase golf equipment. We are on a mission to make golf more accessible, more affordable and more enjoyable for more people. We started with golf balls, and we keep it simple. Choose one of our high performance ball models and how often you’d like them delivered. You only get charged when the balls ship, and you can change or cancel your subscription at any time. No penalties, no hidden fees.
What’s the opportunity?
Why’d we start with balls? Because we’re all going to lose a few balls out there, but should we have to second guess a shot, or hold back because we’re thinking about how much we paid for
that ball? Hell no. But we also don’t want to give up performance just to save a few bucks.
The thing is balls are the most regulated piece of equipment in golf: size, weight, shape, ball speed, spin rates, initial velocity and total distance – they’re all regulated by the USGA
and R&A. Ball design is now more evolution than revolution. That creates a level playing
field, which creates an opportunity. That, combined with e-commerce, is what
lets us deliver a stand-out product at an outstanding price. Balls are our Trojan Horse, providing us with the base to expand our product line.
In the golf industry, balls are the #1 product sold online with 61 millions golfers driving sales of more than $2 billion per year. Our initial total addressable market (‘TAM’) amounts to sales of 2.6 million dozen balls per year. Our 2022 target is to achieve XX% of this market through selling YY dozen balls resulting in ZZ in revenue. Beyond the balls, our target is to sell XX worth of non-ball products by 2022.
How are we doing with sales?
We went to market in 2017, and just 18 months later, with four ball designs and customers in 23 countries, we’re breaking into new markets like a bull in a china shop. Monetizing our brand means we’ll realize our vision of making our SD-01 model the best selling tour golf ball under $30. But what have we done so far?
- 3,500 dozen balls sold in our first 18 months (and counting!)
- Sales up from €34K in 2017 to €198K in 2018
- 41% conversion rate (visits to Seedgolf.com resulting in a sale)
- 75% of our customers are finding us through organic search or social media – a testament to the brand we’ve built online and on the links.
Our brand is our most powerful weapon in our arsenal to change the game. This is more than just our identity, it defines our purpose, our products, our values, who we are and why we are here. People don’t just care about our balls or our clever PR, they buy into our brand and our story. Ultimately, this is shaped by our customers and their perception of us… and why we will always stick to our mission.
What else have we done?
But are the balls any good? Yeah. Actually, they’re great. Our balls have been developed in Ireland at our base at the Institute of Technology Carlow, and in conjunction with two of the world’s largest golf ball manufacturing companies. We’ve designed our balls to max-out performance right up to the edge of USGA/R&A performance limits, so they perform as well as any ball out there. During the development period, the balls were tested with a robotic swing machine, as well over 800 regular golfers. Robots provided the infallible side-by-side comparison, and real golfers provided, well, a real world comparison. The results? See for yourself:
There are a bunch of independent online reviews already out there that tell the same story. We’re quickly building a community of avid users who not only love the performance of our balls but really, really love why we’re doing what we do. Here’s just one of the independent reviews from Peter Finch.
But enough about the balls – for now. What else have we done? We’ve raised €175,000 from investors to date, built a team of eight people including part-timers and consultants, planned out our US market launch for 2019 and found our path for expanding to gloves, golf wear, and bags. Our every move is guided by our vision to develop the best value-for-money golf products in the world.
How do we make money?
It’s really simple. First, you need to choose one of our high performance ball models. Next, you select how often you’d like them delivered (every month, every second month, once a year… it’s entirely up to you). We then ship you balls by the dozen for a ridiculously affordable price, when you’ve requested them (you’re only charged when balls are shipped). One dozen balls ship automatically at your requested time/s, at our lowest possible price (€10 or €25 + shipping). You can change your ball model, change your frequency or even cancel your membership anytime with a few clicks. No penalties. No hidden fees.
How do we make such high quality gear and sell it at such a low price? First, we are obsessed with learning and developing, and yes, we are tech nerds. We stay true to our vision through focused and innovative design and by partnering with those with similar mindsets in lean manufacturing. Second, we shorten the time between your gear leaving the factory and arriving at your door by cutting out the middlemen and selling direct online. Finally, we skip the over-inflated sales hype and paid ads that feel like big-budget movie trailers.
What’s the ask and how are you going to spend it?
With this round, we’re raising €250K at a €2.5mn valuation, so 10% of our equity is up for grabs. Once we close the round, we’ll spend it with the below breakdown.
- X% on soup
- Y% on nuts
- Z% on everything in between.
- Sales – We expect a big jump in business for 2019. Sales are budgeted to double in the direct channel, as we dive into digital marketing activities and expand our team.
- Core marketing – Independent impartial reviews work! Each review sees a sharp spike in traffic and orders, but also brand acceptance and overall awareness. We will continue to leverage our relationships and grow exposure in these mediums (YouTube, Social Media).
- Brexit – We’re planning to address any customs challenges with a potential UK based distribution facility (3rd Party). Shipping charges will reduce though fulfilment costs will increase, making, most likely, a cost neutral exercise.
- EU expansion – We’re targeting Summer 2019 for launching in the main EU markets of Germany, Denmark, Sweden and The Netherlands. If Europe-wide participation grew to the Swedish level of 5%, we’d see a growth of EU golfers from 4.3 million to 20 million players. That’s massive growth for Seed to address, and we’re well-placed to do so.
- US expansion – Nearly 20% of our web traffic originates in North America, and
the US continues to lead the industry overall with 8-10% participation. We’re well advanced with the legwork on distribution partnerships and marketing opportunities.
Welcome to your new favourite golf brand. If it looks different, and sounds different, it’s probably different. Seed are a new golf company started by golfers who love golf. Golfers’ enjoyment is at the heart of everything we do.
1 – https://www.forbes.com/sites/darrenheitner/2016/05/08/the-state-of-the-golf-industry-in-2016/#44a7e3df33a6
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|Anonymous||€12.30||February 27, 2019|