PSE Archery sold to Heritage Outdoor Group
ฝัง
- เผยแพร่เมื่อ 16 ก.พ. 2023
- I discuss the sale of PSE Archery, my research into the Heritage Outdoor Group and the CEO Zack Gleeson.
I discuss archery brands which have been sold before and what Zack Gleeson hopes to bring to PSE Archery. - กีฬา
Thanks for the update. As far as I'm concerned, YOU have been the best marketing tool for PSE. Your reviews and advice have lead me to purchase multiple PSE bows for myself and for me to train others for free to get into archery without a huge expense prior to them seeing if the like it. I'm also from the home town of the original Martin factory (Walla Walla). It was somewhat sad when that company changed hands. I'm so glad you are feeling better and look forward to future reviews!
Thank you. I would have liked to see Martin Archery in the glory days. My Dad was the Martin dealer for Australia and he would take Opals for Eva when they went and visited. Apparently, when Martin was in Walla Walla it was a big thing for the town and everyone would know Gail. It was a very inspirational story of setting up a company and growing a company in a small town.
Thanks for the update. And you are definitely looking better. I hope you're feeling it as well. I am hopeful that PSE and continue to offer a great bow and not go though the growing pains of elite when the changed hands. I've been watching Martin and if they can get the CS side fixed up they might actually do something. Until then I'll keep collecting older PSE bows and new ones.
You ARE looking better every video 👍👍. Won’t be long and you can get started on being an archer again. You’ve got your color back and showing more strength. Awesome. Hopefully this company will at least stay the same. I hope Pete took care of his employees and contract archers.
Thank you - feeling a lot better. I can raise my arms now. Not enough to hold a bow. But getting close. Still in pain. But improvements each day. Even my vision is returning.
First of all, I'm into archery because of you (Steven), all my knowlegde about archery (at least 90% of it) comes from your vídeos and I identify a lot with you, hard working that loves to shoot bows, there is something on the shot of a arrow that is plesurefull.
Second, I understand the sandness involved in a "familly business" built from the ground up by one person/familly being sold to a "young" company.
I understand the doubts going thru your mind about the future as a dealer, as I'm a consumer and lover of archery and PSE bows.
What it looks to me is that "some kid just bought a new bow to show up to friends"!!! 😏 I hope I'm wrong, for the future of PSE, your's as a dealer and mine as a lover of shooting bows and archery itself.
Regards from Portugal.
It was because of Steven's reviews that I bought my NXT 33 and now my Supra Focus XL. ...🏹🤠👍
Thank you - I find it very peaceful too. I miss shooting. It is great weather here now so it is really hard not been at the club or just been outside twanging arrows. One of my family buys companies - it is huge business it took me awhile to get my head around it. Sometimes it is assets undervalued, or splitting a company. His latest ones have been internet companies where they build a brand and put things in place to take the company public or to grow it and resell it. Some of the owners of Archery companies are investment groups and this is only a small part of there overall portfolio. It will certainly be interesting to see what changes if anything at PSE. I wonder the growth they expect and how they will achieve growth. Interesting times.
@@theamazinggoldfish8713 Thank you I really like both of those bows. People have shot great scores with both of them.
Thanks for your content! I've learned more from your shared real life experience then theoretical stuff in business school. Thanks again!
I hope things stay as they are, as in quality of product, RRP AND the opportunity for the retailer to make an adequate profit. PSE are awesome bows, and owning one has been a rewarding investment that I hope I can continue and my son also
You would hope new people bring new ideas and expand the brand further.
@@ArcherySuppliesLonsdale let’s hope so!!!
It’s just a brand.
Thanks for the info my friend. I have several PSE bows and a crossbow. What upsets me is I never heard about this from a local bow shop or from pse... but I looked online and you're right...
You're looking great in this video Steven. Looks like your recovery is going well. All the best!
Going really well still in pain. But doc and nurses seem happy. I think when I come back I need to get fitter and stronger than before.
Working for several companies and having been through major changes in companies i.e. down sizing, buy outs etc. I would be very cautious in making any substantial investment in the product until PSE has reestablished itself as a reliable, quality supplier of products. I would have ZERO confidence in words alone. I have seen the B.S. and puffery a.k.a. malarkey, more than I care to relate. One of the indicators of a smooth transition is the current staffing issues i.e. turn over. Were people terminated, did people quite etc.? Good luck in your business, be cautious, and thank you for the information.
Thank You for the up-date on PSE, I`m about the same as > Benjamin , below, I feel I`ve watched you for ever and have learned everything from you, You have a Vast following with GLOWING Results, I hope the Future Is with you with the knowledge you bring to the table and to remain > Top Dog. Lets see what Happens ?? No Matter what > THANK YOU !!
Glad to see you looking and sounding better Steven.
Thank you
What Dudley does in upcoming year will speak volumes.
Yep... can't wait to see how that plays out
When Dudley first signed with PSE it was sales - now not so much. I really don't see people talking about him. I am sure he still has fans but Im not seeing it. His 2 finger carter release people would buy then sell. I dont see people buying them anymore. I suppose I dont see the promotion anymore. Maybe Im not looking. But customers have not mentioned him.
Thanks for the information. Many questions arise as to the future of PSE. I know of several outdoor type companies bought out by outdoor groups that failed in a short time period. Maybe PSE will be the exception. I'm worried.
Some have been fine. Scott, Elite, Bowtech, Excalibur. Saying that I think enough dealers have been through this many times so they will be watching what happens. I suppose it is upto PSE to build products that people demand to buy then dealers stock in volume. I recall Elite with fixed modules now rotating modules and features - changed the company overnight.
Brilliant.. Getting stronger... I got a
P. S. E. Phenom thanks to you. 👍
Thank you yes improving each day.
You're the reason I've been purchasing PSE. I hope it keeps going in Shepley tradition. Otherwise, Bowtech, here I come
Solid choice. I'd take either.
I really like Bowtech - they have some very clever ideas, the pricing seems good. They are looking after us if we have a problem. I think the thing is there are so many bow companies and so many models it is hard to choose. I think when I get better I will do more this bow vs this bow reviews because it is so hard choosing one over the other. Thank you.
@@ArcherySuppliesLonsdale Look after your health first. We want you around for a long time. We all can wait...
“Tech nerd and coffee lover” … yeah and now I’ll try on an archery company… I can’t wait😮
My back ground is IT. But taking on an Archery company would be huge. Zack would certainly be an interesting man to meet, how he moved into this position and what he does with it. Will he move? Will he be hands on.
Maybe PSE will "Finally" get custom PAINTED bows LoL 😂......Hey Steven, if I lived in Australia I would wear an Archery Supplies T-shirt. Would wear it here but I don't think that would do you any good across the pond here in America. P.S. I bought the NXT 33 & the Supra Focus XL because of your reviews, thank you Steven, 🏹🤠👍.
If I had an Archery supplies T-shirt. But thank you. I have never been big on the shirts. Many reasons. I think it makes archers feel not inclusive. For me It was a bit Elite. Maybe I am wrong but I know kids who wanted to be in the group. I sponsor alot of people but you would never know. Sometimes people just speak nicely which I am happy for. But overall I am just happy that people are happy shooting. Thank you.
@@ArcherySuppliesLonsdale So many people are so thankful you Steven and for your team at archery supplies. Praying for your recovery. Between my auto accident, new car and thyroid crisis, I haven't shot in an while and my health is down too, but Lord willing, soon. Take care 🏹🤠👍.
Nailed it. First thing I did was start digging on the new owners etc... They claim to have so much experience and own all these important brands, yet they only own pse... Big false statements right out of the gate, tells me two things. 1. They are clearly invested in marketing first. 2. They are dishonest about thier brand in the name seaming reputable and deep with knowledge and history. I mean "Heritage" is a red flag. I'd be surprised if this didn't lead PSE down a bad road, I hope for your sake it doesn't
Let's trust Pete knew what he was doing when he sold. Time will tell. Hope things go well!
I wonder if people care when they sell? Are they just happy to cash out and take the money. When an archery store closed here, they could have sold the store to me. But they choose to stick it in the bin. Is that stupidity or they just don't care. I know when dad sold his business he just wanted stock value at cost for the business which he got in a 5 year payment plan. The question in my mind is PSE better in the hands of a Shepley or in the hands of a Gleeson. Maybe none of Pete's kids would be as good as Pete, but they all certainly know about archery and have lived with it a lifetime. My son is 27 and while he is not into archery like myself he has still be exposed to it since he was born and has shot most of his life.
So my sons view is Archery business is not worth the stress, you are better to invest your money and retire or work a normal job. Saying all that I dont have a normal job because I need to raise my son and Archery gave me the flexibility to work the hours I wanted (no holidays) and to raise him.
So part of me wonders if the kids think they would rather a normal job? Some of it I am sure is it is big shoes to fill.
I've been involved with archery longer than most, my first compound was a PSE. & always regarded Pete Shepley as someone revered in the industry as a person actively involved with his heart & soul in the sport . It seems that PSE have been though some direction changes in recent decades. Pete can now enjoy a comfortable retirement. We've all witnessed these situations before & most no doubt have an opinion on all this, but nothing lasts forever. There are more great enticing bow brand choices out there now than ever before, so this new Heritage Outdoor Group will certainly need to make some important decisions to achieve market share with PSE.
I remember meeting Tom Jennings. It feels like Pete is the last of the legends. When bow companies were owned my people who built the bows. It feels archery has grown from a back yard business to a big business which is now owned by larger companies. So now maybe it comes to talent you employ as to how your company grows. I just miss the personal side of archery. When you could have a conversation about a bow, how it could be improved why another bow is better. Now I feel if you say the bow is too expensive or another bow is better value you are almost certain to loose your dealership.
What I'm hoping and all this is it to whoever bought it recognizes who you are to that company I believe you brung in and more ways than any more publicity and more value in money that company that they have any ideas
Hopefully they continue to make a great product. A lot of the archery companies bought out by investment groups or bigger companies have terrible customer service. I'm waiting for responses from two companies right now and it's been 12 days since I contacted them and they are not responding and they are not answering the phone.
We use to be tight with the owners of Goldtip. Now some people will know us but I would bet most working there would not give a rats. It is just different. Under ownership normally the owner cares about sales and that flows through to staff.
It seems watching your videos, PSE has been changing their practices leading up to this sale. Hopefully all goes well for the workers. If it goes pear shape with them for you, Steven you should look at Athens Archery - family owned. You can actually talk to the owners (even here from OZ) and seem like great peope.
The big brands have a big following. If through advertising or shooters. Budget bows are the biggest sellers because most people getting into the sport are on a budget. For me it is about volume - Getting large volumes of equipment in and selling it. When a new bow is released there will normally be demand for that model so you need to be first in with the model or have more options. Saying all that - Im not sure Archery is a great business model. Margins are to small, warranty is crazy, costs are high to sell a low profit item. When I was small with no over heads a very simple business.
You sure are looking better after your surgery.
Looking good bro
Any idea on what stock of current bows is available? I've been thinking about getting myself a 2022 PSE Omen and wondering if these and other PSE bows are going to be bought up quickly due to this announcment?
Yes PSE have a list they put out to dealers showing bows in stock. Saying that the wait time at PSE is not long at the moment so build time is quick.
I been shooting PSE for most of my life, I only owned one other bow I got a bear whitetail bow when I was 9. I have owned PSE bows ever since and I am 55. I don’t hunt I in joy shooting 3d and 3 spot archery. I never had a PSE bow let me down. Unfortunately my daughter bought a HOYT bow but that’s what makes it all sweeter when she loses to me. I believe PSE bows are 2nd to none. I am getting ready to buy a new target bow and you can bet PSE is my choice. Keep up all the great work at PSE
Nice - I certainly loved it when my PSE was half the price of a Hoyt.
Looking much better.
Sad to hear this. Been a PSE man for many years. Hold your head high...
Love my PSE Drive R
That was a good solid bow.
I'm a little anxious myself about the sale of PSE, as I own two of their bows. I was not big on PSE when I got back into archery 11 years ago, but once I tried them out I was pretty happy with how each of those bows performed. Mr. Shepley had to retire at some point, I can only hope he did his research and had a good reason to sell PSE to Heritage Outdoors. All I know is that the Colorado sales rep took a job with the government a week before the sale was announced. It's not just Pete Shepley's departure that has me concerned.
Sales reps are so important in my view. A lot of success just gets back to the relationship with the sales rep. When I loose a rep I get very scared. It does not even matter how big account I am a change in sales rep is always scary. When I lost my Darton Sales rep, that was the end for Darton for me. I suppose at the time I would have been the largest Darton dealer in the world. When I became a Mathews dealer I spent 100,000, in the first month I lost the sales rep. The new rep and me never clicked. I complained because I had all this stock and he sold 1 bow to a hoyt dealer. He was clearly trying to build a new account which never happened. He did not like me saying this is not good for my business. Where now the Elite, Bowtech sales reps I get on really well with. Then my fivics and Pandarus people are amazing to me. So you tend to promote the brands which look after you.
I was Gold Tip in Australia selling $250K a year. New sales rep tried a different approach now Goldtip in Australia is nothing.
What about our warranty work if we need it ? Hopefully they stand behind it .
You hope the onwers stand behind it. With Martin the owner did not stand behind it. But then they lost all their dealers and customers. PSE have always been excellent on warranty for me. they have even done peoples bows who have been secondhand. Saying that the lifetime warranty is a long time and from my view when I sell an item knowing forever you need to fix it is a problem. The Warranty does not cover labor but in a shop sense customers do not want to pay - when they hear lifetime they think it is fixed for free forever.
Well I just purchased two new but older models with full factory warranty PSE Ramped and Stinger Extreme, I got maybe 100 shots through both at this point . I know my old Parker I had to send back twice for warranty repair in the first three years I had it . Probably why Parker is out of business 😂
I for one will give them the benefit of the doubt. This group just purchased the company so I think they deserve time to get it up and running and then we can form conclusions on how it will go. I do understand for you as a franchise would worry about future production and product. I hope the new owners will reach out to dealers with a plan moving forward to ease the worry and speculation.
As a dealer we always worry - how will a new bow sell, did we order to many to few, how long will they take to get here.
You mention marketing etc... In about 6 weeks we have the Trans-Tasman event and Oceania championship both in Adelaide at Ashton oval. Are there plans to have a mobile shop on site?
Actually, I know very little about the event. I know one kid in the event, but most kids are waiting to hear. Normally at shoots like this everyone has their stulf so you sell very little if anything. The costs of wages it just normally does not stack up. Now if you are trying to improve your brand then it would make sense. We have so much stock you need to build displays. Saying that it would be interesting to know how many people would attend.
@@ArcherySuppliesLonsdale I know the NZ Oceania team are 25 archers which if I understand it is not filling all of the possible positions. Certainly my daughter and I will be coming into your shop just prior to the start of Oceania. Visiting an actual shop will be a first for us. South Island NZ is hard work. Looking forward to the visit.
I wonder what Dudley is thinking or has to say about that.
I guess he says nothing.
A lot of PSE consumers were worried about PSE bows being continually manufactured in the USA. The CEO of Heritage Outdoor Group, Zack Gleeson did claim that manufacturing will continue to stay in house in USA. I can see PSE benefiting from this since it was a huge investment and hopefully new innovation hits their bows. However I do hope Zack is passionate about Archery as the consumers are instead of just a business venture to add unto his resume. We can only hope. Would be nice to have more transparency on this business deal, however there's a lot of NDA whenever a new investment taking over an existing company.
You're looking really good man
Thank you getting better.
I wonder how this will affect their Pro Shooters.
I hope Pete took that into consideration when he sold.
Maybe that is the reason Kyle Douglas switched; he might have been informed beforehand.
If that's the case then I wonder why Schaff switched and the egendary Dave Cousins stayed.
From what I see here in the South East US, many shops are not purchasing anything from PSE. Everyone thought something was up. The reps were trying to force shops to purchase the Fortis and Unite as a sight unseen bows. They all were declining.
This quick sale and the push by the reps now make it look like there was one last minute money grab by Pete and all those leaving. This has put a very soar taste in people's mouths.
Still waiting on my fortis. Order it on January 19th told 2-3 weeks. Still waiting on it.
It would certainly be an interesting story. Im not sure many or any dealers could talk about it. For me I got lost when PSE started rolling out bow releases. Several reasons for this - I did not know when a bow would be replaced and hence when you need to loose money on the purchase. When a new bow is released it is often not available. I use to order a massive order at the start of bow release because you knew it would be around for a year. Now you dont know what is coming and when so it is hard to place a large order and save on postage. The multiple cams makes it really hard for me. Which one do you stock? Then if you are stocking the Fortis it comes in 2 sizes 3 cams,3 poundages, 9 colours and 2 handle types. So how many bows do you stock? There becomes so many options the best option is to order it in when the customer orders it. Saying that most sales are impulsive so now you loose the impulse sale. Now looking the Fortis replaces all the NXT's - So now I need to discount all those bows. Which is a huge job.
I've had the impression for a while now that Americans prefer Mathews and Hoyt bows anyway
Yup.
I have to belive and also go with Steven . Is the writing on the wall ? I would be very sad to lose them ! Things work very biferent and some times not for the best . Fingers crossed
I think PSE is huge and lots of staff, so it is like a huge boat. I wonder what the new captain brings? Maybe the new owner does not bring anything, maybe a new computer system? Maybe the new owners will create a big boom. I think back to the PSE archery shop and the PSE indoor and outdoor shooting range. The PSE cafe. What direction is coming next.
@@ArcherySuppliesLonsdale Just had lunch with my besy bubby (follow's alot of the shooter's) He said at least three big name's have dropped PSE and moved ? May be that was just money talking They are a big ship and one of the leading one's too
This sounds pretty positive to me and not like a stereotypical investment group acquisition.
Pete had to sell up at some point and it sounds like he's sold to a group of enthusiastic parties that have effectively clubbed together to raise the funds - ie HOG was explicitly created to enable the acquisition. It doesn't appear to be an existing group that was cruising for a company to acquire and strip. The TBA acquisitions will be interesting.
Given the freshly minted LLC was registered in a state that allows the company's public records to be anonymous, it seems they want to keep things under their hat (at least for now). There are some rumours, and and some of the IG accounts followed by HOG may support those but at this stage show knows?
If the rumours are true then some exceptionally social media savvy, successful, patriotic Americans running the marketing side while allowing PSE to carry on doing what they do best (perhaps with some extra funds) has the potential to be something great indeed. I wish them all the best.
Certainly interesting - why would the company not be setup in AZ? I remember Martin telling me that signing some media people was huge as it got their products in the big box stores. It is interesting that people funding it have been quiet. You assume the group would have been working on this for months. Maybe it will be like Elite and Bowtech where the ownership appears to have no impact - we all have to wait and see.
Yay . I don’t do any business with black rifle do to their anti 2A past and I just ordered a new pse bow. Looks like this will be my last pse .
I remember when Proline was brought by Darton. Well Darton changed all the Prolines to Dartons. It might be the engineers now have the freedom to come up with new ideas. This has happened when Bear brought Jennings and then Golden Eagle brought Bear. There was 3 distinct bow brands, now just Bear. We will need to wait and see.
I hope PSE do custom bows again. I think that was excellent.
@@ArcherySuppliesLonsdale But recently in 2010's, Bear Bought up Cajun Bowfishing line and those bows are still made under that line and name so much that Bear Stopped the plans of reintroducing a similar design reel to the old traditional bow reel the company had until 1980 but with a different back, more in style to the metal model Cajun made but with a Bear logo and in the classic green color. In fact I am not so sure if that is not the classic model that Bear planned to make as its own model for the classic linup.
Hopefully they make better then what Pse has been building
Is Pete Shepley still involved with PSE at all ?
It’s an investment trust that invests in outdoor companies
What happened to carbon express?
quality sinked
Good business practices have to be maintained or the business will go down hill or go down the hole, or the quality will go to shit in a handbag
Pete tried to pass it to his son. But his son was running it into the ground, so Pete took it back.
Well, Mexico is in America, as a continent and labor cost are low there, so new CEO might be right on this one, lol.
Self enrichment is all I see. It appears as a conserted effort to dismantle the hunting industry one company at a time.
I wonder maybe the archery industry is growing up and maybe this is the next step. I wonder how long till China plays a huge part in the Archery industry in the US?
@@ArcherySuppliesLonsdale you can support the communists all you want. I'll pass. We've sold our souls for cheaper prices and there's got to be a line drawn somewhere. I'll continue shooting my custom recurves made here in the states. To hell with the Chinese.
Junxing for the win 🤣
Perfect. Hopefully he downsiizes and do uses on a few bows a yeae made in USA. Allow another company promote and sell cheaper big box store products made in China. Need more of this.
Interesting - PSE use to ask me what I would do to expand their business. Certainly adding key Chinese items would be on the top of my list. Been a one stop shop for all Archery needs. But I dont get the sense that is where they are going.
@Archery Supplies these companies have got to big for their own good. Days of offering something for everyone is over. Find what works and specialize in. If want to be a top tier bow manufacture do so. Embrace it and don't also try to be a budget manufacture. Other companies will be happy with that space and nothing wrong with that.
Lots of companies pulling out of China in the fear of collapsing globalism.
Good bye PSE within two years it will scraping the ground
Marketing is not just tv and magazines that’s old school. What I find interesting is you are some sort worlds best seller. Martin Archery and this sale is much different. Someone like Dudley who has 100% made a business out of Archery says it’s a great deal maybe listen a little. You seem pretty negative vs what you use to be.
First item of business. Find cheaper labor!
Looks like another Rich energy drinks company
I think they are going to dissolve the company...
I still have and shoot my 20 yr old pse bought it at thier shop in arizona and brought it with me from arizona fully set up for 400 bucks. Now a bare bow pse is 1000 bucks . No thanks. Ill keep my old one still kills moose just fine
I disagree about marketing. Social media and online marketing is not expensive. Look at Mathews, they rule this area and their bows sell themselves
I think Mathews originally allocated 10% of sales to marketing. Giving away bows and prize money. Im not sure what it is today. You say that but in Australia I dont see mathews. In the beginner area they dont exist. In the top end in Australia very few people shoot them. Saying that they are expensive and out of the price range of 95% of buyers. In Australia very few shops carry Mathews. I stock Mathews - I guess I sell 10 a year.
I dont think the Mission range from Mathews really stacks up against the other brands. I would be surprised if Mission sales are anything like Bear sales.
@@ArcherySuppliesLonsdale on this side of the pond Mathews and Hoyt dominate. I have worked in several archery shops in the south east us, and Mathews out sells every other brand 10-1. Got to the point with a couple that they could not give away bowtech, pse, elite, prime, even Hoyt on this side of the country. So these shops just stopped selling any other brands. Mathews is an American company and dominates the market. They have never put much behind overseas sales. No need to. They only sell to pro shops no box stores. And stand behind there products. There prices in the lower 48 are on par or below, other manufacturers msrp for flagship models. Pse hasn’t been relevant in over a decade.
@@jasonbarnes3188 Yeah, in the hunting spheres Mathews and Hoyt are all most people use in America but internationally the other companies have a much higher presence.
This is also why I believe Hoyt will never let Cameron Hanes go and will give him anything he wants, even though he mostly does his own thing. Imagine losing one of bowhunting's greatest advocates.
Dude, u look so unwell
You should have seen him two weeks ago!
He looks so much better!
PSE....is now past shooting experience. This group owns nothing but pse, I see nothing good coming from this
I worked for a mid sized oil company that was bought by one the largest companies from Austrailia (BHP Billiton) and it was the down fall of our US on shore oil and gas production like you say they told us it would go on as we had well guess what they sold of the on shore assets off!!!!
BHP is big - all about profits. When they buy it the have clear idea of what they are going to do. They will normally act quickly.