- Industry: Sporting Goods
- Location: United States
- Website: ghostgolf.com
Wayflyer funded Ghost Golf's inventory purchases ahead of its 2023 growth plan
Ghost Golf sold out within a week of Black Friday 2022 and estimates it left $1.5-2M in sales on the table from a lack of inventory funding. Traditional banks did not understand its growth model. Wayflyer funded the inventory purchases needed to meet 2023 demand without stockouts.
- Tailored to Ghost Golf's marketing and inventory needs
- Seasonal flexibility
- Cash for the stock needed to meet growth projections
- Avoided stockouts
- Q4 revenue versus the same period the year before
- 2x
"When we came in contact with Wayflyer, the process at that time was simple. They understood our marketing strategy, they understood our need for inventory. Traditional banks do not understand the business model that we're in."
Challenge
Understanding the challenge
Ghost Golf, headquartered in Irvine, CA, was born from COVID in 2020. With more time to play 18 holes and practice on the range, founder Andy Nalla started developing ideas for new golf accessories. The brand quickly rose to prominence in the golfing world with innovative products like their signature magnetic golf towel and stylish golf bags.
Despite their significant sales, they faced a crucial hurdle: maintaining inventory levels. They were growing extremely fast but didn’t have the cash flow to purchase enough inventory to keep up. After Black Friday 2022, Ghost Golf was completely sold out with no stock to meet demand for the holiday period. Andy estimates they could have sold $1.5m to $2m more if they had had the inventory available to meet consumer demand. He vowed never to let it happen again. It’s a common plight among growing eCommerce businesses: scaling effectively while managing diversified product lines and inventory demands.
Solution
Finding the right solution
The challenge for a brand growing as quickly as Ghost Golf is that every inventory order needs to be significantly larger than the last to keep up with the growing demand. With profit from sales unable to cover their increasing inventory needs, Andy began researching all of his options, from banks to seeking investment, looking for the best external funding options to help him grow Ghost Golf. He felt that traditional banking routes fell short of understanding their unique eCommerce model and growth potential. Then Wayflyer stepped in.
Attuned to the nuances of Ghost Golf's marketing strategy and inventory requirements, Wayflyer presented a tailored revenue-based funding solution that advanced the right amount of cash to secure the large amount of inventory needed to meet their growth projections.
“My biggest regret last year was not having that conversation with Wayflyer sooner.” Andy Nalla, Founder, Ghost Golf
Results
The measurable impact
The injection of Wayflyer funding changed the game for Ghost Golf. It wasn’t just about replenishing stock; it was about fueling an aggressive growth plan. In Q4 2023, Andy made true on his vow to never leave money on the table again. Ghost Golf doubled its revenue during the same period as the previous year.
In the last six months, Ghost Golf’s sales have soared to $12 million. They’re now not just poised to meet demand but to exceed it, ensuring no opportunity is missed. As Andy and the team prep for another record-smashing year, their journey is a big, bold underline on how getting the right financial support can turbocharge an eCommerce high-flyer.
"We have a pretty aggressive plan for 2023. With partners like Wayflyer already in the mix, we feel we're in a very good spot to accomplish our goals."
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