Equipment
Ben Hogan Golf Equipment Company closes down after pandemic struggles
Ben Hogan Golf Equipment Company has confirmed that the business is no longer active after closing its doors last Friday, July 22, 2022.
The company enjoyed a re-inception in 2017, which included its majority shareholder and Manager of the Board for the BHGEC, Ex Works Capital, LLC, acting as the company’s primary source of funding.
However, according to BHGEQ’s CEO and President Scott White, after their investment portfolio was negatively impacted by the COVID-19 pandemic, the shareholder ceased providing financial support to BHGEC in late 2020.
In an email to GolfWRX, White stated:
“I am very proud of what we accomplished at the Company over the last few years. We had a great team and produced some excellent products that we think would have made Mr. Hogan proud. We were simply underfunded and couldn’t pursue a lot of the more expensive initiatives that would have accelerated our growth.”
Per White, after understanding that they could not provide the capital to the BHGEC to fuel continued growth, ExWorks Capital began a sales process (managed by Chiron Financial Investment Bank) in mid-2021 to identify new investors and/or sources of funding. This process was mostly unsuccessful for several reasons, and ExWorks Financial filed for Chapter 11 bankruptcy protection in March 2022.
Despite this, White added that BHGEC was mostly self-sufficient in 2021 and enjoyed its best year ever since pivoting to its DTC business model in 2017. Per White, the average revenue growth rate (2017 – 2022) was over 46.3%, while the company was break even at an operating level in 2021 and would have achieved (and surpassed) profitability targets if not for supply and financial constraints.
The website is still currently operating but features a banner noting that it is “unable to process orders.” While the company closed last Friday, White revealed in the email that he hoped it wouldn’t be permanent but added that it might well be.
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- Steve Stricker WITB accurate as of the Zurich Classic. More photos from the event here.
Driver: Titleist TSR3 (9 degrees, C4 SureFit setting)
Shaft: Fujikura Motore Speeder VC 7.2 X
3-wood: Titleist 915F (13.5 degrees)
Shaft: Mitsubishi Tensei CK Pro White 80 TX
Hybrid: Titleist 816 H1 (17 degrees)
Shaft: Fujikura Motore Speeder VC 9.2 X
Irons: Titleist T200 (3, 4), Titleist T100 (5-9)
Shafts: Project X 6.5
Wedges: Titleist Vokey SM8 (46-10F @55), Titleist Vokey SM10 (54-10S @53), Titleist Vokey SM4 (60 @59)
Shafts: True Temper Dynamic Gold X100 w/Sensicore
Putter: Odyssey White Hot No. 2
Ball: Titleist Pro V1x
Grips: Golf Pride Tour Velvet Grip Rite
Check out more in-hand photos of Steve Stricker’s clubs here.
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- Alex Fitzpatrick what’s in the bag accurate as of the Zurich Classic.
Driver: Ping G430 LST (10.5 degrees)
Shaft: Fujikura Ventus Black 6 X
3-wood: TaylorMade Qi10 (15 degrees)
Shaft: Fujikura Ventus TR Black 7 X
Hybrid: Ping G430 (19 degrees)
Shaft: Fujikura Ventus Black HB 10 TX
Irons: Ping iCrossover (2), Titleist T100 (4-PW)
Shafts: Fujikura Ventus Black HB 9 TX (2), Nippon N.S. Pro Modus 3 Tour 120 X (4-9)
Wedges: Titleist Vokey Design SM10 (50-12F, 56-12D, 60-08M)
Shafts: Nippon N.S. Pro Modus 3 Tour 120 X
Putter: Bettinardi SS16 Dass
Grips: Golf Pride MCC
Check out more in-hand photos of Alex Fitzpatrick’s clubs here.
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In our forums, our members have been discussing Mini-Drivers and accompanying shafts. WRXer ‘JamesFisher1990’ is about to purchase a BRNR Mini and is torn on what shaft weight to use, and our members have been sharing their thoughts and set ups in our forum.
Here are a few posts from the thread, but make sure to check out the entire discussion and have your say at the link below.
- PARETO: “New BRNR at 13.5. Took it over to TXG (Club Champ but TXG will always rule) in Calgary for a fit. Took the head down to 12, stuck in a Graphite Design AD at 3 wood length and 60g. Presto- numbers that rivaled my G430Max but with waaaaay tighter dispersion. Win.”
- driveandputtmachine: “Still playing a MIni 300. The head was only 208, so I ordered a heavier weight and play it at 3 wood length. I am playing a Ventus Red 70. I play 70 grams in my fairways. I use it mainly to hit draws off the tee. When I combine me, a driver, and trying to hit a draw it does not work out well most of the time. So the MIni is for that. As an aside, I have not hit the newest BRNR, but the previous model wasn’t great off the deck. The 300 Mini is very good off the deck.”
- JAM01: “Ok, just put the BRNR in the bag along side a QI10 max and a QI10 3 wood. A load of top end redundancy. But, I have several holes at my two home courses where the flight and accuracy of the mini driver helps immensely. Mine is stock Proforce 65 at 13.5, I could see a heavier shaft, but to normal flex, as a nice alternative.”
Entire Thread: “What’s the perfect Mini-Driver/Shaft combo? – GolfWRXers discuss”
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Steve Stricker WITB 2024 (April)
Steve Stricker WITB accurate as of the Zurich Classic. More photos from the event here. Driver: Titleist TSR3 (9 degrees, C4...
Alex Fitzpatrick WITB 2024 (April)
Alex Fitzpatrick what’s in the bag accurate as of the Zurich Classic. Driver: Ping G430 LST (10.5 degrees) Shaft: Fujikura...
Alejandro Tosti WITB 2024 (April)
Alejandro Tosti what’s in the bag accurate as of the Zurich Classic. Driver: Srixon ZX5 Mk II LS (9.5 degrees...
Drew Brees WITB 2024 (April)
View this post on Instagram A post shared by GolfWRX (@golfwrx) Driver: TaylorMade Stealth 2 Plus (10.5 degrees)...
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Ph
Jul 28, 2022 at 8:12 pm
To be growing nicely and breaking even in the super popular golf industry in mid 2021, the period we will all look back on as the easiest funding environment maybe ever, and not be able to find any financing/investment to keep the business going? Think some further probing is warranted there…glad I didn’t have any money with that investment firm!
David
Jul 28, 2022 at 1:48 am
Not a surprise at all. Most golfers only want to buy gear “the pros play” and why component makers have pretty much gone the way of the dodo and are picked up by Golfsmith.
PXG is only still alive because they are funded by billionaire and he is willing to lose money or have minimal returns (PXG is probably the equivalent of a lemonade stand for the rest of us).
I was a huge Hogan fan and have many sets of original Hogan irons that I still play when I play “classics” during the summer. Amazingly you can still pick up a pristine set of circa 70s or 80s Hogan irons for $150-300, and they perform just as good as modern blade irons.
BHGEC could have made it if they sold at component prices, but their price-point was too high for a DTC model, and they didn’t have as deep pockets as Bob Parsons.
C’est la vie…
Richard Johnson
Jul 27, 2022 at 2:14 pm
Sad to see the company go. I’ve played the Fort Worth 15 irons since 2017. Their equalizer wedges, hybrids and fairway woods are really good. But, they catered to a diminishing niche. Nice while it lasted.
BK
Jul 27, 2022 at 1:32 pm
So is there any way for us to buy the remaining stock that needs to be liquidated? I read that a stipulation of the Ownership required that nothing else be sold with the Hogan name, but what will happen to all the existing stock? I would love to pick up a set of PTX Pro’s for 1/2 off!
Edward Bardoe
Jul 27, 2022 at 11:49 am
The Hogan DTC concept substituted American assembly for Chinese assembly of Chinese made parts in order to allow customizing. Saved the retail store markup, but couldn’t produce enough volume to pay for the TV ads they bought this year. Perhaps also had to pay rental on the Hogan name from Callaway.
Peter
Jul 27, 2022 at 11:42 am
good riddance
Richard
Jul 27, 2022 at 1:12 pm
Did your buddy smoke you with some Hogan irons, 1/3 the price of the trash you used?
John
Jul 27, 2022 at 11:36 am
Crap clubs, no big loss.
Good riddance.
Steve
Jul 27, 2022 at 10:48 am
Here is the answer for Hogan, make a deal with Dicks.. Dicks has saved a lot of brand names and Ben Hogan clubs would be a quality addition to their line up a step above Tommy Armour.
pi
Jul 26, 2022 at 2:21 pm
Good example why capitalism is a failure: always searching for growth/increased profits. Ben Hogan golf did not close down because they were making a loss, but because they couldn’t grow enough for their investors.
Gordy3279
Jul 26, 2022 at 3:44 pm
This is the most ignorant thing on this site ever. If you aren’t looking for growth or profits then there’s no point in owning a business. This is why probably you are broke or close to it.
Joe
Jul 26, 2022 at 4:34 pm
You’re right Gordy, your comment is the most ignorant thing on this site ever. Eventually there’s no more juice to squeeze genius
Moe Greene
Jul 26, 2022 at 4:40 pm
Wow, the amount of commies in this place is amazing and pathetic. Hope you all get your clubs at the salvation army and you play golf in your backyard as that is the only way your stance on capitalism makes any sense.
Btw, you must be stealing your neighbors internet as those ISP companies sure do make a profit too. How can you afford it?
Ray
Jul 27, 2022 at 11:34 am
Straight to the childish insults, as always with you online windbags.
There is a big difference between making a fair / decent profit and outright GREED.
I could add at least a dozen easy insults, but then id be at your level.
Peter
Jul 27, 2022 at 11:47 am
As usual…
Straight to the childish insults. Speaks to your character IMO.
There is a big difference between a fair profit and outright GREED. Then again as you have 5,000 worth of PXG in your bag, who am i to tell you how to be a total sucker right?
People in glasshouses, as usual… SMFH.
Moe Greene
Jul 30, 2022 at 6:42 pm
Insults? Why you already said you are commies? I am giving you your commie facts. Grow up.
CB
Jul 26, 2022 at 6:04 pm
What a really stupid comment EVERY company on earth is in business to make money du-dum!!
MICHAEL
Jul 26, 2022 at 8:55 pm
You do realize there’s never been a successful communist country, nor, one that could feed all it’s (unlucky) citizens. My friends from the former ussr tell me it wasn’t fun waiting in line for toilet paper.
Peter
Jul 27, 2022 at 11:47 am
I guess you don’t remember COVID.. LMAO
JF
Jul 27, 2022 at 1:17 pm
Never ran out of toilet paper here. You must be really full of sh*t if you needed that much TP!
Matt
Jul 26, 2022 at 2:20 pm
Good riddance.
Brandon
Jul 26, 2022 at 10:30 am
DTC isn’t really appealing to most people for something as personal and subjective as golf clubs. I seriously considered the PTX Pro when I was shopping for new irons, but I couldn’t hit them so I didn’t buy them. I know they had some demo program, but that is just too much effort. When I’m buying new equipment I go to the store, hit the ones I like, and get what feels the best.
Peter
Jul 27, 2022 at 11:52 am
Testing inside is futile and leads to very bad purchases IMHO
Unless im testing outside, i aint buying
Brandon
Jul 30, 2022 at 8:40 am
In an ideal world I’d agree with you. Unfortunately the hitting bay is the only place I can go hit all the current equipment back to back. Not disappointed with my Wilson Staff Model CBs though.
Cdub
Jul 26, 2022 at 9:45 am
Man that is sad.
Stacey Uchtman
Jul 26, 2022 at 6:25 am
RIP
Mike
Jul 26, 2022 at 8:29 pm
R.I.P. …..again.