Highlights

Revolutionary new wedge design, proven to improve key areas of recreational golfers' wedge game

  • Dramatically improved forgiveness and distance control, higher spin rates, more penetrating trajectories 
  • Design goals based on over 50,000 golfer wedge-fitting profiles; performance superiority proven by independent robotic testing.
  • Engineered for the needs of recreational golfers, not tour professionals
  • Patent pending additive manufacturing (3D) technologies developed for future introduction

The wedge category represents a high potential, relatively un-disrupted segment of the booming U.S. golf market

  • Much slower replacement rate than drivers and putters due to lack of innovation
  • 60% of retail equipment marketplace represented by club sales ($2.1 - $2.7 billion in 2018)
  • Wedge category comprises $150-200 million in annual sales with little to no innovation driving the category
  • 53% of avid/core golfers plan to buy equipment each year

Efficient marketing and distribution model

  • Proven and robust direct-to-consumer sales model
  • Integrated “green grass only” trade distribution model
  • Build-to-order, and just in time inventory system

Founded by Terry Koehler, an acclaimed golf industry veteran

  • 40 years of experience in marketing and product development in the golf equipment industry
  • Terry founded EIDOLON Golf and SCOR Golf before leading the team that relaunched the Ben Hogan brand in 2015
  • Known as “The Wedge Guy,” Terry is a regular blogger on GolfWRX and is a recognized industry authority on wedges

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Investment Terms

Issuer
Edison Golf Company

Type of Offering
Regulation Crowdfunding

Offered By
NextSeed Securities, LLC

Offering Min

$150,000

Offering Max

$300,000

Min Individual Investment

$100

Raised to date

$34,800

Type of Securities SAFE
Valuation Cap $2,100,000
Discount 20%
About NextSeed SAFEs

Learn about NextSeed SAFEs in our Education Center.

View the Issuer's SEC Form C filing

Use of Proceeds

Edison Golf Company seeks up to $300,000 to enable the company to prepare for the 2020 selling season, begin the purchase of inventories of heads, shafts and grips, and initiate marketing activities.  

It is expected that the Edison Golf Company will augment this capital with a limited offering of 500 pre-production sets of wedges, which will generate an additional $75,000-$150,000 in working capital.

Company Description

Edison Golf is a new golf equipment company led by Terry Koehler, a 40-year golf industry veteran and accomplished wedge designer (Reid Lockhart®, EIDOLON®, SCOR™, Ben Hogan®). Edison Golf is challenging 'conventional wisdom' in wedge design with innovative technologies to help recreational golfers hit better scoring range shots more often.


Driving innovation

Every golfer wants the same thing from their wedge game - to hit better quality shots more often. Edison Golf Company aims to help golfers achieve this by reinventing wedge technology as we know it.

Edison Golf's founder Terry Koehler started by asking a simple but possibly provocative question:

Why is wedge design still stuck in the 1960s, while every other golf club category embraces new technologies?” 

He believes the answer lies in the fact that every manufacturer strives to prove their products on the PGA Tour with their paid staff professionals. But the difference between these elite tour players and the 25 million recreational golfers is greater with wedge play than with any other part of the game.

While elite tour professionals have perfected their remarkable skills through thousands of hours of practice over many years, Koehler’s personal experience and study of over 50,000 wedge fitting profiles indicates that most recreational golfers want three main things from their wedge game:

  1. Lower trajectory
  2. More spin
  3. Better distance control 

The new Edison Forged wedges present a comprehensive package of technologies that delivers lower and more repeatable trajectories, improved spin, and much more forgiveness of, and distance from, off-center hits. Robotic testing has proven Edison wedges to deliver long / short dispersion patterns that are less than half the size of that of conventional 'tour design' wedges -- up to 31 feet closer to the hole on your mishits.

A shift in design philosophy

Edison Forged wedges look different from other wedges because they are different. Compared to traditional tour-style wedges that place the majority of mass low in the clubhead, Edison wedges re-distribute mass higher in the head and around the perimeter to increase moment of inertia (MOI), which defines a clubhead’s resistance to twisting at impact and leads to improved consistency on shots hit around the face. Traditional wedges with their low center of gravity (CG) have an inefficient MOI, which causes shots to launch higher and with less spin; that might work for modern drivers, but it’s the exact opposite of what is desired in wedge performance.  This radical departure from traditional ‘tour design’ wedges is the key to the tremendous performance gains proven by independent robotic testing.

Another key difference is in the signature “Koehler sole”.  First patented by Terry Koehler in 1994, this versatile sole design has been further refined by Koehler to address and eliminate the consumer confusion around trying to select just the right sole grinds for swing and turf conditions. Koehler’s design philosophy is that since turf conditions can vary greatly throughout the season, course to course, and even shot to shot, a wedge sole design needs to be able to handle anything the golfer might encounter. The rear portion of the sole has a low bounce angle and subtle relief so it can handle tight lies, firm turf, and shallow swing paths. However, the leading portion of the sole has a high bounce, so that same wedge can handle softer lies and steeper swings.   It should be noted that earlier iterations of the “Koehler sole” have earned a loyal following through well over a hundred thousand of wedges sold.

The final part to this wedge performance equation is spin. In addition to the tremendous spin gain from the Edison Forged head design, these wedges are pushing the limits of wedge face and groove technologies by fly-cutting the face to perfect flatness, then CNC-milling progressive grooves with varying width, depth, spacing, and wall angle. The company then adds a unique “X pattern” etching between the grooves to push the wedge performance to USGA limits.

Finally, the Edison Forged wedges are finished with a proprietary “Durable Chrome” plating that is twice as thick as used by other brands, thereby extending the useful life of the wedge.


Proven Performance

The Edison Forged wedges have been proven by independent robotic testing to deliver more penetrating trajectories (2-4 degrees lower than ‘tour design’ wedges), dramatically improved spin because of improved gear effect and more distance out of mishit shots, particularly those high-face impacts that result in significant distance loss. 

This performance superiority is attributed to the revolutionary (patent pending) technologies, which are focused on solving the wedge performance problems revealed by 50,000+ golfer wedge-fitting interviews analyzed by principal Terry Koehler. That data indicates that, regardless of handicap, most golfers seek lower and more repeatable trajectories, increased spin and improved forgiveness of off-center impacts with their wedges. The Edison Forged wedges deliver on all fronts.

The shortcomings of ‘tour design’ wedges lie in the fact that they typically have a “smash factor” that deteriorates by as much as 15-20% as impact moves just a half inch around the face from the optimum center-hit location. [NOTE: Smash factor defines the efficiency of the transfer of energy from the swing speed to create ball speed.]  While elite tour professionals use this smash factor volatility to their advantage, intentionally hitting shots off-center to leverage their extraordinary skills, that's just not how recreational golfers play the game.

In radical contrast, the Edison Forged wedges have been proven to keep smash factor variances to less than 6% as impact is moved around the face, which means much more consistent distance on all shots, and improved trajectory control and spin.


Specs and availability

Edison Forged wedges will be available in lofts from 45 to 63 degrees in odd numbers only, starting in the spring of 2020, and currently only in right-handed; left-hand models will be added as sales volumes justify. Standard shaft offerings are from KBS including the KBS Tour 120, Tour 105, Tour 90, and Tour Graphite in multiple weights.

All orders for Edison Forged wedges will be custom crafted by a team of skilled clubmaking professionals and shipped from the Company’s assembly / fulfillment center in Fort Worth, Texas.

Read more about the Edison technologies here.

Business Model

The Market Opportunity

Overview of the U.S. Golf Marketplace 

(The golf industry is estimated by multiple sources with various methodologies; the following summary is presented by Founder Terry Koehler based on his 40 years of industry experience with these various sources of data.)

  • U.S. market represents roughly 1/2 of the global golf market
  • $3.5 - $4 billion retail equipment marketplace
  • Typically, about 60% of retail equipment marketplace is represented by clubs ($2.1 - $2.4 billion)
  • +/- 24 million total golfers
  • 8-9 million core golfers (8-24 rounds/year)
  • 7-8 million avid golfers (25+ rounds/year)
  • Over half of avid/core golfers plan to buy equipment each year

While industry data varies depending on the source, the U.S. golf equipment industry can be estimated at  $2-2.5 billion per year in revenues; of which $150-200 million seems to be represented by the wedge category (The U.S. market is approximately one half of the worldwide market. Edison Golf is confident it can attain a 2-3% market share within a few years through the combination of their potentially disruptive technologies and implementation of their efficient business model.  From this foundation, accelerated growth strategies can be implemented, and product line expansion into other equipment categories evaluated.

Market Research

In his career, Koehler has created several online wedge-fitting experiences to generate over 50,000 golfer profiles, which he has studied and analyzed to help lead to the development of the Edison Forged wedges. He has also been the architect of several proprietary research projects conducted by Golf Datatech, the industry’s top research firm, and benefited from several of Golf Datatech’s own proprietary research projects into the equipment sector.

In addition, Koehler has conducted numerous surveys of fans, followers and customers -- thousands of golfers -- to more deeply understand what lies behind transactions and non-transactions, i.e. the actual shopping and buying pattern of golfers when it comes to their wedges and irons.   His statistical research insight has been verified and supplemented by hundreds of interviews with golf consumers and golf trade buyers at demo days and trade shows over his career.

It is important to note that Edison Forged wedges have been subjected to independent robotic testing against the top three brands in the marketplace and were found to be far superior in all performance categories that matter to recreational golfers – spin, forgiveness, trajectory, and distance deviation.


Marketing and Sales

After a very limited “soft launch” in November 2019, Edison Golf Company will formally launch in February of 2020 with a press campaign and the announcement of the new Edison Forged wedges becoming available in Spring 2020.

Koehler will leverage his weekly blog on GolfWRX (15-20k readers per week) and his industry reputation to earn initial media coverage and website traffic. As the product is introduced, PR activities will accelerate and be accompanied by strategic digital and traditional media buys. In addition, conversations are in process with several possible strategic partners who have sizeable customer / follower email databases.

Edison Golf Company has created a sophisticated performance model for its direct-to-consumer (DTC) sales forecasting, with metrics based on actual performance from Koehler’s prior experience with SCOR Golf and Ben Hogan Golf. [It should be noted that Edison’s second-year revenue forecasts are only slightly higher than SCOR Golf attained in its second full year (2013)].  Through these successful DTC models and processes, SCOR Golf was able to convert its earned database into revenues at over $90 per name over a three-year period.

Once the DTC model is up and running, Edison Golf will test market a revolutionary integration of DTC and “green grass only” trade distribution, so that the products can be tried and tested where the game is played. This integrated plan has been met with great interest from several experts within the PGA community.

While the model forecasts penetration into the green grass network, the assumptions are extremely cautious, assuming only 180 active accounts out of the 12,000 potential accounts in the first two years. This represents a tremendous upside opportunity as the test marketed model is refined and optimized.


The Team

As Chairman and Director of Innovation, Terry Koehler will direct product development and marketing activities for Edison Golf. Support services such as assembly, fulfillment, and accounting will be outsourced to qualified resources in order to allow the company to operate with limited fixed overhead allocated to office space or staff. 

In addition to his club design talents, Koehler is a recognized industry authority and experienced golf industry marketer, a prolific writer (over 700 blog posts as “The Wedge Guy”; 2+ million views) and broadly covered interview subject.

Joining Koehler as Chief Operating Officer is fellow principal Trace MacDougall.  An accomplished process engineer, experienced COO and former golf professional, MacDougall will manage all financial and operational aspects of the Company.  

Koehler has also recruited close support relationships in legal (Traverse Law), marketing (Ensemble Group) and other key areas. Koehler has been in conversation with a number of qualified industry veterans to fill future positions as these outsourced functions are internalized. 


Business Operations & Cost-Saving Methodology

Edison Golf Company has created a lean business model that will bring Edison Forged wedges to market in Q1 2020 and allow the company to responsibly accelerate revenues as initial market success dictates. The Edison sales model is a refined version of the one pioneered by Koehler at SCOR™ and Ben Hogan®, which generated reproduceable metrics. This methodology generated over $1.8 million in wedge sales by SCOR® Golf’s second full season (2013), and nearly $4 million in wedge and iron sales in the reincarnated Ben Hogan® Company’s first nine months (2015). Based on the proven performance superiority of Edison Forged wedges, Edison Golf believes it will surpass the purchase-after-trial / demo rate of 85+% experienced by SCOR.  

It is also key to the Edison Golf model that over 80% of SCOR Golf’s wedge customers reported they were not in the market for golf clubs when they learned of SCOR Golf’s message of improved performance. The ability to create buyers with a powerful value message in addition to winning sales from other competitors is a tremendous financial advantage.

As manufacturing methods and costs are refined, Edison will complement the Edison Forged wedges with a limited-availability introduction of the industry’s first mainstream product completely fabricated by additive manufacturing methods (3D) (U.S. patent pending). These Edison wedges will carry an appropriate super-premium price point. This limited offering will serve to generate media buzz as well as additional working capital, and could lead to complete disruption of the category.  Expansion into other golf club categories where Edison can create performance value will be evaluated as the Company solidifies its market position in wedges and builds a customer database which may be mined for opportunities.

History

October 2019
First stage funding and tooling complete
November 2019
First inventory orders placed
December 2019
EdisonWedges.com website launched
December 2019
First advance orders received
January 2020
Marketing programs to launch; advance order deposits taken
March 2020
First inventories to be received
March 2020
Full e-commerce activities to begin
May 2020
Positive cash flow predicted

Meet the Team

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Terry Koehler
Chairman / Director of Innovation

Terry has 40 years of experience in marketing and product development in the golf equipment industry, with an acute focus on the wedge category. Terry founded EIDOLON Golf and SCOR Golf before leading the team that relaunched the Ben Hogan brand in 2015.  A lifelong teacher and learner, Terry is a regular blogger on GolfWRX, known as “The Wedge Guy,” due to his recognized industry authority on wedges. Terry holds a BBA in Marketing from Texas A&M University.

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Trace MacDougall
Chief Operating Officer

Trace has 35 years of progressively responsible management and consulting experience spanning the full range of operational functions – HR, IT & CRM systems, P&L, R&D, manufacturing, quality, sourcing & purchasing, distribution, customer service, administration, and compliance. He has been the Chief Operating Officer for a multi-million-dollar manufacturing entity.

Some of the brands Trace has represented include Martin Marietta, GE, Toyota, Motorola, STX Putters, Perdue Farms, Ben Hogan Golf Equipment Company, and McCormick.

Bonus Rewards

Early Bird Reward
45 remaining
First 50 investors who invest $2,500 or more will receive:
  • One Limited Edition “One of 500” set of Edison wedges (51/55/59 lofts)
Invest

$1,000+

  • 10% discount on any Edison wedges from the first production cycle
Invest

$5,000+

  • 10% discount on any Edison wedges from the first production cycle
  • One Limited Edition set PLUS an hour of wedge instruction from a local professional
    Reimbursement for local wedge instruction will be provided by Edison Golf, up to $100.
Invest

$10,000+

  • 10% discount on any Edison wedges from the first production cycle
  • One Limited Edition set PLUS an afternoon of golf and wedge instruction with Terry Koehler
    Details of wedge instruction to be arranged on a case-by-case basis, expenses paid by Edison Golf.
Invest

$25,000+

  • 10% discount on any Edison wedges from the first production cycle
  • One Limited Edition set PLUS an afternoon of golf and wedge instruction with Terry Koehler
    Details of wedge instruction to be arranged on a case-by-case basis, expenses paid by Edison Golf.
  • PLUS, attendance at the 2021 PGA Merchandise Show with the Edison Golf team (Limit 3)
    Travel and lodging expenses to be arranged and paid by Edison Golf.

Special Bonus Rewards for Golfers

In order to tailor our fundraising campaigns for the golfing community, the following special Investor Bonus Rewards will be made available to investors at various levels. See cards above for full details.

Bonus rewards are offered by the Issuer purely on a voluntary basis and do not influence the terms of the Offering. For the avoidance of doubt, the bonus rewards are not contractual conditions governed by the SAFE and are not enforceable under the SAFE.

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Olaoluwa
Can you discuss your previous companies and the success rate for those? Feel free to use financial metrics if available. Thanks
Edison Golf Company
ISSUER
I built EIDOLON Golf from a grassroots foundation, with only one minority co-founder. In 2010, I developed a breakthrough technology in wedge design and we evolved EIDOLON Golf, LLC into EIDOLON Brands, LLC and created the SCOR Golf brand. By 2013, w ...
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Issuer Statement

The information contained on this campaign page (the "Campaign Information") is furnished solely by the Issuer to prospective investors in the investment opportunity described herein. All Campaign Information is intended to be a summary of the terms and information contained in the Disclosure Statement and the Note Purchase Agreement, and is fully qualified by reference to those documents. In the event any Campaign Information conflicts with the terms of the Disclosure Statement or Note Purchase Agreement, the terms of those documents will control. The Issuer has provided the Campaign Information for inclusion on the website located at www.nextseed.com, and in no way will the Campaign Information be deemed to have been created or provided by NextSeed Securities, LLC, NextSeed Services, LLC, or their affiliates.