You are in:
INTERSPORT Tony Pryce
Adrian Giblett, the current managing director of the business, tells, in some ways, a classic story of a family business. Tony Pryce (who formerly was a butcher in the mid-Wales town of Welshpool) moved to Minehead and opened his first store. But he wasn't just a retailer, he was an entrepreneur. A year later he had opened a second store in Tiverton, followed a few years later by one in Taunton. Adrian Giblett joined the business in 1985 to manage the Minehead store - he's married to one of Tony Pryce's three daughters and Pryce's two other sons-in-law are also involved in the business.
So far, so much the family business as seen up and down the country. Although Tony Pryce retired in 1991 the business continued to grow. It now comprises ten sports shops - the latest in Cardiff with the others spread across the South West. In addition there are now thirteen Animal stores - the part of the business which has seen the fastest rate of expansion. There are also four multibrand surf stores trading under the brand Wipeout and two Edge shops selling high street fashion brands. Finally, the company runs the Exeter Chiefs Rugby Club's shop and has just agreed a deal to do the same for Exeter City football club.
This looks like an object lesson in flexible thinking: applying their retail skills in general and their specific sports retailing knowhow to whatever commercial opportunities present. The company fits the stores to their surrounding markets. Hence rugby is big in Cardiff and surfing in Newton Abbott.
There is no one brand that defines Tony Pryce Sports. Indeed, as above they have various brands to suit trading needs. Nor is there consistency in store size - they vary from 1400 sq ft in Minehead to 7000 sq ft in Exeter. I can think of some retail brand experts who would have a fit of the vapours at that idea. The brand standard they do apply across the whole business is a high level of customer service and staff training. Giblett says that this entirely sets them apart from multiple competitors whose staff "know where the product is but not what it is - and they don't always know where it is."
Giblett says that being a multi-site operator gives them advantages of greater buying power but it also notably helps with marketing, especially given their geographical focus on the South West which significantly cuts wastage. As well as advertising in the local and regional press they tend to go direct to the clubs and sponsor match balls and take perimeter boards. This is of course the very tightest form of targeting sports goods users. They do not, however, sponsor individual clubs - there are simply too many and it creates friction with those left out.
Adrian sees the strength of Tony Pryce Sports in their focus on customer service and this is reflected in their offering a broad range. As a case, they stock over 60 types of cricket bat. This of course doesn't make for easy stock control, but it does make for happy cricketers. The very fact of seeing those bats lined up will tell prospective customers that they are in the right place. On the other side of the coin, Giblett wants to see the company up its game in the area of developing contacts with clubs and schools. To that end they have recruited a specialist to focus on developing these relationships. Giblett does however stress the importance of nurturing business with clubs and schools. He says, "It's a lot of work developing contacts to get through the door, but once you're in it's easy to develop business." He also says that some clubs and teachers are unrealistic and make the process harder.
Staff training is regarded as a sine qua non within the company. It is of course one of the central planks of good customer service. Hence training on customer service and procedural issues is a weekly affair for everyone. Suppliers are encouraged to train staff on product detail and staff will go out of house eg to tennis centres for specific skills training. Giblett flags as a training issue the different level of need between experienced long-term staff and inexperienced youngsters. One size does not fit all.
Adrian says that the suppliers who are newer to market typically provide them with the best support. He instances Under Armour as a particular case. That said he also has had good back up from adidas. Nike come in for criticism - no POS back-up - although service has improved since a low point 18 months ago.
In common with many, Adrian really enjoys the business as a whole because the people in it are quite simply nice. His two beefs are, first, those companies who only ever call to sell in new product, providing no after-sales support and, second, those who go direct to the clubs - suppliers should not be their retailer's competitors. By contrast, he's a very big fan of Intersport; he says membership "has been a brilliant move for us."
Adrian's concerns for the coming year centre on the attitude of landlords. To date, he says that they are in denial: "they're refusing to acknowledge the recession." His hopes that trade will withstand these tough times are so far being rewarded; trade is holding up nicely. As part of their recession defence, they have reviewed all their overheads in the past 12 months and each part of the process has made a profit contribution which, collectively, is significant.
For new entrants to the business, Adrian says aim for modern, well-lit stores with up-to-date shop-fitting. Get accounts with big brands to attract the younger market and boost credibility. Don't be seduced by an expensive high street location - choice and service matter more.
