A Little History
The original idea for TournEvents (originally WhyNotGolf), was thought of by Brent Haworth about 7 years ago. His concept revolved around the need for a search engine that lets users find nearby tournaments to play in. He was part of a group that always wanted to play in a tournament, but there was not a single place or website to find them. If you’re familiar with golf, charity golf tournaments (scramble tournaments), are a much more enjoyable experience. Even if you are not that great at golf.
He brought his idea to his longtime friend, Donovan Wells, as Donovan owns and operates an Orlando based development company called Depeche Code. Together they started developing a platform that not only was a search engine for golfers to find golf tournaments to play in, but they also started to incorporate many ways to speed up the process for Tournament Organizers to run their tournaments. At that time, one could say that the majority of Tournament Organizers would simply accept paper checks and try to keep track of the players/groups, on a spreadsheet. The building of the initial concept took many years. Partly because of A/B testing as well as feedback from some Tournament Organizers. But also because it was an idea that they had been working on part time. They then decided to get more serious about the project.
About two years ago, both felt the need to enhance the branding. As when discussing the business with people, the main question people would ask was “What does WhyNotGolf do?”. That’s when they lucked out and found a company selling their name and likeness. The likeness to TournEvents was purchased and they were now ready for a full overhaul and rebrand.
Two years later, the full rebrand has not only been finished, but the entire platform was rebuilt from the ground up to incorporate a sleek new design and user experience. As well as many other new features added for future growth and data connections for Tournament Organizers and golf courses. Automating many of the processes needed to run a golf tournament.
Market Size & Potential
If you’re unfamiliar with charity golf tournaments, the possible revenue is astronomical. There are over 500,000+ golf outings that are run in the U.S. every year and growing. TournEvents charges a $3.99 Convenience Fee per player that orders on the tournament’s TournEvents details page OR is managed in the Player Management area for the Tournament. On average, a tournament has about 80 players, so that’s a profit of around $350-$400 per tournament.
The goal of the project is to turn it into a $100,000,000 company OR more. Or sell it for $100,000,000 or more.
One could also consider TournEvents a residual type of business, as there is a high rate of return for tournaments that come back year after year to use TournEvents, as all past tournament data is saved.
Total Market Opportunity
$159,600,000*
*500,000 Tournaments x 80 Players (avg) x $3.99 (Convenience Fee Per Player) = $159,600,000
Initial Focus: Central Florida Market
$1,149,120*
*120 Courses x 30 Tournaments Each x 80 Players (avg) x $3.99 (Convenience Fee Per Player) = $1,149,120
The Core Features
Over the years, TournEvents has packed the platform with many features for Players & Tournament Organizers. As well as their upcoming release of Phase 2 for golf courses (which is a game changer). The core features are as follows (feel free to click the buttons for more info and videos):
Our Phase 2 Release
This is the game changer that we’ve been waiting for! With our Phase 2 Release, TournEvents connects tournaments to golf courses like never before. TournEvents offers Golf Courses access to their Course Portal for free, giving them features they’d normally have to pay for from other providers. In return, these courses will now refer all tournaments ran at their course to use TournEvents to get the full benefits of their Course Portal. The core features of Phase 2 are:
Operational Costs & Debt
The GREAT thing about TournEvents is that it has ZERO debt. There are only small bills to the current development team for some minor upgrades. The hosting costs/expenses are about $140 a month and that’s it.
User Satisfaction & Growth
What we have learned from all of our recent updates and upgrades is that users love to use the platform to host/run their tournament on. As well as the growth that we’ve experienced over the past year. We’ve been told our platform is very user friendly and it’s not uncommon for a user to tell us that we are better than other similar services out there.
The Investment
And this is the big question! TournEvents is looking for a $150,000 investment for 5% of the company broken up into three $50,000 payments over the next year and a half/two years. We already have one commitment and are with looking for one investor who wants 10% (at $300,000), or two investors who want 5% a piece ($150,000 each).
If you have any questions or if you’re interested in learning more about our valuation, along with the absolute plan for your investment. Then it is best to discuss this on a Zoom/Teams Meeting with both the Founder Brent Haworth and Co-Founder Donovan Wells.