Was PSE Broke when it was sold?

In a recent Pod cast the presenter suggested PSE sold because it was broke. I thought this was an interesting insight. The presenter suggested at the time PSE was sold that they had issues shipping.
I discuss my view on this topic and my view on how PSE at the time of sale. I discuss my purchases from PSE. I discuss the CEO changes and other changes PSE made leading up to the sale of PSE.
I discuss things Pete Shepley tried at PSE to increase sales and to increase the number of archers in the sport.
I discuss why I think Pete sold PSE instead of handing it to a family member.

[@michaelpoplawski3246]

Keep us posted Steve. If PSE drops you as a result of the candor in your post, I will have to take a hard look at Darton, Prime, Mathews, etc. for my next bow purchase.

[@Yourmom-u7q]

Agreed

[@stevedaughton7247]

Daddy retires=clueless entitled kid takes over=slow death of great business...⏳⏳

[@user-re3ki1qw7m]

Exactly. Common occurrence everywhere these days.

[@jamietwigg5152]

The kid only took it over during the late 90's when Pete wanted to go play with his Mig. The family now has nothing to do with PSE.

[@greekmaster1001]

100%correct and true

[@mikeobrien3590]

I am proud of the PSE bows I shoot, they may be a few years old, but recently purchased a PSE Stinger after watching your videos and seeing how adjustable and ease of use. For me, PSE has always been the best value for money when buying an American made bow. I appreciate your honesty and truthful unbiased videos. I will continue to support people like you that are promoting the sport of archery regardless of what association, bow type or shooting style you choose to enjoy. It’s always great to hear you supporting the Archery community 😊

[@maxschell8823]

As a one time regional industrial sales manager for three different companies over many years I can tell you that being both candid and honest may not be the best policy in politics. I reached a point late in my career where I would tell the unvarnished truth. In one case that got me FIRED!!! As the old saying goes one door closes and another opens. That is life!

[@LancePostma-ry9mc]

Lonnie Workman was a Southwest USA sales rep. When he changed to the position you referenced, he immediately chased after the big box store base, and ended accounts with a whole bunch of us established small shops (18 years with them as a pro series dealer) and just basically cut us off from supply. Our internal contacts warned us that there were big changes coming. I haven't been stocking or selling any (not a single bow) from PSE for the past 5 seasons. I told the new rep for my area that I wasn't interested in their product line unless they took away the pro-series dealership for the 60,000sf box sporting goods store in town, as they have a perpetual 20% off sale to anyone who walks through the doors.

[@gibsonlife573]

This is the exact problem with the way people think today complete bulshit they done that to you bro

[@jameshendy8430]

Good work Steve and lets hope PSE stay in the picture and continue making good bows.

[@justiceforall8574]

YOUR CONTRIBUTION TO THE ARCHERY HOBBY IS WELL RESPECTED & WELCOMED.PSE DROP YOU THEY DROP THE HAND THAT FEEDS THE MOUTH.BAD MOVE ON THEM.

[@davidjensen2411]

PSE _used to be_ the best value for money... Now the Chinese are. Inflation sets a timer - *And nobody beats that clock!*

[@stevenhann-onkaparinga5764]

It absolutely was. It was a meat and potato bow line. I would sell a Supra at 1/3 the price of a Hoyt. I would beat Hoyt shoots with my bow 1/3 the price. I think funding the Nock on era pushed up prices in line with other bows. Yes chinese tend to offer what you want they put it in kits which make it quick for me to sell. They add more range, colour and choice. The quality improves. Yes Chinese for me has taken alot of that market the begineer line. PSE use to buy in China and still do to compete. So dealers had cheap bow lines and the back up of PSE. It was very much buy everything of PSE back in the old days, Sights, Arrows, quivers, Stabilizers. It was what Martin Archery was in the 1985 era.

[@NPC-fl3gq]

Democrats printed trillions of dollars to fund several new wars, plunging the working class into the working poor. Not everyone is competent enough to vote IMO.

[@VirgilWilliford-m2c]

There is absolutely no value in anything Chinese made! I do my best to not purchase anything they sell, definitely not anything I don't have to daily have! I will never own a Chinese made bow and that's a fact!

[@johnnewcomb5162]

95 percent of the stuff in most people houses are China made, toys dishes coffee maker ect. There's no way around it, they run , own and make everything for everyone in the USA. When stuff hits the fan, USA will find out just how control they are by having nothing available for it's people. The USA relies on China for everything.​@@VirgilWilliford-m2c

[@TheKungFuCrocodile]

750k, I would be surprised if it was that low, the machining tools alone would be worth way more .

[@bnelsonmedia]

He said the land was sold for that, which may be the case, but the actual business would’ve been sold for a lot more than that.. like you said, the tools alone, but the brand itself is/was worth millions

[@waynestevenson9613]

It could be that the property was sold for unpaid taxes or liens against it at auction but I highly doubt that all of the tools and inventory went for that much also. Who really knows??? they may come back stronger when the dust settles!

[@LancePostma-ry9mc]

22.13 acres with two large manufacturing buildings in downtown Tucson... that would be worth a few million dollars alone, then add all of the machinery they had for making bows, strings, computers, etc... 2000 square feet of commerical curently lists for $1 million, 7,000sf industrial space selling for $1.3 million, with no additional acreage or machinery.

[@simonschuh5283]

Sounds like a great time to change to recurve .

[@jasonwatson2679]

FEARLESS!!! Keep it up!!

[@tomtolentino7575]

I started shooting PSE 15 years ago. Have met Pete on numerous occasions with old friends that knew him, and at that time I thought this was a a close knit family situation. This was the Brand I was sticking too for a very long time……up until the news of the selling of the company, which unfortunately was sad to me. Any bow that I have in my collection prior to the “ New Ownership “ is now considered a classic collector item in my eyes, because of the quality, and support of Pete’s company during that time period. Pete was One Of A Kind person that really took care of his customers, and I was fortunate enough to experience such quality, and support from him, and his staff at the time. Thanks Steve for your post 😎🙏👍🇺🇸🇵🇭🇺🇸🇵🇭🇺🇸🇵🇭🇺🇸🇵🇭🇺🇸👍

[@stickboy6772]

you started with stating you prefer not to get dropped, and end with indifference. does not make sense. I can only imagine what it took to grow your business, and your videos are always something i enjoy. Business is so hard with so many dependencies and no loyalty today. Just ask Tim and Kyle. Best of luck. If PSE doesn't work out, there is always Mathews.

[@WildLifeOutdoors413]

You gotta get Prime Archery Bows. I had a Matthews bow for a long time I switched to Bowtech for 3 years then dropped them in went to prime. Best thing I ever did was go to a Prime bow

[@doughosig6798]

feel bad for Pete. remember years and years ago when he started and worked his butt of to make it grow.....but times change; new people, new ideas, and decisions made without any knowledge.. thanks for all the good years Pete

[@SargeNurseOffRoading]

Maaate …….. I’m dizzy and that’s not because i watching in 2x speed even though I could understand what you were saying you seemed to be going around in circles so that’s where the dizziness comes in. Are you that obsessed with PSE? I only say this as in the past you caused a stir with the sale and the mystery surrounding the new owner and how much you enjoyed the old owner and CEOs but now you are giving us insight to politics of how the company became sold and the internal infighting you seem to assume. I’m all for PSE and yes the new owners have been slow on the uptake I just really didn’t get your point of this topic or what you were trying to convey. For your situational awareness I’m a long time subscriber and visitor to your shop and loved that you have introduced myself to archery with your other videos.

[@mrrcassidy]

Could be worse. I had a busy website selling specialist maternity products. One by one, my suppliers became my competitors - effectively getting retail margin on top of their wholesale margin. One had the decency to tell me, two others didn't. It's life unfortunately - ended up reinventing myself and suspect I'm about to have to do it again.

[@greekmaster1001]

Do you think the freight charge was according to value of bow and insurance? No matter what PSE did you dirty

[@lastnovicewins]

PSE will do just fine. This rant, because they wanted to have another dealer in Australia, is in very bad taste.

[@glenn43569]

yes

[@lastnovicewins]

@@glenn43569 And I admired and liked this man's videos. Hence I took the effort to write these two comments.

[@ccleadge]

Pretty normal tbh. There are a lot of good shops here in Australia, some of which get along and help each other. I have a bow from Steve which was a warranty replacement on a carbon air(authorized by pse Australia) which he won't provide me parts for (asked for c clips), because i dont have a receipt for the bow.

[@philliplee1193]

Well I’ve got Hoyt to thank for my T Bow yet for the most part I always liked PSE pricing and products better for where they stood in the market.

[@danielpack388]

I have 2020 evo nxt33 and drive 3bxL. My local pro dealer was shut down this year and couldn't get bows, or parts. It sucks but Love both bows... recently got a n Elite bow. We will see what happens

[@paige2732]

Just bought a mattews after watching all your pse drive videos. And wanted a pse. but bought a left over v3x instead. Because I can't buy a bow from a company that just got sold. They have to organize the business now.

[@nmtidefan4735]

Great content but I would question the value of the company at 750k?

[@gibberpl1]

...and rest of this BS he said

[@TheOrientalHero]

nah, Steven said the land the factory/business was on was worth 750K, the business name/machines/factory etc - he said he had no idea.

[@Jeffry-e5j]

In that area of Arizona, property is not that expensive. However, the tools are worth a lot but who are you going to sell them to? Steve turned me into PSE some years back. Love them. We'll see what happens. My 2018 Response is shooting like it did on day one. I'm wanting a Mach 34, just can't afford it now.

[@jcscustomarchery8247]

As a dealer I have seen pse cover a dry fire. Pse was tough to sale every shop that I’ve been in the country. I had a hard time trying to push them.

[@azcoueshntr]

Try getting parts. You can’t. Waited 6 months for a string stop, never got it. I called PSE they said I had to get it through a dealer, went to the dealer, they ordered it, got the wrong one in and finally I just gave up. PSE is basically done. I have 4 PSE bows….kinda screwed.

[@JorgeSilva-kv3hk]

Literally got a ec2 cam replacement under 3 days but okey😂

[@azcoueshntr]

@@JorgeSilva-kv3hk were you able to order it direct? I had real bad customer service through the factory here in Tucson. The “pro shop” really only seemed interested if I wanted to drop several grand on a new Matthew’s. That’s good to hear, thank you.

[@JorgeSilva-kv3hk]

​@@azcoueshntri went through a dealer.

[@JorgeSilva-kv3hk]

​@@azcoueshntrwho robinson archery or stick sniper? There is a little store in sierra vista. Crockett (something) he is a super nice person he can help you

[@azcoueshntr]

@@JorgeSilva-kv3hk thanks

[@3vo408]

Shot PSE back in the 80s and 90s. Popularity can be regional. Strong here but Hoyt, Mathews and Bowtech are the ones now. Knew PSE was on the way out even before the Bowmadness models.

[@brokenarrow6491]

Uh no

[@madman432000]

Do you think there were improvements to PSE bow line after John D joined them? Seemed to me like more innovative bows were being developed after then. I have a Vendetta that I still shoot and was considering a new PSE bow last year but that was right after they sold and I was shy about getting an orphaned bow if the company folded.

[@rozianabintimohdrazi5578]

Hi can u do an review on the ramrods ultra v4 ive been really interested in getting them and wanted ur opinion

[@martyadams3915]

Pete was the brand. Hard working ready to go and available personally even to small mom and pop shops. Once he got burned out and needed time off the brand went with him. Its a common story and ther is no clear answer to fix it. Without a cloned groomed person to take the brand when the original is tired the business will suffer every time.

[@mattb383]

Marketing is king when it comes to everything. Marketing controls perception which becomes reality. If a company doesn't spend money on marketing, they will when they post the going out of business sale. Marketing works so well it can get an idiot in as the president of the US.

[@TheMmapirate]

Damn it..i jus bought the evo ntn...and my son the mini burner..before that was bear..think im getting rid of it all and going to mathews

[@TruffulaSteve]

NTN is a killer bow. No reason to get rid of it

[@TheMmapirate]

@@TruffulaSteve it has been a good bow..

[@ccleadge]

They are both good bows, nothing wrong with either of them.

[@gibsonlife573]

I'm telling you right now if they don't look at you and how long you been in the industry and how much money and revenue that alone you by yourself has turned over for PSE and if they drop you they be the craziest company on the earth and I agree 100% that company should have been more 40 or 50 million

[@elncalls]

PSE is this group’s first acquisition. There will be more they take over, be sure of that. Just think of all alone companies making your favorite broadhead, release, tree stand, arrow, etc. If they grow too big and make good stuff, but can’t hold on, this group or another will buy it. Seems to be the growing trend in the archery world.

[@stevedaughton7247]

Lonnie won't cut you, he's probably sipping a latte, scheduling a sensitivity training exercise for you to watch...😆😆😆😆

[@user-rw2rm7pm3l]

All bow companies are pricing themselves right out of business because the average person is not going to spend over 1000 dollars for any bow no matter what brand it is especially when they give the pro shooters free bows and a salary. Somehow they need to find a way to cut cost to bring in new people that look at the cost and go wow I can buy 2 custom rifles for what a new bow cost. There is a such a thing as pricing yourself out of business

[@knightrider6473]

What's your best selling hunting bow?

[@wcwcgarner2717]

I think PSE is a good bow. But i think when Pete was going broke in the end.

[@Atrociousnes]

It's been 10 days anything

[@Bowguy_44]

For years I always thought pse was ugly and I was not a speed guy. Then right before Dudley signed is when pse started catching my eye. An probably 60percent of the reason I bought my first pse was because of Dudley .. The new owners are stupid for not giving him the keys to do what he wants, an will run it into the ground ,I’m selling it after this hunting season.

[@Muskiehunter92]

I dont hate dudley but I dont get peoples obsession with him. He was a mediocre target archer and a decent hunter. More than anything, he is an influencer. I couldnt care less if he has any say in a bows design... He is not an engineer. Now, if you put some of the worlds best and most mechanically inclined target archers together to throw ideas around, I would certainly listen... but dudley alone means nothing from a mechanical aspect. Bowtech essentially collaborated with tim gillingham, paige pearce and kyle douglas to release their reckoning gen 2... which was in a class of its own regarding new tech... that bow caught my attention, but bowtech did them dirty so I am not throwing any support behind the company at this point. All dudley seems to do is throw his logo on a bow PSE already makes and changes some very slight things on it to call it his own nock on line... but I guess sales come with his name so companies want him. Its probably much of the same people that buy into ultraviews marketing... but I do not fault the companies for wanting certain names for sales. I understand its just marketing... if companies can trick someone into spending money with them because of someone's name, thats on you, not the company.

[@kengunnett2017]

Why don't the just add a anti derail clip to cams?

[@tirocomarco]

❤

[@Alan_Edwards]

Seems to me PSE had an opportunity to turn a much bigger profit and grow the brand and company but for some reason did not. Well not to the level you are thinking they should have. I don't blame that on the economy as a whole, I lean toward bad business decisions. They were always priced competitively, well here in the states anyway, and they make a good product, so what else could it be? Not everyone has the knowledge it takes to get to the next level.

[@jolookstothestars6358]

I've owned a PSE Bow Madness for several years now. Why has PSE always been treated like a lower class bow maker?? I don't really understand it.

[@jamietwigg5152]

Because they didn't start another company to sell in big box stores.

[@loganroberson6558]

​@@jamietwigg5152???

[@jamietwigg5152]

@@loganroberson6558 They sold to big box stores under the PSE brand, unlike Bowtech who sells to box stores under the Diamond name. Same reason people see Bear the way they do.

[@Matto_Harvo]

I support Steve. Eff PSE

[@paf1474]

Hi Steven, I was just notified Aramex is reducing their shipping sizes down to Aussie Post's 105cm max. Where to now for shipping bows in Oz?

[@liamboyle9199]

Well this might suck...

[@lloydwellington5271]

So, they sold the property for 750K, to whom? Sell it to a newly formed land management company, Lease it out to the new business owners for ???. Leaves them with more cash to infuse into a new venture. Just to fail in a few years. Then buy it back for pennies on the dollar. I'm sure PSE will be fine, just not quite sure who will be at the helm if 5-10 years.

[@laurelstromer4041]

If Pete was brought back in, then his kid was unqualified to run it. Then he tries in-house, tenured employees who are also not qualified. He burns out trying to find someone like him and sells. Their issue now is, will the new group find anyone as passionate about the industry to lead it? Someone already mentioned in another post this is this group's first acquisition? LOL... Wow. Sounds to me like Pete should've selected Steven as CEO. When one of your lead engineers is asking a dealer who's shown loyalty to the brand for more than two decades what needs to change, that's the person with front-line experience who knows the market and what people want PLUS he's got experience on the financial side of the downstream portion of the business. Sorry Pete. You're mini-me lives in Australia and IMO, you made the wrong choice with a successor.

[@jamiehess6512]

Man is going to mess up with tournament shooters and crossbows , hunters

[@waynestevenson9613]

The new PSE ownership and you are stuck with an albatross! Obviously they don’t know what to do or how to do it!

[@jamiehess6512]

John Dudley went back to Hoyt don't know what happened there

[@lawrencefranck9417]

John took the cash and ran. He stated he came in to get the company sold…

[@jamiehess6512]

He wasn't long before he started doing previews on Hoyt bows

[@lstavenhagen]

PS: the #2 rule of American business is: defund and discontinue every profit center in your company, and put all its resources into a new or existing cost center in your company. They think this is bold action to grow new markets, or something like that, but it's basically just the modern American business model - loot every pile of cash you can find until it runs dry, and then sell out and head for the hills before investors and stakeholders figure out they're being robbed. Again, why American business is like this is a long story going back at least 50 years, but that's just how it is here. PSE was probably just another victim...

[@nathangross7216]

This just happened to the great American company I am working for. the previous owner, which was the son of the founder took over when he died basically ran the company into the ground, took all the money that they could and sold the company on lies and the perception that it was a successful business.

[@davidarrieta3995]

Pete’s son wrecked the company. That’s why Dudley left and they’re broke.

[@Tradhunter]

PSE had to be sold for millions , machinery, building, land , and the cost of PSE brand , not to mention what company generates annually. All these factors are taken into account. Anyone who thinks it was sold for less than million doesn’t have a clue.

[@charleszielke2634]

PSE annual sales is over 40 million. No way it sold for 750k. PSE will be just fine. They make the only carbon bow produced in the US, not to mention the quality is way better than whats coming out of China. PSE makes a high quality product, with proper marketing and customer service their best days are ahead.

[@mrrcassidy]

Any prat can do turnover. It's profit that counts.

[@leonardeswoodfera7277]

Young Paul Harris Ruth Harris Mark

[@KristieAllen-h2e]

Rodriguez Helen Gonzalez Helen Smith Michelle

[@brianlew9559]

I want them to succeed, and made a personal decision not to buy communist products whenever humanly possible. I know this for sure: no one is being hired for key engineering positions at PSE that need very much to be filled, and the parking lot never seems to change in terms of activity or attendance. It's stale and I worry for their future. But they'll get my money as long as I can get their products and I'm pulling for them, truly, to make it. Easton and PSE, that's it for USA manufactured carbon archery products.

[@loui9102]

🏹🦃🦌🇺🇸

[@gc78aus]

They just lost their identity as a Brand.

[@whiplash..777]

Pse is disloyal ? Wow

[@brianhorton1721]

Alot of in between talk just to say , no PSE wasn't going broke , I like watching u Steve but I think u talk to much about other stuff than the topic at hand, you like to just talk 😂

[@TomD-yx3yl]

PSE Pete Shepley Enterprises Pull Shoot Explode Pretty Shitty Equipment :)

[@dougk5]

Grow up

[@amarotovar7256]

Dudley so overrated he goes w the wind

[@donthornton7528]

I fell sleep twice on your speak can you make a short conversation

[@crowiesnest]

So thats why John Dudly switched back to Hoyt ?

[@Bowguy_44]

Dudley came in to boost and help make a smooth transition of the sell of pse.. His good friend who he use to shoot with is now the president of Hoyt. So he went back. I’m sure money has a little bit to do with it aswell. IMO the new pse owners should have gave him free rein, he was keeping pse relevant.