Founder and CEO, The Grocery Game
www.thegrocerygame.com
Love a good bargain, especially when you don’t have to spend too much time in order to save your money?
Then you might like to know Teri Gault, founder and CEO of The Grocery Game. Coupon cutting became a way of life for Gault during some tough financial times, when she struggled to find the money to buy groceries for her family.
Then she turned her bargain hunting into a business. The Grocery Game tracks manufacturers’ coupons along with weekly store sales and specials, and publishes lists for subscribers with information on what products are being offered at the best prices. According the company, tens of thousands of members log on each week.
From Happy Days in Hollywood…“I was working as a singer in Los Angeles and doing coupons as a hobby when I got married in 1980. For two years, I also worked as an actress on shows like Happy Days and feature films.
“The ’80s were great. My husband had a six-figure income, even into the early ’90s. We lived the lifestyle of the rich and famous, with an airplane, helicopter, motorhome, boat, etc. As a stunt coordinator, Greg would bid on films and TV shows, and in most cases secured the work, which could last for months. But in the late ’80s, he began to lose bids to productions that had to go to Canada.”
… To Desperate Times at Home
“In the meantime, I began to take on more work in music, performing in a children’s group called JP Nightingale, teaching private music, and teaching music in schools. I also wrote grant proposals for non-profits.
“By the mid ’90s, Greg started a welding business, building horse corrals out of oil pipe. This was hard labor for a man almost 50 years old. But it brought some money in, although not enough to support our previous lifestyle. At a certain point, we realized that we would have to find another way to make a living.
“By the late ’90s, I was feeding my family of four (husband and two boys, then ages 14 and 7) on $35 per week and rolling coins to pay for groceries. I was putting together research each week on how to get the best deals at the supermarkets, and started realizing I could turn this into a business.”
Starting from Scratch
“I got a Web site, even though I was so broke I couldn’t afford a Web site. My husband happened to hear a commercial for a company that was offering to host sites for free. At that point, I didn’t even know how to do e-mail myself. I went from the frying pan into the fire.”
Scared to Spend $65
“I built my own Web site and test marketed my business concept with five people who didn’t cut coupons. They loved it. So on my 40th birthday, I got my business license and we had quite a celebration. It cost $65 for my business license and it was scary to plunk down that money. I spent $15 on a local ad that ran for two weeks. People flocked to the site, and by the fall of 2000 I was getting so many requests from all over the country for access to my lists, that I realized I needed to standardize the business across markets.”
Inviting More Players to the Game“We got involved with an attorney, but it took until 2003 for our company to become a franchisor. By that point, we had a long waiting list of people from all over the country who wanted to invest with us. In February of 2003 we were in two states, California and Arizona. Now we’re in 47 states.”
How Her Life Changed for the Better
“The business has definitely changed our lives. We’re now living in a neighborhood that is my dream community. Our property has oak trees and a stream – I’m so grateful that this is where I am. My 20-year-old son is a professional baseball player for the Minnesota Twins’ minor league. Years ago I never would have been able to afford to travel to his games and see him pitch once a month like I do now.”
Growing Pains“I have been so busy chasing cows, I don’t have time to build fences. When your business grows, you’re hiring and training people fast because you don’t want to pass up the opportunity. Right now we’re trying to make sure we have enough part-time people who could be ready to take a full-time position if an opening becomes available. We hired three people last week and have 23 employees.”
Greatest Challenge – Self Preservation
“Not killing myself. During the first year, I worked 60 to 80 hours a week, seven days a week. At the end of the year, I figured out that I had made 87 cents an hour. I had to make a change the next year. I had to say, ‘I have to trust that I can afford to hire people.’ You can only stay on top of that cycle for so long.”
De-Stressing Secrets
“Each morning, I take my son to school and am at the gym by 7:30, home by 9:00. I sit under my oak tree and read Psalms and Proverbs every morning. Psalms gives me perspective and I read Proverbs because it gives me wisdom daily. If I skip this step, I usually have a terrible day.”
Greatest Success – Company Culture
“I’m surrounded by people in this company who blow my mind. Every employee, every franchisee, is a dear friend. They’re excited about the company. They have an energy that I don’t think I created… I almost think it’s divine. When I’m having a bad day… I share it with someone in the company and they’re such an encouragement to me.”
Words of Advice
“Know that change is imminent. Look at it as an opportunity to grow and improve. Sometimes we dig in our heels and are afraid of change. When you see the competition doing something new… look at it and say, ‘Gee, that’s great. What can I do that’s better?”
Recommended Resource – Take Your Reading with You“I read the business sections of three newspapers everyday – anything that has to do with business, the Internet, software, groceries. I like reading newspapers because I can throw them in my car and get to them when my son is at baseball practice. Sometimes the papers stack up for three days, so I will take them with me when I have to wait somewhere.”
Life Beyond Work
“Fortunately my husband works with me full time. He is so supportive of saying to me, ‘Shut down the computer, it’s after 5 o’clock.’ He really cares for me that way. As women we have the ability to run ourselves into the ground… we’re servers and doers. We have to make it a priority to take care of ourselves.
“My 13-year-old plays football, basketball and baseball. He throws harder than his brother did at his age. We have a batting cage in our yard, my husband works with him and I’ll pull up a lawn chair. Why do we work so hard if we can’t enjoy what we have? We’re all working for the reason of enjoying life, right?”
