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2019 Young Retailer of the Year: Morgan Godfrey

Morgan GodfryMorgan Godfrey

Part Owner and Retail Manager
Select Source
Kimberly, Idaho

We help fellow businesses because I think I live in the best community on earth, and I want to do anything I can to make it better.

As part of a father-son duo running the family business in Kimberly, Idaho, Morgan Godfrey has shown a natural aptitude for what it takes to be a successful retailer. His father, Lance, started Select Source in 2009 in the midst of a nationwide economic downturn. When Morgan joined his father a few years later, he didn’t have a lot of training in the business. But he was a fast learner. In 2016, Morgan’s father put him in charge of the entire store.

One of the areas where Godfrey has made the biggest difference is in employee training and retention. After noticing employee turnover was high, he developed a detailed program that included having new employees spend time with veteran co-workers so they would be trained in departments across the store. He also started monthly employee meetings, which include a consistent training element. Training has contributed to an uptick in the store’s average transaction size and has significantly increased employee retention.

Select Source has a strong following among contractors. To increase his product offering with those customers, Godfrey and his father added a fully synthetic stucco line. Sales in that category have grown exponentially over the past three years. He also built a training center to demonstrate proper installation techniques, positioning his business as a reliable supplier and training resource for pros.

Godfrey has also been instrumental in making the DIY shopper feel more welcome at Select Source. At the end of 2017, he directed a remodel of the building. Simply by making more efficient use of his building, he was able to gain 174 linear feet of display space, which allowed him to expand some of his core categories and broaden his selection of power tools. Plumbing, electrical and paint continue to drive sales at the store. Since the store opened 10 years ago, it has averaged a 15 percent increase in sales nearly every year.

As a local retailer, Godfrey believes he owes his success to the community around him. He joined the Kimberly Business Owners Association (KBOA) so he could help expand the town’s center of commerce. He joined other local businesses to coordinate their advertising to make it more cost effective. He also participates in KBOA’s gift certificate program, which was created with the goal of boosting local shopping. Certificates can be used at any business that belongs to KBOA and have become popular gifts in town.

Godfrey’s labor has paid off. Since the store opened 10 years ago, it has averaged a 15 percent increase in sales nearly every year, and Godfrey continues to find local products to boost sales.

About Jesse Carleton

Jesse Carleton has visited independent hardware retailers, conducted original research on the industry and written extensively about the business of hardware retailing. Jesse has written for more than a dozen of NHPA’s contract publishing titles, all related to the hardware retailing industry. He also was instrumental in developing the Basic Training in Hardware Retailing courses now used by thousands of retailers across the country.

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