Rapid expansion, with no clear need for it, is almost always a recipe for certain failure. Just because you can, does not mean you should and with outside investors you get the urge to expand followed by the regret that follows quickly if sales and profits do not soar. Then the panic sets in, as the investors demand fast action or bailout by selling their interest. The next group has no skin in the game and only is interested in getting as much money out of it as they can, as quickly as they can and if breaking it up looks more profitable than fixing it they are going to break it up or sell it off.
Gander Mountain, Cabelas, Bass Pro shop have all gone through a expansion period and now need to figure out if they can make it at this size and do they need stores where they built them. Gander Mountain figured out they can't. If they are smart they will close the stores which are dogs and be more cautious in future expansion. With the decline in hunting a market saturation has long been achieved. If fishing follows the decline in hunting, which it almost is certain to do, any growth in outdoor activities must come from camping and hunting.
Millennials don't do outside too much. Old farts still hunt but we are getting long in the tooth, so hunting interest is rapidly in decline, in many areas. Places I use to duck hunt, in my youth, which had 20 groups hunting them now only have four groups. Sometimes not even enough pressure to keep birds moving. Fishing is the same but not to that extent yet. Even Golf is feeling the decline in interest. Adjust to the market or become the next Gander Mountain.
