Golf Galaxy does not currently have a presence in big golfing states such as Arizona, California and Florida, so a lot of expansion could take place in those locales, says Randy Zanatta, president and chief executive officer. "We have a lot of growth ahead," he says.

Golf Galaxy has been on pace to open about 16 stores a year, but could bump that number up to 20, Zanatta says. One reason the company has so much opportunity, he says, is because the golf-retailing sector is fragmented, with the largest player only accounting for 4% of sales.

Plus, the chain should benefit from an aging population. "We really feel that golf will grow by the impact of the aging Baby Boomers," Zanatta says.