How much to open a Topgolf franchise?
Summary: Cost to Start a TopGolf Franchise. On average a TopGolf franchise costs up to $18 million dollars to build, however start up costs will fluctuate. One facility in Austin, TX was built for around $15 million while a new TopGolf that was built in Las Vegas cost over $50 million! If you are considering opening up a TopGolf franchise; congratulations!
Can You franchise Topgolf?
Usually, a franchise already has supplier and distributor relationships firmly established. Topgolf is no different, and you can take advantage of these from the start. The franchisor will offer you and your management team full training for all your Associates. Often the Topgolf franchise price covers the cost of these facilities.
What fees are associated with a franchise?
The Hidden Costs of Opening a Franchise
- The Franchise Fee. The franchise fee, also commonly referred to as the initial fee, is part of your up-front, one-time payment to the franchise when you sign up to become ...
- Building & Construction Costs. ...
- Equipment Purchasing. ...
- Material Sourcing Costs. ...
What is included in a franchise fee?
The average franchise fee is $34k, but varies heavily by franchise category. Franchise fees are meant to cover the cost of onboarding new franchisees. In return for a franchise fee, you receive training, the rights to use the brand, opening support, operations manuals, and more which we cover below.
How much does a Topgolf franchise make a year?
While a hefty sum to build, the average Topgolf facility returns roughly $21.5 million a year (adjusted for inflation). About half of that revenue is generated from food and drink, and the other half is made from customers paying for a Topgolf bay, for which they pay $30–$50 an hour.
How much do Topgolf franchise owners make?
According to Aria Group Architects, Inc., an average Topgolf venue is 65,000 square feet that is 3 stories high with an indoor and outdoor venue. A Topgolf owner's salary is also $58,000 per year according to one franchisee we spoke with.
Is Topgolf a profitable business?
Construction of a Topgolf venue typically costs from $10 to $40 million, and each venue typically collects about $17 million in revenue annually. Topgolf is profitable at the venue level as well, with EBITDAR typically amounting to about $5 million for each venue.
How many acres do you need for a Topgolf?
Topgolf facilities require about 13 acres (5 ha), typically in shopping and entertainment districts near employment centers, as well as specialized buildouts involving netting and poles rising as high as 150 feet (46 m). The latest sites employ more than 400 people, including part-timers.
Who is the owner of Topgolf?
Callaway Golf CompanyTopgolf / Parent organizationCallaway Golf Company is an American global sports equipment manufacturing company that designs, manufactures, markets and sells golf equipment, more specifically clubs and balls, also including accessories such as bags, gloves, and caps. The company also produces clothing through its subsidiary "Callaway Apparel.” Wikipedia
Who is Topgolf competitor?
TopGolf's top competitors include Salamander Innisbrook, Diamond Resorts, GameGolf and The Trump Organization. Topgolf is a golf entertainment venue.
Is Topgolf a good investment?
Lots of growth ahead Topgolf itself says it has the potential for 450 venues, and that doesn't include Toptracer range technology or media revenue. The 70 venues the company operates today are incredibly profitable, with construction costs of $10 million to $40 million and expected cash-on-cash returns of about 50%.
How much does Callaway make from Topgolf?
Last March, Callaway merged with Topgolf. Callaway already owned a 14% stake in Topgolf after an investment in 2006 and paid $2.66 billion in stock to acquire the rest of the company. Callaway expects an even better result in FY2022, with revenue projected to range between $3.7 billion and $3.8 billion.
Does Callaway own all of Topgolf?
With the acquisition complete, Callaway shareholders own 51.3 percent of the combined company and former Topgolf shareholders own 48.7 percent. Topgolf operates about 60 venues in North America.
Does Topgolf offer franchises?
Topgolf is already a tried and tested franchise opportunity. And, by following the franchise, you can be sure to make a lot of people very happy and make a good return on your investment.
Where is the smallest Topgolf?
This week, Topgolf debuted its first small-footprint location at a facility in Kirkland, Wash., just outside of Seattle. The facility looks nothing like the 105,000-square-foot behemoth you've come to recognize, instead existing in a 9,200-square-foot space within a larger building.
Is Topgolf expensive?
Here's how much a trip to Topgolf may cost you:-Topgolf's website says, in most locations, it costs $25 to play per hour, per bay--which can fit up to six people--before noon. From noon to 5 p.m., it costs $35 per hour, and after 5 p.m., it costs $45 per hour.
How much does it cost to start a Topgolf franchise?
Below is the summary of the cost of starting a TopGolf Franchise; On average a TopGolf franchise costs up to $18 million dollars to build, however startup costs will fluctuate. One facility in Austin, Texas was built for around $15 million while a new TopGolf that was built in Las Vegas cost over $50 million.
Why do golf franchises carry equipment?
Most Golf franchises carry copious amounts of equipment to ensure that players have everything they need for a great game. Your franchise will have specific build out and display options to secure the following items:
How many topgolf locations are there?
There are currently 57 Topgolf locations, 53 in the United States, three in the United Kingdom, and one in Australia. There are also 12 more locations under construction, 9 in the United States and 3 in the rest of the world (1 each in Canada, Mexico and the United Arab Emirates). Each Topgolf venue features climate-controlled hitting bays ...
How much does a Dunkin' Donuts franchise make?
According to CareerBliss, Dunkin’ franchise owners earn $124,000 on average annually, or $60 per hour, based on gross sales in the $620,000 to $1.3 million range. The national average for all franchise owners of any company is $60,000.
How much does it cost to open a Chick Fil A?
Even with its success, Chick-fil-A charges a franchise fee of just $10,000 to open a new restaurant, and the company doesn’t require candidates to meet a threshold for net worth or liquid assets. That’s cheaper than every major fast-food chain in the US.
Is TopGolf a good place to play golf?
TopGolf locations have revolutionized the sport by taking the serious level down a notch. Being good at golf is not a requirement to have fun and enjoy a lively atmosphere. Tasty appetizers, refreshing drinks and some fun music provide a delightful atmosphere while you practice your swing and perfect your game.
Is Topgolf a privately owned company?
At this time, the official website is stating that TopGolf is a privately – owned company with no current franchise opportunities.
How much does it cost to start a Topgolf franchise?
Summary: The Cost to Start a TopGolf Franchise. Typically a TopGolf franchise costs approximately $18 million dollars to develop, but launch expenses will vary. One facility in Austin, TX was constructed for around $15 million while a brand-new TopGolf that was constructed in Las Vegas had a final cost of over $50 million.
Why do golf franchises carry equipment?
Many Golf franchises carry generous quantities of equipment to make sure that customers have everything they would need for a fantastic game. Your franchise will have a particular build-out and display alternatives to secure the following products: together with a host of other golf associated products.
Does Topgolf Franchise?
The official line from Topgolf is that they do offer franchise opportunities but only through their international partnership program. There are however strong online indications that US Topgolf facilities could be franchised by getting in touch with Topgolf through their online contact forms.
How Much is a Topgolf Franchise?
It is estimated that an average Topgolf franchise costs around $20 million. It should be noted however, there is a big gap in individual franchise costs with reported figures of $18 million for a facility in Austin, Texas right up to $50 million for a Las Vegas Topgolf center in Nevada.
How Much Does a Topgolf Franchise Owner Make?
The average annual salary for a Topgolf owner is approximately $58,000 per year. On top of this, the owner also can expect to receive additional payments in the form of profit bonuses that the Togolf facility makes in any trading year.
How Much Land Do You Need for a Topgolf Center?
You would need at least 60 thousand square feet of land (or over 13 acres) in order to have enough space to build a Topgolf facility. The land must also be able to support a three-floor building along with the necessary space for parking lots and ancillary services.
Who is Top Golf Owned By?
Topgolf is owned by Callaway Golf in a takeover deal that was officially announced in October 2020 at a cost of an estimated 2.6 billion dollars. This new ownership is seen as a smart move by the Carlsbad-based business in order to further promote the brand to a new indoor golf-based demographic.
Topgolf Franchise Application Contact Process
So how do you get in touch and ask about Topgolf franchise opportunities in the US?
Are You Ready to Invest in Topgolf?
In this article, we’ve covered the basics of what you need to know about Topgolf and answered the question of is Topgolf a franchise? and how it can be a great investment opportunity for anyone in search of an indoor golf franchise.
How much does it cost to build a top golf franchise?
On average a TopGolf franchise costs up to $18 million dollars to build, however start up costs will fluctuate. One facility in Austin, TX was built for around $15 million while a new TopGolf that was built in Las Vegas cost over $50 million!
Why do golf franchises carry equipment?
Most Golf franchises carry copious amounts of equipment to ensure that players have everything they need for a great game. Your franchise will have specific build out and display options to secure the following items: along with a host of other golf related items.
Is TopGolf a good place to play golf?
TopGolf locations have revolutionized the sport by taking the serious level down a notch. Being good at golf is not a requirement to have fun and enjoy a lively atmosphere. Tasty appetizers, refreshing drinks and some fun music provide a delightful atmosphere while you practice your swing and perfect your game.
Is Topgolf a franchise?
At this time, the official website is stating that TopGolf is a privately owned company with no current franchise opportunities; however, if you do have 10 to 20 million lying around, you may wish to pursue this endeavor.
Why Open a Topgolf Franchise?
Moreover, there are 12 topgolf that are undergoing construction which 9 in the states themselves and 3 in the rest of the world like UAE, Mexico, and Canada.
Advantages of Topgolf Franchise
You will not have any problem with establishing this business franchise. As it is a household name in itself.
How to open a topgolf franchise?
Typically the topgolf franchise center is about 65,000 Square feet with 3 feet of floors high. That ensures to have an adequate amount of capitalization which includes an average initial investment of about $18 million.
How to Get a Topgolf franchise?
If you are okay with the requirements and finance-related information. Then you need to follow these steps below.
Things you should know about the Topgolf franchise
Topgolf franchise offers year-round entertainment with the idea of making pastimes more fun. The only requirement of the customer is to be good at sport. Because of this fundamental change, golf has become a prime source of entertainment for family and friends alike.
