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 owner make?
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 profitable is a Topgolf?
Topgolf generated approximately $1.1 billion in revenue in 2019 and has grown at a 30% compound annual rate since 2017....Press Releases.($ in millions, except EPS)2020 Q3 EstimateYear over YearAdjusted EBITDAS*$87 million+53%2 more rows•Oct 27, 2020
Is Topgolf a profitable business?
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?
13 acresBy comparison, Topgolf's existing facilities have cost $15 million to $50 million, and need a minimum of 13 acres.
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%.
Who owns 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
Does Topgolf offer franchises?
The brand was founded in 2000, and the first franchise was launched for sale in 2005. Today Topgolf franchise opportunities are well appreciated by 64 franchisees who are sharing the concept not only in the USA but in other countries. The core values of the chain are caring, excellence, fun, and team spirit.
What franchise makes the most money?
According to the Franchise 500 list of 2021, Taco Bell is the most profitable franchise to own. The food chain has been franchising for nearly 6 decades and is still seeking franchises worldwide. As of 2021, they have 7,567 open units.
Who is Topgolf competitor?
TopGolf's top competitors include Salamander Innisbrook, Diamond Resorts, GameGolf and The Trump Organization. Topgolf is a golf entertainment venue.
How many Topgolf locations are there?
Borne out of innovation, the first Topgolf venue opened in 2000 in the U.K. Since then, our technology-enabled venues have grown to over 60 locations around the globe, including owned and operated venues in the U.K. and the U.S. We serve more than 23 million Guests each year and welcome people from all walks of life to ...
Is Topgolf publicly traded?
Remaining privately-owned during those two decades, the company built locations in every region of the country. Topgolf began looking at an initial public offering in 2019. In that time, Topgolf's value grew to equal that of Callaway, a dominant name in golf equipment and apparel.
How big is Topgolf?
By all accounts, the average range at a TopGolf is 250 yards long, and the net is 150 feet high. This means the drive was not only long, but WAY out there, with enough height to clear the net.
How much does it cost to open a topgolf franchise?
The cost to open a Topgolf franchise is around $18 million. However, the typical cost to build an average franchise, such as the Austin Tx facility, is about $15 million.
What are the advantages of starting a topgolf franchise?
Advantages of starting a Topgolf franchise include: Your Topgolf company already has a household name. You won’t need to work hard for brand recognition. You will have no problem finding financial backing for your venture when using an established franchise such as Topgolf.
How much revenue does Topgolf generate?
Topgolf generated about $1.1 billion in revenue in 2019 after having grown at a 30% compound annual rate since 2017. Recently (April 2021), press releases stated that Topgolf and Callaway are to merge to create a leading global golf and family entertainment company.
How much does it cost to build a topgolf course?
The typical US Topgolf venue costs around $18 million to build. And if all goes well, yours can be like other locations and recoup this in about two years. As of 2019, there were about 30 locations in the US, with more opening up all the time.
Is Topgolf for kids?
The only requirement is the ability to relax and have fun. Because of this fundamental change, Topgolf is suitable for all the family, including the kids. Tasty snacks, refreshing beverages, and fun music generate a fun-filled party atmosphere.
When was the first golf club in the UK?
Originally, the first venue started in 2000 at Watford near London, in the UK. The movement decided to leave the elite golf club environment behind. And, in its place, create a sport for all the family to enjoy while socializing and playing golf together. And, even better, it doesn’t matter how unskilled the player is; they will always have fun and never feel intimidated.
Is there a golf franchise that has a lot of equipment?
Most golf franchises carry plenty of equipment; some would say too much. The idea is to give your Guests enough for a great game. A Topgolf franchise has a specific inventory to ensure everyone has fun. And, there’s plenty of merchandise to buy too. At the same time, you don’t need to hold too much stock, as more deliveries can arrive within a day or so. Your franchise secures the following:
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.
Who is Bigshots Golf?
BigShots Golf offers the family, sports and entertainment space and provide full-service food and beverage, sports bars, multi-media, private event space and climate- controlled golf gaming experiences. Jason Payne, an avid golfer and tech-industry veteran, concepted and developed BigShots Golf in 2013 and has since overseen ...
Is Bigshots a joint venture?
In 2018, BigShots entered a joint venture with ClubCorp , which will introduce the cutting-edge BigShots proprietary technology to consumers at some of ClubCorp’s locations and through franchise opportunities available in 2019. Franchisor is seeking new franchise units in USA.
How much does it cost to open an X golf franchise?
How much does it cost to open a X-Golf Franchise? The estimated investment required to open a X-Golf Franchise is between $547,200-$900,000. There is an initial franchise fee of $30,000 which grants you the license to run a business under the X-Golf name.
How many golfers are there in the US?
There are approximately 25,000,000 golfers in the U.S. and parents continue to introduce their kids to the game at a young age.
What is X golf?
X-Golf ’s state of the art simulators each have their own view screens designed with a real world perspective for the ultimate golf simulator experience. Each simulator has an automatic ball feeder, a high performance 35 graphics/physics engine, precision sensor system, and sophisticated swing analysis. On X-Golf simulators, customers will have the ability to play over 150 world famous golf courses. Whether the customer wants to shoot a round or compete with other golfers, the simulator is able to adapt and offer the versatility to account for local tastes and trends of golfers.
