Topgolf Franchise Cost
The estimated cost of opening a Topgolf franchise is about $18 million but this figure may vary depending on several factors including location among other factors.
For example, one franchise was built in Austin, Texas for around $15 million, but one that was built in Las Vegas, Nevada cost over $50 million to build!
Topgolf has it's headquarters located in Dallas, Texas, but has been expanding to locations around the world. Currently, there are around 53 Topgolf locations in the US. They also have a few locations in the UK and one in Australia. As of 2020, they also have some new locations in Canada, Mexico, and the United Arab Emirates.
If you have $10 to $20 million you are able to invest, Topgolf is an excellent franchise opportunity to pursue.
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What You Need to Know
When opening a Topgolf franchise location, you want to ensure that you get all of the facts before you sign on the dotted line. You will need to contact Topgolf directly to get the specifics on their franchise opportunities.
One of the things that I would strongly suggest is that you conduct an in-depth research study on the various Topgolf franchises prior to making any commitments. This includes information on the market, the performance history of the top franchises, and even more, you need to review their financial statements.
Once you've made the decision to open a Topgolf franchise, you have to be sure that you are prepared both financially and mentally. If you haven't considered a business as huge as owning your own franchise, you might want to reconsider.
In this competitive world today, Topgolf is simply a business, one that has the potential to become very large. Sports programming itself is worth billions of dollars, and that alone is a huge amount of money.
Before you open a Topgolf franchise, you must ensure that it is appropriately licensed. Most of the time, you will find that these locations are owned by larger corporations that want to control the marketplace.
They are going to make an investment to buy the rights to use the name, and they will also want to provide training to help those who decide to open their own business. In some instances, these franchises will try to keep you from opening your own business. So be very careful, and do your research.
Topgolf Franchise Fees
Topgolf, like other franchises, has a franchise fee that must be paid to them prior to being able to open a Topgolf franchise. The cost for this is not specified, so if you want details you will need to consult their team.
In addition to the franchise fee, you can expect there to be a lot of different legal documents you will have to sign and various licenses that you will need to obtain before you can start a Topgolf franchise.
It would be ideal to have your attorney review the documents and ensure that you are well informed of all the legal obligations and liabilities.
Building and Property Costs
When building a Topgolf franchise, you will need a large piece of property. The Topgolf facility is on average around 65,000 square feet. The building is 3 storeys high and is large enough for around 1250 people to enjoy the facility at the same time.
This means that the property you purchase will need to be of an adequate size to fit everything comfortably. The cost for such property will vary by location. In addition to the property costs, you will need to cover all the construction and site work, including an architect.
Furniture, Fixtures, Signage, and Inventory
Every TopGolf franchise needs furniture, signage, fixtures, and inventory of golf equipment. You will need to ensure that you have everything on hand for your members to play the game. This includes having equipment like golf balls, clubs, bags, footwear, gloves, and professional equipment.
You also will need to have some other items that may be of interest to your members, like apparel for adults and children, junior equipment, accessories, and gift items.
Climate Controlled Hitting Bays
One of the reasons people love Topgolf is the ability to play year round, despite the weather. Topgolf has climate controlled hitting bays to make it more comfortable to play, even when the weather is uncomfortable. If you open a Topgolf franchise, this is one accommodation that you will not want to neglect!
Topgolf is often a favorite location for corporate events, team building, birthday parties, and after work activities. Ensuring your members have an enjoyable and comfortable time playing is key to keeping business returning year round.
One of the many benefits of playing golf at Topgolf is the relaxed atmosphere. Topgolf does not have an official dress code and it provides comfortable and ample lounging. The Topgolf facility has a roof top terrace. The fire pits and comfortable seating make it an enjoyable place to pass time.
Is a Topgolf Franchise a Good Investment?
When you have prepared a solid business plan, crafted a financial estimate of the franchise itself, and you have completed all of the legal steps, you are ready to open your own Topgolf franchise. But you may be wondering... is it worth it?
Yes, if you are willing to invest the time, energy, and money to become a part of a multi-million-dollar business.
Topgolf is a good sports entertainment company and you can get a lot of enjoyment out of it, but it is also a business, with a lot of overhead and responsibilities that can sometimes distract people from the main game.
Make sure that you are willing to put in the work, even if it means that you have to turn down a lucrative paying job to start your own business.
If you think that this franchise is right for you, then click here to learn about the best ways you can fund your new franchise.