New York, NY, May 16, 2023 (GLOBE NEWSWIRE) -- Five Iron Golf, the nation's leading urban golf experience, is excited to unveil its franchising program, opening up new avenues for expansion and growth both domestically and internationally.
Renowned for its authentic, accessible, and dynamic golf and entertainment experiences, the six-year-old company is now offering franchise opportunities for both single unit and multi-unit development. To date, Five Iron Golf has owned and operated all 18 of its U.S. locations across 11 cities.
“Independent data supports our position that the future is very bright for modern, non-traditional golf experiences,” says Jared Solomon, CEO and co-founder of Five Iron Golf. “According to the National Golf Foundation, for the first time, more Americans are playing ‘off-course’ golf than playing on green grass. This shift in consumer behavior mirrors our growth strategy, as we’ve opened eight locations since the start of 2022 with five more coming online later this year.”
Five Iron Golf’s expansion to a franchise model is similarly rooted in data, with early signs of success at its two current international locations in Singapore and New Delhi, India (opening this summer).
“Moving forward, our franchise program will serve as an accelerant for additional growth, so we can keep pace with increased consumer demand,” adds Solomon. “As operators ourselves, we have experienced and perfected all aspects of the business, from build outs to programming and service. We’re excited to attract franchisees who, like our team, are passionate about the game of golf and eager to increase its approachability and accessibility.”
Brand versatility is a key Five Iron Golf factor that makes it appealing to diverse audiences of avid golfers and entertainment seekers. Since opening its flagship Manhattan location in 2017, the company has been recognized as a leader in the "Modern Golf" movement as it seeks to make the game more inclusive and accessible.
This emphasis on making the game more welcoming for all is combined with a track record of operational excellence. All Five Iron Golf facilities feature world-class technology like simulators from TrackMan Golf, the latest club offerings from Callaway, and a wide range of programming options to cater to the diverse needs and interests of its customers.
“Five Iron Golf has built a strong brand and leadership position in the evolving indoor golf market by creating technology-driven, eye-catching venues appealing to avid golfers, pure entertainment seekers, and everyone in between,” says Chip Brewer, President and CEO of Callaway. “This innovative business aligns with Callaway’s belief that the future of golf will be more accessible and inclusive.”
In addition to its exceptional golf offerings, Five Iron Golf has perfected a premium food and beverage program, adding an extra touch of excellence to the overall experience. This ensures customers remain engaged and satisfied beyond their time in the simulators.
“We’ve established strong relationships with trusted suppliers in the industry,” says Solomon. “Franchisees will have access to these supplier relationships, enabling them to source high-quality equipment, products, and services to deliver a consistent and outstanding experience at their own Five Iron Golf venues.”
Franchisee support is comprehensive and covers various aspects of the business, including development advice, operational playbooks, marketing expertise, business development, and partnership support. Franchisees will have access to the knowledge and guidance of experienced professionals who have successfully navigated the challenges of establishing and operating Five Iron Golf venues. In addition, franchisees will benefit from Five Iron Golf's technology and enterprise systems, which have been refined and optimized to ensure seamless operations and an exceptional customer experience.
The current franchise investment range is set between $1.4 and $4.2 million, while initial franchise fees for a single-unit franchise are $50,000. The operating royalty fee is 7%. Inquiries for additional details about the franchising opportunity can be made here.
Five Iron Golf plans to host its first discovery days in June and October, inviting prospective franchisees to tour existing operations and attend presentations from department heads and senior leadership.
Adds Solomon: “With a diverse range of revenue streams, including memberships, simulator rentals, lessons, events, and a full food and beverage program, Five Iron Golf franchises offer exciting opportunities for dedicated operators to be part of a community that is revolutionizing the golf industry. We have worked hard to perfect a customer-centric model, catering to serious golfers and entertainment seekers alike.”
About Five Iron Golf
Five Iron Golf is an urban indoor golf experience that combines a unique mixture of golf and entertainment with a community-focused vision of making the game more inclusive and accessible. Founded in Manhattan in 2017, Five Iron Golf has since expanded to 18 total locations across the United States, bringing a reputation for turning traditional golf on its head, celebrating the unconventional, and energizing communities through accessible and enjoyable golf experiences. This year, the company expects to add new locations in Atlanta, Cleveland, Detroit, and Indianapolis, among other cities.
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