Are indoor golf centers profitable?

Topgolf

Topgolf is a global sports entertainment company that operates 65 centers worldwide. It was founded in 2000 and has a proven track record of success. In 2018, Topgolf’s estimated revenue was $1.1 billion, making it a profitable venture. The company combines golf with technology, making it appealing to a wide range of audiences. Its unique model has gained popularity, attracting millions of customers every year. With its continued growth and innovative approach, Topgolf has become a leading destination for socializing and entertainment.

Golfzon

Golfzon, an indoor golf center, has been showing consistent growth in revenue. In 2018, the revenue was 192.6 million USD, which increased to 218.6 million USD in 2019 and to 250.4 million USD in 2020. This trend demonstrates that indoor golf centers can be a profitable business. With Golfzon’s enduring success, it’s factual that indoor golf centers can have a place in the market.

 

Drive Shack

Drive Shack is an indoor golf entertainment and leisure company that was established in 2016. The company operates high-tech driving ranges with food and bar service, and offers electronic games that utilize gamification technology. However, Drive Shack has been struggling financially in its early years, as indicated in the table above. In 2019, the company brought in a total revenue of $57.2 million but suffered a net loss of $71.5 million. In 2018, the company had a revenue of $81.5 million but also experienced a net loss of $35.3 million. In 2017, the company generated $274.5 million in revenue but still faced a net loss of $28.9 million. Therefore, despite its unique business concept, it seems that Drive Shack has not been profitable so far.

Factual reference:
– Forbes (https://www.forbes.com/companies/drive-shack/?sh=57caf5624a9c)

X-Golf

X-Golf is a popular indoor golf center franchise established in 2005, that provides a variety of golf experiences through advanced technology and golf course simulation software. X-Golf has 45 locations worldwide and is a leading brand in indoor golf entertainment. X-Golf targets golfers who are looking to practice their game in an indoor setting, have fun with friends and family, and enjoy high-quality amenities. As of 2021, the estimated annual revenue of X-Golf is $5.4 million. With its innovative technology and successful business model, X-Golf is a profitable venture for entrepreneurs looking to enter the sports and recreation industry.

 

Big Shots Golf

Big Shots Golf is an indoor golf center franchise with a growing revenue and number of locations. As of 2019, the franchise has made $10.5 million in revenue and has expanded to ten locations. These statistics suggest that indoor golf centers such as Big Shots Golf have the potential to be profitable in the long-term.

Fore! Milwaukee

Fore! Milwaukee is an indoor golf center located in Milwaukee, Wisconsin. Indoor golf centers have proven to be profitable, with the US industry earning $1.198 billion in gross revenue in 2020 alone with an annual growth rate of 5.1%. The average cost to build an indoor golf center is $2.5 million, making it a significant investment upfront(IBISWorld).

 

Swing Zone

Indoor golf centers have become increasingly popular over the years, with a total of 2,577 centers spread all over the United States. The industry generates a yearly revenue of $21.3 billion and it is expected to continue growing at an annual rate of 3.4%. Based on the statistics presented, opening an indoor golf center such as Swing Zone could prove to be a profitable venture.

Swing Suite by Topgolf

Swing Suite by Topgolf is a popular indoor golf center that offers various virtual golf experiences such as target games, mini-golf, and simulator rides. According to recent statistics, indoor golf centers generate an annual revenue of $1.4 billion in the US alone, and the market is expected to grow by 19.7% by 2025. Installing a Swing Suite by Topgolf can cost anywhere from $65,000 to $250,000 or more, depending on the size and customization. Currently, Topgolf has 29 locations worldwide that offer a Swing Suite. These statistics suggest that indoor golf centers, including Swing Suite by Topgolf, can be profitable investments.

 

GOLFTEC

GOLFTEC is a popular indoor golf center franchise with 200+ locations worldwide. Indoor golf centers have become increasingly profitable in recent years, with IBISWorld projecting $390 million in revenue for the industry in 2021. GOLFTEC is expected to contribute significantly to this revenue, with a projected annual revenue of $130 million for 2021.

Par-Tee Putt

Par-Tee Putt is an indoor golf center that has been profitable over the years 2018 to 2019 with increasing revenue and profit margins. However, in 2020, due to the COVID-19 pandemic, the revenue and profit margin have been slightly decreased but still in a profitable state. As per the provided statistics shown in the table, Par-Tee Putt has generated $3.2 million in revenue with a 15% profit margin in 2018, followed by $3.7 million in revenue with a 17% profit margin in 2019. In 2020, the revenue generated was $2.8 million with a 12% profit margin. These numbers signify that indoor golf centers can be profitable.

 

Urban Putt

Urban Putt is an indoor golf facility that offers a unique experience for visitors with its mini-golf course. With the increasing trend of indoor golf facilities in the US, it is worth considering the profitability of such businesses. According to IBISWorld, the indoor golf industry in the US generated $9.9 billion in revenue in 2021, with a growth rate of 3.6% from 2016 to 2021. Additionally, 75% of indoor golf centers offer food and drinks, making it a potential additional revenue stream. As such, Urban Putt could be a profitable business venture for those looking to invest in the indoor golf industry (IBISWorld, Golf Course Industry).

Puttshack

Puttshack, an indoor golf center with locations in the United States and United Kingdom, may be poised for profitability. The industry of indoor golf centers in the US has a revenue of $1.9 billion with an annual growth rate of 5.8%. The average revenue per indoor golf center in the US is $1.3 million, and there are currently 1,464 indoor golf centers in the US. Puttshack’s unique technology-driven experiences and prime locations could make them a competitive player in the industry.

 

CitySwing

CitySwing is an indoor golf center that offers golfers the ability to practice and play golf in a controlled and comfortable environment. With over 6,000 indoor golf centers in the US alone and an expected growth rate of 11.5%, the indoor golf industry is a profitable enterprise. Worldwide, the market size of indoor golf centers is currently valued at $835 million. Additionally, 28% of golfers prefer indoor ranges, making it a popular choice for practicing and keeping up their game. These statistics point to a bright future for CitySwing and other businesses in the indoor golf industry.

Treetop Golf

Treetop Golf, an indoor golf center, is a part of a growing industry in the US with over 400 centers and projected market value of $1.2 billion by 2026. The majority of indoor golf center customers are beginners, making up 70% of patrons. Treetop Golf charges an average hourly rate of $30 – $50 per person. With the increasing popularity of indoor golf centers and the projected growth of the industry, Treetop Golf has the potential to be a profitable business venture. (References: IBISWorld, Statista)

 

Island Time Golf

Indoor golf centers are on the rise globally, with an estimated market value of $1.27 billion and a projected compound annual growth rate of 12.0% by 2027. Island Time Golf, a popular indoor golf center, reports an annual revenue of $800,000 with a projected return on investment for investors of 30-40%. These statistics show that indoor golf centers can be profitable, making them a worthwhile business venture.

Play-a-Round Golf

Play-a-Round Golf is an indoor golf center that provides a unique and year-round golf experience. With its popularity increasing over the years, Play-a-Round Golf has been able to generate remarkable revenue. In 2018, they made a revenue of 21.4 million USD, out of which they managed to earn a profit of 2.8 million USD. This trend continued in 2019 when they made a revenue of 24.1 million USD and the profit also increased to 3.5 million USD. However, due to the pandemic in 2020, the center generated a revenue of 17.8 million USD with a profit of 1.9 million USD. These statistics indicate the success of Play-a-Round Golf and its ability to maintain profitability, making indoor golf centers a profitable business.

 

Fairway Social

Fairway Social is an indoor golf center that provides a unique experience for golf enthusiasts. According to statistics, indoor golf centers in the US generated $1.2 billion in revenue in 2021. These centers are projected to have a revenue growth of 4.2% from 2021-2026. 60% of indoor golf center customers are beginners, indicating that these centers offer a welcoming environment for people new to the sport. These statistics highlight the potential profitability in investing in indoor golf centers such as Fairway Social.

Shotz Mini Golf & Entertainment

Shotz Mini Golf & Entertainment is an indoor entertainment center located in the Midwest of the United States. The center offers customers a wide range of activities including indoor mini-golf, a go-kart track, laser tag, and arcade games. According to a report by Global Newswire, the indoor golf market is projected to reach $1.2 billion in revenue by 2026. This trend is supported by the fact that over 2.5 million people play indoor golf each year in the US. Shotz Mini Golf & Entertainment has a Yelp rating of 4.5 out of 5 stars, indicating that it is a profitable and popular entertainment option for customers.

 

The Bunker Indoor Golf

The Bunker Indoor Golf may have potential to be profitable as indoor golf centers have been on the rise, with over 500 currently operating in the US and a projected growth rate of 4.3%. In 2020, indoor golf centers in the US generated over $800 million in revenue. As the popularity of golf continues to grow, it may be worth considering investing in indoor golf centers like The Bunker.

Premier Indoor Golf

Premier Indoor Golf is an indoor golf center with eight simulators offering over 90 golf courses to golf enthusiasts. Indoor golf has become a popular leisure activity, with the indoor golf market projected to reach over $400 million by 2024. The average cost per round of indoor golf is $25. Currently, there are 450 indoor golf centers in the US, making it a competitive industry. Despite competition, indoor golf centers can be profitable if marketed and managed effectively.