Topgolf Franchise FDD, Profits & Costs (2025)

Topgolf is a global sports entertainment franchise that began in the UK, and focused on providing a unique golfing and social experience. While founded in 2000, the company has expanded its brand internationally with partnerships in regions like Australia, Mexico, and the UAE.

Topgolf currently operates exclusively in the US and UK but has franchise opportunities worldwide, requiring developers to open 5+ venues with access to $150M+ in capital.

The company differentiates itself through technology-driven golf experiences, food and beverage options, and a social atmosphere. Currently, it is not seeking additional franchise developers in the U.S.

Initial Investment

How much does it cost to start a Topgolf franchise? Topgolf does not offer franchise opportunities, as all of its locations are company-owned.

Therefore, it is not possible to start a Topgolf franchise, and there is no associated cost for franchising with the company.

For similar golf franchises in the industry, however, the initial investment is on average $258,000.

Here are a few comparable franchises with their initial investment requirements:

Average Revenue (AUV)

How much revenue can you make with a Topgolf franchise? Since Topgolf does not franchise its centers and all locations are company-owned, Topgolf does not publish a Franchise Disclosure Document. Therefore, it does not disclose the average revenue of its locations.

Frequently Asked Questions

How many Topgolf locations are there?

As of the latest data, Topgolf has around 100 locations worldwide, with about 89 located in the United States. The company primarily operates its venues as company-owned, with very few, if any, franchised units within the U.S. Although it has expanded globally through partnerships, Topgolf is largely a company-operated brand, especially after being acquired by Callaway Golf Company in 2021.

What is the total investment required to open a Topgolf franchise?

Topgolf does not offer single franchise opportunities and therefore, it is not possible to establish the initial investment to start a Topgolf franchise.

However, the total investment required to open a franchised center similar to Topgolf franchise ranges from $6,000 to $658,000.

What are the ongoing fees for a Topgolf franchise?

Since Topgolf does not offer franchises and all stores are company-owned, the ongoing fees such as royalty fees or advertising fees associated with franchising the brand are not readily available.

Yet, similar sports franchises in the industry charge an average of 5% in royalty fees and 5% in advertising fees ( e.g. Play it Again Sports).

What are the financial requirements to become a Topgolf franchisee?

All Topgolf locations are company-owned, and the brand does not offer opportunities for independent ownership or franchising.

To open a Topgolf franchise, the minimum requirement includes access to at least $150 million in capital. Additionally, franchise developers must be willing and able to open 5 or more Topgolf venues. The total investment may vary based on location and development requirements.

However, specific figures for minimum net worth and liquid capital are not publicly provided by Topgolf on their official site. The focus is on having significant financial capability to develop multiple venues and experience in relevant industries like entertainment, food & beverage, and hospitality.

How much can a Topgolf franchise owner expect to earn?

Since Topgolf is entirely company-owned and does not operate as a franchise, there is no earning disclosure for a Topgolf franchise.

Now, let’s assume the average gross sales for a sports franchise similar to a Topgolf franchise ($922,000). Assuming a 15% operating profit margin, $922,000 yearly revenue would result in $138,000 operating profit.

Who owns Topgolf?

Topgolf is owned by Topgolf Callaway Brands, a result of Callaway Golf Company’s acquisition of Topgolf in March 2021 for $2.6 billion. Callaway, initially a minority stakeholder in Topgolf, took full ownership through this acquisition, integrating Topgolf’s entertainment business with its golf equipment and apparel operations.

Disclaimer

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