Golf Simulator Company Business Plan
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Executive Summary
Business Overview
Tee Up Golf Experiences is a startup golf simulator company located in Fort Lauderdale, Florida. The company is founded by Chad and Damien Carter, who have experience in both the game of golf and the golf simulator industry. Each worked for over seven years in a nationally-known golf simulator chain as management staff members. Now, with the expertise of knowledge and business acumen, they have determined they can confidently start and effectively grow a successful golf simulator company. They believe their combined experience of strategic growth, marketing skills, financial capabilities, and wide and deep knowledge of golf practices will provide everything needed for long-term growth and profitability.
Tee Up Golf Experiences will provide a comprehensive array of services and products for a wide variety of clients. Tee Up Golf Experiences will be the premier golf experience company, providing services and products to each client, while supporting the strategic goals of the company. Tee Up Golf Experiences will be the ultimate choice in Fort Lauderdale for clients, ensuring that every need of the customer is fully and completely met.
Product Offering
The following are the services that Tee Up Golf Experiences will provide:
- State-of-the-Art golf simulator zones
- Golf equipment, including clubs, and support to enhance the golf experiences
- Pro assistance for golfers and safety instructions for all users
- Children (ages 3-10) and pre-teen through teen (ages 11-18) golf simulators
- Bar and refreshment area with a wide variety of snacks and light meals
- Video game arcade and teen entertainment center
- Match play for groups, clubs, couples-night-out, etc.
- Apparel, hats and related golf merchandise at POS areas
Customer Focus
Tee Up Golf Experiences will primarily target all ages and demographic groups throughout Fort Lauderdale.
Management Team
Tee Up Golf Experiences will be owned and operated by Chad and Damien Carter, who have experience in both the game of golf and the golf simulator industry. Each worked for over seven years in a nationally-known golf simulator chain as management staff members. Chad graduated from the University of Florida with a Bachelor’s degree in Business. He has been working at a local golf simulator company for the past year and has successfully recruited team members for the new company.
Damien has a bachelor’s degree in Accounting and Finance from Townsend University and has been actively researching information needed to start the company. He has also been actively studying the potential competitors to determine their target audiences and company offerings.
Chad has recruited Tom Bradley , a former golf simulator manager, to be the Player Manager in the new company. In this role, Tom will oversee and assist all players and attending visitors to ensure they have an enjoyable and productive time at Tee Up Golf Experiences.
Chad also recruited Shelley Cooper, formerly the administrative assistant in a golf simulator company, to be the Administrative Manager, assisting with the office and operations throughout the simulator company. She will also oversee administrative staff and assist in human resources and onboarding tasks.
Success Factors
Tee Up Golf Experiences will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team of Tee Up Golf Experiences
- State-of-the-Art golf simulator zones with professional assistance included
- Children (ages 3-10) and pre-teen through teen (ages 11-18) golf simulators
- Bar and refreshment area with a wide variety of snacks and light meals
- Video game arcade and teen entertainment center
- Match play for groups, clubs, couples-night-out, etc.
- Tee Up Golf Experiences offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.
Download the Golf Simulator Company business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
Tee Up Golf Experiences is seeking $200,000 in debt financing to launch its Tee Up Golf Experiences company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph outlines the financial projections for Tee Up Golf Experiences.
Company Overview
Who is Tee Up Golf Experiences?
Tee Up Golf Experiences is a newly established, full-service golf simulator company in Fort Lauderdale, Florida. Tee Up Golf Experiences will be the most sophisticated simulator, entertainment and family-fun choice for residents in Fort Lauderdale and the surrounding communities. Tee Up Golf Experiences will provide a comprehensive menu of golf simulator services and products for individuals of all ages to enjoy. Their full-service approach includes a high standard for service and professionalism.
Chad and Damien Carter will be able to effectively oversee the management of Tee Up Golf Experiences staff. The team of professionals are highly qualified and experienced in golf simulators and the outstanding golf experience at Tee Up will enhance the golfers’ game and encourage family participation in the sport. Tee Up Golf Experiences removes all headaches and issues of finding a place to practice golf, or practice golf in perfect weather. Inside the Tee Up Golf Experiences, players will enjoy a perfect environment of comfortable air conditioning and superior staff and services. Any issues that arise will be taken care of expeditiously while the staff delivers the best customer service.
Tee Up Golf Experiences History
Tee Up Golf Experiences is owned and operated by Chad and Damien Carter. As former golf simulator managers for several years, the brothers developed a unique capability to provide a high-quality experience with a family-fun atmosphere that clearly reflects their new company, Tee Up Golf Experiences. They have managed multiple projects for former employers that have resulted in increased sales and a high degree of customer satisfaction. The brothers have now determined they are ready to take their skills and knowledge to venture out on their own by starting their own company. They have gained the trust and commitment of several former customers in advance of opening this new business and will enjoy seeing them when the company launches.
Since incorporation, Tee Up Golf Experiences has achieved the following milestones:
- Registered Tee Up Golf Experiences, LLC to transact business in the state of Florida.
- Has a contract in place for a 10,000 square foot office at one of the midtown buildings
- Reached out to numerous contacts to include Tee Up Golf Experiences in their recommendations.
- Began recruiting a staff of three management and six office personnel to work at Tee Up Golf Experiences
Tee Up Golf Experiences Services
The following will be the services Tee Up Golf Experiences will provide:
- State-of-the-Art golf simulator zones
- Golf equipment, including clubs, and support to enhance the golf experiences
- Pro assistance for golfers and safety instructions for all users
- Children (ages 3-10) and pre-teen through teen (ages 11-18) golf simulators
- Bar and refreshment area with a wide variety of snacks and light meals
- Video game arcade and teen entertainment center
- Match play for groups, clubs, couples-night-out, etc.
- Apparel, hats and related golf merchandise at POS area
Industry Analysis
The golf simulator industry is expected to grow over the next five years to over $1416 million.
The growth will be driven by the growth in income for a larger proportion of the population, allowing adults and families to spend more discretionary funds on entertainment. The growth will also be evident due to the enjoyment of the game of golf, particularly when in an enclosed environment where every stroke is easy and the balls are automatically returned to the player.
Costs will likely be reduced as golf simulator companies become more popular, which increases competition. However, the costs for equipment, such as high-end golf simulators, will also decrease with increased production. Also included in decreased costs will be the software-driven games that are offered in golf simulators, as increased production will lower costs. Increasing, as-yet-unknown, technology will also reduce the costs of simulators, as well as office functions to support the simulators.
Download the Golf Simulator Company business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
Tee Up Golf Experiences will target all ages and demographic groups throughout Fort Lauderdale. They will primarily target golfers who want to improve their game play and those potential golfers who want to learn via a golf simulator experience. Tee Up Golf Experiences will also target young children, preteens and teens to attract the revenue from those who want a clean, safe environment for their families. The new company will also target couples, club play, special occasion groups and others seeking an attractive venue for sports entertainment and fun.
The precise demographics for Tee Up Golf Experiences are:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
Tee Up Golf Experiences will primarily target the following customer profiles:
- All residents of all ages and demographic groups throughout Fort Lauderdale
- Primary targets include golfers who want to improve their game play and potential golfers who want to learn via a golf simulator experience.
- Children ages 3-10, preteens ages 11-13 and teens ages 14-18
- Couples, club players, special occasion groups and teams
Competitive Analysis
Direct and Indirect Competitors
Tee Up Golf Experiences will face competition from other companies with similar business profiles. A description of each competitor company is below.
Practice Your Swing Golf Center
Practice Your Swing Golf Center was established in 2018 in northern Fort Lauderdale as a golf simulator practice arena for golf afficiandos. Michael Knowles is the owner and operator of the golf simulator business and for many years prior to that was the golf professional at the Fort Lauderdale Country Club. In that capacity, he trained golfers in the game of golf, sold equipment, arranged special tee times for select clients, and assisted with sales in the pro shop.
In addition to Michael Knowles, the Practice Your Swing Golf Center staff includes three golf simulator assistants who help golfers with their game practice, and three staff members who work in the golf center, managing reservations, assisting customers and selling merchandise and golf supplies.
Tee Off Golf
This multifaceted Tee Off Golf simulator company is located outside Fort Lauderdale in a high-income suburban family area. Golf is the primary mode of sports for the majority of residents in this region and the availability of golf simulators for practice or improvement of the game is an attractive option for all golfers. The simulator location offers six indoor simulators, plus an outdoor chip-and-putt green that encourages practice for every golfer. Established by Troy Baines in 2010, Tee Off Golf was one of the first golf simulator companies in Florida and, as such, it has expanded to include other amenities on location, such as a deli shop, beer garden, retail shop with apparel and golf equipment, as well as comfortable seating areas throughout the location.
USA Sports Trainers
The USA Sports Trainers Company opened in 2001 as a multi-purpose adult training center in various sports, such as wrestling, boxing, jiu jitsu, and other sports. It also included two golf simulators, with equipment in two enclaves established for golfers. This area allows golfers to hone their golf skills using a variety of clubs and fine-tune the areas of their swing that demand attention. The simulators are situated in the building and are helpful when the weather outside is oppressively hot or in a tropical rain, and the simulators contribute a healthy profit in the overall revenue. Although the simulators are rarely in use during the weekdays, they are often occupied on a first-come-first-served basis on the weekends.
Download the Golf Simulator Company business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
Tee Up Golf Experiences will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly-qualified team of Tee Up Golf Experiences
- State-of-the-Art golf simulator zones with professional assistance included
- Children (ages 3-10) and pre-teen through teen (ages 11-18) golf simulators
- Bar and refreshment area with a wide variety of snacks and light meals
- Video game arcade and teen entertainment center
- Match play for groups, clubs, couples-night-out, etc.
- Tee Up Golf Experiences offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.
Marketing Plan
Brand & Value Proposition
Tee Up Golf Experiences will offer a unique value proposition to its clientele:
- Friendly, knowledgeable, and highly-qualified team of Tee Up Golf Experiences
- State-of-the-Art golf simulator zones with professional assistance included
- Bar and refreshment area with a wide variety of snacks and light meals
- Video game arcade and teen entertainment center
- Unbeatable pricing to its clients; they will offer the most reasonable pricing in the city.
Promotions Strategy
The promotions strategy for Tee Up Golf Experiences is as follows:
Word of Mouth/Referrals
Chad and Damien have built up an extensive list of customers and contacts over the years by providing exceptional service and expertise to their former clients. The contacts and clients will follow to their new company and help spread the word of Tee Up Golf Experiences.
Professional Associations and Networking
Local, regional and national trade associations will be joined by each of the management team members. This will secure a position in the industry at large and leadership positions in each will be acquired, as well. Collaborations and partnerships with compatible companies will be pursued as the company looks at long-term growth and sustainability.
Print Advertising
Two weeks prior to the launch date, a regional flier will be distributed to all homes in the target audience area, announcing the launch and open house for the weekend. A champagne toast, raffle with prizes, free play, and other incentives to attend will be offered. Special discounts for play will be offered for the first month of business.
Website/SEO Marketing
Tee Up Golf Experiences will fully utilize their website. The website will be well organized, informative, and list all the services that Tee Up Golf Experiences provides. The website will also list their contact information and offer reservations via a special portal. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “golf simulator company” or “golf simulator near me,” Tee Up Golf Experiences will be listed at the top of the search results.
Pricing
The pricing of Tee Up Golf Experiences will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.
Operations Plan
The following will be the operations plan for Tee Up Golf Experiences.
Operation Functions:
- Chad Carter will be the co-owner and President of the company. Damien Carter will be the co-owner and Vice President of the company. Together, they oversee all staff and manage client relations. They have spent the past year recruiting the following staff:
- Tom Bradley will become the new Player Manager, as he continues building his reputation within the golf simulator industry. Tom has been assisting players in refining their game and recommending purchases of golf clubs and other equipment for over ten years in his former role.
- Shelley Cooper will be the Administrative Manager, assisting with the office and operations throughout the simulator company. She will also oversee administrative staff and assist in human resources and onboarding tasks.
Download the Golf Simulator Company business plan template (including a customizable financial model) to your computer here <–
Milestones:
Tee Up Golf Experiences will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel and staff employment contracts for the Tee Up Golf Experiences
- 6/1/202X – Finalize contacting potential clients for Tee Up Golf Experiences
- 6/15/202X – Begin networking at industry events
- 6/22/202X – Begin moving into Tee Up Golf Experiences office
- 7/1/202X – Tee Up Golf Experiences opens its doors for business
Management Team
Tee Up Golf Experiences will be owned and operated by Chad and Damien Carter, who have experience in both the game of golf and the golf simulator industry. Each worked for over seven years in a nationally-known golf simulator chain as management staff members. Chad graduated from the University of Florida with a Bachelor’s degree in Business. He has been working at a local golf simulator company for the past year and has successfully recruited team members for the new company.
Damien has a bachelor’s degree in Accounting and Finance from Townsend University and has been actively researching information needed to start the company. He has also been actively studying the potential competitors to determine their target audiences and company offerings.
Chad has recruited Tom Bradley , a former golf simulator manager, to be the Player Manager in the new company. In this role, Tom will oversee and assist all players and attending visitors to ensure they have an enjoyable and productive time at Tee Up Golf Experiences.
Chad also recruited Shelley Cooper, formerly the administrative assistant in a golf simulator company, to be the Administrative Manager, assisting with the office and operations throughout the simulator company. She will also oversee administrative staff and assist in human resources and onboarding tasks.
Financial Plan
Key Revenue & Costs
The revenue drivers for Tee Up Golf Experiences are the fees they will charge to customers for their services and products.
The cost drivers will be the overhead costs required in order to staff Tee Up Golf Experiences. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
Tee Up Golf Experiences is seeking $200,000 in debt financing to launch its Tee Up Golf Experiences company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
Download the Golf Simulator Company business plan template (including a customizable financial model) to your computer here <–
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of customers Per Month: 400
- Average revenue per Month: $60,000
- Office Lease per Year: $100,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Golf Simulator Company Business Plan FAQs
What Is a Golf Simulator Company Business Plan?
A golf simulator company business plan is a plan to start and/or grow your golf simulator company business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your Golf Simulator Company business plan using our Golf Simulator Company Business Plan Template here.
What are the Main Types of Golf Simulator Company Businesses?
There are a number of different kinds of golf simulator company businesses, some examples include: Indoor Golf Entertainment Centers, Golf Instruction and Practice Studios, Home Golf simulator Setup and Installation, and Virtual Golf Tournaments and Leagues.
How Do You Get Funding for Your Golf Simulator Company Business Plan?
Golf Simulator Company businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Golf Simulator Company Business?
Starting a golf simulator company business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Golf Simulator Company Business Plan - The first step in starting a business is to create a detailed golf simulator company business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your golf simulator company business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your golf simulator company business is in compliance with local laws.
3. Register Your Golf Simulator Company Business - Once you have chosen a legal structure, the next step is to register your golf simulator company business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your golf simulator company business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Golf Simulator Company Equipment & Supplies - In order to start your golf simulator company business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your golf simulator company business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.