Five Iron Golf first opened in 2017 in New York City’s Flatiron District after Mike Doyle, Nora Dunnan, Katherine Solomon and Jared Solomon decided they wanted to bring more access and inclusivity to the game of golf.
So, they set their sights on urban venues, covered those spaces in art and graffiti from local artists to ensure a relaxed, approachable environment, added full-service bars and locally-crafted food menus and grew from there. There are now 18 total locations across 11 U.S. cities like Chicago, Baltimore, Pittsburgh, Boston, and Seattle. The company expects to add new locations this year, including in Atlanta, Cleveland, Detroit, and Indianapolis, and is also now targeting markets through franchising for the first time.
Five Iron Golf today announced a new franchising program for both single- and multi-unit development. According to Danielle Kindelmann, director of marketing and PR, Five Iron Golf sets itself apart in the eatertainment space because it combines golf and entertainment with that mission of making the game more accessible.
“Our founders wanted to create a sense of convenience and access for avid players wanting to work on their game or play in spite of gridlocked traffic or inconvenient course hours, or for those who have never picked up a golf club before – to make it less intimidating overall,” she said during a recent interview.
All Five Iron locations include technology like simulators from TrackMan Golf and club offerings from Callaway. Callaway, in fact, announced a minority investment of $30 million in Five Iron in 2021. The venues also include simulator rentals, golf lessons and events, games like Foosball and billiards, and a new menu.
“We are truly an eatertainment experience. We have table games, and we are a sports bar with a full restaurant if you want to just catch a game on TV. You can have a great time even if you don’t pick up a golf club. We are bullish on both our foodservice and entertainment missions. It is important to prioritize both as we want our guests to have great experiences socializing around the sport,” Kindelmann said.
The company’s goal is to have 26 corporate-owned locations open by 2024, and that footprint will increase once franchisees enter the mix.
“Franchising gives us the opportunity to grow into new markets and explore other parts of the country from where we began. It is a means to growing more effectively and efficiently. As operators ourselves, we've refined our playbook as we've grown and are positioned to leverage unparalleled operational experience to support our franchisees,” Solomon said. ““Moving forward, our franchise program will serve as an accelerant for additional growth, so we can keep pace with increased consumer demand.”
Solomon added that National Golf Foundation data shows Americans are playing “off-course” golf more than green grass golf for the first time.
“Independent data supports our position that the future is very bright for modern, non-traditional golf experiences,” he said. “This shift in behavior mirrors our growth strategy.”
The company will host its first discovery days in June and October and has set an investment range between $1.4 million and $4.2 million, depending on footprint and market. Current facilities, for instance, range from 7,000 to 24,000 square feet. The initial franchise fees for a single-unit franchise are $50,000, while the operating royalty fee is 7%.
Contact Alicia Kelso at [email protected]
