Rapidly growing global golf and entertainment venue firm wants to come to Charlotte next
A rapidly growing indoor golf and entertainment venue is targeting the Charlotte area for its next expansion.
Five Iron Golf, based in New York City, features golf simulators, a full bar and dining options, according to the company.
The golf-themed venue is looking for franchisees in the Charlotte market to add as many as five locations, said Josh Frankel, vice president of development for Five Iron. He pointed to SouthPark, Ballantyne, Fort Mill and Rock Hill as possible areas.
“The Carolinas and Charlotte have a big golf community we can appeal to,” Frankel said. He expects the first location could open in 2026.
Five Iron offers year-round practice accessibility for golfers, plus socializing and gatherings space for corporate events and date nights. “We have a little something for everyone,” Frankel said.
Five Iron joins a growing list of virtual golf venues that have opened over the past four years in Charlotte including The Puttery, X-America, Intown Golf Club and Top Golf.
It’s all part of a booming industry.
About 6.2 million Americans used a virtual golf system in 2023, up 73% from 2019, according to the National Golf Foundation.
A study by market research firm Custom Market Insights found the global simulator market is expected to increase form $1.8 billion in 2023 to $3.4 billion by 2030.
Five Iron has invested $20 million in its rapid expansion, the company said in a news release. Since opening in 2017, Five Iron has grown to 33 locations across the U.S. and internationally in India, Australia, Singapore and Dubai.
Who is Five Iron’s customer?
Five Iron is for the serious golfer and those looking to have fun, Frankel said.
Five Iron’s simulator, TrackMan, uses Doppler radar to track ball speed, attack angle, club path, face angle and golf swing.
For the golfer, Five Iron has lessons, leagues, monthly memberships, club storage, showers and club fitting services, according to the company.
It also has event spaces for parties and gatherings, a full-service bar, food, table games like ping pong and shuffleboard, and widescreen TVs for watching sports.
A franchise investment costs about $1.7 million to $2.5 million, Frankel said.
What to expect at a Five Iron Golf in Charlotte?
Five Iron venues are typically 8,000 to 10,000 square feet in retail center spaces, Frankel said.
Golfers can choose from more than 200 courses like Pebble Beach or St. Andrews in formats like stroke play, match play, alternate shot and scramble.
For dining, the menu includes chicken wings, pizza and tacos to salad and grain bowls, Frankel said.
With eight to 12 bays, Frankel said there can be a party at one, junior clinic at another and a couple bays down a program for women.
“We have a set of people who want to focus on golf and use us as an indoor practice facility, almost an indoor Country Club,” Frankel said. “Then another set of customers want to engage in the social side of things.
“It’s where a whole bunch of people can gather for all different types of reasons and occasions and just enjoy the game of golf.”
This story was originally published December 10, 2024 at 5:52 AM.