It was a long journey, but after looking at about 80 swaths of real estate nearly a decade ago, the team behind Five Iron Golf was finally able to persuade a landlord that real golf balls hit in an enclosed space where alcohol was served was a good idea.
In the eight years since the first Five Iron launched in NYC, co-founder Mike Doyle says he has observed a “serious surge” in indoor golf, particularly in downtowns. Doyle says Five Iron now leans into that setting, where most of its 40 venues are located.
In the last three years, Minneapolis’ North Loop has seen the debut of Five Iron (on Washington near N. 7th St.), Puttery (Washington at Hennepin), and most recently, Puttshack (on N. Third St. near Target Field). Five Iron is a simulator-based driving range, while the competitors are techy indoor mini golf, plus food and alcohol.
“By and large,” Doyle adds, “we want to be known as a great sports bar you can come to off the street, watch the game, and never touch a club.”
Golf requires acreage, is expensive, and can be hard for city dwellers to access. A new generation of outdoor driving ranges (see Topgolf and Launchpad) is one approach, but locally they’re on the periphery. Indoor golf is for the after-work crowd and on late nights and in winter.
“We essentially are able to amenitize buildings for landlords. We get favorable rent deals because [landlords] want to attract office tenants and we’re a way they can do that.”
—Mike doyle, co-founder, Five Iron Golf
Finding adequate real estate can be a challenge, Doyle says. Around 5,000–25,000 square feet is required, with a 10-foot ceiling. Five Iron has up to 15 bays at each location.
“We essentially are able to amenitize buildings for landlords,” Doyle explains. “We get favorable rent deals because [landlords] want to attract office tenants and we’re a way they can do that.”
“We need locations that are pretty unique,” Doyle continues. “The options in cities are relatively limited.”
Five Iron uses Trackman, a radar device that tracks ball activity and provides real-time feedback to players. Three cameras are set up at each bay so players can analyze their strokes. The simulator offers more than 400 actual courses.
The business is built around revenue streams, from memberships to hourly rentals, leagues to lessons, plus F&B. A basic golf bay rents for $65/hour for up to six people.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source tcbmag.com ’
