Topgolf is a popular sports and entertainment group that brings together nearly a hundred million fans in a wonderful way. Also, this company is an online marketplace for sales and auctions that brings together sellers of new and used products with their buyers. It was founded in 2000 by twin brothers Steve and Dave Jolliffe as they realized the lack of a good golf place in town. Now, there are 50+ Topgolf groups located in U.K., Mexico, and Australia. It is the perfect entertainment zone, offering people varieties like venues, restaurants, range, suites, studios, etc. In fact, in 2017, it was awarded as the best place for an incredible first date in Atlanta. Also, the company holds two Guinness World Records (2019,2018).
Dallas, Texas, US
Public Golf course
Topgolf similar companies:
DriveShack, Bigshot Golf, MainEvent, Salamander Innisbrook, Diamond resorts, The Trump organization, Game Golf, Forelinx, Golf Channel, and Dave & Buster’s.
Who is Topgolf biggest competitor?
The biggest competitor of Topgolf is Dave & Buster’s, which is a US-based restaurant and entertainment business company. It has generated a revenue of $.44 billion in 2021, making it a close competitor in terms of revenue production, with TopGolf that earned a revenue of $1.1 billion. In addition to the revenue, Dave and Buster offer an extravagant gaming and entertainment zone that contains winding trails, a water park, four championship golf courses, a luxury spa, tennis court, and pools.
How Topgolf makes money
Topgolf is one of the leading names in the sports and entertainment industry. Its expansive golf range loaded with advanced technology and entertainment zones are its key revenue generator. Interestingly, Topgolf, in the initial stages of development, planned its growth opportunity in its U.S. venues and 2% considerable market penetration in international venues. It has shown a growth of 30% compound annual rate since 2017 and has earned a revenue of $1.1 billion in 2019.
The multi-level venues of TopGolf are a hub for music, high-tech gaming, a chef-driven menu, hand-crafted cocktails, social spaces for events, and more. TopGolf generates around $20 million a year from each of its venues, and food and drink contribute to a major chunk.
The company has over 50 venues across the United States and international boundaries and entertains more than 20 million guests in a year. In addition, it has been innovating the platform continuously by providing open-air venues, innovative media, and revolutionary top tracer modes. As a result, it has grown 30% compound since 2017 and holds the leading golf equipment market with strong returns currently.
Toptracer by Topgolf is another luxurious setting offered by the Topgolf entertainment group to improve fans’ indoor impression. It connects people by providing them with an innovative concept of ball-tracing technology. It would be a great first time for someone to introduce a game of golf playable on T.V. Thus, it offers its visitors a revolutionary and cutting-edge way to experience the game at the time of the biggest golf majors on television. Furthermore, it is a great social experience for people.
Topgolf offers the leading ball-tracking technology, generating around 1.1-billion-dollar revenue as recorded in 2019. Additionally, in the past three years, this business sector has grown up to 233%. Here, the main top driving range customer makes holding a percentage of 80-90%. But since the Toptracer added 10 of 40 bays, even women occupied 30-40% of the Toptracer bays.
Drive Shack Inc. operates as a country club that offers golfers golf-related leisure and focuses on providing entertainment to people. The company was started in 2002. It offers an expansive place for golfers and entertainment seekers. With having the state-of-the-art sports and social entertainment zone loaded with gaming and golf technology powered by TrackMan™, this place is a must-visit. Besides an engaging golfing experience, you can also enjoy a lavish spread curated by chefs and guzzle down crafted cocktails that complete the definition of absolute entertainment.
The four-entertainment unit of Drive Shack golf venues, which again opened in December 2020, earned a total revenue of $73.9 million and an operating income of $1.1 million for the second quarter of 2021. The company had a whopping walk-in revenue, which was an all-time high. It is a great competitor of Topgolf, competing it against all the service divisions. Drive Shack is presently available at 4 locations and is planning to expand. It has signed a definitive agreement with global golf superstar Rory McIlroy and his team. As per the investment partnership, Symphony Ventures will be investing $10 million over a period of 3 years to expand Drive Shack’s presence.
Bigshots Golf is a go-to place for the ultimate experience of gaming supported with a sports bar, mini-golf, full-service food, private event space, and climate-control boxes. BigShots uses a unique technology in the industry. It uses Doppler radar that helps in accurate tracking of the ball. In 2018, it joined hands with ClubCorp Inc and a hospitality company to increase its footprint all over the U.S. Much like Topgolf, Bigshots opened its venues through franchising and also introduced golf-ball tracing technology. As a result, it is driving revenue of 5.6 million dollars annually.
The company has even started to plan its expansion and estimates revenue of 13 million dollars by the end of 2022. Thus, it has emerged as one of the top competitors of Topgolf, though Topgolf is gaining the upper hand as it maintains over 60 locations around the world. Also, it generates $970M less revenue than Topgolf.
The Main Event was founded in the year 1988. It is a Dallas-based entertainment company that has grown rapidly over the years. It now has around 40 centers around the U.S. and serves more than 20 million guests in a year. The place serves as a perfect destination to have fun together with families, friends, and groups of all age-kind. Main Event has its headquarter in Texas and Plano, offering people various activities like gravity ropes, laser tag, billiards, and much more.
It is a top competitor of Topgolf, generating a revenue of 150M dollars with the help of more than 1000 employees. This accounts for 13% of the Topgolf revenue. In addition, the company is planning further expansion. For the matter, it has several centers under construction in the Midwest, east and southern regions.
Salamander Innisbrook is a luxurious Golf & Spa resort offering people a great chain of facilities like a luxury spa, golf courses, tennis court, winding trails, pools, and a water park. It is one of the biggest competitors of TopGolf. It has been appealing to visitors to enjoy the ultimate golf experience since its commencement.
The company earns revenue of 43.52 million dollars annually and has around 155 employees. It can provide full-service management like Topgolf in luxury properties, food and beverages concept, centralized system, and spa and golf assets development.
Diamond Resorts, also popular as Diamond Resorts International, is a Timeshare group that manages and sells vacation ownership. It offers exceptional experiences, events, and destinations to people. It has its headquarter in Las Vegas and some regional offices in Lancaster, Orlando, and Florida. In total, the company interlinks 379 vacation destinations in 35 countries and is a great competition to Topgolf.
The report showed a revenue of $954.04 million last year. Moreover, it employs around 5000 plus employees. The company even sponsors celebrities like the PGA Tour by Brian Gay, LPGA by Brittany Lincicome, and MLB of Gaylord Perry. Diamond Resort has a market trend on the rise and is giving much competition to Topgolf compared to quality and elements of surprise.
THE TRUMP ORGANIZATION
The Trump Organization, founded in the year 1923, is a company that specializes in marketing, real estate development, sale, and property management of luxurious places. This group brings together 500 business entities, of which Donald Trump is the sole owner. The company today serves as the main holding company of all Trump’s business ventures and investments. With investment extending to parts of Asia, the U.S., Europe, and other continents.
The organization mainly deals in entertainment, construction, hospitality, and real estate. It also has spread its branch to food, beverages, video games, online travel, business education, airlines, etc. The organization currently holds an employee strength of 22,540 and has earned annual revenue of $446 million in 2019. A large part of its revenue comes from the Trump National Doral Miami golf resort, serving as a top competitor for Topgolf.
Game golf is an idea launched to serve the golf business, inspiring golfers with innovative active mind technology. It is the most recent influential organization, which was first founded in the year 2014. Also, it is the recent world leader of indoor intelligence, challenging Topgolf at its every step, creating revenue of 5M dollars. Game Golf has its headquarters situated in C.A., the U.S., and San Francisco. The company has also partnered with PGA of America and with Golf Channel. Game Golf’s technology has been used in over 135 countries, and over 3 million rounds played. The application employs several artificial language tools and specializes in interpreting, capturing, and giving context. The company’s total revenue of the total funding of the business is $16.3 million, and it is still planning to set a new benchmark for golfers.
Golf Channel is a golf entertainment, multimedia, and service company employing around 745 employees. The co-founder of this company is Arnold Palmer, who established the company in 1995. The channel has nearly 500 million users and is showcased in over nine different languages across 70 different countries. Further, it features many live coverage shows, including global events like NCAA, PGA Tour, NCAA, LPGA tour, Olympics, etc.
Golf Channel has around 1100 employees and is currently making $225.5M every year. When it was first launched, it was a single-sport cable network, but now it has grown much into a T.V. network competing with top brands like Drive Shack and Topgolf to improve golf fans’ experience. The net worth of the channel now stands at $187.36 thousand.
DAVE & BUSTER’S
Dave & Buster’s, founded in 1982 by James Buster and David Corriveau, is the biggest competitor of Topgolf. It is an American entertainment and restaurant business, having its headquarter in Dallas. The company offers a full-service restaurant and a video arcade section that features attractive stimulators and interactive games. Dave & Buster’s also sponsored ultimate fighting championships as fundraising events.
It competes with Topgolf in the area of toys and games section. However, Topgolf defeats it by earning 237.4 million dollars more in comparison to Dave & Busters. Dave & Buster’s revenue amounted to 0.44 billion U.S. dollars in 2021. They are aggressively working on their growth strategy and have opened 14 new stores, thus making them one of the toughest competitors of TopGolf.
Started in the year 1982, Levy Restaurant continues to provide an extravagant place to dine and enjoy. It is headquartered in Illinois. Levy Restaurant offers 200 exhilarating locations, including arenas, ballparks, convention center, golf, racing, stadium, and venues for special events. It has partnered with some of the best tournaments like PGA Tours, 3M championship, The National, Toshiba Classic, and more.
The top 10 Topgolf competitors are DriveShack, Bigshots Golf, MainEvent, Salamander Innisbrook, Diamond Resorts, The Trump organization, Game Golf, Golf Channel, Dave & Buster’s, and Levy Restaurant. Together they have raised over 4B between their estimated 34K+ employees. Topgolf has 6295 employees and is ranked 1st among its ten competitors. The top 10 competitors average 34,000 employees.
Darrell Burges - Business Analyst & Technical Writer
Darrell Burges is a skilled business analyst and a technical writer for WCS. Based on his 5+ years of experience, he writes in-depth articles about competing companies and encourages individuals to explore alternatives in the business world. He is the one who knows how to engage you in the world of competitors and explain complex concepts in simple terms.