Golf Envy Franchise Cost, Revenue & Review 2026
- Investment
- $349K – $697K
- Disclosed sales
- partial, no system average
- SBA charge-off
- Under 10 loans (6)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Golf Envy is a recreation franchise operating 24-hour indoor golf simulator venues with famous virtual courses. Franchisees run the facilities, managing simulators, bookings, and memberships.
FranchiseVerdict summary · 2026
A Golf Envy franchise requires a total initial investment of $349K – $697K, including a $50K franchise fee and an ongoing 8.0% royalty[2]. The 2026 FDD on file does not yield a unit-revenue figure we can publish. FranchiseVerdict grade: D (Below average), an editorial assessment, not investment advice. Run a live ROI scan →
Limited operating history: franchising since 2026. A system this young has fewer than three years of Item 20 outlet history and rarely enough SBA loans for a charge-off rate, so its grade rests on less evidence than an established system's. Read its Item 20 tables and talk to its first franchisees before relying on the grade. Other new franchisors
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored5 of 5 headline figures on this page cite a page of the filing.
Overview
- Investment
- $349K – $697K
- 26th pct Recreation & …
- Avg gross sales
- N/A
- Company-owned onlyPartial periodn=2
- Royalty
- 8.0%
- 43rd pct Recreation & …
- Units
- 3
- 11th pct Recreation & …
- SBA charge-off
- N/A
Quick verdict · Recreation & Entertainment · color = vs category peers
Green = favorable by >10% vs Recreation & Entertainment median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $349K – $697K including a $50K franchise fee, 8.0% ongoing royalty.
- RETURNSTable 1 discloses combined annual Gross Sales of $424,118 for the 2 affiliate-owned Clubs (La Verne + Covina), which report their financials together as one set of statements for the full 2025 Measurement Period. Per-unit average = $424,118 / 2 = $212,059 (top-line gross sales). No high/low range, quartiles, or median is disclosed because the two Clubs are reported combined, so no range is shown (the filing does not disclose one, rather than a spread we could not read). The 'Gross Sales Less Imputed Expenses' line ($350,589 total) is NOT net income — per Note (7) no operating expenses (rent, labor, insurance, etc.) are deducted, only imputed royalty/marketing fees — so no average profit figure is shown. Table 2 (pre-sale revenue), Table 3 (rent/sq ft), and Table 4 (cost per lead) are not whole-unit annual gross and are excluded.
- RISKVerdict D (Below average), verdict score 33/100 (higher is better).
- GROWTHNegative, pipeline stalled: 16 agreements signed but not yet open against 3 open outlets (Item 20).
- DATAItem 19 reports historical rather than annual gross sales, so unit revenue is not directly comparable. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Golf Envy Franchising, LLC
- Parent company
- Zeze Holdings, LLC
- FDD Item 1, page 8 of the 2026 FDD
- CEO title
- Founder & Chief Executive Officer
- Ryan Wines
- Incorporated in
- California
- HQ
- 55 Peters Canyon Road, Irvine, California 92606
- Auditor
- Citrin Cooperman & Company, LLP
- Audited financials
- Franchisor revenue
- $658K
- vs $725 prior year
Affiliated brands
- Golf Envy
- Oaktin Consulting
- Quipix
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Ryan Wines
- Headquarters
- California
- Founded
- 2024
- FDD year
- 2026
- States available
- 1
Can you afford it, and what does the money buy?
Entry cost is about typical for a recreation & entertainment franchise (near the category median).
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown17 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $50K | $50K | |
| Opening Support Fee | $20K | $20K | |
| Local Marketing Requirement - Pre-Open (2 Months) | $6K | $6K | |
| Net Leasehold Improvements | $148K | $203K | |
| Architecture, Engineering and Design Fees | $13K | $17K | |
| Project Management Fee | $14K | $18K | |
| Signage | $7K | $15K | |
| Furniture, Fixtures & Equipment | $22K | $22K | |
| Golf Simulators | $18K | $238K | |
| Golf Simulator Software and Licenses - 3 Months | $2K | $2K | |
| Opening Inventory and Supplies | $500 | $1K | |
| Computer System and Required Software - 3 Months | $3K | $4K | |
| Training Expenses | $1K | $3K | |
| Lease Deposit and Rent - 3 Months | $20K | $30K | |
| Professional Fees, Permits and Licenses | $2K | $5K | |
| Insurance Premium - 3 Months | $3K | $4K | |
| Additional Funds (3 Months) | $20K | $60K | |
| Total initial investment | $349K | $697K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $349K – $697K
- Top 40% of category vs category
- Liquid capital req'd
- $20K – $60K
- Top 40% of category vs category
- Franchise fee
- $50K – $50K
- Top 40% of category vs category
- Royalty
- 8.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 7.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 8.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Training fee | $1K |
| Transfer fee | $10K |
| Renewal fee | $23K |
| Inventory (initial) | $500 – $1K |
| Total fee load | 7.0% of rev |
What do units actually make?
Source: FDD 2026 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
No Item 19 revenue figure for Golf Envy is on file. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Golf Envy unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2026 FDD
Financial Performance
Table 1 discloses combined annual Gross Sales of $424,118 for the 2 affiliate-owned Clubs (La Verne + Covina), which report their financials together as one set of statements for the full 2025 Measurement Period. Per-unit average = $424,118 / 2 = $212,059 (top-line gross sales). No high/low range, quartiles, or median is disclosed because the two Clubs are reported combined, so no range is shown (the filing does not disclose one, rather than a spread we could not read). The 'Gross Sales Less Imputed Expenses' line ($350,589 total) is NOT net income — per Note (7) no operating expenses (rent, labor, insurance, etc.) are deducted, only imputed royalty/marketing fees — so no average profit figure is shown. Table 2 (pre-sale revenue), Table 3 (rent/sq ft), and Table 4 (cost per lead) are not whole-unit annual gross and are excluded.
Company-owned outlets only - not franchisee performance
Covers a partial period, not a full year
Based on a sample of only 2
- Item 19 type
- historical
- Sample size
- 2
- vs category median 5 · small
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2025
- Transparency
- 6 / 10
- vs category median 4 / 10 · above
Compared against 165 Recreation & Entertainment brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 7.0% (near the Recreation & Entertainment median).
Disclosure
Item 19 reports historical rather than annual gross sales, so unit revenue is not directly comparable.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Recreation & Entertainment medians
How Golf Envy Compares
Category median of published Recreation & Entertainment brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 3
- Opened
- 1
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- N/A
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 33%
- vs corporate-owned
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 16
- 5.33 per open outlet · Item 20 Table 5
- Projected new
- 16
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 1 state reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
1
states with franchisees (per FDD Item 12)
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 6 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 6
- Loan volume
- $3.6M
- Median loan
- $583K
- 50th percentile
- Charge-off rate
- Under 10 loans (6)
- Insufficient SBA coverage: 6 loans, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (6)
- 5-yr charge-off
- Under 10 loans (6)
- Loans approved 2021+
- Active lenders
- 3
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Golf Envy presents material risk due to a microscopic 2-unit system, poor royalty economics relative to average revenue, and unvalidated financial claims without FDD Item 19 support.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation required to be disclosed.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Citrin Cooperman & Company, LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 33 / 100 verdict
- 01MINOROnly 2 existing units with unknown growth trajectory raises system viability questions
- 02MINOR7% royalty on $169,880 avg revenue yields only $11,892 annually—below the $12,500 minimum, meaning most franchisees hit the minimum royalty floor immediately
- 03MINORExtremely small franchisee base (2 units) prevents meaningful performance validation and increases likelihood of cherry-picked data
- 04MINOR10-year term is long for an unproven 2-unit franchise system with no demonstrable unit growth
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 7.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory sizeℹ | No minimum size; territory defined by radius or geographic boundaries (zip codes, streets, landmarks, county lines) at franchisor's sole discretion based on population/demographics |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 20 |
| Curable defaultsℹ | 7 |
| Mandatory arbitration | Yes |
| Arbitration location | Irvine, California |
| Jury trial waiver | No |
| Governing law | California |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed.
Items 10, 11
Training & Operations
- Classroom training
- 38 hrs
- On-the-job training
- 19 hrs
- Training location
- Southern California designated training facility (virtual + in-person)
- Ongoing training
- Required
- Time to open
- 9 mo
- From signing to launch
- Site selection
- franchisee
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
1 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Golf Envy franchise?
The total investment to open a Golf Envy franchise ranges from $349K – $697K, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Golf Envy franchise owners earn?
Item 19 of the Golf Envy FDD discloses figures for part of the system but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Golf Envy?
Golf Envy is franchised by Golf Envy Franchising, LLC. Its parent company is Zeze Holdings, LLC. Source: FDD Item 1, 2026 filing.
What is Item 19 in the Golf Envy FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Golf Envy FDD and qualifies whose outlets they describe.
What is Golf Envy's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Golf Envy (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Golf Envy franchise locations are there?
As of their most recent FDD filing, Golf Envy has 3 total units in the United States, including 1 franchised units and 2 company-owned units. 1 new units were opened in the latest reporting year.
Is Golf Envy a good franchise to buy?
FranchiseVerdict rates Golf Envy as a D-grade franchise with a verdict score of 33 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
Are you the franchisor?
If you represent Golf Envy, you can request corrections or provide updated information.
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.