The Swing BaysFranchise Cost, Revenue & Review 2026
Data from FDD filing
FranchiseVerdict summary · 2026
A The Swing Bays franchise requires a total initial investment of $246K – $999K, including a $40K franchise fee and an ongoing 6.0% royalty[2]. Per the 2025 FDD, average unit revenue was $1.0M[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $246K – $999K
- 45th pct Education
- Avg gross sales
- $1.0M
- 34th pct Education
- Royalty
- 6.0%
- 6th pct Education
- Units
- 1
- 2nd pct Education
- SBA default
- N/A
Quick verdict · Education · color = vs category peers
Green = >15% above Education avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Started franchising in 2024. Newer systems carry more uncertainty but may offer better territories.
Bottom line
- Total investment $246K – $999K including a $40K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $1.0M/year.
- Verdict A (Top Quintile) with a risk score of 37/100.
- Revenue data based on only 1 reporting unit. Treat as directional, not definitive. Ask franchisees directly for current unit economics.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- The Swing Bays Franchise, LLC
- Parent company
- Dustin Miller Golf LLC
- Incorporated in
- CO
- HQ
- 11183 South Parker Road, Unit A, Parker, CO 80134
- Auditor
- DA Advisory Group PLLC
- Audited financials
- Franchisor revenue
- $0
- Most recent fiscal year
Affiliated brands
- The Swing Bays
Other brands the franchisor or its parent operates (Item 1).
Overview
About
The Swing Bays operates indoor golf simulator bays (likely golf entertainment/practice venues). Franchisees manage facility bookings, customer experience, food/beverage service, and maintenance of golf simulation technology. Revenue streams typically include bay rental hours, memberships, tournaments, and ancillary sales.
- CEO
- Dustin Miller
- Headquarters
- CO
- Founded
- 2024
- FDD year
- 2025
- States available
- 0
FDD Item 7 · 2025 filing · 22 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $40K | $40K | |
| Lease Payments (3 Months)not refundable | $12K | $54K | |
| Security Deposits | $4K | $17K | |
| Delayed Opening Feenot refundable | $0 | $6K | |
| Architectural Feesnot refundable | $5K | $20K | |
| Construction & Leasehold Improvementsnot refundable | $30K | $300K | |
| Furniture & Fixturesnot refundable | $8K | $50K | |
| Signagenot refundable | $5K | $40K | |
| Golf Simulators & Golf Equipmentnot refundable | $100K | $200K | |
| Computer System and POS Systemnot refundable | $2K | $10K | |
| Business Licenses and Permits (Excludes Alcohol Permit)not refundable | $500 | $4K | |
| Professional Feesnot refundable | $1K | $5K | |
| Opening Inventory & Suppliesnot refundable | $3K | $25K | |
| Insurance (3 Months)not refundable | $900 | $3K | |
| GM Certification Feenot refundable | $0 | $5K | |
| Travel & Living Expenses for Trainingnot refundable | $500 | $5K | |
| Grand Opening Advertisingnot refundable | $15K | $30K | |
| Ancillary Real Estate Costsnot refundable | $0 | $25K | |
| On-Site Location Evaluation Feenot refundable | $0 | $5K | |
| Gym Buildout (if not included in floorplan)not refundable | $0 | $50K | |
| Total initial investment | $246K | $999K |
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.
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$152K
15.0% margin
Unlevered ROIC
23%
EBITDA / total invested capital
Payback
4.4 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $246K – $999K
- Near category avg vs category
- Liquid capital req'd
- $20K – $80K
- Better than avg vs category
- Franchise fee
- $40K – $40K
- Better than avg vs category
- Royalty
- 6.0%
- Gross Revenues · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $700 |
| Transfer fee | $15K |
| Renewal fee | $5K |
| Inventory (initial) | $3K – $25K |
| Total fee load | 8.0% of rev |
Financial Performance
- Avg gross sales
- $1.0M
- Per unit, per year
- Median gross sales
- N/A
- Item 19 type
- Affiliate-Owned Location
- Sample size
- 1 units
- vs category median 14 · small
- Transparency tier
- revenue_only
- Categorical assessment of disclosure depth
- Transparency
- 9 / 5
- vs category median 4 / 5 · above
Compared against 237 Education brands
vs Education averages
How The Swing Bays Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 1
- Opened
- 0
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 0
- Transfers (3yr)
- 0
- Projected new
- 0
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 17 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Available to sell in · Item 12
- California
- Hawaii
- Illinois
- Indiana
- Maryland
- Michigan
- Minnesota
- New York
- North Dakota
- Rhode Island
- South Dakota
- Virginia
- Washington
States where the franchisor is registered to sell new franchises (FDD registration filings).
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Extreme early-stage franchise with unvalidated unit economics, undisclosed franchisor financial health, and no peer franchisees for reference — high execution and support risk.
Litigation (Item 3)
0 case reference(s): 0 pending, 0 settled.
Largest disclosed settlement: $200,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · DA Advisory Group PLLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: No
Score breakdown · what drove the 37 / 100 rating
- 01MINOROnly 1 franchised unit reported — extreme lack of system validation and growth trajectory data
- 02HIGHGoing Concern status is FALSE — indicates potential financial instability or uncertainty at franchisor level
- 03MINORWide investment range ($246.4K–$999K) suggests inconsistent build-out costs or undefined support model
- 04HIGHNo disclosed litigation but single-unit system limits legal history visibility and franchisee protection precedent
- 05MINORItem 19 (Financial Performance Representations) absent — cannot independently verify claimed $1.01M average revenue or $161K net income figures
- 06MINOR6% royalty on $1.01M revenue = ~$61K annual ongoing fees, compressing already-modest net margins
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Radius |
| Protected territory | Yes |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Colorado |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 0 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 10 hrs
- On-the-job training
- 30 hrs
- Training location
- On-site and corporate
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
22 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
The Swing Bays · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a The Swing Bays franchise?
The total investment to open a The Swing Bays franchise ranges from $246K – $999K, with an initial franchise fee of $40K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do The Swing Bays franchise owners earn?
According to Item 19 of the The Swing Bays FDD, the average gross sales per unit is $1.0M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is The Swing Bays's franchise failure rate?
SBA 7(a) loan charge-off data is not available for The Swing Bays (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 The Swing Bays franchise locations are there?
As of their most recent FDD filing, The Swing Bays has 1 total units in the United States, including 0 franchised units and 1 company-owned units.
Is The Swing Bays a good franchise to buy?
FranchiseVerdict rates The Swing Bays as a A-grade franchise with a risk score of 37 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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.
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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.