X-GolfFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A X-Golf franchise requires a total initial investment of $1.1M – $1.8M, including a $40K franchise fee and an ongoing 7.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). SBA 7(a) loans show a 3.3% charge-off rate across 146 loans[1]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $1.1M – $1.8M
- 35th pct Recreation & …
- Avg gross sales
- N/A
- 23rd pct Recreation & …
- Royalty
- 7.0%
- 18th pct Recreation & …
- Units
- 126
- 39th pct Recreation & …
- SBA default
- 3.3%
- system-wide median varies by category
Quick verdict · Recreation & Entertainment · color = vs category peers
Green = >15% above Recreation & Entertainment 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
The system grew 23% year-over-year. Fast growth means demand, but can strain support.
Bottom line
- Total investment $1.1M – $1.8M including a $40K franchise fee, 7.0% ongoing royalty.
- Item 19 discloses "Historic sales per simulator" rather than annual gross sales, so unit revenue is not directly comparable.
- Verdict A (Top Quintile) with a risk score of 25/100. SBA loan charge-off rate of 3.3% across 146 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2024).
- System growing at 74.3% CAGR over 3 years with 126 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- X GOLF Franchise Corporation
- Parent company
- X GOLF America, Inc.
- Incorporated in
- CA
- HQ
- 1963 Del Amo Blvd, Torrance, CA 90501
- Auditor
- UHY LLP
- Audited financials
- Franchisor revenue
- $3.1M
- vs $4.8M prior year
Overview
About
X-Golf franchisees operate golf entertainment simulators and facilities, allowing customers to play virtual rounds on famous golf courses using advanced swing analysis technology. Day-to-day operations include managing customer bookings, maintaining simulator equipment, providing coaching/instruction, managing food/beverage service, and overseeing facility maintenance. Revenue is primarily derived from per-round simulation fees, memberships, food/beverage sales, and instruction packages.
- CEO
- Michael Ruvolo
- Headquarters
- CA
- Founded
- 2015
- FDD year
- 2025
- States available
- 33
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $40K | $40K |
| Working capital (3–6 mo) | $60K | $90K |
| Equipment, build-out, other | $1.0M | $1.6M |
| Total initial investment | $1.1M | $1.8M |
Source: X-Golf 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $1.1M – $1.8M
- Better than avg vs category
- Liquid capital req'd
- $60K – $90K
- Better than avg vs category
- Franchise fee
- $40K – $40K
- Better than avg vs category
- Royalty
- 7.0%
- Adjusted Gross Sales · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $2K |
| Transfer fee | $20K |
| Renewal fee | $20K |
| Total fee load | 8.0% of rev |
Financial Performance
This brand's FDD disclosed "Historic sales per simulator" in Item 19 rather than annual gross sales. This metric cannot be directly compared across brands, so we omit it from rankings.
vs Recreation & Entertainment averages
How X-Golf Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 126
- Opened
- 22
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 4
- Corporate units in the system
- % franchised
- 97%
- vs corporate-owned
- Net growth (yr3)
- +23.2%
- Net unit change last year
- 3-yr CAGR
- +74.3%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 1
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 29 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.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 146
- Loan volume
- $89.6M
- Median loan
- $591K
- 50th percentile
- Charge-off rate
- 3.3%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 96.7%
- 5-yr charge-off
- 10.0%
- Loans approved 2021+
- Active lenders
- 21
- Defaults
- 1
Vintage analysis
X-Golf charge-off rate by loan vintage
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into X-Golf's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 10 lenders with concentration factor
- Per-state charge-off rates across 15 states
- Startup risk premium and job creation velocity
- 10-year lending trend
- SBA 504 real estate/equipment data
Instant access. No subscription.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
X-Golf presents elevated risk due to ongoing litigation involving management misconduct, undisclosed profitability metrics, and going concern issues, despite strong unit growth that may mask poor unit-level economics.
Audited financials (Item 21)
Yes · UHY LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 25 / 100 rating
- 01MEDNo Item 19 (Average Unit Volume) disclosed - inability to verify $99,000 average revenue claim or validate profitability
- 02HIGHActive litigation involving fraud allegations, breach of fiduciary duty, and revenue siphoning by former management raises governance and trust concerns
- 03MEDHigh initial investment ($1.13M-$1.76M) combined with undisclosed net income creates unfavorable risk-reward profile
- 04MINOR7% royalty on adjusted gross sales reduces already-thin margins in golf entertainment sector
- 05MINORRapid 23.2% YoY unit growth may indicate aggressive recruitment masking underlying unit economics problems
- 06HIGHGoing Concern status is False - potential financial viability concerns at corporate level
- 07MINORProtected territory alone insufficient to offset operational and financial uncertainties
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 | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Radius |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | California |
| Litigation count | 2 |
Items 10, 11
Training & Operations
- Classroom training
- 5 hrs
- On-the-job training
- 9 hrs
- POS system
- Square
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Square
Item 20 · call current owners
Franchisee Contacts
99 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
X-Golf · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a X-Golf franchise?
The total investment to open a X-Golf franchise ranges from $1.1M – $1.8M, 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 X-Golf franchise owners earn?
X-Golf does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is X-Golf's franchise failure rate?
Based on SBA 7(a) loan data, X-Golf has a charge-off rate of 3.3% across 146 loans, meaning 3.3% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many X-Golf franchise locations are there?
As of their most recent FDD filing, X-Golf has 126 total units in the United States, including 70 franchised units and 4 company-owned units. 22 new units were opened in the latest reporting year.
Is X-Golf a good franchise to buy?
FranchiseVerdict rates X-Golf as a A-grade franchise with a risk score of 25 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.