TruGolf Links Signs Inaugural Franchise Development Deal with New Jersey Businessman
TruGolf Links Franchising, , a subsidiary of TruGolf Holdings, Inc. (Nasdaq: TRUG), has signed its first regional development deal with New Jersey entrepreneur Nicholas Reimondo. The agreement grants Reimondo rights to open 40 TruGolf Links locations across Central and Northern New Jersey and Bucks County, Pennsylvania.
TruGolf Links offers a franchise program featuring state-of-the-art golf simulator facilities with five or more simulator bays, an upscale bar, dining area, and pro shop. The company is focusing on Regional Developers who acquire territories of 1M+ population, open flagship locations, and develop additional units.
This deal marks a significant step in TruGolf's expansion strategy, aiming to fuel the indoor golf simulator scene with modernized technology and make golf more accessible year-round.
TruGolf Links Franchising, una sussidiaria di TruGolf Holdings, Inc. (Nasdaq: TRUG), ha firmato il suo primo accordo di sviluppo regionale con l'imprenditore del New Jersey Nicholas Reimondo. L'accordo concede a Reimondo i diritti per aprire 40 locali TruGolf Links in tutto il New Jersey centrale e settentrionale e nella contea di Bucks, Pennsylvania.
TruGolf Links offre un programma di franchising che prevede strutture per simulatori di golf all'avanguardia con cinque o più bays per simulatori, un bar elegante, un'area ristorazione e un negozio di articoli sportivi. L'azienda si sta concentrando su Sviluppatori Regionali che acquisiscono territori con una popolazione superiore a 1 milione, aprono locali di punta e sviluppano ulteriori unità.
Questo accordo rappresenta un passo significativo nella strategia di espansione di TruGolf, mirato a alimentare la scena dei simulatori di golf indoor con tecnologia modernizzata e rendere il golf più accessibile durante tutto l'anno.
TruGolf Links Franchising, una subsidiaria de TruGolf Holdings, Inc. (Nasdaq: TRUG), ha firmado su primer acuerdo de desarrollo regional con el empresario de Nueva Jersey Nicholas Reimondo. El acuerdo otorga a Reimondo los derechos para abrir 40 ubicaciones de TruGolf Links en Nueva Jersey central y del norte, así como en el condado de Bucks, Pennsylvania.
TruGolf Links ofrece un programa de franquicias que incluye instalaciones de simuladores de golf de última generación con cinco o más bays de simuladores, un bar de alta gama, un área de comedor y una tienda profesional. La empresa está enfocándose en Desarrolladores Regionales que adquieran territorios con una población de más de 1 millón, abran ubicaciones insignia y desarrollen unidades adicionales.
Este acuerdo marca un paso significativo en la estrategia de expansión de TruGolf, con el objetivo de impulsar la escena de los simuladores de golf indoor con tecnología modernizada y hacer que el golf sea más accesible durante todo el año.
TruGolf Links 프랜차이징은 TruGolf Holdings, Inc. (Nasdaq: TRUG)의 자회사로서, 뉴저지의 기업가 니콜라스 레이몬도와 첫 번째 지역 개발 계약을 체결했습니다. 이 계약은 레이몬도에게 중앙 및 북부 뉴저지와 펜실베니아의 벅스 카운티에 40개의 TruGolf Links 지점을 열 권리를 부여합니다.
TruGolf Links는 다섯 개 이상의 시뮬레이터 베이, 고급 바, 식사 공간 및 프로 샵이 포함된 최첨단 골프 시뮬레이터 시설을 특징으로 하는 프랜차이즈 프로그램을 제공합니다. 이 회사는 인구가 100만 이상인 영토를 획득하고 대표 지점을 개설하며 추가 단위를 개발하는 지역 개발자에게 초점을 맞추고 있습니다.
이 계약은 최신 기술로 실내 골프 시뮬레이터 장면을 활성화하고 연중 내내 골프를 더 접근 가능하게 만들려는 TruGolf의 확장 전략에서 중요한 단계를 의미합니다.
TruGolf Links Franchising, une filiale de TruGolf Holdings, Inc. (Nasdaq: TRUG), a signé son premier accord de développement régional avec l'entrepreneur du New Jersey Nicholas Reimondo. Cet accord accorde à Reimondo le droit d'ouvrir 40 établissements TruGolf Links dans le centre et le nord du New Jersey ainsi que dans le comté de Bucks, en Pennsylvanie.
TruGolf Links propose un programme de franchise comprenant des installations de simulateurs de golf à la pointe de la technologie, avec cinq ou plusieurs bays de simulateurs, un bar haut de gamme, un espace de restauration et un magasin professionnel. L'entreprise se concentre sur des développeurs régionaux qui acquièrent des territoires de plus d'un million d'habitants, ouvrent des sites phares et développent des unités supplémentaires.
Cet accord représente une étape significative dans la stratégie d'expansion de TruGolf, visant à dynamiser la scène des simulateurs de golf en intérieur avec une technologie modernisée et à rendre le golf plus accessible tout au long de l'année.
TruGolf Links Franchising, eine Tochtergesellschaft von TruGolf Holdings, Inc. (Nasdaq: TRUG), hat ihr erstes regionales Entwicklungsabkommen mit dem Unternehmer aus New Jersey, Nicholas Reimondo, unterzeichnet. Die Vereinbarung gewährt Reimondo das Recht, 40 TruGolf Links Standorte in Zentral- und Nord-New Jersey sowie im Bucks County, Pennsylvania, zu eröffnen.
TruGolf Links bietet ein Franchising-Programm mit hochmodernen Golf-Simulatoranlagen, die fünf oder mehr Simulator-Bays, eine gehobene Bar, einen Speisebereich und einen Pro-Shop umfassen. Das Unternehmen konzentriert sich auf regionale Entwickler, die Gebiete mit über 1 Million Einwohnern erwerben, Flagship-Standorte eröffnen und weitere Einheiten entwickeln.
Dieses Abkommen markiert einen bedeutenden Schritt in der Expansionsstrategie von TruGolf, die darauf abzielt, die Indoor-Golf-Simulator-Szene mit modernster Technologie zu beleben und Golf das ganze Jahr über zugänglicher zu machen.
- Signed first regional development deal for 40 new locations
- Expansion into new markets (New Jersey and Pennsylvania)
- Innovative franchise model with Regional Developer focus
- State-of-the-art golf simulator technology and facilities
- None.
Insights
TruGolf Links' inaugural franchise development deal marks a significant milestone in the company's expansion strategy. The agreement with Nicholas Reimondo for 40 locations in New Jersey and parts of Pennsylvania demonstrates strong investor confidence in the TruGolf Links concept. This deal could potentially accelerate TruGolf's market penetration and brand recognition in the East Coast region.
Key points to consider:
- The 40-location deal suggests a substantial financial commitment from the franchisee, indicating confidence in the business model.
- Reimondo's background in hospitality and entrepreneurship aligns well with the franchise operation, potentially increasing chances of success.
- The President's Circle initiative, offering benefits to early regional developers, could attract more high-quality franchisees and accelerate expansion.
- The focus on regional developers rather than individual franchisees may lead to faster, more coordinated growth in target markets.
However, investors should note that franchise success is not guaranteed. The indoor golf simulator market is competitive and TruGolf Links will need to differentiate itself to succeed. The company's ability to support franchisees and maintain consistent quality across locations will be important for long-term success and brand value.
The indoor golf simulator market is experiencing significant growth, driven by factors such as weather-independent play, technological advancements and increasing interest in golf among younger demographics. TruGolf Links' franchise expansion taps into this trend, potentially positioning the company for substantial market share gains.
Market considerations:
- The U.S. golf simulator market was valued at
$930 million in 2022 and is projected to reach$1.6 billion by 2030, with a CAGR of7.2% . - TruGolf's focus on making golf more Available, Approachable and Affordable aligns with industry efforts to expand the sport's appeal beyond traditional demographics.
- The franchise model, particularly the regional developer approach, could allow for rapid scaling and market penetration.
- Competition from established brands like Topgolf and new entrants in the indoor golf space may impact growth potential.
Investors should monitor the pace of franchise openings, customer adoption rates and TruGolf's ability to innovate and differentiate its offering in a growing but competitive market. The success of this initial franchise deal could serve as a bellwether for the company's future expansion prospects.
Iconic Golf Simulator Company Now Franchising Grants Local Entrepreneur Opportunity to Develop 40 New Centers
"I attended the International Franchise Expo in
Reimondo came to TruGolf Links with 17 years of hospitality experience working with Hyatt, Starwood Hotels and Deloitte consulting. In 2020, he challenged his entrepreneurial appetite and began working in his own Amazon Delivery Service Partner business, which allowed him to build capital for a larger investment. Now, with his substantial investment in TruGolf, Reimondo aims to bring the concept to the East Coast, fueling the indoor golf simulator scene with the most modernized technology.
"We could not be more excited to have Nick as our first developer, franchisee and member of the President's Circle," said Dr. Ben Litalien, Chief Development Officer, "He is an amazing businessman whose passion for golf now gives him the opportunity to develop a significant network of TruGolf Links Centers." The first ten Regional Developers who join TruGolf Links will make up the President's Circle, the company's franchise advisory council, along with receiving benefits such as reduced territory fees, enhanced sales and support compensation, and significantly discounted access to the world class TruGolf simulator bays.
"We started TruGolf Links because of our passion for golf any time of the year," said Chris Jones, founder and CEO of TruGolf, Inc. "We need to ensure both owner-operators and investors are supported, and we've developed an innovative approach to achieve this by offering a variety of growth paths. We are thrilled to officially hit the ground running with our first-ever franchisee to deliver our tech-forward vision to golfers everywhere."
TruGolf Links offers a comprehensive franchise program, including individual and regional developer opportunities. Each facility will feature TruGolf's state-of-the-art software and hardware, five or more simulator bays, an upscale bar and dining area, a club cleaning station, and a pro shop. The flagship is designed for 5,000 square feet or more and includes a unique double-size bay with stadium seating for events. Standard facilities will occupy 3,800 square feet or more, feature five standard simulator bays, and offer full food and beverage service.
For more information about TruGolf Links, visit www.trugolflinks.com. Connect on the brand's social pages by visiting https://www.linkedin.com/company/trugolflinks and/or https://www.facebook.com/trugolflinks/.
About TruGolf, Inc.
Since 1983, TruGolf has been passionate about driving the golf industry with innovative indoor golf solutions. TruGolf builds products that capture the spirit of golf. TruGolf's mission is to help grow the game by attempting to make it more Available, Approachable, and Affordable through technology - because TruGolf believes Golf is for Everyone. TruGolf's team has built award-winning video games ("Links"), innovative hardware solutions, and an all-new e-sports platform to connect golfers around the world with E6 CONNECT. Since TruGolf's beginning, TruGolf has continued to attempt to define and redefine what is possible with golf technology.
About TruGolf Links Franchising
While the company offers individual franchises, the focus of its expansion efforts is with Regional Developers who acquire a territory of 1M or more in population, open a flagship location within that territory, then develop the territory with additional units they own or with independent franchisees. Regional Developers are compensated for attracting franchisees and providing support locally to all TruGolf Links locations within their territory.
For more information about TruGolf Links franchise program, visit: www.trugolflinks.com/franchising.
View original content to download multimedia:https://www.prnewswire.com/news-releases/trugolf-links-signs-inaugural-franchise-development-deal-with-new-jersey-businessman-302210123.html
SOURCE TruGolf Holdings, Inc.
FAQ
How many TruGolf Links locations will be opened under the new franchise deal?
What features are included in a standard TruGolf Links facility?
What is TruGolf Holdings' stock symbol?
Who signed the first TruGolf Links franchise development deal?
