TruGolf Links Signs Inaugural Franchise Development Deal with New Jersey Businessman
Rhea-AI Summary
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.
Positive
- 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
Negative
- None.
News Market Reaction
On the day this news was published, TRUG gained 3.70%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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.
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SOURCE TruGolf Holdings, Inc.
FAQ
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