For Make Money Monday this week, I thought I’d discuss a business concept that I have never considered before – franchising. I recently attended an instruction session at a golfTEC, courtesy of the Ladies Dinner Club. golfTEC offered our group complimentary golf swing analyses via Professional Golfers Association (PGA) professionals and computer graphics technology. They use a camera and biotech feedback to record and provide comparisons of your swing to professional averages. They even have video shorts recorded of PGA professionals such as Tiger Woods taking swings at the ball and provide a video close-up of you in split screen with the professional. This was a very valuable tool used to provide a side-by-side comparison. Using a graphics pen, the professional instructor could draw lines to show one’s own body angles when hitting a golf ball as compared with a PGA professional. This method of instruction was very beneficial.
golfTECs are owned by investors, including PGA and Ladies PGA (LPGA) professionals. According to the company’s website, golfTEC is a brand recognized by the PGA of America as certified indoor teaching centers and almost all of the instructors are PGA or LPGA professionals. All instructors are golfTEC certified instructors.
According to entrepreneur.com golfTEC is ranked #43 in the top home based franchises and #1 in its category of franchises. Entrepreneur.com also lists a total investment in golfTEC between $111.5k and $427.7k with a franchise fee of between $17.5k and $35k.
Benefits of Business
Golf enthusiasts that value the game of golf may find pursuing a golfTEC franchise as a way to connect with industry players while teaching others how to improve their golf game. Just as with any business venture, there are certainly risks, but also many potential rewards. Why not franchise a golfTEC?
Have you ever considered franchising a business? What’s your take?