TruGolf Launches National Franchising Initiative with Regional Developer Model
Leading Seller and Distributor of Golf Simulator Software and Hardware Launches
TruGolf Links Franchising and Aggressive Growth Strategy with Regional Developer Model
SALT LAKE CITY, June 04, 2024 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (NASDAQ:TRUG) ("TruGolf"), among the leading sellers and distributors of golf simulator software and hardware, working with Franchise Well, a renowned franchising consultancy firm, has created and launched a global franchise offer through TruGolf Links Franchising, a wholly owned subsidiary committed to building a powerful franchise network of retail golf and gaming locations. The Company's franchise offer features the Regional Developer Model which allows investors to own a territory with a population of 1 million or more, open and operate a flagship location, and act as the Company's agent to sell and support independent franchisees in the territory. The Company will compensate the regional developer for their services, creating multiple revenues streams.
"The demand for indoor golf is driving the need for a world-class business model like TruGolf Links, a concept developed by avid golfers to meet the demands of players worldwidefor golf anytime," commented Chief Development Officer and Certified Franchise Executive Dr. Ben Litalien., ". An estimated 6.2 million Americans hit golf balls with a club in a golf simulator within the past year, a total that's jumped 73% compared to pre-pandemic levels, according to a new report from the National Golf Foundation. Our franchisees will bring a state-of-the art facility with TruGolf's industry leading Apogee hardwareand E6 Apex software to their local communities, along with a full assortment of Arcade style games, a full bar and snack shop, leagues, lessons, and membership offerings."
TruGolf Links is exhibiting at the International Franchise Expo in New York City on May 30 through June 1 at the Javits Center, the largest premier global franchise show in the U.S. Thousands of franchise prospects nationally and internationally will attend to consider a multitude of franchise offers. This will be TruGolf Links initial exposure to the franchise market and the company hopes to identify several regional developer candidates at the show. The first ten Regional Developers will be in the Presidents Club, which provides them with reduced territory fees, increased sales and support compensation, and access to TruGolf hardware and software at a significant reduction.
"We started TruGolf Links because of our unwavering passion for golf anytime," said Chris Jones, CEO of TruGolf. "It was crucial for us to ensure both owner-operators and investors could succeed, and we've developed an innovative approach to achieve this by offering a variety of growth paths. We are thrilled to officially launch our franchise program to deliver our vision of ‘Golf Easy' to golfers everywhere."
In addition to the individual TruGolf Links franchise offering, the company offers a regional developer franchise with territories for development, featuring multiple revenue streams, a robust operating system, a proprietary reporting and management platform that is mobile enabled, an intensive training system, and a turnkey marketing program for grand opening and membership development. Utilizing TruGolf's world renowned software and hardware, each facility will have five or more simulator bays, feature an upscale full bar and food offering, a club cleaning station and pro shop. Our 5,000 square foot flagship design features a double-size bay with stadium seating on a raised platform for maximum entertainment and group events. The standard facility will have five simulator bays in 3,800 square feet with the full food and beverage offering.
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 it 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.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "will," "believe," "anticipate," "expect," "estimate," "intend," "plan," or their negatives or variations of these words, or similar expressions. All statements contained in this press release that do not strictly relate to matters of historical fact should be considered forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, the risk that we and our current and future collaborators are unable to successfully develop and commercialize our products or services, or experience significant delays in doing so; the risk that we may never achieve or sustain profitability; the risk that we will need to raise additional capital to execute our business plan, which may not be available on acceptable terms or at all; the risk that we experience difficulties in managing our expected growth and expanding operations; the risk that third party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that we are unable to secure or protect our intellectual property; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties discussed under the "Risk Factors" section of the Company's prospectus in the registration statement on Form S-1 filed with the Securities and Exchange Commission on February 14, 2024, and the Company's periodic filings with the SEC. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. Any forward-looking statement made in this press release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, the Company expressly disclaims any obligations to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
For more information about TruGolf Links franchise program, visit: https://trugolflinks.com/pages/franchising.
| CONTACTS: | Brenner Adams | Ciera Willis |
| [email protected] | [email protected] | |
| (801) 298-1997 | (713) 829-8770 | |
| trugolflinks.com |
