Back Nine

Entertainment & Recreation

FDD Year: 2025

Item 19 Available

Back Nine^®

Entertainment & Recreation • Year: 2025

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Business Model Overview

The Back Nine is a franchise for operating a 24-hour indoor golf facility in the indoor sports / golf facilities market. The operational model is a brick-and-mortar outlet requiring location, construction, and design of a dedicated facility. It targets individual golfers seeking an indoor golf experience, including simulator play, club fittings, lessons, and event space (B2C). The core service bundle centers on three to five Full Swing simulators, club fitting services, golf lessons, and party and event space.

Pros & Cons Analysis

Pros

Very low franchisee turnover and closures (terminations, non‑renewals, reacquisitions at or near zero) — suggests strong outlet stability and lower operational risk.

Cons

Extremely low reported gross sales and performance stability across metrics (average/median/high/low sales substantially below peers) — indicates poor profitability potential.

Initial franchise fee is substantially above peers (about $50,000) — increases upfront capital required and payback risk.

High number of signed-but-not-open outlets (substantially above peers) — signals execution/delivery delays that can defer revenue and growth.

Legal Risk Score

100

Excellent

The franchise reported no legal proceedings.

Territory Protection Score

23/100

POOR

The franchisee receives a protected but not exclusive territory, a common but less safe arrangement. However, the franchisor can shrink the territory for non‑performance and compete directly online while the franchisee lacks a right of first refusal, undermining security and resulting in a weak score of 23/100.

Training & Support Score

42/100

NORMAL

Back Nine’s training and support is adequate: it provides on-site assistance and training for up to three people under the initial fee but totals only 20 hours—a limited number. On-site support is available but carries additional costs, and the franchisor does not cover trainees’ living expenses.

Executive Summary

This opportunity is highly capital‑intensive: a non‑refundable $50,000 franchise fee plus substantial build‑out and equipment costs (equipment $156k–$251k; real‑estate improvements $25k–$150k, plus signage, furniture and rent) create a large upfront cash requirement. Performance data show average monthly revenue of ~$16,238 and a median of ~$12,372 across 22 franchised units, with wide dispersion (high $64k, low $3k) and low reported stability—this right‑skew and non‑audited Item 19 are a high‑risk indicator for predictability. Growth signals are mixed: 28 signed outlets (many not yet open) suggest rapid sell‑through but also execution risk, and the leadership team has limited franchise experience, which is a governance concern. Territory protections are weak (score 23/100) and the franchisor can sell online, shrink territories for nonperformance, and impose additional mandatory training costs—features that materially increase operational and competitive risk.

Financial Performance Analysis (Item 19)

Average Gross Sales:

$16,238

Median Gross Sales:

$12,372

High Gross Sales:

$64,043

Low Gross Sales:

$3,146

Sample Size:

Audited:

Franchise vs Corporate Performance: The Item 19 dataset is based on 22 operating franchised outlets (the FDD notes 26 franchised and 2 affiliate-operated outlets overall but only 22 outlets are included in the historical financial representations). The reported summary metrics are for franchised locations and exclude four franchised outlets with fewer than three simulator bays (the franchisor does not offer that model for franchising).

Performance Variability Analysis: There is wide performance dispersion: the rolling 12‑month average monthly revenue shown is approximately $16,238 while the rolling 12‑month median is lower (~$12,372), indicating a right‑skewed distribution. The highest single‑unit month is $64,043 and the lowest observed month is $3,146. Bucket counts show concentration in the midrange (3 locations > $25k/month, 17 locations between ~$10k–$24k/month, and 2 locations < $10k/month), so a small number of high performers materially raise the mean above the median.

Data Scope and Limitations: Figures represent total revenue (membership, hourly use, lessons, events, etc.), with data covering through early 2025 (monthly data Nov‑24 through Feb‑25 and rolling 12‑month/last‑3‑month summaries). The Item 19 disclosure does not state that the summarized figures are audited; written substantiation is available upon request. The franchisor explicitly warns that individual results will vary and there is no assurance a new outlet will achieve these amounts.

Investment Requirements

Total Outlets:

Company Owned Units:

Franchised Units:

Risk Analysis

legal_risk_score: 100.0 vs 75.56427596483888 industry avg

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