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Top Golf valued at $2 billion. Wow.
Geoff Shackelford chimes in...“Topgolf is the best thing that happened to golf since Tiger Woods,” Callaway Chief Executive Chip Brewer said in an interview. “It’s going to be the largest source of new golfers for our industry.”....this seems like a steal for Callaway and CEO Brewer given several factors: Topgolf’s popularity, the likelihood of the facilities bouncing back in better times, and the ability to introduce new golfers to Callaway clubs, or sell directly to avid golfers.https://www.geoffshackelford.com/homepage/2020/10/27/callaway-buys-topgolf-in-all-stock-deal
TopGolf is a bar, with golf as a side attraction.
Anytime you go to a Top Golf location you're sure to see a bunch of Callaway branded equipment and apparel. I'm sure all the junky clubs there now will be Callaway branded before too long. It's a great niche for them to further grow their brand and sell more product. I applaud them for the move.
They'll also have enough regular customers at these locations to go all-in on Kingdom-like fittings - it's a retail homerun but I think so much more.
Where's my electronic ball dispenser?Where's the waitress?Where's the specialty cocktail menu?What was my score on that shot?Why can't I hear the music?Where are all the giant TVs?Wait, we're going to be out here four and a half hours?I could go on, but I'm skeptical that many people introduced to golf via Top Golf will take any real interest in the game we know as golf. Other than hitting a golf ball with a golf club, it's an entirely different experience in almost every conceivable way. (As said by others above as well.)
Hit the ball, go find it, hit it again, go find it, rinse, repeat...for 4.5 to 5 hours, (not including travel time or practice time if they want to improve)? I'm highly doubtful the Top Golf crowd are gonna stick with that!Its a bit like jamming to Guitar Hero, and then signing up for Guitar lessons...nope, nope, nope!
Quote from: Bernie Bell on October 27, 2020, 01:53:54 PMTop Golf valued at $2 billion. Wow.Do you mean Wow, that's high? Or Wow, that's way down.Back in January there was talk that it would IPO at a $4B valuation. So it is down 50% from then.Topgolf IPO Could Value Company at $4 Billion
If I read your post correctly, 75% of the 23% who convert over, or 17.5%, is still a pretty low conversion rate. But hey real golf can use all the help it can get right?P.S. Perhaps they can convert the upper deck to a Vegas style, 21 and over, adults only area with other activities to lure them in...
Its bowling, with better looking participants