Entertainment Center Seeking Loan in Tacoma, United States

We are a new brand for the existing golf centre, getting out of the golf business and getting into the golf entertainment business. Huge improvement in customers and cash flow, check out the video of the site as construction trailers are being delivered.

Permit Ready: Project has been permitted and work was started before Covid shut us down. Foundation and slab are in with structural steel on site.

Ball Tracking Technology: TrackMan range will be providing the ball tracking system along with games and a library of 150 virtual golf courses to play.

Real Golf Ball: Going to a range with limited-flight golf balls has always been a disappointment for the avid golfer. By using a solid two-piece golf ball we can provide the golfer with great technology to make the statistics more usable.

The menu items are prepared by an award-winning chef. He will create a need to return. So many great flavours from all over the world will generate repeated customer traffic in a huge way. Great service along with fun games in a small group environment with family and friends has proven to be very popular over the past 17 years.

Special Events: The demand for small places to meet and hold business meetings is going to explode. With so many employees working from home, we will provide local businesses with a place to train, meet, eat and have fun all under one climate-controlled roof. We can provide spaces for 100 or 250 occupancy gathering spaces along with a 36-person space and a 12-person boardroom space. Our facility can host up to 70,000 customers for an event.

Customers: When Topgolf looked at Tacoma they were expecting 500,000 customers annually; our conservative approach is for 360,000 customers at an average spend of $45 to create annual revenue of over $16M.

Land: The property is located at 4504 S Tyler St, Tacoma WA and has been in business since 2001. Located on 32 acres with a 55-year land lease with the City of Tacoma the site is accessible from multiple directions. The new 160-acre Bridge Point Tacoma distribution development centre is towards the east of our site and can add to our traffic count as it will bring over 1,000 customers. From an operational standpoint, the land lease is very favourable for the tenant. The industry average for restaurant building leases is anywhere from 3%-7% of gross revenue.

Professional Management: We will be working with Columbia Hospitality to perform the day-to-day operations. With over 2000 employees in the golf and event space business, they are well equipped to handle any issue.

Appraisal: Hunnicutt & Associates was hired to complete an appraisal for the project, once it is built and the value came in at $29.5M. We are looking for $15.5 M to complete the build-out.

Experience: With over 20 years of experience running the range, PGA Member & business owner is ready to enhance this old business with the new golf entertainment center concept. Topgolf has been in business for 17 years and has made it through 2 recessions and a pandemic with a 100% success rate. This business concept has proven outdoor entertainment with food and beverages served with small groups of family and friends is a winner!

Investment Opportunity: Any combination of debt/equity will be looked at with speed being a very important factor in completing the project. We have an owner who is willing to be a guarantor and a bondable contractor with over 70 years of building experience. With annual revenue of $16M and an EBITA of 30%, We have an attractive opportunity for the investor.

We have the following products and services:

1) 80 bay driving range.

2) Restaurant and 2 bars.

3) Golf gaming technology.

4) Golf retail and customer club fittings.

5) Mini golf.

6) Professional golf lessons.

7) Event spaces for business and non profit fund raisers.

Appraised building value of $29,500,000 once building is completed.

We are a two-story building with 40,000 sqft of space including the tree line. The site we are leasing from the city of Tacoma is 32 acres in size.