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X-Golf

X-Golf

The total investment to open a X-Golf franchise ranges from $487,550 to $1.1M. The initial franchise fee is $35,000. Ongoing royalties are 7% plus a 1% advertising fee.

What is the X-Golf franchise?

The Xgolf franchise is built around demand for accessible, year round, social golf entertainment that is less affected by weather, time constraints, and the cost of traditional golf. The concept combines golf simulation technology with a bar and restaurant, serving both committed golfers and people looking for casual leisure activities. South Korea’s RD Tek developed the technology behind the Xgolf simulators and has been active in the simulator industry since 2005. X Golf America was formed as a separate virtual golf and bar restaurant company in 2010, followed by the formal franchise program in 2016. The X GOLF Franchise Corporation was established as a California corporation on February 27, 2015, and began offering franchises from that point. The original concept was identified in 2005 by “two brothers from Australia,” who partnered with a South Korean simulator manufacturer. Ryan D’Arcy joined X Golf nine years before the source date as an account manager and helped develop the franchise program in 2016. He later became President and CEO of X Golf America and led a period of substantial growth before his planned departure in late 2024. Ben Styles is the X Golf Group CEO and was the first overseas franchisor for X Golf, leading expansion into the Australasian market. Buyers should distinguish X Golf America from other businesses using the X Golf name. These include an acquired company in Dubai founded by Madeleine Curran in 2015 and an unfunded company in Yuseong District, South Korea, established in 2020 that mainly sells simulator equipment for golf training. This review focuses on the X Golf America franchise. X Golf America has been associated with Los Angeles, Carson, and Torrance, California. The principal business address for X GOLF Franchise Corporation is 24416 Main St., Ste 301, Carson, CA 90745. The United States network currently has 95 total units, all franchised, with no company owned locations. That structure gives the brand a pure franchise model within the indoor entertainment and leisure sector.

Indoor sports and recreation instruction, including virtual golf and entertainment venues, is part of a growing market for experiential leisure. The broader addressable market includes virtual reality experiences, indoor sports, and social dining. Consumer interest is moving toward leisure activities that are interactive and engaging. Health consciousness can increase participation in sports, especially when activities are more accessible and require less time than traditional golf. Demand for social connection supports venues that pair an activity with food and beverage service. Technology adds novelty and engagement to leisure experiences. Traditional golf can require a substantial time commitment, depends on weather, and may carry costs and exclusivity that limit participation. Xgolf addresses those barriers with a convenient, climate controlled venue that combines golf with a social setting. Its customer base can include avid golfers, casual players, families, and corporate groups. Franchise investors are drawn to the category because simulator rentals and food and beverage sales can create recurring revenue, while an indoor venue can operate throughout the year instead of being tied to outdoor conditions. Competition includes simulator manufacturers and independent entertainment centers. Xgolf differentiates its concept by pairing simulator technology with a full bar and restaurant rather than operating only as a simulator facility. Urbanization can reduce the space available for traditional golf courses, while consumers are generally seeking leisure options that are more flexible and convenient. Xgolf has expanded into population dense markets regardless of climate, reflecting its strategy for addressing those conditions and limiting reliance on seasonal demand.

An Xgolf franchise requires a large capital commitment. The initial franchise fee is $35,000 and is typically paid upfront when the Franchise Agreement is signed. The stated total initial investment ranges from $994,000 to $1,940,000. That range reflects differences in real estate costs, construction scope, and regional markets. Other sources report ranges of $993,500 to $1,939,500 and $990,000 to $1.9 million. A franchise database reports an initial investment range of $487,550 to $1.13 million, which may represent different formats, earlier models, or less extensive build outs than the bar restaurant concept described in the web research. The Franchise Disclosure Document lists rent for one month at $7,500 to $22,000 and a lease security deposit of $7,500 to $22,000. Leasehold improvements are estimated at $400,000 to $750,000. Golf simulators account for $400,000 to $675,000, while video replay and lessons software can cost up to $12,000. Furniture, fixtures, and other equipment are estimated at $75,000 to $130,000. Computer systems cost $1,500 to $2,500. The market introduction program costs $5,000 to $10,000. Other opening costs include three months of insurance at $4,000 to $9,000, signage at $20,000 to $40,000, initial inventory at $5,000 to $30,000, and licenses and permits at $1,500 to $40,000. Professional fees are estimated at $2,500 to $7,500, utilities at $1,000 to $3,000, office expenses at $3,000 to $10,000, dues and subscriptions at $500 to $2,500, and X Golf Sales Training at $2,500. Prospective franchisees are expected to have at least $200,000 in liquid capital to qualify for SBA funding, although another source lists a $350,000 liquid capital requirement. Estimated working capital for the opening period is $20,000 to $30,000. The investment level and liquidity requirements place the franchise in the premium part of the leisure and entertainment market and make it more suitable for well capitalized individuals or groups.

The Xgolf operating model combines virtual golf with a full service bar and restaurant. Daily responsibilities include monitoring the simulators, maintaining their performance, managing food and beverage operations, and serving customers ranging from serious golfers to casual groups. The staffing plan needs coverage for simulator operation and technical support, kitchen and bar work, and front of house service, including reservations and guest management. The source does not provide specific staffing numbers, but the size of the investment and the restaurant component indicate that a substantial labor force may be needed for daily operations. Xgolf is primarily presented as a full scale virtual golf and bar restaurant venue. The available information does not describe alternate formats such as kiosks or mobile units. The franchisor provides initial training and support intended to prepare owners to manage simulator technology, food and beverage operations, and customer service. The source does not specify the length or location of that initial training. Continuing support typically includes field consultants, proprietary platforms connected to the simulator system, video replay and lessons software, marketing programs supported by the 1.00% advertising fee, and supply chain assistance for simulator equipment and food and beverage inventory. By September 2022, the franchise program had produced 22 multi unit ownership groups. More than 50% of the Xgolf footprint came from multi unit ownership, showing that the system supports expansion by operators who add locations. The model can work for owner operators, particularly during the opening period, and for semi absentee owners who build strong management teams as they grow into multiple locations.

It declined to approximately $413,821 in 2020, reflecting the effect of the pandemic on entertainment complexes and leisure businesses. The difference illustrates how much results can vary with market conditions and operating execution. The decline in 2020 was attributed to the pandemic’s effect on entertainment venues.

Xgolf has expanded significantly since its franchise program began. In March 2021, X Golf America operated 29 locations in the United States and set a goal of exceeding 50 locations by the end of that year. By September 2022, the brand had passed the 100 location milestone when counting more than 60 open units and more than 40 additional locations in development across 32 states in the United States. Later information reported more than 130 locations across 38 United States states, with additional venues still in development. Another source from a similar period reported more than 120 open locations across the country. The 2024 Franchise Disclosure Document specifically lists 99 franchised Xgolf locations in the United States. The Midwest was identified as the largest region, with 62 locations across 31 states. The company has targeted 35 to 45 new venues each year and has focused on population dense markets regardless of climate. That approach is intended to reduce seasonal variation and reach a wider customer base. Ryan D’Arcy was scheduled to step down as President and CEO of X Golf America in late 2024 after leading a period of significant growth. Ben Styles serves as X Golf Group CEO and oversees the broader international network. The brand’s competitive advantages include simulator technology developed by South Korea’s RD Tek since 2005, the social bar restaurant format, and an international network. The global network includes 450 centers in South Korea and operations or presence in the Middle East, Japan, the United States, Russia, and the growing Australasian network led by Ben Styles. That network includes sites in Victoria, South Australia, Queensland, New South Wales, and Christchurch, New Zealand, with nine more locations scheduled within six months. The international presence gives the company experience across markets and supports brand recognition. Xgolf is also prioritizing multi unit ownership, with more than 50% of its footprint held by such groups. The combination of technology, a social entertainment format, international operations, and experienced multi unit operators supports the brand’s expansion plans.

The prospective Xgolf franchisee is an entrepreneur or group with business judgment and an interest in creating an engaging entertainment venue. Prior golf or hospitality experience is not expressly required in the available information. A buyer should have at least $200,000 in liquid capital for the initial investment and possible SBA funding, while some recommendations call for $350,000 in liquid capital to provide a stronger financial base. The source does not state a specific management background requirement, but operating a virtual golf bar restaurant requires leadership, organization, and customer service capabilities. Xgolf actively supports multi unit ownership. By September 2022, 22 multi unit ownership groups accounted for more than 50% of the brand’s footprint, indicating that the system favors owners who can manage several locations or grow toward that structure. Territories are expanding across the United States and currently include 38 United States states, with emphasis on population dense markets. The Midwest has 62 locations across 31 states and is a particularly established region for the brand. The time from signing a franchise agreement to opening is not stated in the source. Because the venue requires extensive leasehold improvements and simulator installation, a typical build out and launch could take 6 to 12 months. The franchise agreement term is 5 years. Standard renewal terms are generally available when a franchisee meets the franchisor’s requirements. Transfer and resale provisions are typically addressed in the franchise agreement and can provide a path for an owner who wants to exit or transfer the business. The geographic expansion plan and focus on multi unit operators are most relevant to candidates with the capital and management capacity for a large venue operation.

For a buyer considering a major investment in experiential leisure, Xgolf warrants detailed due diligence. The concept responds to demand for technology driven entertainment by pairing golf simulation with a social bar restaurant setting. Its reported expansion includes more than 130 locations across 38 United States states, and the company has targeted 35 to 45 new venues each year. The historical results also show the effect of outside events such as the 2020 pandemic. The initial investment of $994,000 to $1,940,000 and the $35,000 franchise fee make this a premium opportunity for well capitalized individuals or groups. Buyers should also account for the 7.00% royalty, the 1.00% national brand fund advertising fee, the working capital estimate of $20,000 to $30,000, and the stated liquid capital figures of $200,000 and $350,000 from different sources. The support system, simulator technology, international operating history, and record of multi unit ownership are relevant parts of the evaluation. PeerSense provides independent franchise research, including SBA lending history, a Loan Activity Score of 64, identified as Moderate, location maps with Google ratings, FDD financial data, and side by side comparison tools. PeerSense is a commercial capital advisory firm that introduces franchise buyers to SBA and conventional lenders and is not a lender. The complete Xgolf franchise profile on PeerSense provides access to its broader franchise intelligence data.

Loan Activity Score

64/100

SBA Default Rate

0.6%

Active Lenders

25

According to its Franchise Disclosure Document or public business records, X-Golf has 95 locations, all owned by franchisees. Public SBA loan records show 25 lenders made 166 loans to franchisees of X-Golf. PeerSense calculates X-Golf's score as 64 out of 100, using public SBA loan performance and recent lending activity. Cost figures are based on the 2025 Franchise Disclosure Document.

Franchising since 2015 · 95 locations

Investment

$487,550 to $1.1M

Franchise Fee

$35,000

Total Units

95

95 franchised

Loan Activity Score
Very high
64
SBA Lending
25
Lender Quality
9
Transparency
8
Reach
9
Momentum
13

Proprietary PeerSense metric

Moderate
Capital Sources
25SBA lenders

Distinct lenders in public SBA records for X-Golf

166

Total SBA loans

$579K

Average loan size

Source: public SBA 7(a) and 504 loan records through December 31, 2025

Referral fee at closing

SBA Lending Activity for X-Golf

Loan Activity Score Breakdown

Major Brand (100+ loans)

Very High Confidence
64out of 100
Moderate
Market Momentum13/35

Are lenders increasingly or decreasingly funding this brand? Growing trends score highest.

Loan Safety25/25

Blended default rate (recent + all time) compared to NAICS sector peers.

Lender Confidence9/15

Quality lenders actively backing this brand, with penalty for lender pullback.

Transparency8/15

FDD availability, Item 19 disclosure, and overall data completeness.

Footprint9/10

Geographic spread of SBA funded locations across states.

SBA Lending Performance

SBA Default Rate

0.6%

vs 10.8% peer avg

SBA Loans

166

Total Volume

$96.1M

Active Lenders

25

4 selective

States

27

vs. SBA Sector Average

+10.2%lower default rate

SBA loan default rate vs. all franchises in the same NAICS sector, not limited to direct competitors

Key Highlights

Low SBA default rate (0.6%)
Item 19 financial data disclosed

Data Insights

Key performance metrics for X-Golf based on SBA lending data

SBA Default Rate

0.6%

10.2% below peer avg

SBA Loan Volume

166 loans

Across 25 lenders

Lender Diversity

25 lenders

Avg 6.6 loans per lender

Investment Tier

Premium investment

$487,550 to $1,133,400 total

X-Golf: Deep SBA Data

Brand specific metrics derived directly from SBA 7(a) approval records: peak lending year, leading state, average loan size, and lender concentration. PeerSense computes these per brand so capital advisors and prospective franchisees can benchmark this opportunity against the rest of the franchise universe.

Peak SBA Year

2023

43 approvals. The best year on record for X-Golf.

Top SBA State

Michigan

31 SBA financed X-Golf locations, the densest operator footprint.

Average Loan Size

$579K

Median $539K. Use as a sizing anchor when modeling your own X-Golf unit.

Lender Concentration

80.7%

Concentrated

Share of X-Golf approvals captured by the top 3 SBA lenders.

X-Golf's SBA lending pipeline peaked in 2023 (43 approvals). The last five fiscal years account for 79% of cumulative volume ($83M approved). Operator density is highest in Michigan with 31 SBA financed locations. Average funded ticket sits at $579K, with the median at $539K. Lender mix is concentrated: the top three SBA lenders account for 80.7% of approvals. Credit decisions concentrate with a small group of incumbents.

Payment Estimator

Loan Amount$390K
Interest Rate9.5%
Term (Years)10 yr

Estimated Monthly Payment

$5,047

Principal & Interest only

Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.

Locations

X-Golf, unit breakdown

Total Units
N/A
Franchisee Owned
n/a
System Owned
n/a
Closed
n/a

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6 FDDs Available for X-Golf

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X-Golf

Page Review

Reviewed by Edward L. Freeman, Founder and Managing Director, PeerSense

  • PeerSense is a capital advisory firm that places commercial financing with direct capital sources; it does not lend, fund, or approve loans, and the capital source sets final terms.
  • Edward L. Freeman founded PeerSense in January 2020.
  • He is a Registered Franchise Consultant with Business Alliance, Inc., a credential issued in March 2022, and worked as a franchise consultant there from March 2022 to May 2023.
  • His recorded experience includes a $22 million SBA construction loan, with about $16 million funded on the deal.
  • In the 12 months through September 30, 2026, PeerSense tracked 912 publicly announced financings with a disclosed size of $361.32 billion. PeerSense Capital Data Report · Methodology page

Last reviewed LinkedIn profileAbout Edward Freeman