Indoor entertainment chain Five Iron Golf has unveiled plans to invest £20 million in launching the brand across the UK in a move set to create hundreds of jobs.
Five Iron – which launched in the US in 2017 – will open its first British site in Broadgate, London, this week after growing internationally to more than 40 locations across 16 American states and five countries.
Headed in the UK by chief executive Eric Parker, Five Iron hopes to launch another two within the next 18 months and grow to at least 10 sites across Britain.
He said the initial plans will see the group hire up to around 300 people.
Mr Parker said he wants the chain to appeal to both keen golfers and novice players, with aims to be inclusive and different to the “serious country club” scene.
He told the Press Association: “We’re trying to get everyone across the board into our stores.
“You can be a seasoned golfer and you can come and have lessons, but you could be someone who’s never picked up a golf club.”
He added: “London has been ready for a more modern, inclusive approach to the game, one that welcomes everyone, from serious players to after-work social groups.”
Mr Parker, a former precious metals trader in the UK and on Wall Street, has been involved with the US business for some years, but decided to buy the franchise for the UK business to bring the urban golf experience to Britain – and launch his “career 2.0”.
“It’s a great company and the right time for me,” he said.
He has so far brought on board a small number of investors, with New York-based investment bank Third Seven Capital acting as the main investment vehicle helping fund the UK expansion.
Mr Parker acknowledged the difficulty for small businesses in the UK given wider political uncertainty, rising costs and pressures on consumer spending.
He said: “The socialising side of the economy is one of the only – or the only – one that’s growing in terms of food and drink spend.
“We’re seeing consumers want to get much more value out of what they do after work.”
He added that golf is still a growth sport, adding the brand taps into a demand for city centre sites for golfers to practice after work, without having to travel to courses in the country.
“We’re a bit insulated from the vagaries of the economy in that sense,” he said.
Five Iron also offers competitive leagues where thousands of players can compete in tournaments and global challenges to win prizes.
Jared Solomon, co-founder and chief executive of the wider Five Iron Golf group, said: “We’ve built something that goes far beyond golf, it’s about creativity, community and connection.”