TruGolf与Franchise Well合作宣布全球特许经营计划以加速增长

SALT LAKE CITY, March 27, 2024 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (Nasdaq: TRUG) ("TruGolf”), among the leading sellers and distributors of golf simulator software and hardware, today announced a strategic agreement with Franchise Well, a renowned franchising consultancy firm, to accelerate its global expansion through a regional developer franchise model. This relationship marks a pivotal moment for TruGolf as it harnesses the power of franchising to amplify its global presence and cater to the burgeoning demand for immersive off-course golf experiences.

This collaboration comes at a time when the franchising market is experiencing a significant shift towards experience-based and recreational concepts. According to recently released data from The National Golf Foundation, 45 million Americans aged 6 and above played golf in 2023. This record-setting total includes 32.9 million people who played off-course golf, with 18.4 million of them who participated exclusively in off-course golf activities at places such as driving ranges, indoor golf simulators, or golf entertainment venues. Only 12.1 million played exclusively on-course, furthering the trend of off-course golf easily overtaking on-course participation.

“Our mantra is “Golf Easy” and we view franchising as a critical step towards achieving that vision by making golf experiences significantly more accessible in the U.S. and worldwide,” stated Chris Jones, Chief Executive Officer of TruGolf. “TruGolf already boasts a presence in over 30 countries. Franchising serves as a capital-efficient model to drive our growth and fuel global expansion. This relationship with Franchise Well accelerates our growth and allows us to deploy our innovative technology to even more enthusiasts around the world.”

The collaboration with Franchise Well will propel TruGolf’s growth strategy forward through the regional developer franchise model, targeting seasoned franchise owners to spearhead expansion. Unlike traditional franchising models aimed at individual investors, TruGolf’s approach focuses on empowering developers to build and scale territories, ensuring rapid strategic market penetration and sustainable growth.

“We are thrilled to partner with TruGolf,” commented Ben Litalien, Founder and Principal of Franchise Well. “In today's market, the most promising franchise opportunities are those that are low on labor requirements and high on technology. TruGolf perfectly aligns with this trend, offering a unique and immersive experience with a minimal staffing footprint.”

Learn more about TruGolf at www.trugolf.com or follow us on LinkedIn , X , Facebook , Instagram or YouTube .

About TruGolf, Inc.
Since 1983, TruGolf has been passionate about driving the golf industry with innovative indoor golf solutions. TruGolf builds products that capture the spirit of golf. TruGolf’s mission is to help grow the game by attempting to make it more Available, Approachable, and Affordable through technology - because TruGolf believes Golf is for Everyone.

TruGolf's team has built award-winning video games (“Links”), innovative hardware solutions, and an all-new e-sports platform to connect golfers around the world with E6 CONNECT. Since TruGolf’s beginning, TruGolf has continued to attempt to define and redefine what is possible with golf technology.

About Franchise Well
Franchise Well is a boutique consulting practice in strategic franchise development working with select clients with concepts that can benefit from effective use of using the franchise model. Led by Dr Ben Litalien, a certified franchise executive who also teaches franchising at Georgetown University in Washington, D.C. and the Liniger Center on Franchising at the University of Denver. For more information on Franchise Well visit their website at www.franchisewell.com or contact laura@franchisewell.com .

Forward-Looking Statements
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