Money Golf - A unique hole-in-one golfing challenge that combines skill and excitement
Founded by an unknown entrepreneur, Money Golf operates a kiosk near Lake Topo in New Zealand where participants pay to hit a floating golf tee from 111 yards away, attempting to make a hole-in-one. This game leverages the thrill of competition and the allure of a substantial prize—$10,000 for a successful shot—to attract golfers and casual participants alike.
Why It Works
Money Golf capitalizes on the thrill of games of skill in regions where they are legal. The low initial investment (between $5,000 to $50,000) compared to traditional golf venues (like Topgolf) makes it accessible. The floating tee adds an exciting twist, and the kiosk's location off a busy highway ensures high visibility and foot traffic.
Revenue & Traction
The business reportedly generates approximately $650,000 annually, with around $240,000 paid out in prize money. They average a hole-in-one every two weeks, contributing to consistent customer interest and engagement.
Founding Story
The founder recognized the potential for gamifying skill-based competitions in a fun and engaging way. By combining the elements of chance with skill, they created a unique experience that appeals to both avid golfers and casual players, capitalizing on the growing trend of experiential entertainment.
Business Playbook
1. Identify a high-traffic location: Scout areas near busy highways or popular lakes where foot traffic is consistent. Look for spots that offer a view of the game and have the potential for easy access. 2. Design your game: Create a game that combines skill and chance, like the hole-in-one challenge. Ensure the rules are simple and engaging, and think about unique twists (like a floating tee) to make it stand out. 3. Build a simple kiosk: Invest in a modest kiosk setup, which can include an iPad for payments and scorekeeping. Keep costs low by using affordable materials and leasing land instead of purchasing it. 4. Market aggressively: Use social media and local billboards to attract attention. Highlight the prize money and the excitement of the game to draw in participants. Consider creating viral content that showcases the thrill of making a hole-in-one. 5. Scale the concept: Once established, explore franchising opportunities or replicate the model in other locations where games of skill are legal. Partner with local businesses or sponsors for additional funding and visibility.
Additional Information
The business model is scalable and could be adapted to various other skill-based games, such as basketball shooting challenges or carnival-style games. The operational costs are low, and the focus should be on maintaining a fun, engaging experience. Consider using online platforms to manage bookings and payments for a more streamlined operation.
Source
Podcast: Koerner Office
Episode: How to Monetize Any Game of Skill ft. Connor Ep. #93
Creation Date: March 4, 2025
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