Swing-It ( 挥一下 ™) is an exciting retail dining and entertainment company that is positioned to become a leading owner and operator of high-volume “eatertainment”* facilities throughout China’s major metropolitan centers.  Based on our team members’ experience in China and track record in helping to grow TopGolf (www.topgolf.com) to become one of the most successful “eatertainment” businesses in the United States, we are seeking to raise between $10 million and $15 million (“Offering”) to be first-to-market in China’s skyrocketing retail and entertainment markets.

*“Eatertainment” is an experience destination which combines eating and entertainment, specifically the sector that combines a restaurant and an entertainment theme, such as sports, music, or film.  Examples are Dave & Busters (www.daveandbusters.com), Punch Bowl Social (www.punchbowlsocial.com), Lucky Strike (www.bowlluckystrike.com), and TopGolf (www.topgolf.com).

SWING-IT DITCHES TRADITION FOR THE “BRICK AND MORTAR 2.0 REVOLUTION”

Swing-It is ditching the traditional and outdated retail experience to engage customers in a technology enabled entertainment environment.  By combining a golf driving range with augmented reality gaming, Karaoke television (“KTV”), and upscale hitting bays, bars, restaurants, and roof-top lounges, Swing-It revolutionizes retail dining and entertainment by providing a multi-channel integrated “eatertainment” facility for customers to EAT DRINK COMPETE PARTY & PLAY™ with coworkers, family, and friends.

Swing-It Builds Upon The Trailblazing Efforts Of TopGolf, Which Is Wildly Successful In The United States

The concept behind Swing-It was created by TopGolf, which is taking the United States and the retail “eatertainment” market by storm.  With just 22 facilities, in 2015 TopGolf had 8 million customers, $300 million in revenue, and a value close to $2 billion.  TopGolf rapidly accelerated its growth in 2016 and ended the year with 31 locations serving 10.5 million customers, and by the time TopGolf finished 2017 it had 40 locations with many more in the pipeline for 2018.

With our team of former TopGolf executives, Swing-It is starting with TopGolf’s proven business model, improving it with state-of-the-art augmented reality, RADAR tracking, and arcade-style gaming technology, adapting it to Chinese tastes, and taking it to China by building the first-to-market facility in Beijing or Shanghai 18 to 24 months after securing initial funding.

Swing-It’s Vision

Our goal is to provide China’s growing middle class dining and entertainment consumers a more dynamic option on which to spend their increasing disposable incomes.  Similar to TopGolf, we believe our Swing-It entertainment facilities will naturally lead to other sports and entertainment opportunities, including brand collaborations, hospitality simulator suites, charity tournaments, celebrity reality television programing, and music festivals.

SWING-IT CONSISTS OF VETERANS OF TOPGOLF AND CHINA

Swing-It is part of a joint venture with Swing Golf, a company founded by three former TopGolf “C” Suite executives.  Swing-It’s joint venture team developed TopGolf's gaming, point of sale, and process intellectual property, and they built over 20 TopGolf facilities that grew TopGolf’s revenue by hundreds of millions of dollars.

The joint venture pairs Swing Golf’s operational, development, and intellectual property know-how and strategy gleaned from time at TopGolf with Swing-It’s team of internationally focused professionals with experience and feet-on-the-ground in China in order to streamline and de-risk Swing-It’s development and operations in China.  The joint venture is aimed at helping Swing-It develop larger facilities in China and internationally, while also providing Swing-It access to additional business lines from Swing Golf’s development of smaller venues in the United States in markets overlooked or ignored by TopGolf.

Swing-It’s Joint Venture Creates A Company Needing Expansion Capital For China

The joint venture in effect creates a company with an identifiable track record of growth and success from TopGolf that needs expansion capital to be first-to-market in China and beyond.

SWING-IT TARGETS MIDDLE CLASS MILLENNIAL NON-GOLFERS, NOT BABY BOOMERS

Swing-It will target the most dynamic subset of Chinese consumers, mainly middle class and higher income Millennials who have disposable income to spend $35 on entertainment out on the town with colleagues, family, and friends.  At Swing-It, customers will have the choice to EAT or DRINK in our upscale full service hitting bays, bar, restaurant, and roof-top lounges, or . . . COMPETE with friends by hitting balls on a high-tech full size driving range, or . . . PLAY on augmented reality and arcade-style, mobile app-enabled games and KTV both on-site and off, or . . . PARTY by choosing to DO IT ALL SEAMLESSLY IN ONE FACILITY!

Like TopGolf’s high-energy retail “eatertainment” experience, Swing-It expects to attract a large and dynamic customer base where nearly 70% are between the ages of 18 and 44 and nearly 70% are under 35.  Also like TopGolf, Swing-It expects to have broad appeal where 60% to 75% of customers are not golfers, the male to female ratio skews 68% male to 32% female, and over 60% of the revenue comes from food and beverage sales unrelated to golf.

While Swing-It will seek to replicate TopGolf’s growth and appeal in China, Swing-It will not try to change Chinese customer behaviors.  Rather, Swing-It will provide an exciting new “eatertainment” alternative to KTV and movie theaters to meet China’s rapidly growing consumer entertainment demand.

WHY CHINA?

Large Population And Growing Middle Class Have Incredible Growth And Revenue Potential

With a population exceeding 1.3 billion, China has the world’s largest population and is nearly 4 times larger than the United States.  Additionally, by 2020, China’s middle-class consumers will grow to almost 400 million, which is larger than the entire population of the United States.  China’s spending power is also increasing.  From 2006 to 2016, China’s aggregate consumer spending grew from $2.4 trillion to $7.6 trillion, and through 2030, China will contribute more than any other country to the growth in global consumer spending.

With China’s population and middle-class consumers dwarfing their United States counterparts—even after factoring the current income differences between the two countries—we believe Swing-It has a tremendous amount of room to expand throughout China.  To put this into perspective, TopGolf believes there is room in the United States for about 100 thriving TopGolf facilities; and China is so much bigger by in terms of middle-class growth and spending power.

An Untapped Market

China is an untapped market waiting for Swing-It.  There are no “eatertainment” facilities similar to Swing-It in China; and TopGolf has no current operations in, nor any announced expansion into, China.  By contrast, TopGolf has at least three direct competitors in the United States, including Drive Shack (driveshack.com), 4ORE! Golf (4oregolf.com), and FlyingTee (flyingteegolf.com).  As such, China provides an opportunity for Swing-It to make a foothold in this retail “eatertainment” segment without initial heavy competition.  In fact, China provides Swing-It with the the same type of wide open market that TopGolf faced as it embarked on its rapid growth strategy.

Tremendous Amount Of Chinese Capital Now Available For Growth And Investor Exits

Between 2006 and 2013, Chinese venture capital investments maintained a stable but stagnant position at approximately 9% of the global market.  But by the end of 2015, Chinese venture capital investments rapidly rose to approximately 18% of the global market, and by 2016 $31 billion was invested by Chinese venture capital firms.  After our first Swing-It facility China is financed in large part through this Offering, Swing-It intends to evaluate future financings from United States and Chinese venture capital and private equity firms, Chinese Banks, strategic investors, and the IPO market.  Therefore, we will aim to establish operations that will attract new capital for growth and to provide our investors an attractive exit opportunity if they shall so desire.