Igor Vainshtien


This article is a part of our encyclopedia, and is editable by you. Edit ➜


Igor Vainshtien is an American entrepreneur. Igor started 24/7 Golf in 2016 and is based in Melbourne, Australia.[1]

Igor Vainshtien, founder of 24/7 GolfIgor Vainshtien, founder of 24/7 Golf

Company

24/7 Golf

Location

Melbourne, Australia

Career

Early Career

No early career info added yet...

24/7 Golf

Igor started 24/7 Golf in 2016. They detail the beginnings of their company in their Starter Story interview: [1]

Q: How did you get started on 24/7 Golf?

Golf is something I only got into 8 or so years ago and have been obsessed with it since! Around that time I invested and operated an indoor virtual golf center in Melbourne, and after 5 years developed a concept similar to 24 hour gyms, but for golf - called 24/7 Golf. Members could sign up and play or practice virtual golf with no staff in an unmanned golf studio.

The business grew a little, and I kept selling golf simulators on the side.

Having partnered with SkyTrak Golf, the sales really took off. I always knew golf simulators would be a hit if the price was right. Originally I was selling them for $30,000 plus, and mostly to commercial ventures (like virtual golf bars) - but they actually didn’t do well at all and most closed down. Retail rents in Australian capital cities are crazy. In our Melbourne location, we were paying $360,000 per annum!

Funnily enough the most profitable part of the business was selling simulators - and in 5 years I sold over 1 million worth of simulators to other indoor centres. Unfortunately most - in fact all of them - went out of business since. The business model just didn’t work.

As the price of simulators started to come down from $50k to $25k then to $5k (my average sale now) it really became apparent that affordability will cannibalise the simulator business anyway so I decided to go into it - all in.

Source [1]

References