Steve,
I've been to three Topgolf facilities - usually with a group of burnt crust, swing-from-the-heels, lunatic farmers and produce hustlers. You'd better hold onto your wallet good & tight, because that fat wad of quatloos will get skinnier than Bethenny Frankel in short order.
They are experts at the nickel & dime upsell - except it will be a stack of Franklins by the time those halter-top dollies are done shakin' their sugar at all the horny old goats.
As far as initiation fees, what looks to be insanely expensive, sticker shock madness will look bargain basement in five years. Inflation is coming with a vengeance and unless you've got a spot on a northbound elevator, now is the cheapest deal you're likely to get in terms of relative capital expenditures.
Until it is not.
It never fails to astonish me how membership at clubs, founded as an affordable, cooperative, common-sense alternative end up jacking up their initiation dues as a barrier of entry - who then spend the money like drunken sailors with rudderless tinkering to their golf course.
The only possible relief will be another outright, 2008 meltdown. The problem is that clubs leveraged to their snouts end up in the dreaded "death spiral" and often end up being forced to waive initiation fees and let in cargo-shorts riff raff - in exchange for a warm body paying their monthly dues.
Before you cough up that check for a shiny new club, best to take a close look behind the curtain at the economic stability and sustainability when the shit inevitably hits the fan. At that point, once the list to sell a membership gets longer than the line at the front entrance turnstiles, you're stuck like a pig.