How many Corcoran outlets closed in Virginia during 2024?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
--|---|---|---|---| | Florida | 2022 | 5 | 2 | 0 | 0 | 0 | 7 | | | 2023 | 7 | 0 | 0 | 0 | 0 | 7 | | | 2024 | 7 | 0 | 0 | 0 | 0 | 7 | | State | Year | Outlets at Start of the Year | Outlets Opened | Outlets Reacquired from Franchisee | Outlets Closed | Outlets Sold to Franchisee | Outlets at End of the Year | |---|---|---|---|---|---|---|---| | New York |
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, one outlet in Virginia closed during 2024. The table provided in Item 23 details the changes in outlet numbers across various states over the past three years. This includes information on outlets at the start of the year, outlets opened, reacquired, closed, and sold, as well as the number of outlets at the end of the year.
Specifically, for Virginia in 2024, the table shows that there were six outlets at the start of the year, zero outlets opened, zero outlets reacquired from a franchisee, one outlet closed, zero outlets sold to a franchisee, and five outlets at the end of the year. This indicates a net decrease of one Corcoran outlet in Virginia during that year.
This type of information is crucial for potential franchisees as it provides insight into the stability and performance of the franchise system in specific geographic areas. A high number of closures could indicate challenges within the market or issues with the franchise model, while stable or growing numbers suggest a healthier business environment. Reviewing these trends helps prospective franchisees assess the risks and opportunities associated with investing in a Corcoran franchise in a particular state.