What additional requirements, besides the Renewal Fee, must an Engel & Volkers franchisee meet for renewal?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Renewal Fee (See Note 1) | 50% of Initial Franchise Fee | Before the effective date of the Renewal Term | There are other requirements for renewal in addition to paying the renewal fee. |
Source: Item 6 — OTHER FEES (FDD pages 22–30)
What This Means (2025 FDD)
According to Engel & Volkers's 2025 Franchise Disclosure Document, in addition to paying the renewal fee, there are other requirements for renewal. The renewal fee is 50% of the initial franchise fee and must be paid before the effective date of the renewal term.
While the FDD mentions that there are additional requirements beyond the renewal fee, it does not specify what those requirements are. A prospective franchisee should clarify these requirements with Engel & Volkers prior to signing the franchise agreement.
Understanding all renewal obligations is crucial for franchisees to plan for the future and ensure they can continue operating their Engel & Volkers franchise beyond the initial term. This information would allow a franchisee to make an informed decision about the long-term viability of the franchise.