What was the amount of admission fees recognized by Engel & Volkers during the year 2023?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
e Company's ability to collect on its contracts. The Company disaggregates revenues from contracts with customers by the timing of revenue recognition by type of revenue, as it believes this best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
Revenues by timing of recognition were as follows during the years ended December 31, 2024, 2023 and 2022:
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Poin |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the admission fees recognized during the year 2023 were $440,642. This figure reflects the amount of initial franchise fees that Engel & Volkers recognized as revenue during that year. These fees are typically associated with the initial granting of franchise rights to new franchisees.
For a prospective Engel & Volkers franchisee, this number provides insight into the revenue streams of the franchisor. It shows how much Engel & Volkers is recognizing from the initial fees paid by franchisees. This can be an indicator of the company's growth and the rate at which new franchises are being established.
It's important to note that this is the amount recognized during the year, which may differ from the actual cash received. The timing of revenue recognition depends on accounting standards and the fulfillment of obligations related to the initial fees. This figure is part of the overall financial health assessment that a potential franchisee should consider when evaluating the franchise opportunity.