As of what date are the numbers set forth in Table No. 1 for Engel & Volkers?

According to Engel & Volkers' 2025 Franchise Disclosure Document, the numbers set forth in Table No. 1, "Residential Real Estate Brokerages Systemwide Outlet Summary for Years 2022 to 2024," are as of December 31st of each year. This means that the data provided for the years 2022, 2023, and 2024 in Table No. 1 reflects the status of the franchise system as it stood on the last day of each of those years.

For a prospective franchisee, this is important because it provides a snapshot of the franchise's growth, stability, and overall performance at the end of each year. Reviewing this table, a potential franchisee can see the trends in outlet openings, closures, and transfers, which can inform their decision about investing in the franchise. Understanding that the data is a year-end summary is crucial for accurate interpretation.

It is common practice for franchisors to provide annual summaries in their FDDs, as this allows potential franchisees to assess the brand's performance over time. The December 31st cutoff ensures a consistent and standardized reporting period, making it easier to compare year-over-year data. Franchisees should pay close attention to these trends to evaluate the potential risks and rewards of investing in an Engel & Volkers franchise.