What is the estimated amortization expense for Engel & Volkers 'Thereafter'?

According to Engel & Volkers' 2025 Franchise Disclosure Document, the amortization expense on intangible assets was $608,883 for each of the years ended December 31, 2024, 2023 and 2022. The document also summarizes the estimated amortization expense for the next five years and thereafter as of December 31, 2024. However, the specific amount for 'Thereafter' is not provided in this excerpt.

While the FDD provides the amortization expense for the past three years and indicates that estimated expenses for the next five years are available, it does not disclose the specific amount of amortization expense estimated for the period described as 'Thereafter'. This makes it difficult to project long-term financial performance based on the information provided.

A prospective Engel & Volkers franchisee should inquire with the franchisor about the estimated amortization expense for the period after the next five years. Understanding this long-term expense is crucial for accurate financial forecasting and assessing the overall profitability of the franchise over its lifespan. Requesting detailed information on the assumptions and calculations used to determine these estimates would also be beneficial.