What is the estimated amount of deferred admission fees that Engel & Volkers expects to recognize in 2029?

Based on the 2025 Engel & Volkers Franchise Disclosure Document, the estimated amount of deferred admission fees expected to be recognized in 2029 is not explicitly stated. While Item 21 includes a section on "Estimated deferred admission fees expected to be recognized in the next five years and thereafter", the specific amounts for each year are not detailed in the provided excerpts. This information would be valuable for a prospective franchisee to understand the revenue recognition timeline for admission fees.

Item 21 does provide some context regarding deferred admission fees. For example, it mentions significant changes in deferred admission fees and up-front fees from direct and master franchisees for the years ended December 31, 2024 and 2023. Additionally, the document notes that the timing of revenue recognition of admission fees and up-front fees from direct and master franchisees results in "Contract liabilities" in the accompanying consolidated balance sheets.

To gain a clearer understanding of the expected deferred admission fee recognition, a potential Engel & Volkers franchisee should ask the franchisor for a detailed breakdown of the estimated deferred admission fees expected to be recognized in each of the next five years, including the specific amount projected for 2029. This information would help the franchisee better forecast their potential revenue stream and understand the financial dynamics of the franchise agreement.