How many Engel & Volkers franchise agreements have been signed in California, but the outlet has not yet opened?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 20: OUTLETS AND FRANCHISEE INFORMATION]
| State | Franchise Agreements Signed but Outlet Not Opened | Projected New Franchised Outlets in the Next Fiscal Year | Projected New Company – Owned Outlets in the Next Fiscal Year |
|---|---|---|---|
| Arizona | 1 | 0 | 0 |
| California | 2 | 2 | 0 |
| Colorado | 1 | 2 | 0 |
| Kentucky | 0 | 1 | 0 |
| North Carolina | 0 | 1 | 0 |
| New Jersey | 0 | 1 | 0 |
| Pennsylvania | 0 | 1 | 0 |
| Washington | 1 | 1 | 0 |
| Virginia | 0 | 2 | 0 |
| Total | 5 | 11 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 71–88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, as of December 31, 2024, there were 2 franchise agreements signed in California for which the outlet had not yet opened. This means that Engel & Volkers has franchisees in California who have signed agreements but have not yet begun operations. This could be due to various factors such as securing real estate, completing build-out, or finishing training.
For a prospective franchisee, this information indicates the level of recent franchise activity in California. It is useful to understand how many other franchisees are in the pipeline and may soon be competing in the same market. It also provides an opportunity to connect with these franchisees during training or pre-opening to share insights and experiences.
Additionally, the FDD indicates that Engel & Volkers projects opening 2 new franchised outlets in California in the next fiscal year. This suggests that Engel & Volkers is actively looking to expand its presence in California, which could be a positive sign for potential franchisees in that state. However, it also means increased competition.
It is important for potential franchisees to investigate the reasons why these outlets have not yet opened. Understanding the challenges faced by these franchisees can help new franchisees prepare for potential obstacles and better plan their launch strategy. Talking to existing franchisees in California can provide valuable insights into the local market conditions and the support provided by Engel & Volkers during the opening process.