How many Engel & Volkers outlets in California ceased operations for other reasons in 2024?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Year | Number of Transfers | |||
|---|---|---|---|---|---|
| Colorado | 2022 | 5 | |||
| 2023 | 8 | ||||
| 2024 | 0 | ||||
| Georgia | 2022 | 0 | |||
| 2023 | 1 | ||||
| 2024 | 0 | ||||
| Idaho | 2022 | 2 | |||
| 2023 | 2 | ||||
| 2024 | 0 | ||||
| Nevada | 2022 | 0 | |||
| 2023 | 3 | ||||
| 2024 | 0 | ||||
| Utah | 2022 | 0 | |||
| 2023 | 7 | ||||
| 2024 | 0 | ||||
| Washington | 2022 | 1 | |||
| 2023 | 2 | ||||
| 2024 | 1 | ||||
| Wyoming | 2022 | 0 | |||
| 2023 | 1 | ||||
| 2024 | 0 | ||||
| TOTAL | 2022 | 9 | |||
| 2023 | 49 | ||||
| 2024 | 1 | ||||
| Column 1 State | Colum n 2 Year | Colum n 3 Outlets at Start of Year | Colum n 4 Outlets Opene d | Column 5 Termination s | Column 6 Non- Renew |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 71–88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, there were 4 outlets in California that ceased operations for other reasons during 2024. This information is part of a larger table that details outlet statistics across various states and years. The table provides a year-by-year breakdown of several factors influencing the number of Engel & Volkers locations, including outlets at the start of the year, new openings, terminations, non-renewals, re acquisitions by the franchisor, and those that ceased operations for other reasons.
For a prospective Engel & Volkers franchisee, this data offers insight into the stability and turnover of franchises within the system. Seeing that 4 locations in California closed for 'other reasons' in 2024, while 1 new location opened and 1 was terminated, resulting in a net decrease of 4 units, could prompt further investigation. A franchisee might want to understand the specific 'other reasons' for closures, as this could encompass a range of issues from financial underperformance to local market challenges.
It's important to note that 'ceased operations for other reasons' is a broad category. Potential franchisees should ask Engel & Volkers for more detailed explanations about these closures to assess whether the reasons are systemic or isolated incidents. Understanding the causes behind these closures can help a new franchisee better prepare for potential challenges and implement strategies to mitigate similar risks in their own business.