How many Engel & Volkers outlets in Florida ceased operations for other reasons in 2022?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Column 1 State | Column 2 Year | Column 3 Outlets at Start of Year | Column 4 Outlets Opened | Column 5 Terminations | Column 6 Non-Renewals | Column 7 Reacquired by Franchisor | Column 8 Ceased Operations- Other Reasons | Column 9 Outlets at End of the Year |
|---|---|---|---|---|---|---|---|---|
| Florida | 2022 | 37 | 7 | 3 | 0 | 0 | 1 | 40 |
| 2023 | 40 | 4 | 0 | 1 | 0 | 0 | 43 | |
| 2024 | 43 | 8 | 3 | 0 | 0 | 1 | 47 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 71–88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, in 2022, one Engel & Volkers outlet in Florida ceased operations for reasons other than terminations, non-renewals, or reacquisition by the franchisor. This is out of a starting total of 37 outlets at the beginning of the year, with 7 outlets opening, 3 terminations, and ending the year with 40 outlets.
For a prospective franchisee, this data point provides insight into the stability and potential challenges within the Florida market. Understanding the reasons behind these closures, if possible, could be valuable in assessing the risks and opportunities associated with operating an Engel & Volkers franchise in Florida.
It's important to note that 'ceased operations for other reasons' can encompass a variety of factors, such as financial difficulties, market changes, or strategic decisions by the franchisee. Further investigation into the specific circumstances surrounding these closures would offer a more comprehensive understanding of the market dynamics. Reviewing this data in conjunction with other factors, such as market trends and local economic conditions, is crucial for making an informed investment decision.