How many Engel & Volkers outlets in Florida ceased operations for other reasons in 2024?
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, one Engel & Volkers location in Florida ceased operations for reasons other than terminations, non-renewals, or reacquisition by the franchisor during 2024. At the start of 2024, there were 43 Engel & Volkers locations. During 2024, 8 new locations opened, 3 were terminated and 1 ceased operations for other reasons. At the end of 2024, there were 47 Engel & Volkers locations in Florida.
This information is crucial for potential franchisees as it provides insight into the stability and performance of existing Engel & Volkers franchises. Closures for 'other reasons' can encompass a variety of factors, such as poor performance, failure to meet brand standards, or disputes between the franchisee and franchisor that don't necessarily result in a formal termination.
While one closure in Florida for 'other reasons' may not seem significant on its own, prospective franchisees should investigate further to understand the specific circumstances. Understanding the reasons behind such closures can help a franchisee better assess the risks and opportunities associated with investing in an Engel & Volkers franchise in Florida. It would be prudent to speak with current and former franchisees in Florida to gain additional context and perspective on this data point.