How many Engel & Volkers outlets in Florida were terminated 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's 2025 Franchise Disclosure Document, there were 3 terminations of Engel & Volkers franchises in Florida during 2024. Additionally, one outlet in Florida ceased operations for other reasons during that same year. At the start of 2024, there were 43 Engel & Volkers outlets, 8 new outlets opened, 3 were terminated, and 1 ceased operations for other reasons, resulting in 47 outlets at the end of the year.
These figures provide insight into the stability and turnover of Engel & Volkers franchises within Florida. A prospective franchisee should consider these numbers in the context of the overall number of franchises in operation and the reasons for terminations. Understanding the causes behind these terminations and closures can offer valuable insights into potential challenges and risks associated with operating an Engel & Volkers franchise in Florida.
It's also important to note that these numbers reflect the status as of December 31, 2024, as stated in the notes of the FDD. Reviewing these figures in comparison to previous years, 2022 and 2023, can provide a more comprehensive understanding of the trends in franchise terminations and closures within the Engel & Volkers system. This historical perspective can help potential franchisees assess the long-term viability and stability of the franchise opportunity in Florida.