How many Engel & Volkers outlets were non-renewed in Florida during 2023?
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, there was one Engel & Volkers location in Florida that was not renewed in 2023. The table provided in Item 20 details outlet information, including non-renewals, across various states and years. For Florida in 2023, the 'Non-Renewals' column indicates a value of 1.
This information is relevant for prospective franchisees as it provides insight into the stability and success rate of existing Engel & Volkers franchises. A non-renewal could suggest various factors, such as the franchisee's decision not to continue, failure to meet performance standards, or changes in the market that made the location less viable. It is important to note that one non-renewal does not necessarily indicate a widespread problem, but it is a factor to consider.
Understanding the reasons behind non-renewals can help a potential franchisee assess the risks and opportunities associated with investing in an Engel & Volkers franchise in a specific area. Further investigation into the circumstances surrounding the non-renewal, such as speaking with current and former franchisees, could provide a more comprehensive understanding.