How many Engel & Volkers outlets opened in California during 2023?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| | Carolina | | | | | | | | | | | 2023 | 4 | 0 | 0 | 0 | 0 | 0 | 4 | | | 2024 | 4 | 0 | 0 | 0 | 0 | 1 | 3 | (1) All numbers are set forth as of December 31 of each year.
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Table No. 4 Our Franchised Residential Real Estate Brokerages Status of Company-Owned Outlets for Years 2022 to 2024
| State | Year | Outlets at Start of Year | Outlets Opened | Outlets Reacquired From Franchisee | Outlets Closed | Outlets Sold to Franchisees | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|
| All States | 2022 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | 0 | 0 | 0 |
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 11 outlets opened in California during 2023. The table provided in Item 20 of the FDD outlines the number of outlets opened, reacquired, closed, and sold to franchisees, as well as the number of outlets at the start and end of the year for each state.
For a prospective Engel & Volkers franchisee, this information indicates the growth and changes within the franchise system in California. It's important to note that while 11 new outlets opened, one ceased operations for other reasons, resulting in a net increase of 10 outlets in California during 2023. This data helps potential franchisees understand the dynamics of the Engel & Volkers market in California, including the rate of new openings and closures.
Analyzing these trends over multiple years, as presented in the table, can provide a more comprehensive understanding of the stability and growth potential of Engel & Volkers in California. A prospective franchisee should also consider the reasons behind outlet closures to assess any potential risks or challenges in the region.