How many Engel & Volkers outlets did not renew 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's 2025 Franchise Disclosure Document, there was one Engel & Volkers outlet in Florida that did not renew its franchise agreement in 2023. The table provided in Item 20 of the FDD outlines the changes in the number of outlets for each state over the past three years. For Florida, the data shows that in 2023, there was one non-renewal. This means that one existing franchise location chose not to extend its franchise agreement with Engel & Volkers at the end of its term.
For a prospective franchisee, this information is crucial for understanding the stability and satisfaction of existing franchisees within the Engel & Volkers system. A low number of non-renewals can indicate that franchisees are generally satisfied with their investment and the support provided by the franchisor. Conversely, a high number of non-renewals could signal potential issues with profitability, franchisor-franchisee relations, or other factors affecting franchisee success.
It is important to note that non-renewals are a standard part of the franchise lifecycle, as franchisees may choose not to renew for various personal or business reasons. However, it is advisable for potential franchisees to further investigate the reasons behind any non-renewals, to gain a deeper understanding of the franchise system's strengths and weaknesses. This can be done by speaking with current and former franchisees and asking the franchisor for more detailed information about franchisee satisfaction and support.