How many Engel & Volkers outlets were terminated in Florida during 2022?
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 were 3 terminations of Engel & Volkers franchises in Florida during 2022. The table provided in Item 20 outlines the status of franchised outlets for the years 2022 to 2024, offering a year-by-year breakdown of terminations.
This information is crucial for potential franchisees as it provides insight into the stability and success rate of existing Engel & Volkers franchises in Florida. A higher number of terminations could indicate potential issues with the franchise system, market conditions, or franchisee performance. Conversely, a low number of terminations, as seen in 2023, might suggest a more stable and supportive environment.
Prospective franchisees should consider these figures in conjunction with other data in the FDD, such as the number of new outlets opened and the reasons for closures, to gain a comprehensive understanding of the franchise's performance and potential risks. It's also advisable to speak with current and former franchisees to gather firsthand accounts of their experiences and challenges within the Engel & Volkers system.