How many Engel & Volkers outlets were terminated in Florida during 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' 2025 Franchise Disclosure Document, there were 3 terminations of Engel & Volkers franchises in Florida during 2024. The data is part of a larger table detailing the status of franchised outlets across various states. This table includes information on outlets at the start of the year, outlets opened, terminations, non-renewals, outlets reacquired by the franchisor, outlets that ceased operations for other reasons, and outlets at the end of the year.
For a prospective Engel & Volkers franchisee, this information is crucial for assessing the stability and performance of existing franchises within specific regions. A higher number of terminations could indicate potential challenges or issues within the franchise system in that area. Conversely, a low number of terminations, like in Florida, might suggest a more stable and successful market for Engel & Volkers franchises.
It's important to note that terminations are just one factor to consider when evaluating a franchise opportunity. Other factors, such as the number of new outlets opened, non-renewals, and reasons for ceased operations, should also be taken into account to get a comprehensive understanding of the franchise's health and growth potential. Reviewing these trends over multiple years, as presented in the table, can provide a more insightful perspective than looking at a single year in isolation.
Prospective franchisees should also investigate the reasons behind any terminations to understand whether they were due to franchisee performance, market conditions, or other factors. This due diligence can help in making an informed decision about investing in an Engel & Volkers franchise.