How many Engel & Volkers outlets in Utah were transferred in 2023?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
a | 2022 | 1 | | | 2023 | 2 | | | 2024 | 0 | | California | 2022 | 0 | | | 2023 | 23 | | | 2024 | 0 | Notes: (1) All numbers are set forth as of December 31 of each year.
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Table No. 3 Our Franchised Residential Real Estate Brokerages Status of Franchised Outlets for Years 2022 to 2024
| State | Year | Number of Transfers |
|---|---|---|
| Colorado | 2022 | 5 |
| 2023 | 8 | |
| 2024 | 0 | |
| Georgia | 2022 | 0 |
| 2023 | 1 | |
| 2024 | 0 | |
| Idaho | 2022 | 2 |
| 2023 | 2 | |
| 2024 | 0 | |
| Nevada | 2022 | 0 |
| 2023 | 3 |
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 7 transfers of Engel & Volkers outlets in Utah during 2023. This information is based on transfers of outlets from existing franchisees to new owners, excluding transfers to the franchisor itself. The data reflects the number of transfers as of December 31, 2023.
This statistic is relevant for prospective franchisees as it provides insight into the resale activity within the Engel & Volkers franchise system. A higher number of transfers could indicate a healthy market for existing franchises, while a lower number might suggest fewer opportunities to acquire an established Engel & Volkers business. Franchise transfers can occur for various reasons, including franchisee retirement, relocation, or a change in business focus.
It's important to note that the transfer numbers do not specify the reasons behind the transfers. A prospective franchisee should investigate further to understand the context and reasons for franchise resales in specific states. Understanding the reasons behind these transfers can help a potential franchisee assess the stability and attractiveness of the Engel & Volkers franchise in Utah.
Overall, the transfer data provides a valuable piece of information for assessing the dynamics of the Engel & Volkers franchise network. Potential franchisees should consider this data in conjunction with other factors, such as the number of new outlets opened, terminations, and overall performance of the franchise in the desired region.