How many renewal terms are Engel & Volkers franchisees eligible for?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
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The Shop Fitting Manual 157 pages
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**Corpo
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers's 2025 Franchise Disclosure Document, the number of renewal terms available to franchisees is not explicitly defined in the provided excerpts. However, Exhibit J, titled "RENEWAL RIDER," indicates that franchisees renewing their agreements will have additional renewal term(s), with the length of these terms specified in years. The renewal rider also mentions that the renewal fee will be a specific dollar amount, but the actual amount is not provided in the exhibit.
This suggests that the availability and length of renewal terms are determined on a case-by-case basis when a franchisee seeks to renew their agreement. The Renewal Rider document includes blank spaces for the number of additional renewal terms and the renewal fee, implying these are negotiable or determined at the time of renewal.
Prospective Engel & Volkers franchisees should inquire about the standard length of the initial franchise term and the typical number and length of renewal terms offered to franchisees. Understanding the conditions and costs associated with renewals is crucial for long-term business planning and financial forecasting. It is also important to understand how the renewal fee is determined and whether it is subject to change.