What is the range of potential training fees for a brokerage manager for an Engel & Volkers franchise?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Expenditure | Amount | Method of payment | When due | To whom payment is to be made |
|---|---|---|---|---|
| Initial Franchise Fee | Minimum of $35,000 (See Note 1) | (See Note 1) | On signing the Franchise Agreement (See Note 1) | Us |
| Training Fees (See Note 2) | $690 - $5,594 | As arranged | Before commencing training | Us |
| Training Fee for | $0 to $2,498 | As arranged | Before | Us |
| brokerage manager | commencing | |||
| (See Note 16) | training | |||
| Travel and Accommodation Expenses While Training (See Note 3) | $5,000 - $10,000 | As arranged | As incurred before commencing training | Independent Vendor |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 30–38)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the estimated training fee for a brokerage manager ranges from $0 to $2,498. This fee is in addition to the initial franchise fee, which entitles one person to participate in the Franchisee System Training (LPT). If the franchisee or another individual attends the LPT, then the brokerage manager will have to be trained at the stated additional charge.
This training fee is paid to Engel & Volkers before the brokerage manager commences training. It's important to note that this fee is non-refundable, regardless of whether the training is completed or not. This additional training cost should be factored into the overall initial investment when considering an Engel & Volkers franchise.
Prospective franchisees should inquire about the specific content and duration of the brokerage manager training to fully understand the value provided for the $2,498 fee. Understanding the training format (virtual or in-person) and the topics covered will help in assessing the return on this investment. Franchisees should also clarify whether travel and accommodation expenses are included in this fee or are separate, as the table indicates separate costs for travel and accommodation expenses while training.