When is the Renewal Fee due for an Engel & Volkers franchise?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Renewal Fee (See Note 1) | 50% of Initial Franchise Fee | Before the effective date of the Renewal Term | There are other requirements for renewal in addition to paying the renewal fee. |
Source: Item 6 — OTHER FEES (FDD pages 22–30)
What This Means (2025 FDD)
According to Engel & Volkers's 2025 Franchise Disclosure Document, the Renewal Fee is due before the effective date of the Renewal Term. The renewal fee is 50% of the initial franchise fee. In addition to paying the renewal fee, there are other requirements for renewal that a franchisee must meet.
This means that if a franchisee wants to renew their Engel & Volkers franchise agreement, they must pay a fee equal to half of what they initially paid to start the franchise. This payment must be made before the new franchise term officially begins.
Prospective franchisees should be aware of this significant cost when considering the long-term investment in an Engel & Volkers franchise. It is also important to understand all the other requirements for renewal, as simply paying the fee does not guarantee that the franchise agreement will be renewed.