In which states did Engel & Volkers have zero outlets at the start of 2022?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
1 | | | 2024 | 0 | | Idaho | 2022 | 2 | | | 2023 | 2 | | | 2024 | 0 | | Nevada | 2022 | 0 | | | 2023 | 3 | | | 2024 | 0 | | Utah | 2022 | 0 | | | 2023 | 7 | | | 2024 | 0 | | Washington | 2022 | 1 | | | 2023 | 2 | | | 2024 | 1 | | Wyoming | 2022 | 0 | | | 2023 | 1 | | | 2024 | 0 | | TOTAL | 2022 | 9 | | | 2023 | 49 | | | 2024 | 1 | | Column 1 State | Colum n 2 Year | Colum n 3 Outlets at Start of Year | Colum n 4 Outlets Opene d | Column 5 Termination s | Column 6 Non- Renewal s | Column 7 Reacquire d by Franchiso r | Column 8 Ceased Operations - Other Reasons | Colum n 9 Outlets at End of the Year | |---|---|---|---|---|---|---|---|---| | Alabama | 2022 | 3 | 1 | 0 | 0 | 0 | 0 | 4 | | | 2023 | 4 | 1 | 0 | 0 | 0 | 0 | 5 | | | 2024 | 5 | 0 | 0 | 0 | 0 | 0 | 5 | | Arizona | 2022 | 5 | 0 | 0 | 0 | 0 | 0 | 5 | | | 2023 | 5 | 0 | 0 | 0 | 0 | 0 | 5 | | | 2024 | 5 | 0 | 0 | 0 | 0 | 0 | 5 | | Arkansas | 2022 | 4 | 0 | 0 | 0 | 0 | 0 | 4 | | | 2023 | 4 | 0 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 71–88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, several states had zero outlets at the start of 2022. Specifically, Connecticut, the District of Columbia, New Hampshire, and Ohio each had no Engel & Volkers locations operating at the beginning of 2022. This indicates that these territories were either new markets for Engel & Volkers or markets where previous franchise operations had ceased.
For a prospective franchisee, this information is crucial for assessing market potential and saturation. Entering a state with no existing Engel & Volkers presence, like Connecticut, the District of Columbia, New Hampshire, and Ohio in 2022, presents both opportunities and challenges. On one hand, there is no direct competition from existing Engel & Volkers franchisees, allowing a new franchisee to establish the brand in the area. On the other hand, the franchisee will bear the responsibility of building brand awareness and market share from scratch.
It's also worth noting that while some states had no outlets at the start of 2022, the landscape changed by the end of the year. For example, the District of Columbia saw the opening of one outlet during 2023, and New Hampshire saw the opening of one outlet during 2023, indicating a potential for growth in previously untapped markets. Ohio saw the opening of two outlets during 2023. These changes highlight the dynamic nature of franchise development and the importance of considering not just current outlet numbers but also recent expansion trends.
Therefore, a potential Engel & Volkers franchisee should carefully evaluate the market dynamics in states with historically low outlet presence. This includes assessing local demand for real estate services, understanding the competitive landscape, and developing a robust marketing strategy to establish the Engel & Volkers brand in the community. Further research and discussions with the franchisor can provide valuable insights into the specific opportunities and challenges in these markets.