What was the total value of Engel & Volkers' notes receivable, net of current and allowances, in 2023?

According to Engel & Volkers' 2025 Franchise Disclosure Document, the total value of notes receivable, net of current and allowances, was $229,858 in 2023. This figure represents the balance of notes receivable after accounting for both current portions and any allowances for potential losses. Notes receivable are amounts due to Engel & Volkers from its franchisees or other parties, typically arising from financing or payment arrangements.

The 'net of current' designation means that the amount due within one year is subtracted from the total, while 'net of allowances' indicates that an estimated amount for uncollectible notes has also been subtracted. This provides a more realistic view of the actual value Engel & Volkers expects to receive. For a prospective franchisee, understanding the nature and collectibility of these notes is important, as it can reflect the financial health and risk management practices of the franchisor.

Franchisors often use notes receivable to finance franchisees or to structure payments for various services or fees. The allowance for doubtful accounts is a standard accounting practice to account for the risk that some receivables may not be collected. A significant change in this figure from year to year could indicate changes in the creditworthiness of those who owe money to Engel & Volkers or a change in Engel & Volkers's lending practices.