In Illinois, how many Remax outlets ceased operations for reasons other than termination, non-renewal, or reacquisition by the franchisor in 2024?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Column 2 Year | Column 3 Outlets at Start of Year | Column 4 Outlets Opened | Terminations | Column 6 Non- renewals | Reacquired by Franchisor | Ceased Operations - Other Reasons | Outlets at the End of the Year |
|---|---|---|---|---|---|---|---|---|
| Illinois | 2022 | 152 | 8 | 1 | 7 | 0 | 1 | 151 |
| 2023 | 151 | 3 | 1 | 2 | 0 | 2 | 147 | |
| 2024 | 147 | 6 | 3 | 4 | 0 | 6 | 141 |
Source: Item 20 — **OUTLETS AND FRANCHISEE INFORMATION (FDD pages 89–108)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, in Illinois, 6 Remax outlets ceased operations for reasons other than termination, non-renewal, or reacquisition by the franchisor during 2024. This information is crucial for potential franchisees as it offers insight into the stability and operational challenges within the Illinois market.
The data point regarding 'ceased operations - other reasons' can include a variety of factors such as franchisee choice to close due to poor performance, relocation, or other personal or business considerations. It is important to note that this number is in addition to outlets that closed due to termination (3) or non-renewal (4), providing a more comprehensive view of outlet turnover.
For a prospective Remax franchisee, understanding the reasons behind these closures can inform their business strategy and risk assessment. Investigating the specific causes for these 'other reasons' can provide valuable insights into potential challenges and opportunities within the Illinois market. This information, combined with data from other states, can help a franchisee develop a more robust business plan and prepare for potential market-specific issues.