How many Remax outlets were opened in New Jersey during 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 |
|---|---|---|---|---|---|---|---|---|
| New Jersey | 2022 | 167 | 5 | 0 | 4 | 0 | 3 | 165 |
| 2023 | 165 | 8 | 6 | 5 | 0 | 8 | 154 | |
| 2024 | 154 | 7 | 7 | 6 | 0 | 8 | 138 |
Source: Item 20 — **OUTLETS AND FRANCHISEE INFORMATION (FDD pages 89–108)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, there were 7 Remax outlets opened in New Jersey during 2024. The table provided in Item 20 outlines the status of franchised outlets from 2022 to 2024. It includes the number of outlets at the start of the year, the number of outlets opened, terminations, non-renewals, outlets reacquired by the franchisor, outlets that ceased operations for other reasons, and the number of outlets at the end of the year.
For a prospective Remax franchisee, this data offers insight into the dynamics of the New Jersey market. The opening of 7 new locations suggests continued interest in the Remax brand within the state. However, it is important to note that the number of terminations, non-renewals, and outlets ceasing operations also impacts the overall growth and stability of the franchise network.
Specifically, in 2024, while 7 new Remax outlets opened in New Jersey, there were also 7 terminations, 6 non-renewals, and 8 outlets that ceased operations for other reasons. This resulted in a net decrease in the number of Remax outlets in New Jersey, from 154 at the start of the year to 138 at the end of 2024. This indicates that while there is some expansion, there are also challenges in maintaining existing franchises.
Potential franchisees should investigate the reasons behind terminations, non-renewals, and ceased operations to understand the factors influencing the success and failure of Remax franchises in New Jersey. Further research into market conditions, competition, and franchisee support could provide a more comprehensive understanding of the opportunities and risks associated with opening a Remax franchise in the state.