How many Remax outlets in Puerto Rico ceased operations for reasons other than termination, non-renewal, or reacquisition by the franchisor in 2023?
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 |
|---|---|---|---|---|---|---|---|---|
| Puerto Rico | 2022 | 5 | 5 | 0 | 1 | 0 | 1 | 8 |
| 2023 | 8 | 1 | 1 | 0 | 0 | 1 | 7 | |
| 2024 | 7 | 0 | 1 | 0 | 0 | 0 | 6 |
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 2023, one Remax outlet in Puerto Rico ceased operations for reasons other than termination, non-renewal, or reacquisition by the franchisor.
This information is crucial for potential franchisees as it provides insight into the stability and operational challenges within the Remax franchise system in Puerto Rico. Understanding the reasons behind outlet closures, especially those not due to typical factors like termination or non-renewal, can help a prospective franchisee assess potential risks and opportunities in that specific market. These 'other reasons' could range from economic factors to local market conditions, which would be important to investigate further.
Reviewing this data over several years, as presented in the table, allows for a more comprehensive understanding of trends. For instance, noting whether such closures are consistent or sporadic can indicate underlying issues or isolated incidents. It is also important to compare these figures with other regions to understand if Puerto Rico faces unique challenges within the Remax system. Prospective franchisees should discuss these 'other reasons' with Remax to gain a clearer understanding and evaluate the potential impact on their investment.