What is the name of your state? New Hampshire
I own 2 franchises. My agreement is up in December. The new agreement in which they drafted up is ridiculous. I will be making no money at all if I were to agree with it. What I want to happen is 1. They renew my contract according to the original terms. 2. Buy me out at fair market value or 3. Open as an independent. Option 3 is what I really want, except, I have a no compete clause. It is a 2 year 25 mile clause.
What I want to know is, do I have any legal ground to get out of this clause? Their new contract is totally ridiculous and I will not sign it. I don't believe that they will give me what my franchises are worth, even though I know that they want them (they have been buying up all the franchises under market value).
Now, I own the land in which my businesses sit, but I couldn't allow them to go stagnant for 2 whole years. I love the business and want to continue operating. Does anyone have any advice? My lawyer does not seem to have the answers in which I seek. Thanks.
I own 2 franchises. My agreement is up in December. The new agreement in which they drafted up is ridiculous. I will be making no money at all if I were to agree with it. What I want to happen is 1. They renew my contract according to the original terms. 2. Buy me out at fair market value or 3. Open as an independent. Option 3 is what I really want, except, I have a no compete clause. It is a 2 year 25 mile clause.
What I want to know is, do I have any legal ground to get out of this clause? Their new contract is totally ridiculous and I will not sign it. I don't believe that they will give me what my franchises are worth, even though I know that they want them (they have been buying up all the franchises under market value).
Now, I own the land in which my businesses sit, but I couldn't allow them to go stagnant for 2 whole years. I love the business and want to continue operating. Does anyone have any advice? My lawyer does not seem to have the answers in which I seek. Thanks.