I think it does have a termination provision. I think they might have breached the franchise agreement because I saw a charge that was not mentioned anywhere in the agreement unless I overlooked it..
This is my main concern. I have owned my own independent tax office since June of 2009.
I opened a tax/insurance franchise 3 months ago and I am not sure it is going to work out for us. If we decide to terminate the contract because of the no compete clauses are we going to be able to still run our current tax office. I am an insurance agent. Am I not going to be able to sell insurance anymore?
Another issue is that our landlord signed a contract with us saying that we could do taxes in our office and HR block is in the same shopping center and they signed something with the landlord saying that he wouldn't have another person there doing taxes. My lease will be up in 3 years before my franchise agreement is over and we will most likely be forced to move and it would cost ALOT of money to relocate..
Could you look over the section of the agreement that talks about the no compete and termination part of it..I want to know what will happen if I have to get out.
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That would be great! See our independent tax office is located in a different city from where we opened our franchise. And since I have already owned my tax office before the franchise would that be took in consideration? Look around page 40. That will take you straight to the part where it says if I do compete I have to give 50% of my earnings and they have the right to check my books. Not only is this franchise going down, and we are going to lose all of the money invested, now we are going to lose our earnings for 2 years at our other office?
Ok because our independent tax office is located outside of the protected area. So it is safe to say that we will not have to give them half of our profits this coming tax season?
I also saw something saying that even if we take them to court for breach of contract that section 17 of the no compete will still be enforceable?
I know that because of the landlord situation that we are going to be kicked out once our lease expires in 3 years anyhow. Maybe I should talk to the landlord about buying us out and then he can terminate the contract with them.
Thank you so much for all your help.
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