management agreement

[washman9]

we are owner / operators of 2/4 auto/self serv car wash with an attached unbranded convenience store with fuel sales. this is a new, modern facility with all the bells and whistles seen today in the convenience store industry. after running it ourselves for the past two years, we are looking to form an alliance with another c-store owner, who currently owns and manages 12 stores, in order to take advantage of her buying power, management experience, applicant pool, name recognition, etc. she will run the store as one of her own and we will pay a monthly managment fee to her. we are both of high integrity and have a good working relationship with each other with multiple ways to verify trust and accountability, but i need to put something in writing that reflects standard provision of the management / owner agreement. does anyone know of any online sources of a generic such agreeement that i could download and then modify to suit our situation. appreciate thoughts.

 

[Earl Weiss]

Just because you find an on line agt does not mean it will adequately potect you. If there is a problem, whose malpractice insurance will cover it. If you find an agt have a lawyer look at it. If not have a lawyer create one.

 

[Waxman]

Definitely a situation requiring a lawyer!

I'm surprised that with a deal of this magnitude you'd consider an on-line boiler plate document.

IMO a business like yours should use a competent attorney who is familiar with you and your company. I'm just a little guy and I have my lawyer on speed dial!

 

[PaulLovesJamie]

ooh - I'd use an attorney for this one.

 

[rph9168]

What you might save in the beginning might cost you a lot in the end. Find a competent lawyer and let them do their job.

 

[smokun]

There typically are legal offices that specialize in these areas, and even some within the same industry. It might be wise to seek advice from one or two of them; it's usually a free initial consultation. In legal work, it pays to go to specialists. They should offer a strategy that not only provides an agreement (possibly boilerplate that can be tailored for you), but also an overview of how the relationship should be conducted. Simple agreements are only a small part of the equation if things go wrong, and having everything else in place will avoid your financial wheels being spun off after-the-fact. May cost a bit more initially, but it's like the assurance of an extended warranty; if and when you really need it, it's priceless.

 

[Indiana Wash]

ROFL. I don't mean to laugh, but an agreement to adequately protect you will be difficult for an attorney who has years of schooling and experience. Even then, if you have an issue, you will find that the agreement does not do everything that you wanted. There are always unforseeable events which can lead to different outcomes. I would supposed that you value your business and equipment at more than $39.95, but you want to use a $39.95 generic form which applies in some generic jurisdiction to protect your assets.

Examples of items which may adversely effect your agreement which the lay person or form writer may not consider are:

Condemnation (car washes are generally next to roads, roads are sometimes widened)
Death of either party
Divorce
Bankruptcy
Catastrophic Loss
Liability
Taxes
Liquidated Damages
Costs of litigation

Indiana Wash, JD