factual

What was the reason for termination of Stephen Nieroda's EXIT 1st Class Realty franchise (FL875)?

Exit Franchise · 2025 FDD

Answer from 2025 FDD Document

13-Sep-24 FL905 Casey Doran Heatherly EXIT Realty Partners 561 567 3333 4 S.E 6th Avenue Delray Beach, FL 33483 Default
13-Sep-24 FL897 Casey Doran Heatherly EXIT Realty Partners 561 567 3333 4 S.E 6th Avenue Delray Beach, FL 33483 Default
13-Sep-24 KY535 George Green Julie Green EXIT Realty Green & Associates 502 806 3948 8607 Smyrna Pkwy Unit 108 Louisville, KY 40228 Default
19-Sep-24 MD549 Tina Hyatt Jim Hyatt Jr. EXIT Results Realty 410 705 6295 5517 Oregon Ave Arbutus, MD 21227 Mutual Release
19-Sep-24 MD580 Tina Hyatt Jim Hyatt Jr. EXIT Results Realty 443 588 5062 3905 Mountain Rd., Suite A Pasadena, MD 21122 Mutual Release
27-Oct-24 TN631 Sandra Kay Brewer EXIT Realty Brewer and Co 931 433 2633 117 Main Avenue Fayetteville, TN 37334 Expired
31-Oct-24 AB588 Angela Ford-McKinnon Jim McKinnon EXIT Key Realty 780 845 0505 602 10th St. Wainwright, AB T9W 1E2 Mutual Release
25-Oct-24 FL931 Sebastian Manes Michelle Manes EXIT Real Estate Results 407 788 6474 125 W. Pineview St Suite 1009 Altamonte Springs, FL 32714 Mutual Release
31-Oct-24 FL929 Vincent Esposito EXIT Realty Ocala 352 300 3200 8530 SW 103rd St. Suite C Ocala, FL 34481 Mutual Release
15-Nov-24 MD551 Tina Hyatt Jim Hyatt Jr. EXIT Results Realty 410 705 6296 6020 Meadowridge Center Dr. Suite M Elkridge, MD 21075 Mutual Release
19-Nov-24 CA670 Margaret Vierra EXIT Realty Keystone 408 778 9990 22076 Gilmore Ranch Rd Red Bluff, CA 96080 Expired
19-Nov-24 TX625 Billy Barrows Maria Rojas EXIT Realty Central 915 702 0158 5724 Trowbridge El Paso, TX 79925 Expired
26-Aug-24 NB607 Marcella Poitras EXIT Realty Elite 506 737 7377 30 A Rue de l'Église Edmundston, NB E3V 1J2 Mutual Release
19-Nov-24 MS511 Sherry Pullens Brandy Tharpe EXIT Southern Realty 601 909 6940 59 98th Place Blvd. Hattiesburg, MS 39402 Mutual Release
2-Oct-24 FL813 Robert Nass EXIT Realty Home Team 386 734 2595 905 Biscayne Blvd. Deland, FL 32724 Mutual Release
6-Dec-24 FL925 Michelle Manes Sebastian Manes EXIT Real Estate Results 561 781 5590 636 US Hwy One Suite 208 North Palm Beach, FL 33408 Default
6-Dec-24 FL934 Michelle Manes Sebastian Manes EXIT Real Estate Results 561 781 5590 745 US Hwy Suite 102 North Palm Beach, FL 33408 Default
5-Dec-24 KY549 Robert & Angela Hildebrandt EXIT Realty Heritage 512 970 8417 5893 New Jackson Hwy Hodgenville, KY 42748 Default
5-Dec-24 KY550 Robert Hildebrandt Angela Hildebrandt EXIT Realty Heritage 512 970 8417 5893 New Jackson Hwy Hodgenville, KY 42748 Default
9-Dec-24 CT515 Steve Alkandros EXIT New England Realty Advisors 888-456-3948 470 Bank Street Suite 201 New London, CT 06320 Default
16-Dec-24 FL903 Joanne and Victor DeFrisco EXIT Realty Premier Elite 561 792 3948 8961 Hypoluxo Rd Lake Worth, FL 33467 Expired
9-Dec-24 MD574 Daniel Shoemaker III EXIT on the Bay Realty 410 304 2011 1539 Postal Rd #68 Chester, MD 21619 Expired
20-Dec-24 SD505 Lynda Cook EXIT Realty Sioux Empire 605 498 3200 405 E. Brian St. Suite #1 Tea, SD 57064 Expired
12-Dec-24 FL875 Stephen Nieroda EXIT 1st Class Realty 321 259 3990 3700 N Harbor City Blvd, Suite 1E Melbourne, FL 32935 Mutual Release

Source: Item 23 — RECEIPT (FDD pages 42–235)

What This Means (2025 FDD)

According to Exit's 2025 Franchise Disclosure Document, Stephen Nieroda's EXIT 1st Class Realty franchise (FL875) was terminated due to a "Mutual Release" as of December 12, 2024. This indicates that both Exit and the franchisee, Stephen Nieroda, agreed to terminate the franchise agreement.

A "Mutual Release" suggests that both parties likely came to a consensus to end the franchise relationship, possibly due to various reasons such as differing business goals, changes in personal circumstances, or other unforeseen issues. This is a fairly common resolution in franchising when the franchisor and franchisee determine that continuing the relationship is no longer beneficial or viable.

For a prospective Exit franchisee, understanding the circumstances under which a franchise agreement can be terminated is crucial. While "Mutual Release" implies an amicable agreement, it's important to investigate what events or conditions might lead to such a situation. Reviewing the franchise agreement's termination clauses and understanding the franchisor's history of franchise terminations can provide valuable insights into the potential risks and rewards of investing in an Exit franchise.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.
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