Disclaimer: I am not seeking legal advice re: contract in clause. Merely explaining the contract and asking for suggestions on how to negotiate with Employer.
So, I have just verbally accepted an offer of employment and now reviewing contract. There is a clause which disallows me from doing any kind of sideline business.
Over the past few months I have developed a business which I anticipate to be very profitable and due to heavy automation it will not take up too much of my time. I envisage that I will be able to generate a 30k+ profit (pretty tax) per year in the next 12-18 months.
I am disheartened that if I take this new job I won't be able to continue the business. As a side note. The sideline is acruelly part of my hobby in software development which is also my profession. If it didn't involve business there would be no problem :(
So how should I approach this with my potential new employer. I am think about saying that I thought I would be able to continue the business and generate finance. As a result of the contract I will be at a loss. I would like my Base to be slightly increased. Also it is worth noting that I think the initial offer of salary was kind of low due to my bad management of negotiation. I think there is extra scope for salary on the employer side.
What is an advisable way to approach this with?