I signed up with Alliance Acquisitions in December. Like the other comments I have read about this company, I too was told there was an interested buyer of some sort. I did pay for a professionally done bound, certified valuation from a major firm. This company who did mine, had nothing to do with Alliance. They were independant, and national in scope.in fact, the valuation company did valuations for the World Bank among other. After reading this, I decided to anonomously call the same company and determine if I had overpaid. I was quoted retail rate on the same valuation I received of 40% higher.
So it was less through Alliance. Second, I have read that there is either no qualification of buyers or there are fake buyers outright designed to fulfill contractual obligations. My question is whats in it for Alliance if they dont do these valuations? The only other charge was when they sell a business, there is a commission. That commission in my case was 3.9%! I called 10 brokers this week asking them to list my business, and 5 said they too needed some kind of proof of value, the others said later. Of the 10, the least expensive was 7%, and the most expensive was 12%. That sounds really high, so ultimately Alliance has better commission structure.
Lastly, and in my case most importantly, is I am in negotiation with a real buyer with real money and financing, and the valuation is being used for what it is... A forecast of what my business is worth based off of past performance. Just like the stock market. I have a letter of intent with my buyer, and am in the process of reviewing a buy sell agreement. Escrow funds have been deposited. The price is somethihg I am happy with.in conclusion, I am sure there are situations where companies like this do not sell business, and perhaps there are even loopholes, but I have not had that experience. Service recommended, and the ex-employee comment I have one thing to suggest... How many of you who own businesses and are reading this have had to fire an employee and have them call OSHA or some other organization just to stick it to you to get even. I surely have. I am not saying she is lying, but why go to the trouble of doing this? Why didnt she do it during her employment if she was so bothered? There are lots of ways to whistle blow legally and do it through the proper channels. Truth is in the eye of the beholder. Hope this helps out.
0 comments