Broker asking for a business plan even before signing an NDa

by a searcher from Florida Institute of Technology

5 months ago

This is one of the strange one, I talked to. He asked me a business plan before signing an NDA or knowing much about the business. Why does he care about it, as long as am able to fund the transaction ? Looks like way overboard. I ended up hanging up the phone. Just venting how some brokers think they are the god..

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7 comments

professional

Hard pass. It will only get worse with this broker. I'm sure you'll see: 1) request for personal financial statement 2) demand for "earnest money deposit" 3) request to sign "their" (horrible) APA right out of the chute.

2 months ago | like reply | 0 likes

searcher from University of Virginia-Darden - Darden School of Business

Sounds like the broker is trying to weed you out. I like to have a 1-pager on hand about my intentions in general about why I'm looking to acquire and how I plan to operate the business, while noting in the email that every business if different and I'd need to learn more before coming up with a specific plan

3 months ago | like reply | 0 likes

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