Previously on our BUSINESS DEAL OR NO DEAL series, we discussed whether you should or shouldn’t buy a business you are unfamiliar with. This article will be touching on business deals with the ACT NOW policy.
In one way or another, you’ve heard this spiel: “If you act now, we will give you <benefit>, <benefit>, and <benefit>. Offer is only good today!” Some even tell you that the offer is only on the table today. This is what we’d like to call the ACT NOW POLICY. Now, is it a DEAL or NO DEAL? The answer is, more often than not, NO DEAL. The Act Now Policy raises so many red flags. Let’s look into WHY these kinds of offers exist.
Sometimes, it’s because the seller just needs the money now or that the demand is just so high for this that if you don’t act now, there won’t be anything to buy and these reasons are okay… however, there’s more to this. Some sellers just want you to sign the dotted line now because they have something to hide. One way of looking at deals like this is that they are trading TIME for so many benefits. Now consider what you can do with that time. That time could be used to do research on this company and maybe see that they aren’t doing so well or that they have a problem that’s small now but they project will grow into a huge one that may paralyze the business.
Remember, buying a business is a big decision. Doing your due diligence is a must. The Act Now Policy wants you to do away with that so, unless you are 100% sure that this is simply a case of the seller needing the money ASAP and nothing more, deals like this are usually bogus.
About Brightblue Transition Solutions
Located on Vancouver’s North Shore we are the premier business broker in the lower mainland, contact us if you need any help buying or selling a business in the greater Vancouver or lower mainland areas.