I have been in this business for over 20 years now. I handle all the inquiries for the company. In essence, I am the “Gate-Keeper” that ALL prospective buyers have to go through. Once I have done my job their inquiry is passed to the appropriate agent in our company.
Lately I have noticed a disturbing business practice that I find very questionable and unsettling. I am talking about the dramatic increase in the number of individuals that have created PEG or Micro-PEG “look-alike” websites. These websites are designed to ensnare an unsophisticated small business owner thinking of selling his/her business. The terms they use throughout their websites “We” and “We’re” and “Our” are intentional. They are specifically used to create a false impression in the business owner’s mind that they are well funded, seasoned, acquisition professionals. When I peel back a layer or two I almost always find out that all they have besides a slick website is a desire to buy a business, very little cash, and a non-binding letter from a loan broker claiming they might, it could be possible, theirs maybe a chance, they could qualify for an SBA backed loan.
Granted, I have come across some sites operated by individuals that are looking to purchase a business and most of them are upfront and honest about their intentions. These are not the site of which I speak.
