I received a fax from Alliance Acquisitions back in March 05. The fax stated that they help sell businesses. They said they have a list of buyers that were interested in the type of business I have. I called and they said they would have a rep contact me about a time when he could come to my office and meet to discuss the selling of my practice.
As the date approached I started to wonder how much he could sell my business for. As I started to think about it I didn't think I could get much for it, so I called Todd Boffo to cancel our meeting. Todd was the sales rep. Happened to be in the northern Virginia area and convinced me that my business was probably worth more than I thought.
So I decided to go ahead and have him meet me at my office. He asked me about my collections, liabilities, assests. After about 30 minutes of talking he wrote some numbers down based on what I told him and came up with a selling price of $320,000-$360,000. to me this was great because I thought my business was only worth about $100,000.
He told me that if I signed with Alliance they would guarantee selling my business within 12 months or I would receive a full refund. He said this several times and I questioned him several times about the refund if my practice was not sold. He also told me that any potential buyers would have to offer me what my assessed value was which was in the $320,000 360,000.
He also told me that a independent company would come to asses the value of my company and then write a Business Valuation Report. The name of this company is RSI & Associates, Inc., Wells Fargo Bank Building 6000 South Padre Island Drive, Suite 250 Corpus Christi, Texas 78412. 361-994-8095, 800-230-9086, Fax 361-994-8054. value-solutions.com.
If the potential buyers didn't offer me a price within my range then this was not a qualified buyer and I would still receive a refund of $5000.
He also told me that I would pay a % of my sales price as a fee. This would be $15,000. He also told me he only gets paid based on commission, and that he didn't receive a dime from the $5000 I gave him that evening. This money was to pay for the valuation.
The only thing Todd said was that the business needed to be sold. He never mentioned that potential lenders would be a qualified lead and that I would not receive a refund.
Both Todd Boffo and Alliance are a bunch of thieves.
They should be arrested and tried for breaking the law. As Todd stated to me was that an independent firm would come to evaluate my businesses worth and they never did. So my business valuation is a fraud because it is solely based on what I told Todd Boffo in our 30-40 minute meeting. Since they did not provide what they saidthay would do both in the valuation and the selling of my business, I should not only receive my $5000 refund but damages because of false reporting of my business worth.
We never heard from Todd or Alliance after they received our check. Five months later we give them a call and they asked if we had received their evaluation. Yes, but we wanted to know why they had not called us to let us know of any potential buyers.
We knew something was up. They kept making sure we were happy with their evaluation.
Alliance said they were working on their computers, and would get a monthly statement to us regarding any activity on our business. We waited one month and still received nothing. We call again. Nothing but the run around. They were rude. They were insulting. They said anything to get us off the phone. We never received any return phone calls. 30 days prior to the end of the contract we get a phone call from Tangela stating she had a qualified buyer for us. This time I did not call her I called our Lawyer and found out that this was not a company wanting to buy our business, but a Lender. They had no intentions of buying our business. He also stated that the fine print on the contract stated that they only had to present a potential lender. Todd never happened to mention this small detail.
Tangel told me they did not have to sell our business and that if I kept bothering her she was not going to continue trying to sell our business. We do not have the time to tell all the things that were said to us to keep us from calling. It worked for awhile. We did not need the abuse we would receive every time we called.
We were trying to sell our business to move out of the area. Our nine year old daughter Amber-Marie had died from Lyme disease, and our three sons had contracted to disease as well. We live in a deer invested area. We needed to get out for medical reasons. When Todd contacted my husband I was out of town getting treatment for our children. Todd and Alliance knew why we were needing to sell. They are heartless individuals.
Tangela told me I should not take out my problems on her. She told me the fact that I was demanding action, was why I was not getting it, and that she would no longer try to help us sell our business.
We are still here one year later. My children our still getting tick bites. We are out precious money we need to get our children treatment.
The biggest disappointment of all is the fact that there are actually people out there that would do this to another individual. I do not know how these people sleep at night. May God have mercy on their soul.