I made contact with a broker who had a "website business" for sale... the firm didn't have a lot of websites within their listings....but I figured I'd get some information.
The listing itself was completely vague, just kind of rambled on about the industry and how it's a 50 million dollar industry...
No mention of revenue/cashflow... nothing... just the asking price and the industry.
I called up, was told I'd need to sign a confidentiality agreement.... "no problem" says me, I completely understand.
And then I get the documents...
Yes, that's documents...
1 page non-disclosure agreement
2 page confidentiality agreement
1 page "personal financial statement"
Here's a copy of the finance statement
About equivalent to a mortgage application.
The business was priced at 70k... the broker admitted it didn't have much revenue when I called him, but the listing stated it was a "ground-floor opportunity to get into the business".
After finding out via phone it didn't have much revenue I wasn't too interested and when I saw the documentation they were asking...
Have you ever seen anyone ask for so much data before even revealing the site or any data about it?
What would you do?