Today I received an email solicitation from “Generational Equity.” A quick comparison showed that if they are not an incarnation of GW Equity, then serendipity placed them at the same address with some of the same personnel. A little over two years ago, I wrote a brief blog upon declining to hand over $29,975 to GW Equity. The money was to have been an advance of their commission should they broker a sale of my company. Apparently a lot folks wanted to check them out, because that blog pulled record hits. No wonder. GW marketed aggressively, with personal phone calls inviting business owners to a free seminar, including lunch, in a nice hotel venue. The seminar was intoxicating. But after I calmed down, checked them out and weighed their proposal with a cleared mind, I sent them packing. Before you hand these folks a dime, may I suggest some homework. Google “GW Equity Scam” and “GW Equity Complaints.” I found this link particularly interesting. Steve Cuno CommentsSteve Wed, 24 Mar 2010 13:40:06 Our experience with Generational Equity left us with a bitter taste. It felt like a bait and switch campaign, where they told us they could sell our business for tremendous amount of money, when it turned out that they only wanted their fee in exchange for a mediocre business plan. Classic bait and switch. Been There Tue, 06 Apr 2010 12:45:07 Been there, done that. You would do just as well putting your business on Craigslist. Everything is exaggerated. They lead you to believe it's a large firm with buyers waiting with cash. Anyone that can dial a phone from day one is a "Senior Business Advisor." When they call you, don’t believe they’ve done any research on your company, your industry, or even your geographic area. The only thing they know is your SIC code and phone number. Tue, 25 May 2010 13:34:46 i did attend one of their seminars and yes it was intoxicating as one other responder has commented. what is their current situation and any positive news on their front? Steve Cuno Tue, 25 May 2010 13:50:03 I haven’t heard from or about them since I wrote the above blog entry. How about it, readers? Any news? Fri, 04 Jun 2010 22:06:14 I attended their Atlanta seminar this week. Intoxicating is a good word to describe my feeling. I sobered up today when I met with an independent M&A attorney and tonite when I starting googling Generational Equity. No hangover. john speelman Thu, 29 Jul 2010 11:54:22 i also attended one of these metings,all they want is a 32,500.00 deposit...i was told by edward g weber.if he came out and liked what he saw ...would i pay him the fee ...i guess there are people out there that have no idea ...they are good telling you what you like to hear...please be wise about selling your hard earned business...if it is too good to be true....... Generational Equity? Scam artists Mon, 02 Aug 2010 07:49:42 They got me for $32,000 and gave me a offering memorandum and financial staement after I supplied them all the info. It took them 6 months to get it together. I could have saved my money and did the same with any business software. It took them two years to do absolutely nothing. They are CON artists don't give them a dime. Caveat emptor. Your comment will be posted after it is approved. Leave a Reply |       Click here to read Steve Cuno's column in Deliver Magazine   ArchivesSeptember 2010 Looking for older posts? CLICK HERE.
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