Is it a scam when people ask for money to be paid upfront for a business?
- IsabelLv 41 month ago
Often it’s not.
- Elaine MLv 71 month ago
No, many industries use the up front payment to purchase the specific items for doing the job.
- Anonymous1 month ago
If I was selling my business, I would only sell it for cash upfront. Does not make it a scam. Many large businesses are sold with cash upfront. (Or shares)
Many scammers are from 3rd world countries. If your only communication is by email, assume its a scam.
- JohnLv 71 month ago
Your language says that you are buying a business. If you mean otherwise then you should say otherwise. You buy a business just like you buy a loaf of bread - you pay for it. Most times arrangements about financing will be made. Unless the original owner is offering financing then you do that yourself, and the owner gets his before the business becomes yours. Just like a loaf of bread. After you buy it you get to eat it.
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- TavyLv 71 month ago
Depends what it is. Builders ask for money to buy materials.
- Brian McilweeLv 51 month ago
Unless, of course you are purchasing an existing business. If I were buying a pizza shop, I'd have to pay the owner for it before they gave me the keys and the rights to profit. That means I'd probably have to take out a business loan and pay that off in 10 years.
- better_off_hereLv 71 month ago
Yes it is usually. You get paid after you do the job no one gets paid before they do a job