Chickie-woo
Junior Member
What is the name of your state? Arizona
We had "financial advisor" offer to do a business plan for us. At first when we asked how much it would cost he said he would only need to be paid by getting a finder's fee from the grants we would be applying for. After about 8 months he presented us with a rough draft that included no financials and a bill for $1100.00. We had provided him with absolutely all info he would need to do the plan and we supplied him with the program to write it, which we found odd of him to even request. He said he knew we were just starting and to pay him when we could. We had doubts about why he had billed us and when asked he said he had incurred costs by consulting with attorneys and other professionals. We found that satisfactory and continued on. There were several changes we needed and asked him to do, including typos, mis-information and the location had changed as well. Finally about 18 months from first meeting with him, he presented us and our future landlord with the finished plan with another bill for an additional $600.00. We were shocked when we read it. No changes were made, there were things added that we never dicussed and were outright wrong. Our financials were not near what the numbers were that I gave him, not to mention incorrect. There no start-up costs mentioned. The location was still the old location, in another town. The grammer looked as if my 12 year old wrote it. Am I obligated to pay him for a plan that is of no use to me? I certainly cannot give it to any future investors in it's "finished" form. It's not worth the paper it was printed on. It looked nothing like the sample plan he gave us in the beginning that he claimed to have written. Not to mention the year and a half we've wasted waiting for him to finish. What are my options?
We had "financial advisor" offer to do a business plan for us. At first when we asked how much it would cost he said he would only need to be paid by getting a finder's fee from the grants we would be applying for. After about 8 months he presented us with a rough draft that included no financials and a bill for $1100.00. We had provided him with absolutely all info he would need to do the plan and we supplied him with the program to write it, which we found odd of him to even request. He said he knew we were just starting and to pay him when we could. We had doubts about why he had billed us and when asked he said he had incurred costs by consulting with attorneys and other professionals. We found that satisfactory and continued on. There were several changes we needed and asked him to do, including typos, mis-information and the location had changed as well. Finally about 18 months from first meeting with him, he presented us and our future landlord with the finished plan with another bill for an additional $600.00. We were shocked when we read it. No changes were made, there were things added that we never dicussed and were outright wrong. Our financials were not near what the numbers were that I gave him, not to mention incorrect. There no start-up costs mentioned. The location was still the old location, in another town. The grammer looked as if my 12 year old wrote it. Am I obligated to pay him for a plan that is of no use to me? I certainly cannot give it to any future investors in it's "finished" form. It's not worth the paper it was printed on. It looked nothing like the sample plan he gave us in the beginning that he claimed to have written. Not to mention the year and a half we've wasted waiting for him to finish. What are my options?