1 /5 Mike Phan: I want to share my experience with Universal Business Brokers, and I’ll preface this by saying: based on past reviews, I expect they will respond defensively rather than addressing the issues directly. That in itself says a lot about their approach to feedback.
I’ve enquired with them on two separate occasions. The first for an Anytime Fitness territory and the second for a Plus Fitness business for sale. Both times I ran into the exact same issues. Immediately I was asked for my driver’s licence and then a full statement of financial position, along with other sensitive details, before I was given even the most basic information about the business. In most professional brokerage processes you would sign a confidentiality agreement and then be provided with a high-level summary. In my case, I was never asked to sign an agreement at all.
At no point did this company disclose how my personal or financial information would be stored, safeguarded, or used. For a firm demanding such sensitive data, the lack of transparency was concerning. On top of that, when I asked reasonable questions about their process to simply to avoid going back and forth, I received no reply. Even after following up politely, I still got nothing.
Frustrated by this unprofessional conduct, I contacted the franchisor directly. In complete contrast, they were welcoming, transparent and provided all the information I needed straight away. I am now progressing with them instead.
Looking at other reviews, it’s obvious my experience isn’t unique. Many buyers have raised the same concerns: unnecessary demands for personal data, poor communication, and then defensive replies when challenged.
In summary, my dealings with Universal Business Brokers showed a lack of professionalism, transparency and basic courtesy. If you’re a buyer, proceed with extreme caution before handing over any personal or financial information.
