1/5 -- Extremely Disappointing Business Experience…read more
I am leaving this review based solely on my personal experience dealing directly with BrainVyne and its CEO regarding a significant business transaction.
After speaking directly with the CEO, I paid approximately $20,000 in connection with what was presented and discussed with me as the purchase of the business as she was closing it. This was not a small purchase, a camp registration, or a minor transaction. It was a substantial financial commitment made based on our discussions and my understanding of what I was purchasing and what would be transferred to me.
I moved forward in good faith and made the payment with the expectation that the business assets, materials, information, and other agreed-upon items associated with the transaction would be provided and transferred as discussed.
What happened afterward has been extremely concerning and disappointing.
Within approximately a week of making the payment, communication deteriorated significantly. Instead of receiving the materials and items I understood I had paid for and completing the transition of the business, I experienced a lack of communication and was eventually blocked.
For a transaction involving approximately $20,000, I found this extremely troubling. I expected professional communication and a clear process for completing the transfer--not suddenly being unable to communicate with the person with whom I had made the transaction.
Communication later resumed by text. At that point, I was told that she was refusing to send over what I had paid for because she did not believe it was a "good fit."
That response was especially concerning to me because the payment had already been made.
In my view, deciding after accepting approximately $20,000 that someone is no longer a "good fit" does not address what happens to the money already paid or the items, assets, materials, and information that were supposed to be provided as part of the transaction.
If there was a concern about whether I was the right person to take over the business, I believe that conversation should have taken place BEFORE accepting such a substantial payment.
I also believe that once a significant business transaction has taken place, both parties should communicate professionally and honor the written terms and obligations of their agreement. If there is a disagreement, it should be addressed directly and professionally rather than communication simply stopping.
This entire experience has left me extremely disappointed.
I entered into this transaction believing I was purchasing a business from someone who represented that she was closing it. I relied on those discussions when deciding to move forward with a significant financial commitment.
Instead, within a very short period after payment, I found myself dealing with communication problems, being blocked, not receiving what I understood I had purchased, and ultimately being told that the other party did not believe the arrangement was a "good fit."
Approximately $20,000 is a substantial amount of money. Anyone considering purchasing a business, program, curriculum, licensing rights, equipment, intellectual property, customer information, or other assets from this company should carefully document exactly what is being purchased and when each item must be transferred.
Based on my experience, I strongly recommend having every aspect of a transaction clearly documented in writing before making payment, including:
* Exactly what assets and materials are included
* Ownership and transfer of curriculum and program materials
* Equipment and inventory being transferred
* Websites, domains, social media accounts, and other digital assets
* Customer or business records that can legally be transferred
* Intellectual property and licensing rights
* Training and transition assistance
* Deadlines for transferring each item
* What happens if either party does not complete the agreement
* Refund provisions
* Written confirmation of all payments
I wish my experience had been different. I entered this transaction prepared to move forward with the business and made a substantial payment based on what had been represented and discussed with me.
Instead, I am now dealing with a dispute over a transaction of approximately $20,000 and items I understood I had already paid to receive.
Based on my personal experience with how this transaction and the subsequent communication were handled, I cannot recommend doing business with BrainVyne.