They look to buy these now floundering businesses at significant discounts to their true value.There are people here in BiggerPockets who look to do the same in real estate by buying properties at estate sales, etc.Believe it or not, it does make *sense* to have discussions with a "competitor" about a mutual *business purchase* agreement should that unthinkable event occur.

I've kept this to myself for a while, simply because I didn't want too many competitors in my area.

The first thing people do nowadays is look you up and your competitors online.

For example, when posting on Craigslist, you can be the most honest person conducting ethical business practices like wholesaling, but as soon as a competitor sees your add and realizes that you're in the market too all they have to do is flag your post then it will be taken down.

We then go to the store and can often get additional money off due to past purchase costs, competitor prices or in store specials.

At the end of the process, you'll be rewarded with access to the holy grail of real estate information your competitors won't have.Good luck

Your competitors often times can be your best partners....

We can be competitors, or partners, depending on the deal.

That put Madoff as a competitor of the government, and he was more successful.

I am not questioning for a moment that it works for you, but that philosophy does not work for the guy sitting in Manhattan or San Francisco.If you research my properties, you will be hard pressed to find very many of my competitors who can touch our projects in price point and quality.