BBB Warning: Nichols Venture Group, LLC

  
     
August 03, 2017

DENVER, COLORADO — BBB is issuing a warning on Nichols Venture Group, LLC due to a pattern of unaddressed concerns from other businesses with which they have contracted for event services and promotional products.

Since November 2016, seven businesses have brought concerns regarding Nichols Venture Group to BBB, all of which allege that the company has not paid for contracted services or purchases. The contracted services in question include event photography and videography. Purchases include promotional products and materials for various events, as well as video production equipment.

Per the Colorado Secretary of State, Nichols Venture Group, LLC opened in July 2014 under the principal Douglas Nichols, but the business is currently listed as delinquent. Further, its listed business address appears to be the address for a charity organization located in a residential area. Previously, Mr. Nichols provided 3801 E Florida Ave, Ste 400 in Denver to BBB as his business address. However, according to landlord Premier Real Estate, the company was evicted on April 3, 2017. BBB has not been able to confirm a current business address for Nichols Venture Group, LLC.

The company’s website, nicholsventuregroup.net, no longer functions. In the past, the links to social media accounts on the website merely sent users back to the website’s homepage, rather than to any social media sites. In addition, the website listed the Florida Ave address, from which Nichols Venture Group was evicted in April, as a business address.

BBB first contacted Mr. Nichols in March of 2016 after issuing a “no rating” to his business profile. This action was due to concerns raised by Nichols’ business customers.

BBB has reached out to Mr. Nichols multiple times since January of 2017 in an effort to mitigate and resolve concerns or confirm an address for his business, but Mr. Nichols is unwilling to provide a current address and consistently requests BBB remove the Business’ Profile from bbb.org.

Mr. Nichols disputes the complaints against his company. On May 9, he wrote in an email to BBB, “These are civil issues I do plan to take to civil court, and shouldn’t be on my profile. [Two of the complainants] haven’t fulfilled our agreements and continue to demand payments.”

However, to date, the two businesses owners to most recently file complaints against Mr. Nichols both allege that Nichols Venture Group still owes them payment for contracted services. One of these complainants says he is currently attempting to serve Mr. Nichols, but that process servers cannot locate Mr. Nichols. The other complainant says he has not been able to procure payment from Mr. Nichols but cannot afford to take legal action.

In response to BBB’s request for a statement to include in this release, Mr. Nichols indicated opposition to releasing information to the public prior to official court rulings on the matters in question.

As BBB reminded Mr. Nichols, BBB is a nonprofit that reports on information provided by both consumers and businesses. BBB is not associated with federal, state, or local government, and is independent from the courts.

To view public customer reviews of Nichols Venture Group, LLC, visit the company’s BBB Business Profile.

BBB offers the following contract signing tips for consumers and businesses:

  • Before you invest, investigate. Remember that a contract, once signed, is a legally binding document. Before you sign anything, make sure you understand not only the contract, but the company that has written it. Ask for references, check with friends and family and check out the business’s BBB Business Review at bbb.org.
  • Don’t believe anything you hear…unless you see it in writing. Insist that all verbal promises are included in the contract.  Trying to prove what someone said, after the fact, is extremely difficult.  A contract can only cover what’s included, not what’s implied.
  • Read the fine print. The scope of a contract is usually written as “Terms and Conditions.” A lot of minute details can be buried in this section. It’s what’s covered, and more importantly, what’s not covered by the contract.  Take time to consider the “best case scenario” and the “worst case scenario” outlined in the contract.  If you can live with the latter, you’re in good shape.  If not, you might consider having an attorney look over the contract for you.  If that sounds worse than living with the “worst case scenario” reconsider the reason you’re signing the contract in the first place.
  • In a contract, everything should be completed before you sign.  Leave nothing out and leave nothing to the imagination. 
  • Get a copy of anything you sign. Keeping a copy of the contract allows you to look back on the agreement and check the details.  It’s also the only proof you have that you have an agreement.