No Char I am not a customer, as I stated much earlier, I just found out about this program a couple of days ago, did a google search, found this forum, then decided to start doing my own investigating.
As far as how other marketers market the product, I wouldn't be responsible for that, I am stating how "I" would do it.
If I approached other marketers, I would lead with the opportunity, when out in the field speaking to the general public, I would lead with the coverage, if they decided to be a rep later, great, they are already a customer.
Maybe the company has already, or if not, could start requiring a mandatory number of retail customers in the reps pipeline in order to be in compliance or they will be forced inactive.
That's something else I will bring to their attention
Just curious, are any of you working a program? And if so, which one?
Thank you for answering. Some food for thought:
You are thinking like an upline without realizing you'll be a downline. Therefore why would any of your downline think differently than you? See how that works?
When it comes to MLM, people get confused and wrapped up in the product and forget that it's firstly a system - A system where over 97% lose money.
No, I'm not working a program now that I know the truth about how this system works.
If you join, you realize that you will be a customer. That's how the company is getting customers. And remember, you are not the company.
Both writers do competent work and I have a lot of respect for what they put together. Enough red flags for me, especially considering the history of Jay Tuerk and Yoni Ashurov. I would encourage you or anyone else to go back and review some of the work Glimdropper has done on this site. Or OZ on his site, you will find they are pretty spot on. One of my favorite threads http://www.realscam.com/f12/dinar-gu...nar-dodos-846/. As you say, no one has been scammed YET, but have these folks spotted "ROACHES" in the past? A (MLM) Skeptic: Scam Detector: What is "Cockroach Theory", and how does it apply to suspect schemes?
That MYR is being promoted here is another huge red flag that this is not a business but a money game.
As Char and others have pointed out MYR is being promoted with an MLM wrapper that means between 95%-99% of representatives WILL LOSE MONEY. This is a statistical certainty not some pie eyed opinion. 1% will make what I consider real money and 4% a little, hardly enough for the time and risk in my opinion. Participants would be better doing just about anything else to put cash in their pockets than this or any other MLM.
That also assumes this MLM stays in business or is not shut down by regulators. MLMs come and go or Jay and Yoni would be living off residuals from their last great venture, along with all the other serial promoters.
I am going to pinch this from OZ and ask 1 simple question. WHO THE HELL IS GOING TO GO DOOR TO DOOR SELLING FOR A $26 COMMISSION? Are you planning on selling your friends and family 500 plans a month? At best something like this would need to be set up in a call center and handled from a central location. Sorry that was two questions and loaded with opinion.
Customer Acquisition Bonus
Warranty Rewards affiliates are paid a monthly Customer Acquisition Bonus per customer of the warranty protection subscription they bring into the business. This includes their own purchase, a purchase by a recruited affiliate and a purchase made by a retail customer.
Senior Director – $1 per customer
Area Director – $2 per customer
Regional Director – $3.50 per customer
National Director – $6 per customer
The short of it? Retail incentive is lacking.
I can bring a retail customer into the business, get paid my $20 and $1 a month Customer Acquisition Bonus, and then that’s it.
Recruit an affiliate though and I get the above plus matrix commissions and accompanying 25% Matching Matrix Bonus.
Given this, I find it highly probable that Warranty Rewards affiliates are going to ditch retail and focus exclusively on affiliate recruitment.
"It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff https://www.facebook.com/pages/Scam-...98399986981403
Well it's been such a joy guys, and thank you for your input.
FYI, the owners that you claim try and hide have videos where they are speaking to rooms full of newly signed reps as well as others thinking of joining.
I saw a few on youtube, I guess this program is kind of going back to the old school, Amway, Pre-Paid Legal style of promoting, hotel conference rooms, convention center type of method it appears.
None the less, I have taken what's been said here, and I will use that in making my decision.
Now keep in mind, Affiliates will also be members of the service, because I highly doubt anyone would sell it and not own it, it's probably not even allowed.
You are allowed to just sell the product itself, but not recruit.
I asked, and they confirmed this.
Now as far as the retail side of things, i noticed you posted the comp plan, for retail, and to be quite honest with you once you have reached National Director, $6.00 per customer residual is not that bad, a mere 1k worth of customers under your belt and that's good passive income, and that's very very doable, I've done that and more in the past with another program.
Now with that being said, door to door, sure, that actually can work, "if" you go at it hard and do it the right way. Myself i would simply just play the numbers, and not knock and hold conversations. I'd leave something catchy, showing what we offer, if interested give me a call or go to my website, the demand is there enough, you would get reaction for sure.
I'm not scared of the field, nor the phone.
Of course there are numerous other ways to market this the smart efficient way, but those i'll leave secret in case i decide to join.
What you said is true, only a small percentage actually earn in MLM programs.
But here's the thing, is it the programs fault? Or the lazy marketers that sign up and sit, sign up and cry, were told no 3 times so they gave up....
Keep bouncing around program to program looking for the "Magic ATM button" program where you just pay $200, wake up the next morning and $20k is in your account.
So where is the true scam, the program? I mean if they pay out commissions as stated, service the merchandise as agreed, then exactly how are they doing anything wrong?
Or is the true scam people jumping from program to program, not working them, crying, complaining, waiting on the MLM fairy to drop them 1 million into their lap, then later they quit then cry "scam" all over the internet.
Who knows, life goes on i guess.
Well thank you for the input, it's been fun and keep up the good fight!
Well it's been such a joy guys, and thank you for your input.
I hope this does not mean you are leaving, your presence has opened up several more questions, and us was hoping to utilize your connection to sort them out.
Jay Tuerk's bio indicates he founded and lead two other warranty companies, can you find which ones, and what happened to them?
====================
Second, what due diligence have you done on requirements by states to sell warranties? Especially selling on the web which presumably would cross state lines.
Florida
A service warranty association providing or offering service warranties to residents of this state must be licensed by the Office of Insurance Regulation (OIR). A service warranty association located in Florida is exempt from the licensing requirements as long as the service warranties are only sold and marketed to nonresidents of this state. However, there are certain reporting requirements to the OIR. For a complete review of these requirements, please review Section 634.403, Florida Statutes.
An insurance company authorized to issue property and casualty insurance in this state may issue service warranties without additional qualifications or authorization but must adhere to the specific service warranty statutes. Service Warranty Overview
I don't know due to their affiliation with Dealers Assurance which appears to be an insurance product what is required, but as of today I did not get a hit for Matrix.
This reads like the person in charge of the office can be licensed http://www.myfloridacfo.com/Agents/L.../docs/2-52.htm for selling at multiple locations. What is not as clear is if this extends to independent contractors versus employees. I did not dig much on this last thought, but thought you might have some insight from one of your calls to MYR.
Last edited by ribshaw; 08-18-2014 at 10:10 AM.
"It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff https://www.facebook.com/pages/Scam-...98399986981403
"It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff https://www.facebook.com/pages/Scam-...98399986981403
I have been trying to track down a few of these "success stories" without much luck. Am hoping Century can come thorough.
"It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff https://www.facebook.com/pages/Scam-...98399986981403
Interesting that the company is a Nevada Domestic Corporation that was filed on February 6, 2006, but the domain name was not registered until 2009, and the program was not launched until late 2013. Just some more questions for you to ask when you contact the company Centry352. You might also want Jay to provide you the information on all the industry accolades he has received (according to his bio). Rather odd that he did not name them don't you think?
I would appreciate your telling me what information I got wrong when you replied to my post. Thanks.
EagleOne
Author: "Robbing You With A Keyboard Instead Of A Gun - Cyber Crime How They Do It" available in soft cover and eBook at Amazon.com
I have been researching this company for a non-profit that was approached by a sales guy under the guise of selling these warranties as a fundraiser.
The sales pitch was weak to me, he was unable to directly answer concerns we had regarding their website, their status, their squeaky clean history (no reviews, not even positive) and it left me with many more questions.
Found this forum as part of my research and I can honestly say that many of the red flags raised here were in my initial observations.
1) website is done in a typical scam/ get quick rich format
2) images to service centers aren't linked, contact info is vague, no true "about us", one has to sign up and provide credit info in order to find out if their product is even eligible.
3) terms of the warranty seem to leave way too much room for claims to be declined
4) pricey with no real value/ return
5) facebook page has 1800+ likes, but only an average of 2-3 likes and no shares per post, also no availability to post a review to their page
6) youtube videos: the user accounts that post these videos are highly questionable, some have "advice" on how to make money on other schemes or how to maximize/ increase page likes while fishing for email addresses without their consent (whoa!)
7) no reviews anywhere. sure, negative feedback can be damaging, but not even a single positive feedback? SCAM
8) they offered a cut for the non-profit that was the same as the Retail Customer Acquisition Bonus, which surely is not a true "donation" by the company
9) big numbers are thrown out during the presentation, no resources.
10) warranties are already available at checkout, how many people who previously declined these warranties, would no be willing to pay $30 a month to cover their previous purchases.
11) accidental damage is not covered but can be purchases as an add-on
Please, someone prove me wrong on all of these red flags!
I have been researching this company for a non-profit that was approached by a sales guy under the guise of selling these warranties as a fundraiser.
The sales pitch was weak to me, he was unable to directly answer concerns we had regarding their website, their status, their squeaky clean history (no reviews, not even positive) and it left me with many more questions.
Found this forum as part of my research and I can honestly say that many of the red flags raised here were in my initial observations.
1) website is done in a typical scam/ get quick rich format
2) images to service centers aren't linked, contact info is vague, no true "about us", one has to sign up and provide credit info in order to find out if their product is even eligible.
3) terms of the warranty seem to leave way too much room for claims to be declined
4) pricey with no real value/ return
5) facebook page has 1800+ likes, but only an average of 2-3 likes and no shares per post, also no availability to post a review to their page
6) youtube videos: the user accounts that post these videos are highly questionable, some have "advice" on how to make money on other schemes or how to maximize/ increase page likes while fishing for email addresses without their consent (whoa!)
7) no reviews anywhere. sure, negative feedback can be damaging, but not even a single positive feedback? SCAM
8) they offered a cut for the non-profit that was the same as the Retail Customer Acquisition Bonus, which surely is not a true "donation" by the company
9) big numbers are thrown out during the presentation, no resources.
10) warranties are already available at checkout, how many people who previously declined these warranties, would no be willing to pay $30 a month to cover their previous purchases.
11) accidental damage is not covered but can be purchases as an add-on
Please, someone prove me wrong on all of these red flags!
Welcome to RS and appreciate your input into this discussion. You have definitely given Centry352 some more issues to ask the admin since he is the lone voice of support for the program.
I hope that you will continue to provide your insights and questions.
EagleOne
Author: "Robbing You With A Keyboard Instead Of A Gun - Cyber Crime How They Do It" available in soft cover and eBook at Amazon.com
I have been researching this company for a non-profit that was approached by a sales guy under the guise of selling these warranties as a fundraiser.
Again welcome to the thread, look forward to see any future findings.
You are probably much safer to pursue coupon books or boxes of chocolate than associating any not for profit's name to this. My opinion of course. There is some discussion that the magical energy saving device that Jay Tuerk was peddling last year was nothing more than a washing machine capacitor. Which would certainly explain its short lifespan, unless energy prices have suddenly plummeted and no one to me. It seems a tenuous leap from that back to warranties.
There are a few connect the dots I have asked Soapboxmom (site admin) for some help tracking down, however if you are doing some due diligence these may be of interest. What Jay Tuerk's involvement was I can't say at this time, other than being named as a defendant. Before I put a business at risk peddling warranties, I would make myself crystal clear.
Some 137,000 people across the United States and Canada -- including more than 11,000 Minnesotans such as Lashbrook -- may be holding worthless car warranties from Ultimate Warranty Corp. The Ohio-based company has all but disappeared, leaving $15,000 in a loss fund to cover an expected $48 million in claims, according to South Carolina regulators who are investigating the company.
Prior to going out of business, Ultimate reported a loss reserve fund of $48 million. But Perry says state investigators found less than $15 million in the fund and more than $67 million in potential claims liability.
The only outcome I can see with MYR/MP is an inevitable bankruptcy, just a question of when. Most warranties are not only priced much higher, they generally limit the term to five years-ish, and one product. There is a sound business reason for this, as in making money. Assuming the average home has $15,000 electronics with a finite life there is no way those can be repaired/replaced indefinitely for a $300 premium before the cash evaporates.
"It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff https://www.facebook.com/pages/Scam-...98399986981403
Is corporationwiki the same as wikipedia and fake press release sites where people can just make up whatever they want?
CorporationWiki is a public record scraper / repackager that collates information from public info websites and relists them in a somewhat friendlier form.
I have been researching this company for a non-profit
Frankly, i think the best way to raise funds is to print T-shirts, if you have a non-profit of a significant size (if not, get couple different ones together and print a co-branded t-shirt). I've seen print shops that'll do T-shirts as low as 2.50 for 4 color prints (enough for even intricate art) if you order like 1000. Then you sell them at $10 or $15 each, and put up a new design every X months. Borrow a good artist (staff part-time, team-design, or go to local art college and ask for a volunteer design, they'll probably have a sort of "contest" where you're the guest judge as one of the assignments)
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Originally Posted by Centry352
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