Is 7k Metals a Scam?[Legit MLM Or Waste of TIME?]
Hi and welcome to my 7K Metals review. Have you ever wanted to invest in gold and silver, but did not do it, because you were not sure how to get started?
You may be considering joining the 7K Metals company. Is 7K Metals a scam, or is it worth your time?
What exactly do you need to become successful with the 7K Metals MLM? Most importantly, is it the right business opportunity for You?
There are so many ways to make money online. Sometimes it can become overwhelming and frustrating to choose the 'right' ones from the 'not-so- nice' ones.
You get those business ventures, that will have you working for long hours only to payout a few measly cents. Then you get those that are downright scams, that take all your hard money, and leave you with nothing.
It is my hope that this review will help you to make an informed decision on 7K Metals.
Before we go on, you may be interested in checking out the main method that I have been using for over 4 years to make money online.
WHAT IS 7K METALS ALL ABOUT?
The company offers its members the opportunity to buy gold and silver pieces.According to the founders, one of the main benefits of purchasing through them, is that you get the pieces at wholesale prices.
The company started back in 2016, with the mission to "improve the lives of people around the world."
They have seen that far too many people have had to struggle as the economy fluctuates and experience instability in the work environment, as well as other unexpected changes.
By making an investment in gold and silver, they believe that they can help people to create financial independence, preserve their wealth and live an exceptional life.
As for who the founders of the company are, not much info is available on the site.One of the co-founders goes by the name of Zach Davis.
In addition to providing one with education on what precious metals to invest in, or how to find a good deal, the company offers it's members an opportunity to build their own business.(More about that later on)
Let's take a look at their products in a bit more detail.
THE 7K METALS PRODUCTS-Unique or Not?
They have a pretty decent product portfolio that features:
- Silver and Gold Bars,
- Coins and Bullion,
- Collectible sets- movie and music based sets
- Jewelry pieces- rings, watches, and cuff links, and
- Official 7K metals merchandise.
Are you are getting these products at wholesale prices?
Are 7K Metals products really cheap?
I done some pricing around.
7K Metals Price : $14,968
Competitor Price : $15,035.80
If you were to purchase Credit Suisse 10 oz Gold Bar from 7K Metals, you will save yourself $67.80.
7K Metals price : $4,794.21
Competitor Price : $5,097.21
If you were to purchase the Perth 100 gram Gold Bar from 7K metals, you would save yourself $303.
Bottom line: As far as savings are concerned it all depends on the particular product that you intend to purchase.
As a member, you get access to exclusive products, and the opportunity to bag the Coin of the Month product.
Some of the interesting coins they have on offer, are the China Silver Pandas, which are one of the most popular silver coins in the world. These are China's legal tender and are issued by the People's Bank of China.
Then they have the Marvel Variety coins such as the Captain America coin. This is one of the coins that was issued through the companies Variety Coin of the Month program.
'Variety coin of the month,' and 'Coin of the Month,' are two of the three programs that members can join to have the latest and trending coins automatically delivered to their door.
The main idea behind their auto-ship program is ultimately to build your portfolio.
As part of their auto saver program, you can choose from one of three different options or all 3 options.
THE 7K METALS HEALTH PLAN-THE FIRST OF IT'S KIND
At the time of writing this post, 7K Metals is the first networking marketing company to offer health care to all of its members.
When you join as a member, you will have immediate access to the 7K Metals health plan.
Here are some of the benefits of their health plan :
- NO WAITING PERIOD
- COVERS PRESCRIPTION DRUGS
- COVERS MENTAL HEALTH
- COVERS DENTAL VISITS
- COVERS MATERNITY
- IT COVERS CO-PAYS
- NO AGE LIMIT
- NO PRE-EXISTING CONDITION EXCLUSIONS
Some of the major networks that the 7k Metals health covers are the Aetna network.
At the same time, as you share the 7K Metals business model with family and friends, you can earn yourself ongoing points and commissions.
Before we get into that, let's take a look at how much it will cost you to get started.
HOW CAN YOU JOIN THE 7K METALS MLM BUSINESS?
To become a 7K Metals associate, you have to meet some criteria.
They are as follows :
- You have to be 18 years or older to join,
- You have to reside in the United States or U.S. Territories or country that 7K Metals has officially announced is open for business,
- You have to have a valid social security number or Federal Tax number,
- You have to submit a properly completed Associate Application and Agreement to 7K Metals online.
After having met these criteria, you have to pay a compulsory enrollment fee. This fee is renewable on a yearly basis.
As an Independent 7K Metals Associate, you are also given your own 7K Metals replicated website.
According to company policy, you are not allowed to market 7K Metals via your own custom designed website. You have to use the replicated website for all of your promotions.
In addition, there is a $10 monthly charge for this replicated website.
How do you make money with 7K Metals?
THE 7K METALS COMPENSATION PLAN
Only once you have registered to become a 7K Associate, will you be granted to partake in the 7K Metals compensation plan.
Their compensation plan is not as complicated as other network marketing companies.
The first thing you have to do is to decide which membership option you are going to buy.
Let's say that you decide to go for the $249 annual membership option.
The commission that you earn is calculated based on the number of points that you earn, and NOT on the actual price of the 7K Metals products.
You earn points in 2 Ways :
- Memberships and Renewals - 100 points
- Coin of the Month Products Purchases - 20 points
In other words, if you get family and friends to join 7K Metals, you earn 100 points. If they renew their annual membership, you earn 100 points as well.
Then, if they were to register on the auto-ship program, and opt to buy the Coin of the Month, you get 20 points.
They also offer revenue sharing, should your team members join the 7K Metals health plan. On Family plans, you earn 20 points/month, and on individual plans you earn 10 points/month.
The 7K Metals pay structure operates on a binary leg system. The points are distributed on the right and left leg respectively.
Only once you and your team complete a cycle of 1000 points, 500 points on each leg, do you qualify to receive a commission.Each cycle of 500 points equals a $500 commission.
In fact, once you reach your first cycle, you get promoted to the first rank of the company, which is the Associate rank.
There are 5 ranks, and the amount of the commission you earn is dependent on your ranking status.
For instance, on the Associate rank, you can only make one cycle per week. That means you can make $500 per week.
Here is a summary of the various rank levels and the commission payouts per week.
- ASSOCIATE RANK : $500 per week (1 cycle/wk)
- COPPER RANK : $1000 per week (2 cycles/wk)
- BRONZE RANK : $2000 per week (4 cycles/wk)
- SILVER RANK : $3,500 per week (7 cycles/wk)
- GOLD RANK : $7,000 per week (14 cycles/wk)
It is also worth noting that, in order for you to become an active 7K Metals member, you need to have a minimum of 60 team points per month.
The other criteria are that you have to register for the Coin of the Month program or make one membership sale in a 45-day period.
Bottom Line: You can earn commissions by accruing points. The quickest way to earn points is to recruit more members to your downline. The more your downline grows and the more purchases your team makes, the more points you earn. That means more money for you.
WHAT I LIKE ABOUT 7K METALS
The products are unique compared to other MLM-businesses. I have reviewed many other MLM's such as The AIM Companies, Hempworx, Jewelry in Candles. Whilst they are focused on the traditional vitamins, health and jewelry niche, 7K Metals has a product line that I think is refreshing for a change.
I also think that it gives one the possibility of standing out from the crowd.
They have their own health care plan for its members.
You are buying an asset. Over time, depending on the piece that you buy, it can hold significant value. When you make a decision to buy, you are essentially investing in your future.
They are active on social media. They try to keep their members updated and informed on Facebook and Instagram. Mind you, I learned a thing or two from reading their posts.
They offer ongoing training for their members. Unfortunately, I could not get further details on this. Though it has to do with online associates and buyer certification training.
WHAT I DO NOT LIKE ABOUT 7K METALS
This is NOT a global business opportunity. According to the 7K Metals policies and procedures, you have to be a resident of the United States or Canada to join.
There is no Income Disclosure Report on their website. An Income Disclosure Statement(or IDS) can give new members an idea of the kind of income that existing 7K Metals associates earn.
However, even though this IDS is not readily available on their website, I learned that according to their policy, a "copy of the IDS must be presented to all prospective associates."
You have to be an active member at all times. Not only do you need to be an active member to earn commissions, overrides, and bonuses, but you also need to be an active member to avoid losing your membership status. If you fail to "personally generate at least twenty-five (25) PV for three (3) consecutive months," they can cancel your Associate agreement.
If you have not earned a commission for 6 months, they can cancel your associate agreement as well.
To earn the bigger paychecks, you need to recruit people to the business.
IS 7K METALS A SCAM? MY PERSONAL OPINION
7K Metals has a positive rating from the BBB(Better Business Bureau). People are happy in their dealings with the company. They also have a long- standing in the market.
In my opinion, I do not think that 7K Metals is a scam.
However, if you are on the fence on whether or not you should join, then consider these two issues.
ISSUE ONE : Are You Ready to Commit to Regular Monthly Payments?
To maintain active status, and to be eligible to earn commissions, you have to purchase gold and silver pieces on a regular basis.
Whilst this is attractive for future investment plans, your circumstances may be different. Make sure that you are ready to commit to these financial obligations.
ISSUE TWO: Are You The Recruiting Type?
If you like the recruiting business model, then 7K Metals could be for you.
It's not just about recruiting people. Many people fail to see, that it goes deeper than this.
You as their leader need to motivate your team, give them the inspiration and drive to go out and build their business.
If they are successful, then you are successful.
If these two issues, do not bother you, then give 7K Metals a go.
If on the other hand you don't have a steady budget or you are not quite fond of recruiting, it's not the end of the world.
Is there an alternate way to making money online?
Yes, there certainly is......
HOW CAN YOU MAKE MONEY WITHOUT RECRUITING? LET ME SHOW YOU....
I for one have tried the multi-level marketing business and did not fair very well.
I guess different strokes for different folks. If you do not enjoy recruiting, it's okay. If you do not like to bother people and invite them to your business, that is fine.
I enjoy doing a different business model called affiliate marketing.
It's different from network marketing. With affiliate marketing, you earn commissions for recommending other people's products or services via your website.
The benefit to starting an affiliate marketing business, is that you do not need any experience to start, and you do not need to recruit anyone to earn money.
Take a look at the other benefits you can enjoy from starting your own affiliate marketing business.
Thanks for joining me on this 7K Metals review.
I hope that it has helped you out.
If you have any questions or comments, just leave them below. I promise to get back to you.
Regards and Take Care