Six Figure Stamp Club is one of the more recent network marketing companies to show up on the scene. We will be looking into whether it something you want to do, or whether it’s a scam that you need to stay away from.
Six Figure Stamp Club Review Summary
Six Figure Stamp Club is a program where you supposedly make money by sending letters. There is no retail products or services that you buy from the company. In order to make money, you have to be an affiliate and promote the membership to other people. The truth behind it all is that it’s a pyramid scheme where you refer people onto the program and then hope that they send you money. It is a ponzi scheme and not worth investing money in it. There are better ways of making money online. To find out how I make my full-time income online, check out My #1 Recommendation.
What Is Six Figure Stamp Club
You must certainly be asking yourself how this thing works based on how it’s named. Somehow you should be making money in the 6 figure range using stamps.
According to their official website:
“Six Figure Stamp Club is a direct mail membership program that allows you to make money simply by referring people to the membership program by mailing letters.”
Their description actually sums it up quite handily. They way that you are meant to make money there is by getting people to join up by sending them letters through the mail. At face value that doesn’t seem like anything particularly special or promising, so let’s look at how exactly it works.
The official website doesn’t have any information on who runs the company or who owns it. The domain was privately registered on the 9th of November 2018, with a PO Box address in Columbus Ohio listed as the corporate address.
How Six Figure Stamp Club Works
The program works through a cash gifting or donation model that is spread out across 4 tiers.
Once you have signed up, you get given a number of leads that is dependent on which tier membership you have chosen to join. For the Red Level which is the $50 entry level, you get 100 leads. At the Blue Level you get 200 leads, and at the Black Level you get 300 leads. The highest amount is for the Pearl Level, which costs $1000 to join, and the amount of the leads there is 1000.
The first thing you have to do at the start is send money and a package of stamps to 3 addresses.
The Costs Involved
So using the Red Level as an example, to become a member, you have to first send $50 and a book of stamps to your first sponsor. After that you have to send $20 and a book of stamps to a second sponsor. Lastly, you must make a payment of $10 and send stamps to the PO Box address of the company.
So just to get started, you are out more than $80.
The model is the same across the higher levels as well, which require significantly larger donations.
For the blue level you have to make total donations of $210. The Black Level requires you to spend more than $440, and on the Pearl level you must spend a whopping $1700.
Once you have made the donations required for the membership, you will get a welcome kit and the leads that you will send letters to.
So How Do You Make Money?
In order to make money, you must now convince other people to do the same thing that you had to do to become a member.
You must send letters to those leads that you receive, informing them of the club and then hoping that they sign up. If the lead signs up, they have to make cash donations to 3 people, to you (their sponsor) another sponsor, and to the post box address that belongs to Six Figure Stamp Club.
The leads can be sold off, and as a paid member of the club, you are also qualified as a reseller.
What I think about Six Figure Stamp Club
The first thing I look for when considering if something is worth investing in is to check whether there is a product or service that has some value. Six Figure Stamp Club has no product.
What do I mean by there is no product? If Six Figure Stamp Club stops working, what do you have left? Nothing. I like to compare it to other companies that offer MLM, for example, Tupperware or Herbalife. Even though you make more money by recruiting, if the company stops operating, you still have a product that you can use yourself or sell to somebody else.
The way schemes like this work is that whoever dupes someone else into signing up gets a cut of money from people who join up later on. But the newest people usually don’t make any money, and they finance the scheme until nobody else is joining up and the whole thing comes to a stop.
There are also various red flags about the company that immediately made me suspicious about its legitimacy.
Owner is not known – A lot of the information surrounding the company is vague. The official address is a Post Office box. This means there is no physical business and that you have no recourse to follow if you have issued or need to follow up.
The company was registered recently – while this is not evidence of a company being fraudulent, you should always proceed with caution when a company does not have a track record and do further research before committing to it.
No product to show – There is not product or service of value on offer with Six Figure Stamp Club. This means that if you don’t refer people you do not make any money, so from the outset you lose money and hope to make some later on.
Paying without getting anything in return – Cash Gifting or donation. Those are two words you don’t want to hear when you are looking to make money through your business.
None -I can’t think of anything positive about this program. Some programs might be sketchy but teach something or have some sort of product. This one has no value except for promises.
There is no trial period or a free membership that you can use to try things out. If there is no product, there should be a trial membership to allow you to assess the value first.
Direct mail is a grossly outdated way of conducting business in this day and age. The fact that you are on the internet right now looking for a way to make money proves that point. This means that your potential audience becomes much smaller, and here aren’t good long term prospects for a business strategy that relies on a system that is steadily being phased out due to technology. Think about it: When was the last time you sent a letter by post or even bought stamps? I don’t even remember when last but I certainly haven’t bought a stamp in the last 10 years.
If you follow the Better Business Bureau (they give Six Figure Stamp Club rating of F and label it as a ponzi scheme. Some of the offenses that lead to the rating include members being cheated out of monies and the company not responding to complaints.
Is Affiliate Stamp Club A Scam?
Six Figure Stamp Club is a classic ponzi scheme.
I have encountered pyramid schemes with elaborate structures before that make it complex to hide the fact that they are pyramid schemes. This one over here does not even try to present anything of value. New affiliates join, invest money and the money is used to pay the existing members.
You join, give people money and then convince other people to join and give you money.
As with other ponzi schemes, the late comers give money to those who got in first. And when there are no more newcomers to donate money, the scheme will collapse. This type of business does not last long and when it eventually comes to an end, the owners create the same thing with a different name and repeat the cycle again.
My recommendation is to stay away from this Six Figure Stamp Club.
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