Complaint Review: Banx Management

The Truth About Banx Management

There is no doubt that if you’re reading this you have seen one of their facebook ads promising you amazing results if they work for you.

This is going to be a long post so read on if you like.. If you want the short version.. Pay your lawyer in advance because you are going to need them.  They are a complete and utter scam. 

As I am writing this I have just sent them a termination letter from my attorney.  Now why did I need to do that?  Well, I made three requests for a refund inside the given time allowed by their team and they never responded.  To make things worse they blocked my email address.  

Yes, I sent them $25,000 for their “Licensee Program” + “Done For You Services”.

I will admit there were a ton of red flags with this program (so many they could start a red flag company.. Well if they did they would likely ship green flags or no flags based on my experience).

I also bought their “Model Placement” service but we’ll talk about that later (it’s a fun one)!

So you might be thinking, if there were so many ‘red flags’ why in the hell did you send them money? 

Great question!

This is a brilliant business model.. Here is the crazy part.

If Micheal and Fletcher actually delivered on what they said, didn’t lie so much in their marketing, and didn’t employ a snake oil sales rep (Joshua), this really could be something.  They try so hard to sell the dream they totally miss having a legit business. 

Where did it all go wrong?

In reality before I even paid.  Their accountant (Brooke) sent me the wrong banking info 3x’s.  Then Josh sent me totally different banking info.  I did pause here.  I was nervous but I still wanted to get into this business.

Then I looked Brooke up online.  I found her LinkedIn and it said she did accounting for cleaning companies and that she was looking for new clients (ready to work… you’ve seen those banners).  Then I noticed that her picture was also on the Banx Website giving a review about her $30,000 a month agency (using a different name)... 

Again.. Why in the hell did you send them money after noticing this… again the business model is solid.

Here are a few things you likely saw in their Facebook Marketing

“I want to place your first model in 48 hours”
“use our calculator to see how you can add 90 models in 90 days”

“I guarantee this will work or I will give you your money back”

BS.. BS.. Total BS.. 

I paid extra for the done for you service thinking this will help me get started faster and as they said.. They’ll do all the work.. 

Wow.. what a mess.  They throw you into a training portal with 100’s of videos and then give you a Sr Account Manager who you can tell hates her job and wants nothing to do with you (Courtney - oh and she has an agency doing $20,000 a month as well). 

Now I did meet two great people who are part of their team.  I won’t give their names.  

After sending the $25,000 what did I have to spend?

First week I spent around $8000 on a website, videos, images, scripts, tools.. All kinds of stuff.  I wasn’t ready for that but I’ve been in business long enough to know you have to spend to make.

Here is a fun one, they will tell you that you’ll need about $2000 a month in staff (after the sales process of course).  In reality my payroll was $4500 a WEEK or almost $20,000 per month by the end of week 1.  

What are they supposed to do in the done for you package? Well, they say EVERYTHING..

Hire your staff.. Nope, I did it
Build your website.. Nope, you have to pay someone else
Setup your marketing.. Nope, you pay 3 people and then end up having to post it yourself
Onboard your first model.. Note, still going to talk about that later (3 weeks in ZERO models)

Their staff told me I was the “fastest they had ever seen” in getting everything setup.  As a note I have started and sold three marketing agencies so I know the space.  I also and the head of a venture fund so we had a shell company with bank accounts already in place on day one.  If you don’t have all of this in place.. Add a couple more weeks for incorporation and banking setup.

Back to the refund request.  On day two I could already tell this wasn’t going to work out.  All of their team is in Australia and I’m in the states.  No one was online when I was.  They kept trying to get me to schedule calls in the middle of the night.

So I pay you $25,000 and then I am supposed to give you 30% of my income and you can’t even be online at the same time as me?  This is where I was done.  I instantly asked for a refund from both Michael, Fletcher, and Josh.  None of them responded.

I would later get on a call with Brooke and ask for a refund and she said she would take care of it.. Never heard from her again.

I pushed forward because I was committed to starting the business.

I thought if I can at least get the 10 models I paid for..

You saw the add.. You can pay extra $2000 to $4000 to have a model “placed” in your agency.  Based on the numbers they talk about in their marketing where each mode will make $10k+ per month.. The math makes this a no brainer.

I have screenshots from WhatsApp from Josh telling me the first model would be placed in 7 days and all 10 in 14.  At day 21.. I had.. Guess it.. Zero

Here is the super fun part.  They don’t “place” anyone.  They are selling you a raw lead from their website. 

They’ve never talked to the models. They don’t help onboard them.  They send you the lead and you’re supposed to pay them $2000 (discounted from $4000 btw).. 

Note - you can generate the same leads on your own for around $50.

Again, if they actually cultivated the model and placed them in your agency it would be a great product.  They aren’t interested in your success.  They just want to get as much money as possible out of you.

I can go into so much detail about all the red flags, lies, and broken promises.

But in reality if you were looking for an answer to “Should I do it”, I really hope you have your answer.

None of the information  contained in this post violates any privacy or non-disclosure agreements.  All agreements were terminated under Australian law.