- Report: #179561
Complaint Review: Primerica - Nationwide
-
Author Confirmed
Why?
Primerica
primerica.com Nationwide, U.S.A.
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Primerica This is MLM! if it walks like a duck, looks like a duck, and quacks like a duck. ripoff Nationwide*UPDATE: Primerica recognized by Rip-off Report a business opportunity well worth considering - it's not for everyone but many representatives make solid commission incomes. Primerica takes appropriate action against representatives conducting themselves improperly, pledges 100% commitment to customer service.
Boy, am I glad I decided to look up Primerica on the net. I have an appointment to go to an "interview" tomorrow night. I have been told "free training, they will set me up with my licenses, and put me in my own office". I am really glad I looked here-I now realize that this is MLM, however well it is disguised. Any "career" that depends on recruiting more people is MLM, no matter how you trick it up.
Years ago my wife and I got weaseled into going to an Amway "dinner" with a couple with whom we were aquainted, which turned out to be a recruitment gathering. Yeah, all the vacation homes, big cars, motorhomes, lavish lifestyles, we got shown...and it could all be ours. Unlike Primerica, though, Amway does actually make very good, if a little overpriced, products.
The problem with working for Primerica is the same as with Amway. What the hell do you do when everyone is recruited and selling?? If you get six downline, and they each get 6, that's 36 sellers, and then they each get 6, that's 216 sellers, and so on..x 6 x6 x6, etc.
Say it takes a month to recruit 6 sellers, in 6 months you would have 279,936 sellers downline from you. The problem arises(how soon depends on how big your city is) is saturation-the more sellers there are, the harder it is to find someone who is NOT selling the same thing you are. And each of your recruits, and all their recruits, are reducing the available pool of potential recruits. Your downline "recruits and recruits of their recruits" have all become your COMPETITORS for a dwindling market.
Which brings me to the main point, what happens when the market is saturated? IF, and only if, you got in at the beginning, you really would get rich before that happens. But for EACH level downline you go, you have less market to recruit from, as there are more and more people recruiting/selling. How far downline you are will determine how much you will have made when there are more sellers than buyers.
And THAT is precisely why pyramid schemes are illegal--ONLY the people/businesses who got in early are at the top of the pyramid, making the money off the people at the bottom. THE HIGHER YOU ARE ON THE PYRAMID, THE MORE YOU STAND TO MAKE WHEN THE MARKET WILL SUPPORT NO MORE RECRUITS/SELLERS.
Thanks to this site, Primerica can count me out!!
Older and wiser
Des Moines, Iowa
U.S.A.
Years ago my wife and I got weaseled into going to an Amway "dinner" with a couple with whom we were aquainted, which turned out to be a recruitment gathering. Yeah, all the vacation homes, big cars, motorhomes, lavish lifestyles, we got shown...and it could all be ours. Unlike Primerica, though, Amway does actually make very good, if a little overpriced, products.
The problem with working for Primerica is the same as with Amway. What the hell do you do when everyone is recruited and selling?? If you get six downline, and they each get 6, that's 36 sellers, and then they each get 6, that's 216 sellers, and so on..x 6 x6 x6, etc.
Say it takes a month to recruit 6 sellers, in 6 months you would have 279,936 sellers downline from you. The problem arises(how soon depends on how big your city is) is saturation-the more sellers there are, the harder it is to find someone who is NOT selling the same thing you are. And each of your recruits, and all their recruits, are reducing the available pool of potential recruits. Your downline "recruits and recruits of their recruits" have all become your COMPETITORS for a dwindling market.
Which brings me to the main point, what happens when the market is saturated? IF, and only if, you got in at the beginning, you really would get rich before that happens. But for EACH level downline you go, you have less market to recruit from, as there are more and more people recruiting/selling. How far downline you are will determine how much you will have made when there are more sellers than buyers.
And THAT is precisely why pyramid schemes are illegal--ONLY the people/businesses who got in early are at the top of the pyramid, making the money off the people at the bottom. THE HIGHER YOU ARE ON THE PYRAMID, THE MORE YOU STAND TO MAKE WHEN THE MARKET WILL SUPPORT NO MORE RECRUITS/SELLERS.
Thanks to this site, Primerica can count me out!!
Older and wiser
Des Moines, Iowa
U.S.A.
1 Updates & Rebuttals
Some
Na,Ontario,
Canada
they must wear bs coloured goggles too
#2Consumer Comment
Mon, March 13, 2006
I just want to say thanks for your comments. i did go to the recruiting scheme but never got suckered in. For more info read about it (from NA, ontario, Primerica Ripoff); it was amazing the bs i was fed that had me reeling. I was told my education would be covered, and the recruiter even made it sound like a recognized securities course. I wasn't actually interviewed; I was just asked for my 212 bucks (prices are going up a little it seems). The whole hiring process screamed pyramid scheme so badly i declined. amazing what bs coloured goggles people are willing to wear while working for Primerica.
