The Internet is an essential element of our everyday life. We receive, more often than ever, information regarding new business opportunities. One of these opportunities is My Shopping Genie business. In this article we will investigate whether this opportunity is a scam or not.
Before we can give our verdict, we should be familiar with what My Shopping Genie actually is. The product they launched on the market is a software application, a FREE internet-based app that compares prices for you. This free app allows consumers to find offers at over 200,000 stores, liquidators and product manufacturers, together with over 1,000,000 coupons and special deals.
As soon as My Shopping Genie is installed, locating fantastic deals will be as easy as exploring the Internet. Every search turns on the Genie which brings down the huge Internet overload, usually found while searching. Shopping Genie offers the consumer a summary of the finest prices from major online vendors, shopping engines, auction and free offer sites including Amazon, eBay, Walmart, Google Products, Bizrate, Shopping.com and Ask.com’s million-plus coupon engine.
The corporation behind My Shopping Genie is MyNet Universe, a private held company, co-founded by Sam Mendez, David Freed, Ed Muto, Steve O’Brian and Keith Smith in 2008. The software developer of My Shopping Genie is Randy Blade.
A further significant point is to get a comprehension of the business model My Shopping Genie utilizes. The business model is identified as network marketing, also identified as multi-level-marketing. A small amount of people does not totally comprehend this model and are hence skeptical.
In this article we will look at different sides of MSG and see if any of them might be a scam.
My Shopping Genie business model can be divided in 3 sections:
• Network Marketing. You can sponsor other license owners and let them be part of My Shopping Genie opportunity. For each 2 new license possessors you introduce, you receive 100 USD one time. Beside that, there is a residual income stream of 10 USD per month, on condition that the 2 license owners stated earlier stay active. And you will be able to make 20% over the click commission these new license holders make.
• Click commission. My Shopping Genie permits the license holder to be paid income the same way Google, Bing or Yahoo are making their billions. These companies make money by having corporations putting their ads on the search engines, called (PPC) Pay Per Click income. As soon as people explore the Internet and click on the ads, a fixed amount of money is charged by the search engine to the corporation that placed the advertisement. What you in reality achieve with My Shopping Genie is helping an individual to economize by giving them the Genie for Free and whenever they click on links within the application, you earn commission. The typical monthly click commission per active application is 3 USD
• Affiliate commission. The click commission will be paid out as soon someone clicks on the link, so a selling is not required. The third income stream, Affiliate Commission, is connected to an actual sale. In case someone clicks on a link to Amazon, offered by the Genie you handed over, and this person purchases the product, you will obtain a proportion of the sale. This is identified as affiliate commission.
If we look at the folks that created this company, all are well known within the industry; we can deduce that it is a reliable company. In addition, the rankings this business attains within the network marketing industry are excellent.
The second point is that they hand over a FREE app that assists people with saving money with the standard acquisitions they do online. The only terrible thing that can occur to a user of My Shopping Genie is that he does not obtain the outcome he wishes. But it did not cost a thing.
These two aspects conduct to the conclusion that the company and its application are no scam. But what about the business model and the opportunity to make a fortune?
There are out there many people in the network marketing industry doing well so we can not state that this model does not work. The most important point is, like with any other business: you truly have to know what you are doing. You need the suitable skill sets to profit from the opportunity or be prepared to learn these skill sets. Looking at the various streams of income My Shopping Genie offers, we have to bring to a close that it seems to be an attractive opportunity.
Considering the one-time starting costs of 199 USD and a monthly fee of 29 USD, it is a rather low investment to start getting into the game.
This leads to the conclusion that the business opportunity too cannot be considered a scam. I would just like to suggest you to pay attention as this is not a get quick rich thing and you should really ensure you have your strategy and tactics in place.