I ran across this business opportunity on a site that advertised business opportunities. It billed itself as a loyalty/web marketing company. I was interested as I have an IT background and have worked in marketing for years, and developed enterprise class loyalty systems. The business seemed very straightforward. Customers sign on with the licensee to manage a text messaging platform that builds off of a loyalty kiosk. My sales rep told me that the average customer account was worth $300 a month. He said that they were so sure of their business model that they offered a Smart Start Guarantee. That if after 6 months of working their system I did not have 10 accounts or $3k/month in revenue, I would be entitled to a full refund of my $35k investment. That was a no brainer. They also told me that they had an internal team of appointment setters that would schedule me appointments, and that the close rate was 70%. How could I lose? Well, this is a scam. I went on over 70 of their pre-set appointments, and closed 1. This is not because I can't sell. I have been a successful salesperson my whole life. The program is not something most merchants want. On top of that, it isn't the latest and greatest technology in the space. There is a lot of competition from better sources, with less expensive and more robust solutions. One month from the date I was eligible to get my refund I sent my account manager an email stating my intent to request my refund. His only reply was that I wasn't eligible yet, and that I needed to wait. One week before my eligibility date, he called to ask if I would be willing to consider alternatives. He admitted to dropping the ball by not giving me the support I needed to succeed, but promised he would do better if I just gave them more time. I told him thanks, but no thanks. The next day he sent me an email advising me that instead of honoring their guarantee, that they would assign me 10 accounts, and that I would never get my money back. If you read the guarantee you can see how deceptive it is. It does not say that they maintain the right to assign you contracts to meet the threshold. On top of that, the accounts they assigned me were not even in my territory. There is a clause in the contract that states you cannot sell outside of your assigned territory, yet they assigned me contracts all over the country.
All in all I would advise anyone that is looking at SMSMM as a business opportunity to stay away. They are not honest brokers. They will not honor their guarantee. I do not want to see anyone else taken advantage of by these guys.
Review by Bdon Hible1 year ago
I have been a licensee of SMS Masterminds for over two years and I have to say that joining was the best decision of my business life. Direct and Sharp is how I would describe the company. They put my needs as a customer first and I always appreciate how Kenny, Charles and the team respond to my needs.
SMS Masterminds is rated 3.0 based on
Trust Mamma Reviews
Our reviews are aggregated from multiple sources to give you the best overview about smsmasterminds.com.
Aerovista Lane 805
San Luis Obispo