My Business Venture, found online at MyBusinessVentures.com, is a new company that says they want to give people a way to open their own online superstore and be their own boss.
Most people are aware that one of the most popular ways of working from home is to run an online store where you can sell products to online shoppers. My Business Venture is promising to give their customers everything they need to successfully run this type of business.
If you are interested in the business opportunity being provided by My Business Venture, all they ask is that you give them your name, email address, state of residence, and phone number.
How Does It Work?
My Business Venture promises their members a fully stocked website with up to 15,000 products, including products from popular categories like electronics, and will provide profit margins of over 100% on many different items.
They also promise that all of their members will be able to fully customize their website so that it looks how they want it to look, while also having access to a full set of beautiful product catalogs to offer their customers.
The websites provided by My Business Venture will also offer real time credit card processing on your website, “cutting edge” XML feed technology, and all products purchased will be dropshipped directly to your customers so you don’t personally need to invest in inventory and ship it yourself.
The Concerns
My Business Venture appears to be a very standard dropship business, which means that they will provide their customers with a website and access to inventory provided by a dropship company, and the only work that needs to be done by the business owners is to market their website.
There are a variety of concerns about these kinds of businesses, however. First is that My Business Venture is selling this opportunity to anyone who wishes to purchase it, which means that there are likely to be hundreds of websites that look just like yours and are selling the exact same products.
To compete with other members of My Business Venture then requires people to be excellent online marketers, which can often be the hardest part of any online business – getting people to come to and stay on your website.
Often what people working in the dropship industry will find is that in order to stay competitive they must slash their prices to the point where they are making the bare minimum of profits, and this ultimately ends up in people having difficulty earning enough money to make the whole process worthwhile.
Customers who are new to the concept of dropshipping should take time to read the many different free resources available on this business before committing to work with a company like My Business Venture.
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My rep has always been there when I have called and live US based people always pick up if you call the toll free number. I had tried a similar business in the past and could never get anyone on the phone, so this is a welcome change.
I am not sure what happened with some of these other reviews and wonder if they are even real or a competitor writing it. All I know is I am excited so far and look forward to really growing my business.
With that said, there is NO WAY to make money. This will be long but I’ll explain
1. The products come from Sunrise Wholesale Merchandise. If you go Sunrise Wholesale Merchandise’s website you can almost get everything MBV offers (minus free shipping) for $199!!!!. I’d HIGHLY recommend trying this before shelling out thousands to MBV.
2. How can MBV even afford to pay the shipping on orders and stay in business? They can’t. My rep said they have over 1,000 customers making money. Ok, let’s say those 1,000 even average just one sale a day. That would be 1,000 orders a day or 365,000 orders a year that MBV pays Sunrise Wholesale to ship out. The lowest shipping cost at Sunrise is $5. So even if all the orders were the lowest shipping cost that would be over 1.8 MILLION DOLLARS that MBV spends in shipping. There’s no way they are staying in business if that was the case.
3. The products don’t sell. Believe me I tried. And even if they do sell you have to sell them for about a $1 profit per $100 order. So many people are selling the same products on EBAY, Amazon, etc..... I promise you that you will not sell these products and if you do you’ll make practically nothing on the order.
4. When My rep went over the “upgrades” I was appalled. $500 to set up a few social media pages which anyone can do for free and in under 30 minutes. $300 to do website verification which anyone can do for free and in under 2 minutes. $400 if I want to add any products I may have. $300 for pro email addresses. That’s just a couple, they have a bunch of upgrades. They don’t just profit off this, they must make a killing from anyone ignorant enough to pay for it. Over and above the initial 4K investment they try to get you for another 4K of “upgrades” that shouldn’t cost more than a few hundred dollars all combined.
5. The “Lowest Price Guaranteed” is a joke. It only applies to your website, which no one will visit or buy from. If you want to sell the products on Amazon, EBay, etc... they do not honor this. Same with free shipping. But again they know you won’t sell anything so offering free shipping doesn’t mean anything.
6. Support is a joke. I always got transferred to a guy who was so rude and uninterested in helping. It’s obvious they really don’t want you to call them
7. My rep absolutely disappeared after I got everything they offered and I guess he realized I wasn’t getting more. Every call is a sales pitch.
8. They refuse to give referrals claiming their customers don’t want to be bothered. Give me a break. If they had real people making money they’d be thrilled to let you speak to them. All their testimonials seem to be from people who just bought in. They did the same to me, asking for a testimonial before I even really started.
There is more but this has been long enough. Bottom line is save your money. You will NEVER make a dime with this joke of a business. I suggest if you’ve been taken by these people to call the BBB immediately. That was the only way I personally got anything back.
They claim they have professionals to do your social media but it's mediocre at best. A 5th grader could probably do a better job. They want you to rate them in the beginning because the honeymoon is still fresh. If you wait, you will find out that they are useless and just want to gut your money from you by using outdated advertising and teaching. I wouldn't recommend their social media packages if you do decide to go with them. Find an outside source, it would be much better or just do it yourself. Posting and using a social media schedulers is all that they do. If you want creativity, they do not have it. You're better off just doing it yourself and save your money for something else. They will set up all of your social media ads and you can pay them to run just two because the scheduler they use is free and doesn't cover all of the social media sites (hence you're better off doing it yourself).
They basically sell you other sites that they worked with or just abandoned. This so called "unfranchised franchise" is a guise. They outsource the monitoring of your site to others (including internationally) and anyone has access to the critical data that is on your administration status. There is nothing you can do about it as they upkeep the site. Your site is also only seen by those in North America as they offer free shipping just to North America for a certain time. Should you want to sell internationally, you will have to go on eBay or another site, which will cost you money.
It's true that other sites are basically the same as yours and are selling the same thing as you so unless you have a large following, it will be rather difficult or you could get a real advertising agency to help you get going (that will cost money but it's better than theirs). The products they have are also old and outdated; when you do find a good item, it sells out right away so by the time you can get to advertising it, you lose out.
I would not recommend this franchise. They are slow to respond, especially when you have a problem, the drop shipper that they use is just as bad. Their updating of the shipping site is very slow and poor that you'd think since they've been doing this for years that they would've had it down to a nickel but like I said, a 5th grader could probably do a better job.
There are a lot of things you can do now to open your own online business and much cheaper.