Someone might have introduced this opportunity to work from home. But it just sounded too good for you, which is why you are wondering…
Is Genistar a scam? Well, to put you out of misery… Nope, Genistar is not a scam.
But even if it’s not, is it still a legit opportunity to make money from home from your home and quit or entirely ditch your full-time job?
Well, that’s what this review is for, because here, I’ll be showing you all there is to know about this MLM along with videos, images, and the specific pros and cons, so that you’ll know if this is for you or not.
The overview and rankings
Founder: Jeff Lestz
Type: Financial Education MLM
Success Stories: 3/100
Price To Join MLM: $140 subscription
What to look for in a MLM:
Genistar is a financial education and planning MLM that sells courses and plans that help customers improve their financial status.
They also have a program where members become affiliates who sell their services and earn commissions from it.
Make Time Online Rating: 50 out of 100
What is Genistar?
Genistar is a finance education Multi-Level-Marketing company based in the United Kingdom and started its operations in 2007.
Its founder is Jeff Lestz. Not much is known about him, but based on my research, I discovered that he is an entrepreneur businessman who had a good grasp of business and financial management.
The company he created believes in the idea that proper financial management can improve the standard of living of people around the globe.
And that it is his duty, along with the company, to help these people improve their lives by knowing the proper ins and outs of financial management.
Check out this 3-minute video discussing more about the company...
Also, you might ask...
Is Genistar a pyramid scheme?
Genistar is not a pyramid scheme.
I can say this for sure because their members earn despite not having to recruit their financial education services.
But still, it’s necessary to know and ask if… Is Genistar a pyramid scheme in disguise?
What is a pyramid scheme?
A pyramid scheme is a company that pays members who recruit people. This is the business focus and motivation instead of supposedly selling actual products and services.
Because of its nature, many governments around the globe have already banned these kinds of companies as members cannot treat this as a sustainable source of income in the future as they’re just all about recruitment.
This diagram from Wikipedia explains this...
There might be members who somehow make money, but all they do is just recruit as much as they can and advertise the alleged business opportunity that this MLM gives.
But if you look closely at the diagram, you can see that it’s impossible for the members to consider this as their main source of income because they are going to exhaust the number of potential members sooner or later...
Here is a 5-minute video that helps you spot these pyramid schemes in disguise...
But why do many say that...
Success is rare with Genistar
If you’re planning to consider Genistar as your new stable job, then you’re wrong.
In fact, it is very hard to be successful when you’re with Genistar. Statistics even state that around 72.5% and 99.9% of MLM members lose their money.
This is happening all the time because of the sales quota that most MLMs have where they can only stay active and receive their bonuses if they sell a certain number of products monthly.
They then have to buy it for themselves if they can’t sell it.
This then leads to them losing huge amounts of cash from their own savings before recruiting their first member.
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How does Genistar Work?
Genistar sells financial education services to consumers in the form of financial management plans and courses.
They also have an MLM business opportunity where members become their affiliate agents who are tasked to sell their services in return for bonuses and commissions.
It might sound nice, but what the company is actually doing is that they are just freeing themselves the hassle of and expenditure of spending huge money for marketing campaigns.
Instead, they just let their members do all of the advertising...
First of all, it's so important to understand what any MLM company actually sells before you If you are planning to become one of their members and try out your luck, then it’s necessary for you to know what their products are all about.
This way, you can somehow make your life easier selling their services…
Genistar divides their financial education services into 4 areas. These are:
- Personal - Receive online and physical courses on how you can improve your personal finances. This teaches you how to save for the future and how you can budget your salary and expenses.
- Finance - A more formal financial education course which focuses on financial management and how you can improve your financial literacy. This focuses on planning for future goals so that you can become financial independent later on in your life.
- Finance PHD - An advanced financial education course which provides advanced and technical details on accounting and financial management. It provides you with a game plan that includes theoretical terms that you can apply to practical means.
- Education - Professional one-on-one advice on how you can better improve your financial management skills.
Yes, it sounds nice because it actually teaches you how to be rich. But putting all those stuff aside...
Here's a 4-minute video that discusses their services in detail:
Also note that there are many other companies that sell the same stuff as Genistar, such as:
- Team National
- Legal Shield
- Fluorescent Sand
- Cowboy Wealth
- Global Dream Network
- 7K Metals
- United Success Network
It is then important to know...
Can you make money with Genistar?
Yes. However, it’s just hard.
Some do make money but the money they make is just comparable to minimum wage.
Sometimes, it’s even lower! All that despite them working for more than 8 hours a day of pure recruitment…
What’s worse is that they don’t have any income disclosure to show that their members actually do make money.
How to make money with Genistar
You have to do these 2 things to make some money from Genistar:
- Sell their financial education services
- Recruit members to the company
An important thing to take note of is that you can only earn bonuses and commissions from the sales that your recruited downline members make, and not from merely recruiting them.
How much does it cost to join Genistar?
You must pay $140 if you’d want to join Genistar.
This is for the subscription fee. It’s really not that much because it’s a one-time fee.
But you also have to do these other things:
- Undergo their 5-day affiliate membership training
- Have 2 live client interviews
- Take their multiple choice-style exam
What’s important to take note of is that the exam has a 70% passing rate and you can take it up to 5 times.
There’s also a 50-page manual guide you can study before taking the exam.
Genistar monthly cost
There’s no monthly quota when you’re with Genistar, which is great, considering that almost all MLMs have one.
So, for your first year, this is the only cost you’re going to incur:
But take note that the other costs and expenses’ yet included such as training, gasoline, marketing, and many more miscellaneous costs...
Genistar compensation plan
We all know that all MLMs have confusing compensation plans, and that includes Genistar.
Good thing, though, that you’ve found this review because I’ll simplify it for you…
Genistar offers members 2 main ways to make money as an official member:
- Retail Sales - Earn 25% commission for every sale of their financial education package service.
- Residual Rank - Earn commission every time your downline member makes a sale. The percentage and amount depends on your level.
It sounds simple, but for sure, there are still some who are confused with this.
If so, then just remember that you’re doing these 2 things:
- Sell their financial education courses
- Recruit people into the company and turn them into your downline members
Also, you might want to check out this video that shows how you can make money from this company...
Unfortunately, there's no compensation plan I can find...
Is Genistar a scam?
Genistar is not a scam.
The MLM sells legit financial education services and they also compensate their members exactly as what is dealt with in the contract.
But what actually happens is that members soon realize that they just lose money due to the many miscellaneous expenses they have to incur.
And they’re not making enough money to compensate for those losses. Hence, they consider this company as a scam.
Find out more if this is really the case by knowing the pros and cons of Genistar below...
Just to be fully transparent with you, I am not a distributor myself and I do not endorse it in any way.
I have researched the website, testimonials and information on the Internet to get to the bottom of what this program genuinely does. This is because I have been burnt from programs just like this in the past and I want to prevent others from making the same mistakes. If you’d like to learn how to “Spot an Online Marketing Scam” then click the highlighted text.
Common positive reviews
Here are some of the common positive reviews about its job opportunity that we have seen from Indeed...
- "A typical day working in Genistar, I would wake up at 6 am and be there at 8 am and I'll have to get everything ready for the meeting and I'll have to welcome the new people who would be joining the company and I would also be handing the money, answering phone calls, emails, and undertook diary management."
- "The training is continuous, so you are never behind on any changes, the people are positive and encouraging, you can work around your other commitments, and get paid for helping people to become financially free."
Common negative reviews
And here are the not so good things about its job opportunity we also got from Indeed...
- "It's a people business, if youre not a people person it's not for you."
- "Short shifts, pay and dealing with bad guests."
What I like about Genistar
Here are some of the best things that I like about Genistar...
- Pyramid Scheme – recruits members via a promise for payment from recruiting others into the company rather than providing a product
- Affiliate Marketing- Connecting a customer to a product they are looking for and receiving a commission for doing so
- Red Flag - A warning sign
Most MLM companies don’t survive for more than 5 years.
But that’s not the case with Genistar because they’ve been operating since 2007. That’s a full 13 years of continuous operation!
This means that the company is most likely to be around in the future...
#2 No monthly quota
This is the best thing that I like about Genistar.
Most MLMs have monthly quotas where members must sell a certain number of products or services every month to stay active and earn something.
That’s not the case with Genistar because you don’t have to pressure yourself into selling their services.
This also means lesser expenses because you’re not forced to buy the services you’re selling if no one purchases them from you.
What I don't like about Genistar
And here are some of the things that I don't like that much about this opportunity...
#1 Expensive products
Genistar sells overpriced financial management courses.
$140 might be not that much...
You can see that the other financial management courses out there are way cheaper than the $140 subscription of Genistar.
Although they’re just reading materials, the fact that you can research anything you like to learn on the internet just shows that whatever it is that they are selling is just an unnecessary expense.
#2 Lacks information
Genistar doesn’t have a compensation plan and income disclosure.
This is very rare for an MLM because these two official documents are the main core of their existence.
This also proves that they are running a legit company.
Well, Genistar is legit, but they just don’t take their public relations that seriously...
#3 Is Genistar a pyramid scheme in disguise?
You don’t need to continue spending any amount per month if you’re a member.
However, doing so also means that you won’t be earning anything.
The only way you can gain money is if you recruit as many people as you can…
Well, that’s because this is a smart strategy for MLMs so that they won’t be called a pyramid scheme because you earn from the sales of your downline members...
#4 Downward trend
Here is what I found in Google Trends:
The blue line is for Genistar, while the red line is for Farmasi, another MLM. As you can see, there’s not much going on for Genistar because not many people are interested in it.
Compare that to Farmasi and you’ll see a lot of people interested and wanting their products…
It’s a clear sign you’ll find it difficult to sell their financial education courses.
Ready to make passive income online?
I've created a growing passive income online with no previous marketing skills or online experience...
I've made a special video for you to explain exactly how I did this.
My opinion - Genistar
Genistar is a unique MLM that sells financial education services. It’s useful and will surely help you become richer.
But the fact is… You can simply just research them on the web for free. Their offerings are also overpriced.
And what about their business opportunity?...
The fact is… you can only make money by recruiting many people, despite knowing that they are just going to lose money later because of the many miscellaneous expenses.
Not many people are also interested in their offering, which is financial education, because well, you can just search them for free on the internet...
There are a lot of better business opportunities out there you can try, something that’ll help you earn more money without the hassle, and of course, the legality it needs...
How I make passive income online
MLMs are not scams or illegal. However, I'm not a fan of them because of the restrictions to the expensive products you have to promote.
Once I learnt about affiliate marketing, I realised it's a far superior business model because:
- You can promote anything you want and truly own the business
- You never need to sell to friends and family
- It's completely free to start
In 2018 I had no idea what affiliate marketing was.
But I went from a full time PE teacher to making a passive income online within one year...
If you want to discover how I did it then check out this special video I created which explains exactly how. You can also get your free 7-day bootcamp to get started.