A 7K Metals MLM review is a good way to get an unbiased look at the company’s business opportunity.
7K Metals is a company that promises to help people make money online. The company has been sued by the FTC and accused of being a pyramid scheme, so it’s hard to know if 7K Metals is really worth your time.
Are you searching for a review of 7K Metals MLM? Is Seven Thousand Metals a Pyramid Scheme?
You may have heard about 7K Metals MLM if you desire to earn money online. There’s a strong chance you learned about 7K Metals MLM through someone you know — a friend or family member.
However, with so many internet frauds, you may be unsure if you can trust it.
I’ve spent years reviewing hundreds of comparable online programs like 7K Metals MLM because I’m passionate about assisting others in discovering the finest money-making possibilities online.
I’ve spent the last week researching the 7K Metals MLM so that I can tell you all you need to know about it.
As a disclosure, I am not involved with 7K Metals MLM and have not been compensated to write this review. As a result, you can be certain that my opinions are impartial.
In this 7K Metals MLM review, I’ll go over the following:
What Exactly Are 7K Metals?
7k Metals is a multi-level marketing firm formed in 2016 by Ball, Roger, Hansen, Richard, Zach Davis, and Anderson, Josh.
The company’s present headquarters are at 3640 S Yellowstone Hwy in Idaho Falls, ID.
Members benefit from lower precious metal prices as well as a multi-level revenue possibility, which some regard to as a “business-in-a-box.”
People interested in precious metals, coins, bars, and bullion are offered membership packages via the MLM business model.
The objective of the company is to make a significant difference in the lives of individuals all over the globe who want to better their quality of life.
7K Metals provides gold, silver, and other precious metals as instruments to help individuals achieve financial independence and develop wealth.
They supply the most affordable precious metals to their members by simply charging them their real cost for precious metals.
7K purchases these precious metals, such as gold bars and silver, for the lowest feasible price from the world’s largest distribution channels.
If you join 7K Metals to grow a downline and make residual commissions, you are not only spending money, but also your time, effort, and reputation.
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7K Metals was founded by who?
The following individuals own 7k Metals. Let me present you to them one by one.
Davis, Zack
Anderson and Davis have the most MLM company experience. Davis was exposed to network marketing as a college student and has since assisted many others in achieving their objectives.
Since 2011, he and Anderson have run Black Ink International, a multilevel marketing organization.
Hansen, Richard
Hansen has been in the network marketing profession for 34 years and is a seasoned precious metals collector and miner.
Ball, Roger
Ball is well-known for his business acumen. He was the sole owner of JD Premium when it closed in 2015.
He owned JD Premium prior to its closure. In 2012, he worked for another firm called Paycation.
Anderson, Josh
Anderson found network marketing when he was 21 years old. In his first year with another MLM firm in 2008, he developed almost 18,000 individuals, and another 9,000 people in his first four months with another MLM company in 2009.
Soon after, Anderson was chosen CEO of the group, which had grown to over 26,000 members.
Davis was the company’s CMO from 2009 to 2011, in addition to being CEO. Personal care and nourishment supplies were supplied.
What Are 7K Metals’ Precious Metal Products?
The following items are available from 7k Metals:
- coins of gold
- silver mint
- Bars of platinum, gold, and silver
The following is a price breakdown:
- $19-226 in silver coins
- coins of gold – $162-1,945
- $18.88/oz silver bars
- $155/oz gold bars
- $966/oz platinum bars
- A kilogram of gold may cost up to $47,627.
7k Metals also has a large selection of jewelry to pick from.
A renowned private safe firm has also agreed to work with 7k Metals to assure the safety of your valuables.
You may browse for particular items at member’s pricing on the 7k Metals website, but you must reside in the United States and be a member.
You must know a lot of affluent individuals with discretionary cash in order to earn money.
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Is it Possible to Make Money With 7K Metals?
A limited point system will be used to pay out for each 7k Metals product you sell.
You must earn 500 points to be eligible for a reward. Every sale you make earns you 20 points. It’s simple to see why so few individuals, if any, succeed with MLM with this pay model.
MLM participants lose money about 70% to 100% of the time. More information about this industry may be found here.
We couldn’t discover any information on how much money 7K Metals members make, and the firm hasn’t said.
I believe that very few individuals profit from 7K Metals MLM.
Is Seven Thousand Metals a Pyramid Scheme?
7k Metals isn’t strictly a pyramid scheme since members may still profit from precious metals sales.
However, making a decent livelihood this manner is very difficult. Workers who make the greatest money in the firm are also the ones who hire the most people.
As a result, 7k Metals is a “disguised pyramid scam.”
So, what exactly is a pyramid scheme?
Instead of selling items or services, members are compensated for recruiting new members.
Most nations have prohibited pyramid schemes because anybody may profit from them.
7k Metals, like any other MLM, provides legal goods in the form of precious metals.
However, the corporation prioritizes recruitment above revenue.
7k Metals does not allow for retail sales. Customers that are unaffiliated would be perfect for purchasing precious metals. You can’t buy anything unless you’re a member.
Their primary attention does not seem to be on the product.
Here’s a 5-minute video that explains the pyramid scheme idea.
7k Metals is not a pyramid scam as long as their items are acceptable, such as precious metals.
To earn money with 7k Metals, you must sign up new users. The pyramid scheme flags are shown there.
If you still have doubts, we suggest checking out their Better Business Bureau rating.
What are the membership requirements for 7K Metals?
Before you can begin, you must satisfy some conditions.
- You must be of legal age in your country of residence.
- Have legal ability in your native country to join the 7k Agreement
- In the United States, US Territories, and other nations, 7k is now open for business.
- US associates must have valid Social Security numbers and Federal Tax IDs.
- To become an associate outside of the United States, you must produce documentation of residence and tax status in the nation where you live or where you want to enroll.
- A completed 7K Independent Associate Application and Agreement is required for 7K Online.
If you match their standards, a 7K membership gets you access to member direct pricing and collector training.
It’s also the first step toward developing a 7-figure downline and receiving weekly payouts.
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How much does it cost to join 7K Metals MLM?
1. Members
All members must have a basic or premium membership. The following are the prices:
- Annual Basic Membership: $249
- Annual Premium Membership: $449
2. Transportation Card
7k Metals also requires the purchase of a travel savings card. The following are the prices:
- $250 for basic membership
- $500 for Premium Membership
You can always locate the finest travel prices with this application.
What is the 7K Metals Compensation Plan?
7K Metals’ compensation plan is known as a “binary” scheme. You earn money by recruiting new members.
Consider it an upside-down “V” with you at the top. When you join up, you will have members on both sides of you.
At 7k Metals, you get points according on how much you sell:
- Affiliates have the option of signing up new members or paying a $250 yearly fee (100 points).
- Coins are bought and sent automatically (25 points)
- You make money by purchasing coins from affiliates with whom you have joined up.
- You will only get compensated if you sell the least quantity of 7k Metals.
- You have two compensation options depending on the sales of your team.
- If both your left and right sides have 500 points, you get $500 every week.
- You get $1000 every week if they have 1,000 points.
- The next week, everything between 500 and 1,000 is reset.
When you accomplish specific milestones, 7k Metals pays out:
- At least 25 points are required each month.
- In a month, get at least two new members with 25 points.
- Finally, everyone you suggest will get a 5% referral incentive.
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Is Seven Thousand Metals a Scam?
I can’t claim that 7K Metals MLM is a rip-off.
Because you receive something in exchange for the amount you pay, 7k Metals is a real network marketing organization.
Furthermore, I have not noticed any complaints about substandard items on the internet, therefore people assume it is true.
However, the manner in which the items are supplied disturbs me. Since memberships are only accessible to registered individuals, it would have been good to have them give memberships directly to consumers rather than via MLM business models.
Additionally, there is a means for you to earn commissions by bringing in new members who will be able to acquire these precious metals at a ‘discount.’
If you’ve ever worked with an MLM organization and are familiar with precious metals, 7K Metals could be worth a chance.
You should examine the cost of the metals from this firm from a global viewpoint before making a selection.
If the price is right, a membership with 7k Metals can be worth your time, since if precious metals are your thing, this might be just up your alley.
While 7K Metals is not a scam, you should be wary of individual members’ claims and promises.
If anything doesn’t seem correct, consult the 7K Metals paperwork or contact their leadership.
False and deceptive claims about earnings and earnings estimates are expressly forbidden.
Furthermore, 7K has an actual presence that you can visit, adding credibility, and presently has locations in six nations (U.S., Canada, U.K., Australia, New Zealand, and Singapore).
Another sign that it isn’t a fraud is the presence of accessible and well-known proprietors. The great majority of frauds (but not all) are perpetrated by unseen persons. They aren’t always even actual people.
MLM Pros 7K Metals
1. 7k Metals Has A Large Selection Of Precious Metals
The one thing I like about 7k Metals is that they have a wide range of precious metals to choose from, including gold, silver, bronze, copper, and even platinum. They also come in a variety of shapes and sizes, including coins and bars.
If you’re a gold or silver investor, 7k Metals is a good place to start.
2. Precious Metals Can Protect Against Inflation
Every money on the planet today is a “fiat currency.”
If you grasp this, you’ll discover that Gold and Silver are among the strongest asset classes for shielding people against inflation and the present sham economy.
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Cons and Complaints about 7K Metals MLM
1. Precious metals are expensive.
Because of the volatile nature of the market, investing in precious metals is dangerous. However, gold is gold. As a result, if the market falls, you may keep it and sell it later when the market rises.
The difficulty with gold (and other metals) is that it is still quite costly, so if you don’t have a lot of money, you need be cautious not to overdo it.
2. You must pay 7K Metals a subscription fee.
I look at the membership fee first when evaluating an MLM. It’s not fair to pay $249 for membership and an additional $249 for the travel card.
The Premium membership is $499, and the travel card is an additional $499.
$1000 a year?
It simply doesn’t add up, and I’d rather purchase my precious metals from an independent distributor.
3. You Must Join 7 K Metals In Order To Purchase Products
Although their website advertises a guest checkout option, it is little deceptive since you cannot purchase metals as a visitor.
After you’ve determined what you want to buy, you must submit the name of the user who recommended the site to you.
It seems suspicious if you have to pay a large sum of money up front for membership before you can buy anything else.
4. The Auto-Ship Program Must Be Used
Regardless of whether you prefer a specific product, you must sign up for auto-delivery to keep your membership status.
While this may not be a concern if precious metals are in high demand, you’ll almost certainly end up with unsold inventories.
Now you know why the majority of members lose money.
5. The majority of 7K Metals members fail
As is typical of most MLM firms, the great majority of its members (up to 98 percent) resign or fail.
Because 7k Metals is still relatively young, I anticipate its members to leave at some point.
The folks who were there from the beginning earn the greatest money, for the most part.
It might be challenging to succeed in any MLM.
According to several surveys, between 72.5 percent to 99.9% of MLM participants lose money.
Unfortunately, 7k Metals did not furnish us with an income disclosure statement, therefore we have no idea how much money their members make.
It’s most likely because they’re not generating enough money.
6. 7K Metals MLM has a very limited market.
Precious metals markets are limited, if not diminishing, in light of the present situation, as 7K Metals verifies.
Selling gold and silver is tricky. They’re not acquired for the sake of entertainment, but for long-term profit. How can you benefit from market declines?
People may be interested in purchasing gold bars and other precious metals, but will they do so?
I think it’s a little hazardous, particularly if you’ve never traded gold before.
7. Precious Metal Investing Is Dangerous
Precious metal investments come with inherent risks, so they may not be suited for everyone.
Trading in precious metals “may be volatile,” according to 7K Metals, and investing in precious metals “may not be suited for everyone.”
Furthermore, neither the CIPF nor the CDIC guarantee precious metal investments. If you redeem your insurance policy, you can get less money than you paid for it.
Before investing in precious metals, make sure you do your homework and consult with your financial adviser.
8. The MLM Industry is Dangerous
Of course, MLM isn’t the only option for 7K Metals to earn money and increase the number of individuals who purchase their precious metals items.
Investing in precious metals is dangerous enough, but adding multi-level marketing to the mix increases the risk.
Even 7K Metals admits that your success is contingent on your ability to sell, which requires hard effort, dedication, and leadership.
9. Selling precious metals to younger buyers is more difficult.
Precious metals are becoming more difficult to sell, particularly to the younger generation, as wages stagnate and priorities shift. Rather than precious metals, many choose to invest in cryptocurrencies.
As a 7K Metals premium member, you must target people between the ages of 40 and 65 to earn commissions.
7K Metals Is For Whom?
Consider if you’re exposed to a lot of people while deciding whether 7K Metals is good for you. You don’t need 100 individuals every month, but you do need a large number.
MLMs are ideal for those who operate a dance studio or a martial arts school with a huge customer base.
If you are a church leader or active in a church-related group, 7K Metals could be a suitable match for you.
The truth of network marketing, on the other hand, is that it is incredibly tough. That isn’t a speculative assertion.
You can’t establish a successful 7K Metals company (or any multi-level marketing business for that matter) unless you’re willing to go out of your way every day for months to recruit strangers (and years).
Playing 7K Metals is great for someone who doesn’t mind recruiting. You should ideally be extroverted and capable of dealing with rejection.
This is especially better if you have frequent access to a large number of individuals and enough discretionary cash to fund the monthly AutoSave program and membership expenses.
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Real Users’ Positive and Negative Experiences with 7K Metals MLM
Positive MLM Feedback from 7K Metals
- Their leadership abilities are exceptional.
- Members may acquire metals at a reasonable price.
- The compensation plan is straightforward.
- Weekly commissions are paid.
Negative MLM Feedback from 7K Metals
- You can’t buy anything unless you’re a member.
- They put a lot of work into attracting new members.
- The precious metal product line of the corporation is restricted.
- Instead of goods sales, it seems that memberships and monthly autoship premiums produce commissions.
- There is no revenue statement.
Final Verdict on 7K Metals MLM
The end of my 7K Metals review is here. Overall, I would not promote 7K Metals MLM to anybody looking to earn money online as a side hustle.
The 7K Metals package does provide some really useful advice on how to generate money online and earn hefty commission checks.
Furthermore, because to its distinct disadvantages, network marketing is getting increasingly crowded for the typical individual.
7k Metal may seem to be a legitimate firm with competent management, but it is still an MLM company, and making money in MLM is difficult.
It makes for unpleasant holidays and family reunions if you attempt to sell silver or gold to your friends and family only to have them fail and accuse you for defrauding them of $250 or $500.
7K Metals also falls short when it comes to scalability.
A day is limited in length, and you can only contact so many people on your own.
MLM companies are well aware of this. Because you can’t make wealthy as a one-person enterprise, they drive you to recruit as much as possible.
I have a better suggestion for you that will enable you to earn money while you are at home. It’s a more sustainable and straightforward method of generating passive money online.
In the next part, I’ll elaborate on this.
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The Best 7K Metals MLM Alternative For Making Passive Income Online
If you’re just starting out in internet company, you deserve a better program than 7K Metals MLM.
Wealthy Affiliate is the platform I recommend the most.
Wealthy Affiliate is a one-stop shop for starting an affiliate marketing company from the ground up.
When you join Wealthy Affiliate, you’ll have access to a first-class site hosting service, keyword research tools, community support, thorough training, writing tools, and other technologies to assist you step-by-step develop an online company.
Wealthy Affiliate offers a free account that allows you to get started with affiliate marketing right now without spending any money.
If you like the site, you can subscribe to a premium subscription to have access to all of its features. There are no more upsells.
However, how much money can you make with Wealthy Affiliate? A 21-year-old Wealthy Affiliate student earned $7,395 in only one week, equating to more than $1,000 a day…all while following the Wealthy Affiliate training.
Wealthy Affiliate has a far longer history than Authority Hacker, having been around for 15 years and boasting several success stories over the last decade. Wealthy Affiliate now boasts over a million users, demonstrating the platform’s popularity.
Here are some more inspirational success stories from Wealthy Affiliate members to offer you additional examples.
What is the location of Wealthy Affiliate?
Wealthy Affiliate offers a very straightforward price structure. It offers both free and paid membership options. Premium membership is just $49 per month or $395 per year.
You can try Wealthy Affiliate for free by signing up for the free starting membership here (no credit card required). You may choose to be a free member for an indefinite period of time.
As a starting member, you’ll get immediate access to the community, live chat, over 500 training courses, two classrooms, networking, comments, one free website, and the keyword tool.
All of these benefits are available without cost.
So I highly urge you to create a free account and check it out for yourself.
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7K Metals MLM Review Frequently Asked Questions
1. What are the drawbacks of multilevel marketing?
Multi-level marketing is more likely to generate money for people at the top of the firm, while it is more likely to lose money for those at the bottom. If you want to earn money, climb the corporate ladder. At the top are the most successful founders.
One of the most serious issues with multi-level marketing is that it is difficult for everyone to succeed. To be successful, you must persuade people to join you.
You can choose not to participate in the referral program at 7k Metals, so it is not always like this. Referrals, on the other hand, are the quickest method to generate money. If you want to earn money with precious metals, you’ll need to locate customers in a competitive market.
If you wish to invest in precious metals for your portfolio, there are firms that will offer them to you without charging you any fees. 7k Metals’ purpose is to make things that can be resold.
Many of the members do not earn any money. As a consequence, they forfeit their membership fee, while the person who suggested them is compensated.
If you wish to start a small company selling precious metals, there are merchants that may supply you without having membership.
2. Should You Become a Member of 7K Metals?
If you’re comfortable with 7K Metals being a network marketing firm, you should look at it more. If you have MLM experience, this might be a good fit for you. Especially for individuals interested in buying precious metals such as silver and gold.
If you don’t like the MLM industry, I would avoid 7k Metals.
Add to it the fact that I would pass if you are not interested in precious metals.
Due to the nature and cost of precious metals, one needs have a specific quantity of money to acquire them.
If money is a concern for you and those in your circle of influence, purchasing these items may not be in your best interest, and your warm market prospecting may hinder your potential to generate commissions.
Recommendation: This Is The Best Option
The “7k metals compensation plan pdf” is a review of the 7K Metals MLM company. The review will look at the company’s products, its compensation plan, and whether it is worth joining.
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