So it looks like there’s yet another company getting a lot of buzz inside of the Network Marketing Industry. The company is My Warranty Rewards, and if you’re reading this you’re probably thinking about joining. But before you do, I want to encourage you to read this simple but detailed My Warranty Rewards Review first. I do want to disclose at this time that I’m not a distributor for My Warranty Rewards, so you can be sure that you’ll be getting an unbiased perspective of the company, product and business opportunity. With that out of the way, let’s bet started…
My Warranty Rewards Review – Who Is My Warranty Rewards?
First things first, let’s go into who the company is and what they market. My Warranty Rewards is a company that sells extended warranty plans through a Network Marketing business model. The company was started in Texas by Co-Founders Jay Tuerk and Yoni Ashurov. Both of these gentlemen have impressive resumes and bring decades of combined experience to the company. My Warranty Rewards is actually the marketing arm for Matrix Protection, which is a leading provider of month-to-month warranty plans. In fact, Matrix Protections already has 600,000 customers all over the country, so you know they are a legit operation.
From a marketing perspective, there were a few things that stuck out to me when I looked into My Warranty Rewards. First, the extended warranty Industry is a $50 Billion Industry, so getting positioned in front of a growing Industry like that is definitely a plus if you join. Second, since you’re able to save people money, it’s an easy concept to talk about. How do you save people money you ask? Instead of paying hundreds of dollars a month on separate warranty plans to cover all of your different electronic devices, you can give them one plan that covers all their devices for $29.97 a month. And third, there’s no limit to how many devices that can be covered by the Matrix Protection Plan, including past, present and even future purchases. As you can see, it’s a pretty simple concept and an easy conversation to start with potential prospects, which is very important when considering a product to promote.
In order to make money with My Warranty Rewards, the first thing you have to do is to become a distributor. The cost to start your business is just around $100, which includes your $29.97 Matrix Protection Plan that covers all your personal devices. It’s quite inexpensive when compared to other price points in the Industry. The compensation plan itself is pretty straight-forward and offers several ways to earn income.
Here’s a simple breakdown of the different ways to profit from the compensation plan:
1. Customer Bonus – You can earn a $10 Bonus every time you sell a warranty plan to someone. This bonus gets paid weekly so you can earn immediate income.
2. Expansion Bonus – Once you personally sponsor someone, you can earn an additional $30 if you can help them get their first customer inside of their first 30 days. These bonuses also get paid weekly so it’s another way you can earn immediate income. As you move up in rank, you can also earn overrides when distributors on your team qualify for Expansion Bonuses.
3. Customer Residuals – Based on your rank, you can earn between $1 to $7 per customer in your team. In order to earn Customer Residuals, you first have to hit the position of Senior. Residuals get paid monthly, and you can start to build back-end passive income with this bonus.
4. Team Profit Sharing – The company also has a 2X12 Forced Matrix in place. You can actually benefit from distributors that aren’t on your team but you have to get in early so you can get prime positioning in the Matrix. You can earn between $.25 and $3 for every distributor that falls in your Matrix.
5. Check Match – You can earn a 25% Match on the incomes of all your personally sponsored distributors. This gives you additional incentive to work with your direct distributors and help them make money.
6. Lifestyle Rewards – For top producers, there are rewards in place that are on top of the compensation plan. The company provides up to $500 per month for Health and Life Insurance. There’s also an opportunity to earn up to $1,000 per month for a Luxury Car Bonus. And there’s also an opportunity to earn up to $3,000 per month for your rent or mortgage payment. Having the opportunity to earn these Lifestyle Rewards is pretty cool since you don’t have to dip into your actual earnings for these expenses that you have to pay for anyway.
All things considered, the compensation plan is pretty attractive and can be quite lucrative for the right person who has the right skill-sets and mind-set.
Well… only you can answer that question. The company certainly looks credible, as Matrix Protection has been around since 2006 and already has 600,000 customers. There’s no way an unstable company can be in business that long, so you can feel good about that. The product is an “easy sell” since you’re basically offering people savings, and the compensation plan is very generous. All this is good, but does it mean that you’ll automatically see personal success? Unfortunately, no. While all those things are beneficial, your personal success will depend on your ability to sponsor new people into your team. Without the ability to sponsor new people on a consistent basis, you have little to no chance of building a successful business.
My recommendation is that you learn Attraction Marketing so you can get MLM leads online. If you can incorporate Attraction Marketing into your business, there’s no telling how prosperous your business can be.
My Warranty Rewards Review – Need More My Warranty Rewards Reps?
I wrote this My Warranty Rewards Review for people looking into the company. Sadly, most My Warranty Rewards reps will never see the success they desire because they lack the marketing skills to generate 20-50 leads a day. To learn how you can generate more leads than you can get to, visit my Online MLM Training Website.