The Internet is an essential element of our daily lives. We receive information about new business opportunities more often than ever. One of these opportunities is the My Shopping Genie business. In this article we will investigate whether this opportunity is a scam or not.
Before we can give our verdict, we need to be familiar with what My Shopping Genie really is. The product they released is a software application, a FREE Internet-based application that compares prices for you. This free app allows consumers to find deals at over 200,000 stores, outlets and product manufacturers, along with over 1,000,000 coupons and special offers.
As soon as My Shopping Genie is installed, finding great deals will be as easy as exploring the Internet. Each search activates the Genie that brings down the huge overload of the Internet, which is usually found during the search. Shopping Genie provides consumers with a summary of the best prices from leading online vendors, shopping engines, auction sites, and free offers, including Amazon, eBay, Walmart, Google Products, Bizrate, Shopping.com, and the coupon engine of over a million Ask.com.
The corporation behind My Shopping Genie is MyNet Universe, a private company, co-founded by Sam Mendez, David Freed, Ed Muto, Steve O’Brian, and Keith Smith in 2008. My Shopping Genie’s software developer is Randy Blade.
Another important point is to gain an understanding of the business model My Shopping Genie uses. The business model is identified as network marketing, also identified as multilevel marketing. A small number of people do not fully understand this model and are therefore skeptical.
In this article, we will look at the different sides of MSG and see if any of them could be scams.
The My Shopping Genie business model can be divided into 3 sections:
• Marketing online. You can sponsor other licensees and allow them to be a part of the My Shopping Genie opportunity. For every 2 new license holders you introduce, you will receive $100 one time. On top of that, there is a residual income stream of $10 per month, provided the 2 license holders listed above remain active. And you’ll be able to earn 20% on the click fee these new licensees make.
• Click on commissions. My Shopping Genie allows the licensee to earn revenue in the same way that Google, Bing or Yahoo earn billions. These companies make money by getting corporations to place their ads on search engines, called pay-per-click (PPC) revenue. As soon as people browse the Internet and click on the ads, the search engine charges a fixed amount of money to the corporation that placed the ad. What My Shopping Genie actually does is help someone save by giving you the Genie for free and every time you click on the links within the app, you earn a commission. Typical monthly click fee per active app is $3
• Affiliate commission. The click fee will be paid as soon as someone clicks on the link, so a sale is not required. The third stream of income, the Affiliate Commission, is connected to an actual sale. In case someone clicks on a link to Amazon, offered by the Genie you delivered to them, and this person buys the product, you will get a cut of the sale. This is identified as affiliate commission.
If we look at the people who created this company, they are all well known within the industry; We can deduce that it is a reliable company. Also, the rankings that this business achieves within the network marketing industry are excellent.
The second point is that they give out a FREE app that helps people save money on standard purchases they make online. The only terrible thing that can happen to a My Shopping Genie user is that they don’t get the result they want. But it cost nothing.
These two aspects lead to the conclusion that the company and its application are not a scam. But what about the business model and the chance to make a fortune?
There are a lot of people in the network marketing industry who are doing it right, so we can’t say that this model doesn’t work. The most important point is, like with any other business: you really have to know what you’re doing. You need the right skill sets to seize the opportunity or be prepared to learn these skill sets. Looking at the various sources of income that My Shopping Genie offers, we have to conclude that it seems to be an attractive opportunity.
Considering the one-time start-up costs of $199 USD and a monthly fee of $29 USD, that’s a pretty low investment to start getting into the game.
This leads to the conclusion that the business opportunity cannot be considered a scam either. I would just like to suggest you pay attention as this is not a get-rich-quick thing and you really need to make sure you have your strategy and tactics in place.
