Phoenix traders - what is your most successful selling technique?

Scots_Liz

Allicouldwishfor.

Yes I do use the pink pack, all filled out correctly, and with all the proper bits insidde. Maybe just haven't bumped into the right person yet.

Thanks for the reply.

Scots Liz

allIcouldwishfor

"Every No brings you closer to a Yes", Scots Liz, just keep asking and you'll get there. Don't be downhearted - it's a shame you don't have better support from your upline, sometimes you need someone to "talk you down" after a knock back. Although I don't see my upline very often (she lives a 45min drive away), I always feel really motivated after I've had some communication with her.

the_little_one

Great thread everyone - it's a real help!

Can anyone recommend whether I should open a specific bank account to use for Pheonix Trading monies or can I just use my existing personal current account?

Many Thanks!

allIcouldwishfor

It's a good idea to keep a separate account for your selling activities as it will make your tax return easier. I'm not sure if there's any legal requirement though. I use a separate account but it's not a business account, just a different personal current account.

drywhitewine

Snap.
I kept my old current account open whilst switching to alliance & leicester when they had the £100 cashback offer. I'm now thinking of switching to Halifax reward account.
I've kept my old account open for all my Phoenix dealings and it works really well to keep everything separate.
Not essential but makes life easier

allIcouldwishfor

I'm with Halifax, the high interest current account thingie, and I'm pleased to report they have yet to notice the unusually high number of cheques I bank!

shelovestobuystuff

Is anyone actually making any money with this?
I have had the paperwork through and am thinking about starting up but trying to work out the quantities I would have to sell to make it worthwhile.
A typical card costs 69p plus VAT so 80p in total,if someone buys it as part of a job lot of 10 to get it at the reduced price it costs £1.00 which you have to pay VAT on,thats 15p which only gives you 5p profit.
You would need to sell about 400 cards just to cover the annual subscription/membeship fee of £20.
So is anyone actually making anything out of this business opportunity or is it purely a hobby?

allIcouldwishfor

Shelovestobuystuff, you make at least 30% on all the products (it's 68p including vat per card), as well as bonuses on volume. Unless your turnover is more than something ridiculous like £60k a year there's no need to register for vat. Then there's business development bonuses, which can really boost your earning potential if you build a successful team. It's not a get rich quick scheme by any means but there's the potential to build a full-time business if you are prepared to put the effort in.

Wibblywobbly14

shelovestobuystuff wrote: »

Is anyone actually making any money with this?
A typical card costs 69p plus VAT so 80p in total,if someone buys it as part of a job lot of 10 to get it at the reduced price it costs £1.00 which you have to pay VAT on,thats 15p which only gives you 5p profit.

Hi, I think your numbers are a bit wrong. The Phoenix cards cost Traders 68p including VAT, and so if you sell them for £1, you get 32p profit, 52p if someone buys one for £1.20. You will only have to pay extra Tax if you are earning over a certain amount. You can also earn more in bonuses. This scheme will not allow you to get rich quick, it is a business which will take a little time to build. I am just starting to earn money from it now, as all my initial profits were re-invested in stock. HTH

Wibblywobbly14

Yipee! I have my second team member and will qualify for free renewal! Very excited about my lovely new member and look forward to supporting her.