Owning a premium rate tel number - anyone tried?

thinkpositive1

Hi

I came across a company called Telephone Riches based in Middlesex and obatined their info pack and have previously spoken to the owner. He seemed ok to answer queries I had but you just don't know do you?

Before I part with my hard earned money I wanted to see if anyone else has experience of this campany and if anyone has made any money through them?

Basically the deal is this: you purchase a premium rate tel number in whichever market you want (recorded message or live: live pshycic readings, adult entertainment, dating, horse tipping etc. etc.) for about £100 per preimum rate number. They provide you with the advert and back up and it's up to you place your own adverts in magazines / newspapers / online, then you get a big % income of the premium rate calls made to your line. they provide the recorded messages or "live" services so you don't need to do anything else.

Now it has to be said, it sounds too good to be true (and that usually means it is)....but...has anyone tried it?

Really appreciate any genuine feedback before I do anything further.

PassedAtFailing

I don't know this company or fully understand your explanation of their offerings so cannot comment in particular.

However, I can tell you, there are many companies offering premium rate numbers and so you should compare thoroughly (and plan your business!) before comitting.

billsavings

You have to register with Phone Pay Plus if you run a Premium Rate Service these days.

Do they do it for you?

http://www.phonepayplus.org.uk/output/default.aspx

geordie_joe

I have no experience of these companies, but looking at your post one thing comes to mind.

You say they do everything for you, except the advertising, you have to do that yourself.

This makes me think "why don't they do the advertising themselves and keep all of the money"

They are already set up to do everything else, so why not the advertising?

The only reason I can think of is.......there is no money to be made from these lines.

They will make more money from "selling" the line to you for £100 than they ever will trying to run it themselves.

In other words, they are selling you X% of the income from the line for £100, and that £100 will be more that the X% they give you for the calls you generate.

TUS

Don't do it. It's far from "easy money".

thinkpositive1

Thanks all for your comments.

Geordie Joe - my thoughts precisely - unless the advertising costs are really expensive but even so if there is so much profit to be made why pass the opportunity onto the public?

As for TUS - do you have experience of this that you could sahre?

Amber_Sunshine

Weekly advertising - which is what you'd need to keep promoting your service - is VERY expensive. How could you compete with large companies? Also, how good are the recordings or live services - you would want to encourage repeat business, but you have no control over the quality of the service.

CannotFindHelp

Personally, OP, I wouldn't get involved with this. The price of advertising in magazines, especially in the Adult Industry, means that you would have to invest a lot of money into an already saturated market for no guarantee of return.

jen_br

Why do you think that established companies that operate lines pay their ops so little because the actual advertising is sickly expensive. and one line isn't gonna bring you in the bucks!

mg2008

geordie_joe wrote: »

I have no experience of these companies, but looking at your post one thing comes to mind.

You say they do everything for you, except the advertising, you have to do that yourself.

This makes me think "why don't they do the advertising themselves and keep all of the money"

They are already set up to do everything else, so why not the advertising?

The only reason I can think of is.......there is no money to be made from these lines.

They will make more money from "selling" the line to you for £100 than they ever will trying to run it themselves.

In other words, they are selling you X% of the income from the line for £100, and that £100 will be more that the X% they give you for the calls you generate.

I agree - Makes you wonder how much you will earn in relation to their earnings?

thinkpositive1

I don't know - that is why I was asking the question to see if people had info on this or any direct experience - success stories or complete failures. Sounds best to "treat with a wide berth" from what everyone is saying so far........