Cashbax - Should I take the gamble and go self empolyed with them?

Stymie

hey dacouch - I dont normally watch TV but this show looks quite entertaining - not educational but entertaining....

just got to wait for the wife to come home to teach me now to work the sky planner????

happy days!:T

Brian_Young

Stymie wrote: »

hey dacouch - I dont normally watch TV but this show looks quite entertaining - not educational but entertaining....

just got to wait for the wife to come home to teach me now to work the sky planner????

happy days!:T

watch this space and i will reveal a lot to you today at 1pm

Brian_Young

30 minutes to go mr cameron

Brian_Young

Brian_Young wrote: »

30 minutes to go mr cameron

2 years ago today me and 3 business partners paid £12,000 to stuart cameron for a regional sales area for the then called MONEYBAX now CASHBAX. Once the money was paid things changed i personally done training and also recruited othe regional sales clients for which i have never been paid for.Then after about 2 months after we paid the £12,000 to Mr Cameron he was kind enough to call a meeting in edinburgh to inform us he was taking the territory we had paid for from us as we had not produced any results. Two years later all agents are not producing any results but still have their region.Mr Cameron agreed to pay us back the money (or in other words pay the business loan we took out) which he gratefully did well for 3 months anyway then the payments stopped. Therefore my advice is DO NOT UNDER ANY CIRCUMSTANCES TRUST THIS MAN.
For people already involved in cashbax good luck with your venture

Stymie

OK Brian - i have sympathy with your loss of £12,000. If promises were made and broken then this is clearly not good. I wonder though if Mr Cameron took the region away from you due to non performance, why he did this?
I have dealt with none performing franchisees - they pay a fee and expect me to give them a fruitful living with minimal input from themselves - this again is not good.
I suspect Mr Cameron is an honourable man who is working very hard and changing method and mindset - I also suspect you were caught in the crossfire whilst the system was in the development phase - I could be wrong......

Brian_Young wrote: »

2 years ago today me and 3 business partners paid £12,000 to stuart cameron for a regional sales area for the then called MONEYBAX now CASHBAX. Once the money was paid things changed i personally done training and also recruited othe regional sales clients for which i have never been paid for.Then after about 2 months after we paid the £12,000 to Mr Cameron he was kind enough to call a meeting in edinburgh to inform us he was taking the territory we had paid for from us as we had not produced any results. Two years later all agents are not producing any results but still have their region.Mr Cameron agreed to pay us back the money (or in other words pay the business loan we took out) which he gratefully did well for 3 months anyway then the payments stopped. Therefore my advice is DO NOT UNDER ANY CIRCUMSTANCES TRUST THIS MAN.
For people already involved in cashbax good luck with your venture

dacouch

Stymie wrote: »

OK Brian - i have sympathy with your loss of £12,000. If promises were made and broken then this is clearly not good. I wonder though if Mr Cameron took the region away from you due to non performance, why he did this?
I have dealt with none performing franchisees - they pay a fee and expect me to give them a fruitful living with minimal input from themselves - this again is not good.
I suspect Mr Cameron is an honourable man who is working very hard and changing method and mindset - I also suspect you were caught in the crossfire whilst the system was in the development phase - I could be wrong......

Or was it because they invested in Moneybax which was Stewart Camerons forerunner to Cashbax. For the record Moneybax Ltd was dissolved recently.

Name & Registered Office:
MONEYBAX LTD
2ND FLOOR
145-157 ST.JOHN STREET
LONDON
EC1V 4PY
Company No. 05677715

Status: Dissolved 31/01/2012
Date of Incorporation: 17/01/2006

Country of Origin: United Kingdom

Emmzi

so is cashbax also a limited company with no proven track record of profit, which could be wound up as soon as they have your hard earned cash in franchise fees?

ILW

Emmzi wrote: »

so is cashbax also a limited company with no proven track record of profit, which could be wound up as soon as they have your hard earned cash in franchise fees?

They seem to have published no accounts at all. Happy to be corrected though.

dacouch

Emmzi wrote: »

so is cashbax also a limited company with no proven track record of profit, which could be wound up as soon as they have your hard earned cash in franchise fees?

They're a limited company and as such the directors can wind the company up with no liability to them.

They have started saying they have a Swiss financial institution guaranteeing them. Last time I looked they do not name the company or the terms of their guarantee.

I've dealt with bonds and guarantees in the past, as they are guaranteeing to pay x amount if an insured event happens (They won't necessarily pay under all circumstances hence why seeing the terms are important). They look at the history of the company, credit rating and the risks involved with their business. The amount you would need to pay for a new company and also a company relying on investment returns from a risky source would be astronomical. Imagine how much you would want to charge if you were guaranteeing the figures cashbax bandy about eg tens of millions.

I suspect if they have actually got a bond/guarantee it will be for an affordable amount such as £100k or £1m in total

Mystery_Man

From what I have heard, the answer is emphatically NO!
I have heard of Cashbax in Northern Ireland changing their sales pitch and their name several times. Testimonials from Northern Ireland which featured prominently on the Cashbax UK website, no longer feature at all. What is going on over there?
Anyway, I think the real difficulty with Cashbax is that there is no form of written guarantee to buyers or sellers, so there is no confidence with the system. How long has Cashbax been in operation in the UK? Twelve months maybe? And where is the evidence of any significant uptake in the marketplace?
The website refers to caravans, houses and conservatories etc. but fails to name any specific companies involved.
It clearly isn't working! My opinion.