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

dacouch

Emmzi wrote: »

I cannot for the life of me see how this works as a franchise model or a self employed basis so I don't get what the "job" is.

http://cashbax.co.uk/index.asp

It's a cashback scheme on random purchases. It hasn't launched yet and yet they have heaps of testimonials. You can probably make money selling it to people with products to sell but if you did it commission only self employed for an unproven product you'd be nuts. There's no way of judging OTE as it is too earlt for anyone to have actually earned anything.

Um.. no. Looks employed not self employed to me and far too early days to say if it is viable.

Hold out for a proper job.

They also break the law (Consumer Protection from Unfair Trading Regulations) with their testimony from Cameron & Co who are actually the company who own or at the very least are very closely related to the cashbax website

BernardBernard

Personally I think this is huge money making opportunity. It seems the commisions they pay are very high. It costs nothing to become an agent. It costs nothing for the customer who is buying the house, car, windows or whatever to use cashbax and receive there cash back. It should generate a hell of an amount of interest for the business selling the house, car, windows, caravans etc through cashbax. Just think they can, and it looks like they have major players already, advertising thier stock that if you buy from them you get all your money back! Now thats going to create footfall! I am going to look into it more but just compare it with GROUPON who basically get the retailers to discount by upto 85%. Some said that wouldnt work but Google just tried to buy them for 6 billion and Groupon turned that down!!! Big money to be made!!!

BernardBernard

Just been on there business website and it states they 1% commision plus bonus. So they state if you bring on a business/builders/estate agents etc with a turnover of 5 million (quite small really) and that business puts their sales with cashbax - then you would recieve 80K commision minimum - 50K upfront when the sales were made and 30K bonus when the customers take their cashbax. Think I have got this right. If so I am in big time, it doesnt cost me anything to be an agent anyways - so nothing to lose. Birmingham is full of businesses crying out for increased customers and developers who cant sell there stock. On thier website they have one developer who said he sold 4 off his newbuild offplan they first week they started advertising with cashbax - afterall if he is advertising that who ever buys his properties will get all thier money back, then thats got to attract attention and wipe out the competition!

Emmzi

*waves* hello first time poster with no connection to cashbax at all!

Exposed

I have heard of Cashbax, and have even met some of the individuals involved in this scheme.! I don't pretend to understand it, but for me the math just does not add up.!

For example all the adverts for introducing agents quote a figure of £80,000 (OTE), on target earnings.! That equates to 1% of the value of goods sold by merchants introduced to this scheme by a singular introducing agent.! To achieve that figure, the retail value of goods sold by merchants introduced by one agent would have to be something in the order of £8,000,000.! Furthermore, if the OTE were achieved and payable to all introducing agents, of which, according to statements made by Cashbax, there will be approx 650 to 1,000, this would require merchant earnings between £5,200,000,000 and! £8,000,000,000.!

Having worked as the European Sales Director for a multinational drugs company I know when I see a salary with OTE it equates to one thing only, PITS, "Pie In The Sky".! If Cashbax can show me evidence which disproves this I will freely retract the previous statement.! However until such time I will leave it to you to ascertain how realistic this is.

If this is such a brilliant scheme that is going to benefit everyone, introducing agent, reseller and buyer alike, then why have the banks not done this as they have thousands of individuals dedicated to making money for their companies plus ready access to a joint national and international customer base in excess of tens of millions.!

I have spoken with a number of banking friends, from Deutsche Bank, Barclays and the Royal Bank of Scotland they all point to the premise of the scheme stating it is not sustainable and has no longevity. These individuals advise the top 100 listed companies on the stock exchange.! Whose advice do I believe, those who are advisers to pension funds etc, or the owner of an estate agency.

As to the financial acumen of the individuals concerned I cannot, nor will I comment on their previous business dealings.! However, there may be a tie in with ReMax Scotland as the Cashbax National Sales Director, Mr Tony Brown is also a ReMax office owner.! Others who work with him within Remax, are heavily involved with Cameron and Co Estate Agents, Perth via Cashbax.!

If there is no linkage between the companies, it could be the case that some of those involved may be in breach of their contracts with ReMax.! Possibly a ReMax executive can answer this as it would establish their credentials as legitimate, and their conduct and trustworthiness as members of the business community beyond reproach, especially as they are asking to be trusted with substantial monetary sums.!

I had considered investing in this prior to researching the company, but there are too many improbables, unanswered questions, evasions, and too little openness.

Would I invest in it knowing what I know?! Having attended a seminar and listened to what they had to say! .... NO

Would I purchase any goods through it? .... NO

My opinion for what its worth: Sounds too good to be true and worthy of a get rich scheme which has been dreamt up by Del Boy and Trigger.

...........................................................................................................................................................

!!Adrian King is a ReMax associate who works alongside Tony Brown, who was mentioned in my post.! I have sent a link to this site to Mary Percy, Regional Director, ReMax, Scotland, asking her to qualify the involvement of representatives of ReMax representing a rival company and or a scheme run by that company, namely Cameron and Co, Perth.! Furthermore, I have asked her to post a reply to this site so the legitimacy of their actions and transparency can be seen by all, irrespective of whether they are looking to invest as a Regional Agent (£15,000 for a licence), or be party to this scheme as an Introducing Agent, (Free).

.................…...........................................................................................................................................................

I quote in full the response received today from Mary Percy.

"Dear Mr Moone - thank you very much for your inquiry.!! We can advise that RE/MAX Scotland has no relationship of any nature whatsoever with Cashbax and indeed any RE/MAX Associate involved in Cashbax, in our opinion, would be in breach of their RE/MAX contracts.!! As a result of your communication, we are now conducting an investigation with respect to your comments therein."

Mary Percy
President
RE/MAX Scotland
Email:!mpercy@remax-scotland.com
Tel:!+44 (0)1698 464 200
Fax:!+44 (0)1698 464 201



Thanks
Exposer

-BA-

Emmzi wrote: »

*waves* hello first time poster with no connection to cashbax at all!

Whilst I agree the poster seems dodgier than a spiv in a raincoat and 50 watches on each wrist. He has a single post dating back to 2009.

Do scammers really go as far as planting sleeper accounts now? Accounts to be brought out of deep freeze when they need to demonstrate support for their newly formed money making venture.

Do you know what? It really wouldn't surprise me

BernardBernard

I was just posting a reponse to the orginal question about whether to get involved as a agent with cashbax. I am just pointing out my findings. I am going to give it a shot. It doesnt cost me anything to become an agent so there is no risk on my part! Why is everyone out to knock people!

DVardysShadow

BernardBernard wrote: »

I was just posting a reponse to the orginal question about whether to get involved as a agent with cashbax. I am just pointing out my findings. I am going to give it a shot. It doesnt cost me anything to become an agent so there is no risk on my part! Why is everyone out to knock people!

I'm thinking you have been monitoring this thread in order to reply and your posting marks you out pretty much as a 1 trick pony. So if you are an ordinary bod going to give it a try, why are you bothering to post here rather than just giving it a go and getting on with your life? You come across as someone with a deeper interest in the scheme pretending to be a bystander who has become interested in it.

BernardBernard

Ofcourse I have been looking at this thread to see others thoughts - isn't that the whole point of this forum! Am I not allowed to express that I think Cashbax could be a great income opportunity for me. I have been on these forums for years albiet only posting once or twice but I find them a great source of ideas. I have already declared that yes I have now have an interest in Cashbax as I am becoming an introducing agent for them - but whats wrong with that. No smoke or shadows here - I have an interest! Unlike Exposed comments, who has just suddenly registered with Moneysavingsexpert to post his comment, - it sounds he has a major axe to grind! But isnt that the whole point of this forum, so everyone is free to express an opinion. As for DvardysShadows comments "why are you bothering to post here rather than just giving it a go and getting on with your life?" .......Dvardys has made over 10,000 posts on these boards - should'nt it be you who gets on with their life!

maninthestreet

BernardBernard wrote: »

Ofcourse I have been looking at this thread to see others thoughts - isn't that the whole point of this forum! Am I not allowed to express that I think Cashbax could be a great income opportunity for me. I have been on these forums for years albiet only posting once or twice but I find them a great source of ideas. I have already declared that yes I have now have an interest in Cashbax as I am becoming an introducing agent for them - but whats wrong with that. No smoke or shadows here - I have an interest! Unlike Exposed comments, who has just suddenly registered with Moneysavingsexpert to post his comment, - it sounds he has a major axe to grind! But isnt that the whole point of this forum, so everyone is free to express an opinion. As for DvardysShadows comments "why are you bothering to post here rather than just giving it a go and getting on with your life?" .......Dvardys has made over 10,000 posts on these boards - should'nt it be you who gets on with their life!

The sums just don't add up - how can they afford to give 50% cashback in 7 years time? Where is the money going to come from
to fund those cashbacks? The fees paid by merchants/retailers to Cashbax simply wouldn't fund those type of payments, even if they were invested.