Hi and welcome to my 7k Metals review.
Well, I don’t know about you, but I’ve actually been approached by someone from 7k Metals who gave me their whole spiel. Yes, I know, I could have stopped them, but like you and probably many other people, I was curious, and to be honest, sometimes salespeople start talking, and it’s just hard to stop them.
So, today I’m going to give an honest review of 7k Metals. Who are they? How much do they cost to join? Is it a scam? What does their Compensation Plan look like? And finally and possibly most important, how easy or difficult is it to make money with 7K Metals? Is it for you, or should you look at other alternatives instead? I hope you enjoy my Review!
WHAT IS 7K METALS
As long as the idea to make money exists, it can become a multi-level marketing venture. 7K Metals is one such company. The company is based on the principle of preserving people’s wealth by investing in precious metals. 7k Metals is an MLM company that offers memberships that give people access to precious metals, such as gold, silver, and bronze. The company was created in 2016 and has a headquarters in Idaho, USA.
This firm relies on a more one-on-one marketing approach to reach more customers. And, since this is an MLM company, you can not join this company unless you are referred by a member.
They also talk about how they offer the most affordable precious metals in the market.
The 7K Metals website indicates that Zach Davis, Richard Hansen, and Josh Anderson are co-founders for the company, and Sam Cook is currently serving as the CEO for the business.
According to the 7k Metals Website, both Richard Hansen and Sam Cook have extensive management backgrounds and experience collecting various precious metals. Zach Davis and Josh Anderson appear to have multi-level marketing experience.
HOW MUCH DOES IT COST TO JOIN 7K METALS?
There are several types of annual memberships. The first is a Standard annual membership that will cost you $199. The Premium, annual membership will cost you $499. There is also a Restricted Customer annual membership for $99 and a Sales Center Only annual membership for $180. You can only become a member if you buy a membership. You will then choose which autosave coin you wish to have shipped each month. There are three different coins you may choose, which are an additional fee of $105 (basic), $139 (variety), or $309 (specialty). You will need to pay a $10 business builder fee per month to become an Associate. Each membership package comes with its perks. They include low bullion prices, training materials as well as access to rare coins.
7K METALS PRODUCTS
I’ve noticed several different perspectives on the internet about whether or not 7K Metals Company has retail products for the general public.
So, I decided to take a closer look. Let me say YES 7K Metals has retail products for sale to the general public and through affiliate sales. Then you would think it would be easy, go to the company website and click on the products tab and it will take you to a page with products that you can purchase on the spot as a company guest. That is as long as the product that you want isn’t “Sold Out” at the moment. www.7kmetals.com/products However, I decided to follow it through and go to the cart, which proved not to be as easy because the following window popped up…
I couldn’t get to the cart, even as a guest, without first filling out this box. So one way or another they are going to get you. You either already talked to someone, because you had a referring members username or you contact their support team and give them your contact information and you will be on their list for future contacts.
Anyway… at the time of this writing, the following products were the only ones available to the general public. Many of their items were “sold out’.
Other items were listed under “Dealer Direct”, which lists the more expensive items. The Most expensive is the one I’m showing here…
You need to be an affiliate to have access to these additional products. They also indicate you will get better deals on their metals if you become a member.
7K COMPENSATION PLAN – HOW DOES IT WORK?
Now let us look at different ways to earn money from the compensation plan of this company. You must first buy an annual membership before you can become an Associate, and as an associate, there is also a monthly fee you must pay to receive commissions. As soon as you become an Associate, you can start building a team by selling memberships. You then have a team divided into two legs or parts called the binary compensation structure. Your team’s first level will have two people with one on your left leg and one on your right leg. Those two people will be split into 4 people on your second level. This continues as people are recruited, and the number of people doubles with each level. You will accumulate points when a transaction involving points takes place on either side of your team.
Your earnings will not only depend on the size of your team or downline but will also depend on your rank. Higher ranks allow you to earn on more cycles. Your rank depends on the number of members you personally enroll, as well as their rank. You need to have one member on each side at a rank below the one you wish to reach. So, the people you personally enroll also need to climb the ranks for you to reach the top.
WAYS TO EARN WITH 7K METALS – HOW EASY IS IT?
I’m going to briefly explain the two ways you can get started with 7K Metals as an affiliate. First, You can buy precious metals. Second, you can build a team by sponsoring new affiliates and earning commissions.
When you or someone on your team sells a membership, or certain products, you earn points. You will not earn points for gold or silver purchased at wholesale cost.
For every 500 points matched on both sides, there is a $500 commission paid. There will be caps depending on the following criteria:
Levels And Requirements
- Associate – Recruit and maintain at least two MLM commission qualified affiliates, split one each side of the binary team – $500 weekly commission cap.
- Copper-Recruit and maintain at least four MLM commission qualified affiliates (two must be Associate), split two on each side of the binary team – $1000 weekly commission cap
- Bronze – Recruit and maintain at least six MLM commission qualified affiliates (two must be Copper), split three on each side of the binary team – $2000 weekly commission cap.
- Silver – Recruit and maintain at least ten MLM commission qualified affiliates (two must be Bronze), split five on each side of the binary team – $3500 weekly commission cap.
- Gold – Recruit and maintain at least sixteen MLM commission qualified affiliates (two must be Silver), split eight on each side of the binary team – $7000 weekly commission cap.
HOW EASY IS IT?
To qualify and receive a commission in the binary compensation plan, you need to stay active and achieve an Associate or higher rank. This can be done by generating 20 points every 32 days. You need one active member on your left as well as your right leg to become an Associate. These requirements are not hard to meet, so you should not find it difficult to qualify.
Gold is the highest rank and, as in most MLM companies the highest rank is always the most difficult to reach.
You can only earn points for a limited number of product sales, and a meager amount of points are paid for those sales. This is unfortunate and ensures that your earnings will be meager from product sales, as well. It seems that the company doesn’t want you to focus on selling their products. You will need 500 points on each side to earn money if you are only selling their products. This means that you will have to sell many products because there are only a few products that allow you to accumulate points. So, your only other option is to focus on recruitment to earn your income.
Once you have reached the top, then you can earn $7,000 per week. However, I think it’s challenging in most cases because it’s tough to recruit enough people to accumulate the needed points. If you recruit someone and that person quits, your rank is also affected, so you must constantly recruit new people to maintain your current rank or possibly move up the ladder. In most cases, people struggle to earn with this MLM business model and eventually quit.
IS 7K METALS A SCAM?
Is 7k Metals a scam? I’d say No. They do have an actual product that they sell. What I also like is that it’s offering you a product that appreciates over time.
You are not able to earn commissions on all retail activity. This is not how the compensation plan of a normal MLM company works. Typically, you can earn commissions from all products’ retail sales in a normal MLM company. But, still, this does not make 7K Metals a scam.
Some of their products are very competitive, but I also noticed they were sold out a lot more often on their 7K Metals website, way more often than they should have been.
Maybe they should stock more on that?
FINAL THOUGHTS
Ok, I think that sums up my overall review of 7k Metals. Yes, it does appear to be a legitimate company. They do have a website. www.7kmetals.com However, I am sure some might call it a scam. I don’t know if this is right for you or not, but I do know this is something you need to decide for yourself. Make sure to do the proper research and always educate yourself as much as possible.
But let me tell you that network marketing or multi-level marketing business is not for everyone. If you are not comfortable with selling and recruiting then you might want to think twice. I am not saying that you can’t earn without these skills, but they will surely help you succeed and achieve your goals.
One must also remember that there’s no substitute for hard work, consistency, and self-motivation when it comes to success with any business, especially an online business.
Keep reading for my #1 Online Business Recommendation! It’s a lot simpler (not easy) and it does not REQUIRE you to SELL to FRIENDS or FAMILY!
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I hope you enjoyed my 7kMetals Review and if you have any questions, feel free to ask in the comments…
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