What is the name of your state (only U.S. law)? Ohio
I want to start my own money cycler website. In a nutshell, the way these programs work is like this - You pay a one time fee and the money cycles multiply. So for example, you pay $10 (a one-time fee). You're given a product such as ebooks, audio books, etc... and as people sign up under you and complete your matrix (Let's say it's a 2 x 2 matrix which equals 6 people) you then cycle (complete another 2 x 2 matrix). These programs are set up in such a way that as you cycle part of the money goes to you, part of the money goes to upgrade you to the next cycle, and the rest of the money goes to your upline. So I have a couple questions:
Are these businesses legit from a legal standpoint? I know there is a fine line between network marketing and pyramid schemes and I would like to know if these are fine.
If I wanted to start my own money cycler program, how would I set up the business (sole proprietor, LLC, etc...)?
I've done some analysis on networking marketing and these money cyclers seem like the way to go. I mean most people that are into network marketing are into for the compensation plan that comes along with the program (in my opinion). These seem like the least amount of risk with the highest potential return on your investment which is why I'm so excited to possibly create my own. Any legal pointers would be greatly appreciated.
I want to start my own money cycler website. In a nutshell, the way these programs work is like this - You pay a one time fee and the money cycles multiply. So for example, you pay $10 (a one-time fee). You're given a product such as ebooks, audio books, etc... and as people sign up under you and complete your matrix (Let's say it's a 2 x 2 matrix which equals 6 people) you then cycle (complete another 2 x 2 matrix). These programs are set up in such a way that as you cycle part of the money goes to you, part of the money goes to upgrade you to the next cycle, and the rest of the money goes to your upline. So I have a couple questions:
Are these businesses legit from a legal standpoint? I know there is a fine line between network marketing and pyramid schemes and I would like to know if these are fine.
If I wanted to start my own money cycler program, how would I set up the business (sole proprietor, LLC, etc...)?
I've done some analysis on networking marketing and these money cyclers seem like the way to go. I mean most people that are into network marketing are into for the compensation plan that comes along with the program (in my opinion). These seem like the least amount of risk with the highest potential return on your investment which is why I'm so excited to possibly create my own. Any legal pointers would be greatly appreciated.