The company known as 7K Metals has tremendously successful founding fathers that created an MLM company. Overall, this company has a solid reputation from a general standpoint, but there are a wide variety of people who discovered that it’s not only difficult to make money, it’s even hard to make enough money to breakeven on their investment. If you’d like to make a pretty penny as a precious metal seller, it’s possible to do it without paying this company for the use of their name and their marketing funnels.
Before Getting into Our In-Depth 7k Metals Review…
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The Truth about 7K Metals
This company first began its journey in 2016, getting its start in the great state of Idaho. This is a multilevel marketing company and it was designed that way to motivate the people in the company during the sales process. To gain the opportunity to sell one or more of their products, the person must join the company and become a member by paying their membership fee. And then it’s up to you to sell a product enough to make a return on your investment.
The company’s major goal is to help people lead a better financial life and is open to people all around the world. The precious metals market is a reliable way to gain more wealth because precious metals have had real-world value for thousands of years now. And if the world ever experienced an emergency on a global scale, the people who own precious metals would be the ones with the financial security because they can sleep at night because they still maintain their wealth.
Not only are they trying to help clients invest their money properly, they also want their members to sell their products independently. After you join this company, a precious metals marketplace becomes opened to all members. And the founders want everybody to know that they do not add a markup to these products because they are sold at the regular cost.
What Does 7K Metals Offer?
This company has two very specific types of products that they offer. One of their products is selling precious metals to their clientele, which they sell at market price. Their second offering is selling people memberships that want to become members of the MLM sales team.
When buying precious metals through this company, there are several categories to choose from.
They have the Selected collection, which they consider part of their flagship products. The collection is put together by the 7K team, because as time goes by, this valuable collection is expected to gain momentum in value. They want their customers investing in products that will pay much bigger returns over the long run.
Additionally, this company also sells gold and silver jewelry as well. The price of these jewelry items varies from product to product, but when you compare them to the products in jewelry stores, the pricing is very competitive. Some of the jewelry for sale through this company include:
They have a program called the Dealer Direct that is currently available to anyone who has a membership. Members get access to discounted prices on specific items available in the marketplace, and they even receive deeper discounts when bulk purchases are made. If you plan to sell a wide variety of precious metals, this is a great way to gain additional supply at low costs.
Another category is called 7K Gear. This doesn’t have anything to do with precious metals, but it’s all about selling clothes and other accessories including backpacks, T-shirts, sweaters, etc.
You can become a member of this company at two specific levels. One level is known as the basic membership and another level is known as the premium membership. No matter which membership you happen to join at, you are required to buy a travel savings plan. The cost of this plan varies depending on your membership level.
It’s also possible to make money in this program as a member if you refer other people to become members. This is part of the affiliate program, where people will sign up via your referral link.
The Inner Workings of 7K Metals
If you choose to become a member, this will give you access to their marketplace filled with precious metals. When you pay for precious metals at market price, you have the opportunity to sell them later at a marked-up profit. You can also buy bulk purchases that give you even steeper discounts.
After you become a member of this program, the first thing you do is pick your starter pack. There are three options starter packs to choose from, and each is designed for a particular financial situation. Choose your starter pack based on your current finance level plus your overall goals.
Once your starter pack is chosen, you’ll start to receive deliveries of your package once per month. You have the opportunity to pick whether or not you want to buy silver or gold. Using the AutoSaver card is the next step. This makes it possible to make purchases month after month automatically, which definitely simplifies the buying process. You are not required to renew marketplace transactions with automatic payments in place.
From this point forward, you can either keep the precious metals for yourself or sell them to interested buyers who are willing to pay for them at a markup. Since precious metals are a great hedge against inflation, many investors like to buy them as a main priority, and this is especially true in today’s inflationary environment.
You’ll also gain access to reduced prices when buying in bulk and you can even buy rare gold coins as a part of this membership.
Membership certainly has its privileges, but it also has certain fees attached to it as well. As an example, if you decide to become a basic member, you are required to pay $250 for the privilege each year. And if you choose to become a premium member, you’ll have to pay $450 per year.
As a premium member, you’ll receive the opportunity to purchase items at even bigger discounts, which is why many people prefer to join up at the premium level.
Members also have an opportunity to get even further discounts from dealers who sell precious metals, and this is possible without even paying a membership fee. So, if you’re looking to open a small business in the precious metal space, this isn’t necessarily the best way to go.
For those who join up at a premium level, your membership provides the following bonuses:
- MS 70 Coin
- 1 Silver Bullion
- Member Direct Pricing
- 12 Months’ Worth of Technology Credits
- A Voucher for 24 Business Cards
- A Voucher for Four Wealth Strategy Books
According to many people, it isn’t worth it to pay an extra $250 a month to join the premium membership just to get these additional bonuses.
A travel savings plan is another expense that you’ll have to endure at either membership level. This plan is a card that gives you the ability to pay reduced travel expenses. Additionally, it’s tied into setting up your monthly purchases automatically. Basic members pay $250 for the travel card and premium members are expected to pay $500 for the same card.
Overall, just to become a member of this organization, you’re going to pay anywhere from $500-$1000 upfront. This doesn’t guarantee that you’ll ever sell precious metals or make even one penny of your money back.
7K Metals Compensation Plan
Like the wide majority of MLM companies, this organization has a compensation plan that is difficult to understand and it’s very complicated. I’ll share the simplest breakdown possible.
You can earn money by selling coins, memberships, and renewals. And you’ll receive points based on your success in those endeavors.
As an example, recruiting a new member gets you 100 points. Selling a coin, on the other hand, only earns you 20 points.
There is a different monetary value attached to each of these points, and this all depends on your ranking within the company. You’ll gain a higher rank when you sell more assets and recruit more people.
The point value pyramid structure looks something like this:
- An Associate level receives $1 per point earned
- A Copper level receives $2 per point earned
- A Bronze level receives $4 per point earned
- A Silver level receives $7 per point earned
- A Gold level receives $14 per point earned
The highest-paid level is the Gold level membership, but it’s very hard to achieve this level within the organization.
MLM Scheme Problems
MLM marketing is a very specific strategy that makes it possible for the people at the top of the pyramid to make a huge amount of money, but those at the bottom tend to lose money as they kick it up to the top. You really have to be able to climb the ladder in order to make money in this scheme, and the people that founded the company at the top are raking in the big bucks.
The biggest MLM problem is the way it’s structured. You can never have everyone making money in this structure, so the majority of people always have to lose.
But with 7K Metals, this isn’t always the case. No one is forcing you to participate in the referral program. But making money via referral is the fastest way to earn, and selling only precious metals will put you head-to-head against many great businesses in a competitive marketplace.
And for those who want to buy precious metals to add to their portfolio, you can find companies to buy these metals without paying all of these extra fees. 7K Metals has the ultimate goal of providing people with gold and silver products that they ultimately resell.
The wide majority of people who join this organization fail to make money. In fact, they end up losing a lot of money over the long run, but the person who referred them is usually well compensated.
If it’s your goal to run a small precious metals business, you can get your supply from many dealers without paying membership fees. This is a cheaper way to enter into the same business without the extra expenses.
The Rarity of Achieving Success in This Industry
It’s very difficult, so people shouldn’t be surprised that it’s rare for individuals to have real success in a multilevel marketing business. And this holds true for the 7K Metals business as well. According to research focused on MLM companies, it’s estimated that 99.9% of the people involved end up losing money.
You will not receive financial data from 7K Metals discussing the success and failure rate of its customers. This is a major red flag, and it’s an indication that most people typically do not have good results. Additionally, there are a wide range of people reporting that they lose money with this system.
Strong competition is one reason why it’s hard to make money in the precious metals MLM scheme. It may seem easy on the surface, but there are so many accredited dealers in this market that it’s nearly impossible for the average person to compete. Small business owners can succeed but it’s rare if anything. And to achieve success, developing a reputation in the industry is important and it could definitely take years to establish.
If you join this company, your best chance at making money is selling memberships, not precious metals. You’ll have to perform high-energy sales pitches to succeed at the upper levels.
—> We also invite you to read about SDBullion.
Making Money with 7K Metals
According to the company, you can make money as a precious metals reseller. This is possible without the company’s help because you could buy from qualified dealers without paying a membership fee. So, if you really want to make money, your best bet is to join the company and sell memberships. Of course, you have to pay the membership fee to gain access to this level, but it’s the best way to make profits and there’s no guarantee it’s going to work.
Do the following to get others to join the company through your affiliate link:
- Promote the business via social media and encourage people to join
- Let everyone know how you started in the business, share your story about how you’re making a lot of money
- Pump up the company through online meetings
- Encourage your recruits to recruit new members into the company, which will help you make more money
This business is all about recruiting, and the more you recruit people, the more commissions you’re going to make. You’ll earn commissions on their purchases and any purchases that their downline makes. So, it’s encouraging to continue to get your participants to bring in more people into the business.
What about those big membership fees? That money goes to the founders of the company, and you’ll never see a penny of it so don’t even try to get your hands on it.
The company known as 7K Metals is an MLM scheme that suffers from the typical problems of the majority of multilevel marketing businesses. Plus, they are in a very difficult space to begin with, so it’s even harder to make money in this business.
You do not have to get involved with this organization if you choose to sell precious metals. You can purchase precious metals from qualified dealers without paying additional membership fees.
The members of this company make their money by recruiting other members. If you don’t feel like becoming a recruiter and a cheerleader for the organization, then this business model likely isn’t for you.
In truth, the business model is very lucrative for the founders, but it isn’t the greatest system for the people being recruited.