SMS Masterminds Review

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I ran across this business opportunity on a site that advertised business opportunities. It billed itself as a loyalty/web marketing company. I was interested as I have an IT background and have worked in marketing for years, and developed enterprise class loyalty systems. The business seemed very straightforward. Customers sign on with the licensee to manage a text messaging platform that builds off of a loyalty kiosk. My sales rep told me that the average customer account was worth $300 a month. He said that they were so sure of their business model that they offered a Smart Start Guarantee. That if after 6 months of working their system I did not have 10 accounts or $3k/month in revenue, I would be entitled to a refund of my $35k investment. That was a no brainer. | Here is the exact guarantee: | 5. SMART START GUARANTEE SMS Masterminds guarantees that either within 90 days of the completion of the three day on site training visit or within 150 days of the effective date of this Agreement whichever is longer, Licensee will either 1) have 10 merchant accounts, or 2) merchant revenue of $3,000. If neither event occurs, then Licensee shall be entitled to a refund of the Business Development Package Fee. The foregoing notwithstanding, to be entitled to the refund, Licensee must complete all the following requirements within the specified time frames: * Full payment of the Business Development Package Fee within 30 days of the effective date of this Agreement. | * Completion of the SMS Masterminds Boot Camp training course within 60 day of the effective date of this Agreement which includes but is not limited to completion of the authorize.net account, and confirmation of final business name and logo. | * Schedule and complete 6-10 merchant sales appointments for the three-day on-site training visit (this is in addition to the SmartAppointments scheduled by SMS Masterminds). These Licensee scheduled appointments must be scheduled per the Boot Camp requirements at least 24 hours before the three-day on-site training visit begins. | They also told me that they had an internal team of appointment setters that would schedule me appointments. How could I lose? This is also part of the scam. I went on over 70 of these appointments, and closed 1. This is not because I can’t sell. I have been a successful salesperson my whole life. The program is not something most merchants want. On top of that, it isn’t the latest and greatest technology in the space. There is a lot of competition from better sources, with less expensive and more robust solutions. One month from the date I was eligible to get my refund I sent my account manager an email stating my intent to request my refund. His only reply was that I wasn’t eligible yet, and that I needed to wait. One week before my eligibility date, he called to ask if I would be willing to consider alternatives. He admitted to dropping the ball by not giving me the support I needed to succeed, but promised he would do better if I just gave them more time. I told him thanks, but no thanks. | The next day he sent me an email advising me that instead of honoring their guarantee, that they would assign me 10 accounts, and that I would never get my money back. Here is the exact wording form his email – “in an effort to be as transparent as possible, there isn’t a scenario that exists which would lead to the guarantee not being fulfilled, and thus, no situation which would lead to SMS Masterminds issuing a refund of any kind in regard to the guarantee.” His boss Charles Gerencser then made it clear that they would assign me contracts and that would fulfill their obligation under the guarantee. If you read the guarantee you can see how deceptive it is. It does not say that they maintain the right to assign you contracts to meet the threshold. On top of that, the accounts they assigned me were not even in my territory. There is a clause in the contract that states you cannot sell outside of your assigned territory, yet they assigned me contracts all over the country. | All in all I would advise anyone that is looking at SMSMM as a business opportunity to stay away. They are fast talkers. They will not honor their guarantee. I do not want to see anyone else taken advantage of by these guys.

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  • Name: SMS Masterminds
  • Country: United States
  • State: California
  • City: San Luis Obispo
  • Address: 805 Aerovista Ln #204
  • Phone: 877-541-8398
  • Website: smsmasterminds.com/

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