Is vector marketing a scam?
We are hearing lot about scams, one of the hottest topic coming is the “vector marketing scam” now I don’t know about it but yet I have known a great reviewer and thought to share his research and reviews through my BLOG.
Vector Marketing is the network marketing company that handles the sales division of the “Cutco Corporation,” makers of fine cutlery, based in Olean, New York. We’ve all sat through the half hour meetings in the living room where you watch fancy knife demonstrations the whole time, right? Now don’t get me wrong, I’ve got love for Vector. They are masters at getting distributors to sling product to family and close friends by offering an enticing work from home opportunity.
Vector Marketing was founded in 1981, and they sell a product called “Cutco Cutlery.” Cutco used to have literally hundreds of people selling their product, then Vector elected to join the venture. From the beginning, Vector has always been a major contributor to the success of Cutco’s marketing division. Today, they are the primary seller of all of Cutco’s products.
Their home office is located in Olean, NY, but they have 250 independently run home offices throughout the U.S. Canada and Puerto Rico. However, during their peak season, which is the summer, they add an additional 300 offices due to the high demand of the product they market.
CUTCO Cutlery has been in the game for a while. They have been around since 1981 and produce high quality kitchen knives, hunting knives and kitchen accessories. They have sold their products to over 15 million homes. The knives are guaranteed forever, and the quality of their construction is why they sell over $200 million dollars of them every single year.
The CUTCO Corporation makes knives, shears and everything else associated with them. They make potato peelers, high quality storage systems and pots and pans. Basically, they make everything you may need around your house… plus pocket knives and hunting knives when you are ready to leave the comforts of home.
These high-quality cutlery items are guaranteed forever. This means not just for your lifetime, but forever. You will be able to pass them down to the ones you love at some time and they too will receive the same guarantee. “Forever.”
From paring knives, to butcher knives and beyond, all are constructed out of the finest grade steel and poly-resined handles. There has never been an unsatisfied customer.
They also produce items like pruning shears, trowels and transplanting tools for the garden. All are made with the same high standards expected to come from this brand.
Vector Marketing offers good pay, flexible schedules, personal growth, great training and the ability to sell great products without any personal experience in the sales industry needed.
Their representatives get paid whether they make a sale or not. This obviously takes away a lot of stress and creates a more relaxed atmosphere.
Most people who view the presentation you give are going to be inclined to buy the product. There are no cold calls, because everything is set up ahead of time through personal references of past customers.
Typically, Vector Marketing reps are students, yet anyone who is interested and motivated is encouraged to join the team.
The commission range is as follows, based on sales:
- $0-$1000: 10%
- $1000-$3000: 15%
- $3000-$6000: 20%
- $6000-$10000: 25%
- $10000+: 30%
You also receive a base pay of anywhere from twelve to twenty dollars for each appointment you set up. Bonuses are also provided if you keep a consistent sales percentage (see: Xyngular, Life Leadership, or Lyoness).
There is no start-up cost. Once you sign up with Vector you get a sample package to use as a marketing tool. The price of this package is $425. If you decide this isn’t for you, then you simply return it.
Your work schedule is entirely up to you. You set up appointments with potential customers through references. These may consist of friends, family, co-workers etc. Usually, when you give the person’s name of who referred you, the potential customer is agreeable to you coming over and making a presentation.
No experience in sales is necessary. They have weekly meetings where you are shown proven methods on how to sell the products. All you really need is an open mind, the desire to succeed and the ability to follow instructions that are presented in a stress-free environment.
You start out as a Sales Representative. However, within three to six months, it’s not uncommon for many individuals to move on to the next level which is a Field Sales Manager. These associates earn the highest commission possible.
The next level that can be obtained is that of a CUTCO Sales Professional. Many of these CPS have hit $150,000 in sales and are recommended for this position by their regional sales managers.
Another opportunity for those that are truly dedicated is the position of a Closing Gift Consultant. At this level you work with businesses and corporations to provide CUTCO products to their employees as a type of reward system.
There are four types of management positions:
- Assistant Manager
- Branch Manager
- District Manager
- Division Manager
Assistant Managers may work part-time or full-time while helping to manage and lead a local office.
Branch Managers get to take advantage of the Branch Opportunity and run an office for the summer. This means you will:
- Check out their territories and arrange office locations and space
- Establish a business plan and maintain relationships with local merchants
- Devise and implement advertising and sales management strategies
- Interview, train, and develop an active sales force
As a District Manager, you’ll run a permanent sales office within your geographic location.
Lastly, there is the position of Division Manager. A Division Manager handles the geographic area that has the District and Branch offices. They train the developing leaders, but must have successfully run a District office for many years before they get to this level.
Recap Of Vector Marketing Scams
I personally know someone who was a CUTCO sales rep in 1999. In less than six months he generated over $50,000 in sales in rural upstate New York. He loved it, he worked at his own pace, there was no pressure and he never had a dissatisfied customer.
He was named as one of the top 50 reps in the country for that year and was invited to spend a weekend in Olean, NY. He was able to take a tour through the factory where these products are made and really developed a greater appreciation of what it takes to make them the superior cutlery packages that they are.
Is this the case for all Vector affiliates? Not quite, but at least some people have had success.
Look, if you really believe in the products and you have a nice warm market to sell to, it might not hurt to give it a shot. Just don’t expect to build a home based business and quit your day job anytime soon.
As far as building a passive income business to set you up financially for the rest of your life, MLM isn’t the way to go. There are better ways to make money online that don’t involve selling products to friends and family.
Article is a true copy to = Jeremy Page