Prepaid Legal Business Opportunity – A Third Party Assessment

If you’re looking at the Prepaid Legal business opportunity, or indeed any MLM, it is important to get some knowledge on where the company came from, what it is doing today, and whether or not it might be a good fit for you.

Company
The Prepaid Legal business opportunity was started by Harland C. Stonecipher after an accident in 1969 left him with large legal bills. The idea was to create the piece of mind for the members that if anything should happen they already have legal advice to hand. Prepaid Legal began using the MLM marketing model in 1983, and has been one of the leaders of the MLM industry ever since. They market solely through network marketing, and today have over 1.5 million members in the U.S. and Canada.

Products
Prepaid Legal offers legal service plans utilizing a large network of law firms across North America. The plans typically offer free legal consultation, document preparation, will preparation, and defence for various auto related charges. They have also more recently added identity protection as a possible added bonus in their membership packages. While these products can be incredibly valuable, and have no doubt helped many people, not everyone who buys a membership would if there were not an opportunity attached. It is important to consider if this industry and these products are something you can get really excited about before joining the company. It can be somewhat similar to selling insurance packages in that you are simply selling piece of mind.

Prepaid Legal Business Opportunity
Prepaid Legal uses a direct sales compensation model. So when you make a sale, you get a commission. They pay daily, which is something they are particularly proud of, and you get advanced commissions. When you sell a membership for $26 a month you get a commission between $25 and $182.50 depending on what level of qualification you have, this represents the commission you would receive on the membership for the entire year. The downside of instant commissions paid in advance is if your memberships get cancelled within the first year, the company will initiate a chargeback and you will have to give back any advanced commissions that you didn’t earn. Remember with this type of MLM opportunity the more people you recruit, the more money you make as you also make percentages based on the sales that are happening within your organization.

The downside of this opportunity is that it is a little bit outdated. They recommend talking to friends and family, and primarily promote selling the plans and the business on a face to face basis. While this did work well when the company first started, this method of advertising will make you fail, and fast. You need to be able to leverage your time and efforts using the internet and the tools that are available to marketers today. If you don’t have a strong marketing plan, and you aren’t using the power of the internet you are unlikely to recruit people into your business, as they will join a company that is more up-to-date and can help them learn to build an online business empire. With all the options out there today, you need to be able to offer a clear, easy, and efficient way to market for your recruits.