lyoness

[The Bog Savage]

Hi guys anyone heard of this lyoness outfit ? They are "An international shopping community"and are active all over the world they claim
offer cash back with every purchase with their high street partners.
I am fro the North and its creating alot of chat at the minute.
For ex Tesco in the south are offering 8%discount !Thats wat got my attention .other partners are asda argos m&s b&q and many
more.
Membership to the shoper is free but to be a business partner I will have to put 1800 pound into my future purchase account to
enable me sign p otther shopers and earn a percentage of thier spending it sound good has anyone any advice ?

[ziggysego]

Sounds like a pyramid scheme.

[mick999]

Have a read through this thread ..

http://www.boards.ie/vbulletin/showthread.php?t=2056384591

[Gazzler]

Don't suppose you know anyone that works for them Bog Savage??

[muppet]

Was checking it out abit more t day ziggy sounds like it is a legit business as has got the thumbs up from 5 continents and has the tuv cert and iso9001.
Couldnt see the big major bluechips etc trading with a pyramid.
also seen the sunday business post in dublin article from small business federation advising people with
small businesses to become loyalty partners.
This is the link have a look www.lyoness.net/GB/
App 2mill members worldwide and 18500 Tading partners
Looks very appetising at this early stage

Ever heard of Madoff?

[Sigersonbhoy]

I recently signed up to Lyoness. I only bought 3 units (£45 each). I can see why people are sceptical but I have already saved a good few pound buying stuff that I would have been buying anyway. An example is my washing machine packed in and I got around 6% discount on my new one from Currys.
Also the 3% discount with ASDA is very useful as we would spend at least £100 in there every week anyway.
The downside that I see is that you have to plan your shopping more than usual as you have to buy top up cards or vouchers for each retailer.
I would expect my 3 units to pay me back within 5/6 months as there are already a good few units purchased behind mines.

[Thefisherking]

If it walks like a duck, quacks like a duck and looks like a duck..its a duck. I heard about it a month or so back and thought imediately..pyramid/Madoff.

Schemes like this are rarely what they promise to be, unless you're in early you've little chance of making money in the short or medium term.

I remember one back in the early 90's built around a telecoms idea. People got their fingers burnt there also.

[muppet]

Takin all the above points on board lads still cant figure out how for exaple Harods in london walmart apple sony ferrari etc with massive legal branches who would not sign as a trading partner if it was a pyramid.Also see they sponsor the austrian golf open I dont no whether to go for it or not but i do know a man who has got back 10k from 1800 initial downpayment.Undecided

I already answered this by asking you if you ever heard of Madoff.

[brokencrossbar1]

Lads its a genuine business and multi level marketing businesses are as legitimate and successful as any other business.  I have looked at it a bit and it is kosher but I do not see the value in the buy in, I just feel it is too expensive for the potential return.  If you want to invest money in a network marketing business there are many of them out there which are longer established, and more reliable with less of a risk of losing out.  Avon, Herbalife, and many others are all similar business and money can be made from them all but it simply depends on how you operate it.

[brokencrossbar1]

Takin all the above points on board lads still cant figure out how for exaple Harods in london walmart apple sony ferrari etc with massive legal branches who would not sign as a trading partner if it was a pyramid.Also see they sponsor the austrian golf open I dont no whether to go for it or not but i do know a man who has got back 10k from 1800 initial downpayment.Undecided

They deliberately use the term 'trading partners' to describe the relationship - essentially these are cashback companies - there are hundreds of them on the web - in return for 'marketing' their product the vending companies agree to sacrifice a commission element to these companies. Depending on the product the margin will be sacrificed. As I said earlier 'smart' shoppers will use these cashback companies before they buy anything. I'm sure we all have our Texaco/Sainsburys/Tesco cards, this would just be another one, unfortunately you dont just get your cash back relatively quickly like with Quidco, but you have to effectively pay for the pleasure.

BC1 - MLMs are not illegal, but their business ethics should come under greater scrutiny. The guys who make money at this at the start will be primarily making their money from deluded mugs who are putting in their £1,800, for want of a better phrase.

Completely agree with you and that is why I won't be investing any money in this.  There are plenty of good MLMs that stand up to the fullest of scrutiny, I just don't see this as one that i would recommend.

[LeoMc]

Takin all the above points on board lads still cant figure out how for exaple Harods in london walmart apple sony ferrari etc with massive legal branches who would not sign as a trading partner if it was a pyramid.Also see they sponsor the austrian golf open I dont no whether to go for it or not but i do know a man who has got back 10k from 1800 initial downpayment.Undecided

Ah sure go for it. Let us all know how you get on.