At first glance, My Business Venture appears to be a great service and an awesome work-from-home opportunity…
…The service that facilitates website creation and hosting, along with e-commerce capabilities and marketing tools for people with a small at-home or online business. However, if you don’t currently have an online business, My Business Venture will give you one.
So what is My Business Venture about? Let’s take a closer look at My Business Venture review and see if this is worth your time and money.
[Sidebar: If you are not interested in Scams, check out THIS instead! You’re gonna like this.]
Name: My Business Venture (aka MBV)
Creation date: 2003-09-10
Niche: Online webstore business
Price: Starts at $495 + $99.83 per month
Alleged Skill level: Beginner
My Overall Rank: 0 out of 10
My Verdict: My Business Venture is a scam. Stay clear if you don’t want to end up in tears.
Better (and way cheaper) ALTERNATIVE to My Business Venture that will help you make $1200+ a month online. And these testimonials are proof.
Why not give a whirl right now?
Full Review – What Is My Business Venture About
Put simply, My Business Venture is a “built for you online superstore” business. They have been in business for over 23 years already and that’s a good sign.
Why is it a good sign? Because those programs that are downright scams tend to have a very short lifespan. After doing their job (i.e. ripping off their target audiences) they disappear or get rebranded.
Back to the MBV business model.
MBV offers a simple dropship business model, where they provide an inventory of up to 15,000 products, and a turnkey website, along with payment and shipping. All the business owner (you) needs to do is market the products and keep the profits. This is an entirely familiar business model, seen frequently online.
So what products are you supposed to market?
Well… My Business Venture products include all kind of electronics, bath and body products, automotive supplies, items “As Seen On TV,” and so forth.
The company presents itself as a way to make money online with no skill or training; they do everything for you and offer training and 24-hour support.
My Business Ventures also brags that it has an A+ rating with the Better Business Bureau (BBB):
That, of course, primarily because they have a history of responding to complaints made there and resolving them. They have, however, received 27 complaints in the past 3 years:
My Business Venture Services
These are the main Website Services and Marketing Solutions that they offer:
The Website Services include:
- Website hosting
- Domain registration
- Video Spokesperson
- Web Builder Software
The Marketing Solutions include:
- MBV University
- Social Media
- SMS Chat
- Search Engines
- Website Verification
- Custom Logo
- Professional Video Service
MBV University – According to their own words, MBV Univeristy is created “to help small business owners receive continual education on how to successfully run an online home based business and to help you Profit from the Experience.”
Here’s what the university offers:
- One on one training
- Visual online training
- Access to Student portal
- Live support and help
- Custom appointments
- Cost efficient results
Social Media – Again, according to their words these are some of the benefits: Easy to set up, gain following, social exposure, low cost advertising, etc.)
Custom Logos – They have hired a professional graphic designer with the sole job of creating professional, customized logos for all of My Business Venture clients.)
Live Chat Solutions – This is a piece of program that “allows any website to easily add a Live Chat System.“)
So far so good. So what’s the problem?
The Problem With My Business Venture
If an entrepreneur makes an educated decision to enter a dropship business, that’s one thing.
But My Business Venture aims itself at uneducated consumers, people who are ill-equipped to market an online business and who don’t understand that marketing is the most difficult part.
My Business Venture offers a business model that makes it difficult to be successful. Truth be told, I hesitate to say, “sets their customers up for failure,” but that is very nearly the case.
By setting up new business owners with the same exact inventory that is offered on thousands of other websites, with a design template, language, and capabilities that are identical to thousands of other competing websites, the task of marketing these products profitably becomes even more difficult than online marketing is in normal circumstances.
Despite My Business Venture’s claim that their products can be sold for a profit of 35-200%, in practice, the widespread availability of these products makes that impossible.
So therefore, My Business Venture store owners are forced to drop prices in order to be competitive, but still have to charge a higher rate than that of the open marketplace because they have to pay monthly fees to My Business Venture.
Of the many My Business Venture complaints, this is the most common one: that the products CAN’T be sold, and if they are, they cannot be sold profitably.
Does That Make My Business Venture a Scam? Keep reading.
Is My Business Venture a Scam?
Simply selling a dropship business to customers who aren’t sophisticated enough to understand the complexity of the undertaking doesn’t make it a scam.
Here’s what makes My Business Venture a scam, though:
Red Flag #1: Lack of Transparency
The mybusinessventure.com website repeatedly encourages visitors to sign up now via a signup sheet that includes their credit card number, without EVER disclosing any pricing information up front.
Surprisingly, no pricing plans are given. You are left to pick a package and fill the form (including submitting your credit card details):
[Sidebar: Package prices are disclosed instead at mbvsites.net. But how on Earth do visitors of mybusinessventure.com know that? The answer is – They don’t.]
Red Flag #2: Cheating the Return Window
Customers have 3 days to cancel their contract, but My Business Venture doesn’t have their new website ready for them to review and begin to customize until the 4th day, after the cancellation window has closed.
Disgusting, do you agree?
Red Flag #3: Predatory Fees
Because they don’t disclose fees up front, and the resolved BBB complaints are hidden, it is difficult to determine what My Business Venture actually costs.
You have to go to a different website altogether to find the prices.
- The Standard package costs $495 initially, then $99.83 per month for 36 months.
- The Diamond package costs $2795 and includes 24 months of search engine submission.
- The Enterprise package, that includes “MBV university training,” costs $3995 up front.
It gets worse, though.
They also charge 2.19% plus $0.20 per transaction, plus a $15.95 monthly e-commerce fee. They also charged a customer $240 for “Google verification,” according to his complaint on a different website.
Can you imagine!
These fees are outrageous and designed to take advantage of ignorant people by telling them that it’s an investment, and that it’s a low price to buy an entire turnkey business. It is neither of those things. For the cost of the Enterprise package, people could go to a real university and learn internet marketing from unbiased experts.
Nothing that My Business Venture offers is worth the fees they charge for it.
Presumably, a person could simply purchase web hosting or marketing services from My Business Venture, without buying their dropship store. At least, that is implied on the website. But prices for those standalone services are not disclosed, and one could reasonably assume they would be outrageously inflated.
The Good News About My Business Venture
The good news is that they appear to be trying to maintain a good online reputation.
They respond to many visible complaints and negative online My Business Venture reviews and try to resolve the issue. Whatever motivates that behavior, it’s good news for unhappy customers, because public, visible complaints appear to elicit a response and resolution. This is not always the case with internet scams.
But several My Business Venture customers have received refunds in this way, so that’s something.
The My Business Venture scam is arguably the worst way for a newcomer to enter the world of online businesses, e-commerce, or internet marketing. Why? Because it is specifically designed and intended to take people’s money and blame them for their losses.
Some internet scams teach marketing skills at an over-inflated price, taking people’s money but at least giving them some knowledge. It’s possible that a very enthusiastic learner could get the same advantage from My Business Venture. But remember – It is also clearly not designed for that.
My Business Venture is designed to reach a customer who doesn’t know what they are doing. In fact, they discourage comparison shopping, standalone services, or even fully informing people before they take their credit card information.
Verdict: My Business Venture is a scam and should be avoided.
If you’d rather make money than get ‘raped’ of your life savings… Why not try this? It’s FREE to get started, too. You’ll like that part…
Why THIS is risk-free for you. Look closer and you’ll see why.
What About You?
First, thank you for reading the My Business Venture review. I hope you found it helpful.
Second, here’s the question found in the headline – What is My Business Venture about? So… What do you think? Is the MBV platform a legit and real business opportunity or not? Please drop me a comment into a comment box below. I’d like to hear from you.