What Is My Business Venture About – Are You Entering a Kill Box? Look Closer

What Is My Business Venture About – Are You Entering a Kill Box? Look Closer

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 Scamscheck out THIS instead! You’re gonna like this.]

Quick Review

my business venture logoName: My Business Venture (aka MBV)
Website: mybusinessventure.com
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.

 

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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.

My Business Venture Whois lookup information

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.

Example of MBV turnkey website menu

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):

BBB acredited A+ to the My Business Venture

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 complaints

My Business Venture Services

These are the main Website Services and Marketing Solutions that they offer:

The Website Services include:

  1. Website hosting
  2. Domain registration
  3. Video Spokesperson
  4. Web Builder Software

The Marketing Solutions include:

  1. MBV University
  2. Social Media
  3. SMS Chat
  4. Search Engines
  5. Website Verification
  6. Custom Logo
  7. 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.

Seriously? Seriously!

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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.

See yourself:

My Business Venture, Get Started Today form

Surprisingly, no pricing plans are given. You are left to pick a package and fill the form (including submitting your credit card details):

you must give your credit card informationThis is very alarming to say the least.

[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.

Final Verdict:

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.

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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.

Stay safe,
Egon (EgonSarvReviews.com)

 

8 Comments

  1. I purchase one of there plans. I had the same issue Ashly and Don. After you make your purchase that tell you the only why you can make money is by investing over $7,000 in advertising and that they are the experts.
    As much as I advertise myself and did research on the items that were on my website. The products are junk and outdated.
    On facebook they used to rating & comment section they got rid of it. I was going to give them a bad review and warn people to stay far far away from this company!!! Its a Scam!!
    All I know is if you want your own online business do your research. You will find the key to success! Get your business license, tax Id, find your product, find a supplier, (no manufacturer will give the time of day if you don’t have your BL) Register your business name. That’s the basic of starting a business!:) So anyway stay away from all them scams like MBV!!

  2. I wish I had read this article before I signed up for them earlier this year.

    Everything this article says is true and I could add to it.
    1. They claim they have support, but all their support tries to do is sell you additional packages on top of the initial ones. For example $499 to set up:Facebook, Instagram, Twitter, LinkedIn, Blogger, Pinterest, and Google+. $499-$999 toast up a Facebook store. $295. For the webspokesperon. $395 for a predetermined everyone gets the same web sliders, $395 for a package that enable people visiting your site to contact you (not them) for questions about product. $395 t one able to add products from other sources to your site. $295 to be able to have a “professional;” email address.
    2. I launched another business and it is getting lots of traffic to the site without me promoting it. It does not do sales though just info on the product. The MBV site is averaging 1-2 people a day and that is with Facebook posts, Linked-in posts, blog posts, Craigslist, posting to other online classifieds, running adds in paid papers, handing out business cards, and many other things. There is something wrong when an unpromoted site gets more traffic than one that is.
    3. The article is correct in that everyone gets the same product, but the markups are not even 35%-200% to begin with. Sure some are, but there are also many that are less than 10% some are even at negative margins. Very few product (mainly fragrances are over 65%). And as the article says to make them competitively priced one has to drop the price even further. I have had to remove over 500 products, because if I try to promote the site by offering a 10% discount on the site it drops them to a loss.
    4. There are many products that are not categorized properly and so they cannot be found, when contacting MBV about it they say they have no control over that contact the drop shipper. The drop shipper won’t respond. The improper categorizing also makes thing look over priced because they have many bulk buys that are not categorized as such and do not say that in the item title.
    5. They claim they have training, but the training is a pathetic joke. It is a few short webinars and one 1on1 with someone who bumbles and stumbles through basic, or wrong, or inapplicable information like someone who is failing 6th grade speech class. The “ums” and the “likes” were almost unbearable.
    6. The article is correct in that they don’t have the site up until after the return date, but it is more like day 7 and then they start telling you this site won’t work unless you buy these other packages.
    7. They also tell you that if the site isn’t working to just try selling on Ebay and Amazon to promote the site, but you have to pay extra shipping charges often equal to over $9.00 per an item to do this.

    Stear away from them.

  3. I actually bought this so called franchise and I can tell you first hand that it is a total rip off and a scam.
    When I initially inquired with the owner, Thomas Stridiron, about the franchise, he called me consistently trying to convince me to buy into it. He made it seem like I would be trained on his proven systems (like any franchise would) to guarantee my success.
    What franchise doesn’t want their franchisee to succeed?
    It turns out that to get the training one would need to actually be profitable, you would have to shell out an additional $300 – $500 per course!
    The Franchise itself costs $5,000. I did the payment plan with $1,000 down and about $100/month.
    They make you use their hosting company which runs you about $400/year. I can use my own hosting company for cheaper, but they say you have to host with them to have the “back office”.
    Then they have the service fees for the merchant account (which I didn’t use because I didn’t make ONE sale) and that ran about $50/month. There were a few times were they double charged me and I had to complain and had my money refunded twice.
    The domain name is ridiculously expensive. They are basically buying it from Go Daddy and charging you more than double. I complained about this and then they transferred it to my Go Daddy account.
    It was very frustrating trying to get the store going with zero help. I didn’t know what I was doing.
    I bought this franchise thinking that I would actually get an education on how the drop shipping business works so that I can run my store profitably.
    With the money I spent, I would have been better off buying a few items wholesale and trying to sell them on eBay or Etsy. I’m just going to call this the school of hard knocks. A very expensive lesson indeed!
    The store was stocked with basic items that anyone could buy anywhere. I didn’t get to choose what I wanted for my store. When I asked if I could pick what to sell in my store, I was told that was another package which cost even more money.
    So exactly what did I buy here?
    They really sell the logo that they create for you. Um…I can create my own logo! As a matter of fact, I can build my own store.
    What I really needed to learn was how the business of drop shipping works, which Thomas led me to believe that buying his franchise would do that.
    The only thing this business is definitely good at is selling their franchise and scamming people out of money.
    I had to tell them to shut it all down because it wasn’t working for me.
    They didn’t even show empathy or try to help me in any way. They said I still have to pay the balance, even though I’m not using the store and it never produced income like I was led to believe. They are calling me every day now and threatening to turn my account to collections. I don’t have any money to pay this bill because I didn’t make any money.
    So save your money people and learn on your own because “My Business Venture” is a scam.

    • Hey, Ashley, and thank you for sharing your experience with the My Business Venture scam. It is just sickening how they deceive and then treat their customers. You have paid a lot of money without getting the service they have promised to give you. Maybe you can report to feds or something? They just cannot rip off people like that and get away with it.

      The only good thing here is that other people can (and will) read about your experience and avoid that ugly trap called My Business Venture.

      For those who are still on the fence – Please read Ashely’s comment and think if you really want to end up like that?

  4. I, for one, would like to see the replies of other people posted here. My only other feedback is that the “fees” quoted are for payment processing. That’s the price paid for accepting credit cards for payment, and is a part of doing business that way. To throw MBV under the bus by attributing those fees to them is unfair.

    • Hey, Kevin, and thank you for the feedback.

      I went and rechecked their pricing plans (in their *other* website). However, all I see, are 3 different plans with the lists of what these packages include. OK, let me pick their “Enterprise plan” ($3995.00), hit the SignUp button and see what happens.

      Well, it will take me to their signup form where I am required to submit my credit card data.

      Their application form says that after filling and submitting the form they are going to contact me and… ( I will quote): “I understand that after I complete this agreement, a representative of MBV will contact you and we will send a full set of agreements to review and endorse to complete this transaction.”

      In other words, I have to shell out $3995.00 to get their Enterprise plan. Am I right? And that’s what I wrote in the review. I could not find any information that these fees are for payment process only.

      Plus, these fees were not the only reason why I considered MBV a scam. There were other red warning lights as well.

      If you still disagree with me, please let me know.

      Cheers,
      Egon

  5. Hello,
    I appreciate your candid review of a company I was considering investing into. I will continue to do my homework and thank you for your input which helps me get off to a great start. Keep writing!

    • Hey, Teresa, and thank you for your feedback. I am glad to hear you found the review helpful. And thank you for the kind words as well :)

      Doing a homework in the first place is very wise indeed. Because that way there is much less chance that you fall victim to some wicked online scam.

      Just remember – Never trust those offers that promise you a great fortune (or whatever income it is) by tomorrow (or next week). Get-Quick-Schemes are almost certainly scams. Real, genuine, and legit ways always require time and work. At least in the early stages. And especially if one happens to begin as a novice.

      But it is possible. Be very encouraged. Making full time income online is absolutely possible. And one of the best place to learn that (in my humble opinion) is here. Click, read, and see if it can help you.

      Cheers,
      Egon

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