Much controversy surrounds multi-level marketing (MLM) companies, and none more so than QuestNet. This article gives the company profile of QuestNet and talks about whether the company is legitimate or if it just a pyramiding scam.
Who is QuestNet?
QuestNet traces its beginnings in 1998. Initially, it dealt exclusively in selling collector coins and medallions, eventually earning a reputation as being one of the world's leading companies in numismatics. Eventually, the company expanded their product line, including other kinds of jewelry, luxury watches, health and wellness products, household products, and even vacation packages. Aside from retail, the company has also delved in telecommunications, also investing in radio stations.
Strictly speaking, QuestNet is unlike other kinds of MLM companies in that it neither has physical distributors that sell the products, nor does it require those who are part of the network to reach a certain sales quota each month. Instead, it has independent representatives (IRs) that earn money by referring people to QuestNet, effectively making the organization a mail order retail company that makes use of MLM strategies to get the word out on their products and services. Because people don't have to deal directly with inventory management and don't require a big capital in order to earn in QuestNet, a lot of individuals have become interested in joining the organization, with most doing so in order to supplement their income. A person can earn as much as $2,400 per day, depending on how much effort he or she makes in promoting the company. See this QuestNet presentation for more details.
Another difference QuestNet has with conventional MLM companies is that IRs can have unlimited operating accounts, which theoretically gives them an unlimited source of income, while other MLM organizations limit their members to having only a single account at a time.
Today, QuestNet has over 5 million IRs worldwide, establishing and maintaining their presence in over 160 countries.
Is Questnet a Scam?
As with other companies that operate using networking principles, a lot of critics have come up and accused QuestNet of being a big scam, with some of the accusers previously serving as some of the company's IRs who didn't manage to make a lot of money even if they were involved in the company. The controversies surrounding QuestNet has left a bad taste on a lot of people's mouths, and they automatically believe the naysayers simply because they have the loudest voices.
The truth, however, is far from what is being widely publicized. QuestNet is in fact a legitimate business. The reason why it has received so much negative flack is that, being one of the companies that make use of MLM models, the company has automatically become attached to the pyramid schemes that have victimized thousands of people globally. The fact that QuestNet has been in the business for over 10 years and is a trusted brand by even some of the biggest events and companies, including but not limited to the 2000 Sydney Olympics, the 2008 Beijing Olympics, the 2004 Athens Games, and the Federacion Internationale de Football Association (FIFA), to name a few is a testament to its legitimacy.
While it's true that there are some IRs that don't make a lot of money even if they joined QuestNet, that is mainly more their fault than the company. All too many people join QuestNet and other MLM companies because they believe that these organizations can make them get money quickly and easily. However, like other legitimate companies, the income of the IRs will depend on how much effort and commitment they put into their work. Simply put, if they don't work, they don't earn.
The fact that it has weathered several criticisms and controversies is testament to the enduring nature of this organization. QuestNet is a reliable company that seeks to share their financial success with hardworking individuals who are willing to take the time and effort to earn extra income.
