Big name. Big promises. Unfulfilled expectations – The Mega Holdings network marketing scheme
- 1 Big name. Big promises. Unfulfilled expectations – The Mega Holdings network marketing scheme
- 2 The origins of Mega Holdings network marketing
- 3 The Mega Holdings Products
- 4 Mega Holdings MLM opportunity (LTE Simple Business Concept)
- 5 How much does it cost to become a Mega Holdings representative?
- 6 Mega Holdings MLM compensation plan
- 7 The Pros of Mega Holdings MLM
- 8 The Cons of Mega Holdings MLM
- 9 UpDate:
Hi and welcome to another MLM review. This time on Mega Holdings.
Mega Holdings is a multi-level marketing company specialised in web design and development.
With everyone aiming to grow their online presence, Mega Holdings MLM seems like the perfect MLM opportunity.
But let’s take a look at Mega Holdings MLM and see if it’s worth your while.
|Product Name||Mega Holdings|
|Product Type.||MLM Web Design, Hosting & Network Marketing|
The origins of Mega Holdings network marketing
Mega Holdings is not your average, new web design company. In fact, it’s been around for a while, well before having an online presence was deemed important for the success of a business.
Built from the ground up in 1999 by network specialist, entrepreneur, great mathematician and mentor, Michael Cheng, Mega Holdings is a user-friendly web-building platform.
Strangely, Mega Holdings uses .org instead of .com for its domain name, indicating that’s it’s more of a charity, education or government website—which is somewhat misleading.
Although the company’s mission is to provide anyone without prior IT technical training, knowledge or skills the chance to build a professional website, Mega Holdings is an MLM business.
Talking about the company, Michael Cheng says:
“Our quality product development is unique and has no comparison in the market.”
The company is registered in Hong Kong and, in 2004, it was incorporated in the Labuan Financial Services Centre, Malaysia.
The Mega Holdings Products
The Mega Holdings product line includes the most important things people would need to successfully launch a website. The Mega Product Package includes:
- Domain registration
- Website hosting
- Email hosting (New Webmail Collaboration System): an impressive webmail service that includes mobile webmail interface, anti-spam, collaboration service and other features.
- Easy website builder (EDC Website builder): premium themes to choose from and customise.
From buying a personalised domain name to putting your website on the internet for everyone to find, Mega Holdings helps people save time and money.
They make building a website easy, one that also protects your data from online hackers.
Mega Holdings MLM opportunity (LTE Simple Business Concept)
Anyone interested in becoming a reseller or representative can join the Mega Holdings MLM programme by contacting a sponsor in your country and purchasing the Mega product.
As stated on their website, the process works like this:
- Learn to master Mega product usage from your sponsor.
- Teach & train 2 or more friends on product usage.
- Earn potentially unlimited income when your down lines’ sales organisation grows.
As a Mega Holdings network marketing representative, you’ll provide one-to-one product use and product knowledge, covering topics such as:
- Business training
- Personal development training
- Why choose Network Marketing?
- Handling Invitations & Rejections
- Effective Presentation
- Interpersonal/organising skills
- Goal-setting & follow-up
- Building a salesforce
- Motivation & Team building, etc.
How much does it cost to become a Mega Holdings representative?
If you want to join their MLM scheme, you first have to contact a Mega Holdings agent in your country.
You then have to pay $588, plus 2 $6 activation codes. This gives you access to the ECD Website Builder tools and you can start building your website.
By building your own website you familiarize yourself with Mega Holdings and, consequently, you can better sell its services, discuss pros and cons, and answer questions.
Mega Holdings MLM compensation plan
Ironically, their website is a bit messy. So finding information in what at first appears to be a clean website is not as straightforward as it seems. See for yourself here.
Going by what is circulating online, it would seem that representatives earn %5 commission on all sales and 5% for all package renewals.
That’s $30 (5% of $600).
Plus, $120 for every package that your downline sells.
Honestly, that’s peanuts. It’s downright shameful.
The Pros of Mega Holdings MLM
Mega Holdings developed an original MLM software way ahead of their time. Their products and services are simple and accessible to all.
The Cons of Mega Holdings MLM
I’m baffled to see that Mega Holding seems to have been off the radar since 2014 – 16. There is very little news about them, which is very puzzling for a company that deals with building websites to create an online presence.
Maybe it’s not a coincidence that the same year, Mega Holdings was also accused of operating a Ponzi Scheme in Turkey. A Ponzi scheme means that first investors are paid back with the money provided by late investors.
So basically, nobody is making any real money, it’s just a redistribution of capital.
A big downside to the Mega Holdings MLM opportunity is that nobody is going to pay $600 just to become a Mega Holdings representative.
But if you happen to use Mega Holdings just for its website services (without joining their MLM programme), and you like it so much that you decide to join their MLM programme so you can earn a few bucks.
Honestly, there are faster and cheaper ways to building a website. You’re very unlikely to sell the Mega Product or recruit other people.
Mega Holdings did offer an original MLM opportunity, but there’s no place for it anymore. Although it tried to keep up with the times by offering new web features, the prices are just ridiculous and the MLM opportunity archaic.
In 2021, Mega Holding should either focus on only offering website building services or offer better compensation plans to keep their MLM programme running.
Take a look Mega Holdings slide from favor.
Rating: 0 /10
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