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My Business Venture – This Is My MBV Experience

I wanted to write a review on My Business Venture because when I was researching whether or not this would be a good business opportunity, I found it very difficult to find any real information from people that invested in it. Along with a review I am sharing my personal experience with My Business Venture to date.

What Is My Business Venture

My Business Venture (MBV) is a business opportunity that sets you up with a fully loaded eCommerce store. You get not only your website loaded with products, it is a turn key operation with merchant services, shopping cart, training on how to navigate and change the website, as well as some training on being a business owner and marketing. Your job is to then drive traffic to your website and WooHoo, you are now making money! That is not always an easy task by the way. The creator of My Business Venture is Thomas Stridiron, he has several You Tube videos and seems like a really upstanding guy. The company has been in business for over 20 years.

To Good To Be True?

Most of the reviews I found on MBV were from affiliate marketers that had looked at the business but had not invested in it. I feel qualified to write a review on MBV because I became an owner of one of their online retail stores. I want to share with you my experience so far. So, this won’t be unbiased, but I will try to stay objective and give you the information you need to know about the company so if you are looking into it you may have some insights I didn’t.

On You Tube I found a lot of short testimonials from people that purchased MBV. However, most of the testimonials seemed like they are from new owners, not seasoned making tons of money owners. Probably should have been a red flag.

I ran across MBV on a site when I was reading a review about another online opportunity, I wasn’t initially looking for it, but became intrigued. Once I started to try to do some research I found the company mostly advertises on franchise sites, it isn’t actually a franchise you don’t pay them any royalties once you purchase the store. It is your business totally to run how you want.

What Do You Get

There are 2 options to buy your online store with MBV, I purchased option 2. This was the more expensive of the 2 and had several options I thought would be valuable, listed is what comes with that option. I will go more into pricing later.

Here is what comes with the fully loaded option 2 –

  • A turn key eCommerce superstore with 15,000+ products, and free shipping to customers
  • High speed web hosting using the latest technology
  • Custom Logos.
  • Merchant account and gateway
  • Website verification with Google, Bing, and Yahoo.
  • Facebook Business page set up, 60 item Facebook store.
  • All social media accounts set up. 2 years of social media submissions.
  • Live chat set up on website.
  • Website spokesperson, basically a short video welcome message on your website.
  • Business email set up
  • Google analytics account set up.
  • Holiday seasonal sliders
  • 3 You Tube videos for your store
  • Ability to add new products to your website
  • Training Package with 2 one on one coaching sessions.
  • Up to $500 in free shipping if you choose to sell on 3rd party sites like eBay or Amazon.
  • An account with Sunrise Wholesale Merchandise.
  • Multiple store themes to choose from.
  • An option to have your own affiliates sell your products.

There are several different payment options but two overall options to purchase your eCommerce store through MBV. Option 1 cost you just around $4000 and there is a payment plan. You don’t get all the bells and whistles but you do get the completely loaded store. So if you know how to market and use social media that might be a good way to go.

Option 2 is around $8000. I purchased the second because it had some options such as setting up my Facebook Business Page and store, setting up all my social media accounts and social media marketing, Google, Bing, Yahoo SEO and a few more things that I as someone who is not tech savvy did not want to mess with on my own. I have questioned if I actually could have done much of the upgrade options myself with the training I am getting online, more about that later.

The Good

Overall I am very pleased with the way my store looks, and find that it is pretty easy to navigate and make changes to. You can check it out at www.rightpriceretail.com.

You get access to some good basic training on running a home based eCommerce business. There is an option to get more training available. I have chosen not to do it at this time.

MBV support is really responsive, I generally will hear back within the hour. I have a challenge with my blog post that is taking much longer to resolve, but typically you will get a pretty immediate response.

As part of building my business I have been drop shipping on eBay and had some success, so I know the products are items that people want. The $500 in shipping is allowing me to be competitive on eBay and Bonanza.

With the $8000 price tag you get a Facebook Business Page built for you. As I am totally not a social media person (yet) this was a nice bonus for me.

You immediately get a handout on 100 ideas on how to market your business.

The Not So Great

As I said when I started, it is really difficult to find out much about how others are doing with the business. The one site they let me check out was one that they use in many of their training videos (didn’t know that until after I purchased the store). I think if I had known that it would have been a red flag. My sales rep wouldn’t give me any other owners that I could talk with, confidentiality issue? If owners are doing great wouldn’t they want to share? Also, wouldn’t you as a company want to promote your successful clients?

My Sales Rep – I feel like my representative was a bit of a used car salesman. I wanted to sleep on it after we talked about the opportunity. It was at the end of the month and he gave me a bit of a high pressure sales job. He told me about a $500 shipping bonus that ran through the end of the month only, but he would try to get it for me even though the next day was the first of the next month, doing me this huge favor. What I have found out since then is that this is a standard offer that they give to all that purchase the business. Really not happy with that. He also told me he would be with me every step of the way, we were partners. If I was successful, he was successful. It has been over 3 months since I bought my store, he has not reached out once to see how I am doing or whether or not I have questions. I have had an account rep reach out to let me know she was there if I needed assistance, 2 months after my store opened.

The training some good but also some not so great. There is a student portal, some good training but I found most of it pretty basic as I have been in affiliate marketing for awhile and am not a complete newbie. They offered some group trainings and 2 individual coaching sessions. Well the group trainings were like a classroom webinar without an opportunity to ask questions. I found that the individual coaching sessions were pretty much the same.

I thought I would have an opportunity to ask my questions and get some help with the issues I was having building my traffic. My coach had me come up with some goals, but without any “lets figure out how we can reach your goals.” Even more frustrating was during my individual coaching session I was put on mute while my coach walked me through another 50 minute webinar and gave me maybe 5 minutes to ask questions, the second training didn’t even give me that much time. I am a coach, that isn’t coaching.

What was also frustrating was that my second one on one session was all about Grassroots marketing, something I have no interest in at all. I wanted to learn about Facebook Marketing and Google Ads, places to market online as I want as much of a hands off business as possible. I am now beginning to think that is not possible with this business.

The Blog Post. Search Engine Optimization is one of the ways to get traffic to your store but the blog post option at this time is having difficulty with adding images. It also doesn’t work like my wordpress blog posts where I can post my URL to my Facebook page and people can just read that blog. I have to add the whole blog page, I’m afraid at some point it will be too big a file to open. Just not sure how it works, so I think there is a kink in the system, might be I need to learn more.

The Product Categories – There are some really great items in my store. When I looked at the one store they directed me to, was impressed with many of the items. However, many of the things that I read talk about marketing a niche, so if you are really interested in finding a niche that you can blog about, tweet about, use with other social media I am not sure MBV is the thing. I have selected categories like Home Decor, Home and Garden, and collectibles with my advertising to do targeted marketing, but there are so many items on the store I feel like it might be too much for new customers to wade through to find what they want.

My Website is not on the Invoice that my customers receive. One of the things I read on ScamXposer (one of the few reviews I found) was that products were shipped with my label. That is not happening. I ordered an item as though I was a customer to see the process, and there was no mention of Right Price Retail on my packing slip. I have had requests from eBay purchasers about additional products and they do not seem to be aware of my website. When I drop ship there is an option to request that my website name be on the invoice, that is not happening as far as I can tell. To me that is definitely a downside. I was hoping that selling on eBay would give my store more exposure. The item I ordered was a can opener, it took two weeks to get to me, also not great. I am finding that most things I have sold on eBay are getting there within a week to 10 days though. So maybe a fluke.

Not clear what the 2 years of social media marketing and SEO looks like as I have not heard a peep form MBV on how they are helping to market my store.

Definitely some frustrations, is it just a learning curve that I need to get through? I am certainly not having the experience I expected.

Is This a Good Opportunity or A Bad One

First of all let me say I believe this is a legit opportunity. Overall, I think the price is okay for what you get if you don’t have the time to invest in building up a website and tracking down wholesalers. With MBV the site is totally automated and they tweak it for you so I think the company is probably making a nice profit off of the customer. For me it was about time, the learning curve to set up an eCommerce store and all the back office things that need to be set up, seemed overwhelming. Although, as I am also on Wealthy Affiliate, an online training site for building websites and learning affiliate marketing. I am learning that it might not be as difficult as I thought. The convenience of having the store up and running in a few days and owning a potentially viable business at a cost of less than $10,000 was for me a reasonable investment at the time. At least with the information I received about the potential to earn back my investment within months.

With any business there are ongoing costs, website hosting and maintenance, a minimum monthly fee to your merchant services. Any advertising costs are all yours. The website hosting fee is $359 annually, your payment gateway is a little less than $20 a month, and the Merchant account fee is $40 a month. So $65 a month even if you are not making any money. There are more fees based on sales, so that monthly amount will go up as your business builds. Something to keep in mind.

I have been running my business now for 3 months. I have run Facebook ads and spent about $400 on Google Ads. I have boosted posts on Facebook, I have told friends and family and as to date I have had at least 700 visits to my site and made no sales. I am really not sure why that is, I think there are some great items and the prices are reasonable. It definitely has me concerned about my investment.

I have had some success with drop shipping on eBay, I have a Bonanza Store and not much success there so far. I am finding free places to advertise online and starting to look at other options. I know it will take time but I am very disappointed with my results so far. Would love to be able to talk with other owners and see where their success is coming from.

When I talked with the one owner he said that he has had his store about a year and a half and he is making some money but has not quit his day job. In all fairness I did not ask whether or not that is his goal. It is mine, and I was assured by my sales rep that was a possibility.

If you have some marketing savvy and a budget to market, or you are willing to pound the streets in your local community to find merchants to sell items to, (there are bulk items), this could be a good opportunity. It is however a business and it will take some time to build. The downside of this is the ongoing costs. I am paying out $65 a month to just have my site up and available. On Wealthy Affiliate where I have affiliate sites, the only cost is the annual hosting fee.

The Bottom Line

Everything My Business Venture does is something you can do. Building a store with 15,000 items would be overwhelming and time-consuming but you could absolutely do it on a smaller scale, or invest in software programs at a lower cost that will do it for you. MBV gets their items through Sunrise Wholesale Merchandise, I have found them very easy to work with. They do have an option to build a website through their site, and they also have some plans where you can upload products to eBay and amazon that are totally integrated.

If I had it to do over I would have done more research. I think there is probably a much cheaper way to do this than MBV. That said, if you don’t want to spend the time doing the research, or taking the time to learn eCommerce, find products to sell this is a way to go. Just go in with eyes wide open this is not going to be an overnight tons of money business. One owner review I found find said that it took him about 3 months to get his investment back, so there must be ways to do it and I just haven’t found them yet. Plan to put in time and money in ads to get traffic to your site. If you are a whiz at social media this will likely be easier for you than it is for me as I am learning that as well. I am getting some positive feedback from my Facebook posts and ads, can’t take that to the bank though.

This is also a retail store, even though it is online you have customer service. It is still about building relationships. The more customers you have the more hands on you will likely need to be. If you are looking for making money while you sleep with little time investment I am not sure this is the method of online income you want. Affiliate marketing does have an advantage there because you send the customer to the affiliate and they deal with all the customer service.

I hope I have given you some things to think about. I don’t regret my decision, I still feel like there is potential here and I enjoy being a retail merchant. I plan to give it a year and try as many things as possible to create a successful business.

Do your own due diligence. Ask a lot of questions if you choose to explore this opportunity.

I would love to hear your comments and questions, and if you bought an MBV store I would love to hear your thoughts.

8 Comments

  1. Ben

    Hi there, just came across this great post. I got onboard w/MBV about 9 months ago and have been so busy with my main business I’m just now finding some time to put into selling on my MBV site. I have wondered if MBV was an expensive mistake because right when I signed up was when the Wayfair vs S Dakota economic nexus court ruling fell out, so I’ve been scared of the sales tax nexus(and the daunting task of having to apply for HUNDREDS of sales tax permits all over the US from all states/cities/towns/counties). Well I just talked to support and I guess they collect and pay the tax, so that makes it sound more realistic for me to operate maybe? They say it’s not “commission” per se, but it’s also not affiliate mktg exactly either. Heck I’m not even sure if I’d need an LLC or not—like you I’ve had a hard time finding other MBV store owners to talk with. So I’m getting a late start. I’d be curious of your take/experience on the aforementioned and also how things are going for you currently w/your site, which I’m going to check out. Maybe this is an opportunity to chat w/another MBV store owner. My site is GlassBunker.com. I’m interested in maybe getting rolling now that I’ve some time hopefully. Take care and thanks for reading!

    • Maryjane Henning

      Hi Ben,

      Thanks for the comment. Sales tax isn’t really an issue as I’m still having challenges getting sales. I have invested in Facebook Ads, Google Ads, haven’t done as much blogging or focused on other social media options, so I know there is still more I could do. What MBV offers is basically dropshipping and as a result of my experience with MBV I have discovered ways to do the same exact business for thousands less. Live and learn. I haven’t given up completely but it certainly isn’t what I had hoped for or anything that my sales rep told me it would be. If I could do it over knowing what I know I would never have done it. Best of luck with your ventures.

  2. Nam Nguyen

    Hi Maryjane Henning. I just recently invested in MBV. I wish I could have read this before investing in it. Do you still working with MBV? I want to withdraw from this business and get my money back, but it is now more than three days. Do you have any insight or me? Thanks. Nam

  3. Maryjane Henning

    Hi Nam,

    I wish you had found this first as well and we could have talked. I don’t know if there is a way to get out of it, you could try calling the Better Business Bureau. Three days is standard to get out of a contract but since you can’t see what you actually have bought until days later maybe they could help. However, since you have the store why not really jump into social media to promote it. I mostly tried driving traffic to my store using google and Facebook ads and did get traffic but never really got sales and it became expensive. I think if I had focused more on creating interest with posts on social media sites I might have had more success. I just closed the doors on Right Price Retail last week, got tired of paying for a merchant account that I wasn’t using and have moved my ecommerce business to eBay. Good luck.

  4. Ashley W

    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.

    • Maryjane Henning

      Hi Ashley,

      I agree that MBV over sells and under delivers. I don’t think it is a scam but after doing my research (which again, I’m beating myself up for not doing more of before buying) it is really over priced for what you get and the training is minimal unless you are willing to invest more. For myself the one good thing that has come out of it is that I did do a lot of research on dropshipping and have found many less expensive ways to start a dropshipping business and ways to find suppliers. The main reason I wanted to write this blog post is because I couldn’t find any full reviews of what you get and the potential for success with MBV from someone who had actually bought one. I think if you are a whiz at social media that you could maybe make a go of an MBV store, but if you have the skill to do that there are so many ways to do it for less money. If anyone has bought an MBV store and had great success I would love to hear about it.

  5. Rupak Basak

    I would agree and advice NOT to go with MyBusinessVenture for launching your first e-Commerce portal. I tried this last month, even invested in their marketing package but so far very disappointed.
    First of all the eConsultant Jason Becker was very responsive till they receive the full payment, then he hardly kept any touch, responded to emails etc. In our initial conversations, Jason used to claim that making 5 sales in first week or so would not be a big deal and one would reach break-even after 3-045 days. This is where they are very good at, like telling lies. It should be a shame on them how they cheat people’s money randomly but still doing business in the country like USA.
    Secondly their marketing package is a big scam. They just create your pages in Facebook, Twitter etc but will not help in any sort of marketing, though in the initial call they said you pay the amount, it is not our job to promote you. Also while starting the venture, they never will tell you of this additional package, you will get to know only after paying the initial fee.
    Thirdly the marketing ways they use to teach are from old schools, like posting sticky notes in gas station.
    Overall its a total mess. I started this as I had long time aspiration to launch a web store. I do whatever I can with my limited budget, but so far no success. I am putting comments and feedback as much as I car in different websites so people become aware of this high voltage scam.

    • Maryjane Henning

      Hi Rupak,

      I definitely understand your frustration. I agree with you, I felt like my representative oversold how quickly you could be successful. If you look at the stats for new businesses, especially online retail, the success rate is dismal, I found figures as low as 3%. With any new business you should probably plan on not getting in the black for at least the first year.

      I stand by my statements that this is not a scam and I had a talk with the owner and it seems like they are working on making some changes, but I still believe there are a lot of less expensive ways of having your own online store. Since you already purchased I hope you have better success than I had, just keep plugging away at it. Best of luck.

      Maryjane

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