Is Cutco A pyramid Scheme or a scam?
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In this article we are going to talk about cutco knives in detail.It’s cons and pros and whether it is good to join this mlm company or not.
Let me guess why you are here.
Some sharp dressed college students knocked your door who wants to make extra money while studying you some tools.
Another reason will be that someone in your family and friends introduced you to this mlm company,where you can make money by selling knives.Looks very exciting.
First of all I welcome you to my cutco mlm review.And really appreciate you for reading this review.
Cutco is well known in USA for selling different kinds of knives.
It feels good to have sharp knives while cooking food for the family but when you come to know that cutco is giving you an opportunity to make extra cash doing this?
Sounds interesting?Stay with me in this eye opening review.
First thing first,I am not associated with cutco by any means and will not try to pitch you this mlm company in this review.What this means is that it is a completely third party review.
Let’s start this review.
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Cutco is an American based company that sells different kinds of knives.It is a well known brand for ages.
The company was founded in 1949.This is like almost 70 years ago.Definitely not a night fly.
So,one can say that it is not some random new MLM company that wants to sell their program to you.
Old name of cutco is Alcas corporation based on the names of owners.
The founders of Alcas corporation are Alcoa and Case Cutlery.
They changed its name to cutco in 2009,this is because it was the main product they were selling in this mlm.
As I said that cutco is a well known brand for cutlery and kitchen accessories.
This is because they have a huge variety of knives and have been selling it to many countries like Germany,Uk,Australia and korea.
They do not sell their knives directly but by the sellers like you who are trying to make money AS A SIDE HUSTLE.
So,you can say that it is an mlm company.
Cutco knives include a wide range of many kitchen tasks including compact cheese knife,santoku knife and other paring and chef knives.
Cutco knives are produced in Oleand,New York but their products are made in China and mexico.
About Cutco Knives
There is lots of speculation about their products on the internet.
Some are talking about its quality and saying that it is not worth the money and investment but what is the truth.
Their knives are made by going through three steps.
So,there are three steps that they go in before making cutco knives and they are as below..
They give heat treatment because it hardens steel and makes them more useful.
Means when you heat a steel it increases their effectiveness.
The effectiveness and hardness totally based on how much steel you are providing to the steel.
After giving the heat they drop that knife into some cold water.This makes the knife even more hard.
After this all process they temper it in the oven to make the quality of the knife even more.I think that’s it.
There you go,the three steps the maker goes from before making the knife.
Quality of the knife is good and that is the reason that it is a well known brand in the USA.
If you are reading this the chances are that some of your friends or family members recommend you this.But can you really believe them?
Can you really make money with it or not?
How Much Can You Make With Cutco
Now,this can be something you want to know more than most of the other things about this julti level marketing company.So,how much can you make?
Well,like other mlms there are two ways that you can make money from cutco.
First one is that you have to sell their products[products directly to people and make retail commissions on it].
Second is to recruit people and make a downline under you and make residual commissions.
If you are reading this,another reason can be that you got an email from Cutco and they are saying you to promote their products.
But let me clear you one thing.Cutco is not doing its marketing.It is just a source where you can sell their products.
Their marketing is actually handled by other companies like vector marketing.
So,they are marketing cutco heavily.The first impression is that it is a mlm company right?
Most of the successful companies do not market themselves because they are successful.It is totally up to people like us to do its marketing.
Why not?Benefits of both,you and the company.
While the company states that the average person that is making money by cutco is about $15 to $17/hour.
If you are jobless this amount seems to be a good one consider working from home.But I have read a lot of reviews of the company on different platforms and BBB claims that the average is $100 per week.
This means that you can potentially make $300/month.If this is appealing to you than you can join this mlm company.
Success Rate With Cutco
Let’s talk about the success rate in Cutco knives.Do you know that most of the people who join cutco knives end up losing their hard earned money?
Most of the studies showed that 73 to 99% people that join mlms end up losing their money.
Well,this is the same with cutco knives.
Cutco knives are giving you 10-40% commission on any knife you sell.
So,the thing to wonder is,you will market cutco,arrange house parties and bother your friends and family.
For just $10?If you managed to get a $100 sale.It did not make much sense to me.
Let’s say you managed to get sales worth $3000.
You can make anywhere from $300 to $1500.But let’s think realistically,how many people are willing to invest $3000 in knives?BONUS : My #1 Recommendation To Make Money Online In 2021(Free Guide)>>
How Does Cutco Works
Cutco works as a mlm which produces high quality knives.
But they save money on advertising and marketing by getting people,mostly students sell their knives.
That way they save their money on facebook and google ads.
Why not?Everyone needs knives and who does not like to make money while buying something.
Students trade time in exchange for money.
Door to door marketing is not so easy.
You have to spend a fair amount of time into it.And most of the time people get abused by the house owners.
This is because door to door marketing is not ethical marketing in 2020.
I have reviewed vector marketing where their distributor was raped while selling knives by doing door to door marketing.
Ok,they tell students that you can make 10% commissions while selling cutco knives to others.
But they do not make it clear what you need to do in order to start making money with cutco knives.
Here are the things you need to know before starting promoting these knives to others?
- Cutco is advertised as a part time job for students in which they can make upto $15 per appointment.
- They need to apply to be cutco distributor.Not like all other mlm where you just need to go and sign in.
- Students then will be invited for an interview.
- If they are selected for an interview,they will go through 7 days training in which they will more likely teach you door to door marketing.
- Each day consists of 3 hours of long videos.
- And lastly start selling knives and make 10% on them.
Here is a video which explains how cutco knives work.
Cutco Compensation Plan
It is free to join,but the approval rate is very poor.
If you apply and go through their process,more chances are they will filter you during their approval process.
And they will make you wait for almost a month.
This means that if you join cutco today,you have to wait for the next month if you want to start promoting this to others.
Here is their commission you are going to make..
- 0-1000 bucks worth of knives sales = 10% commissions
- $1001-3000 in sales and you will make 15% commision
- $3000-6000 you will make 20% commission
- $6000-10,000 and you are going to make 25% commission on it
- $10,000-$20,000 in sales and you can make 30% retail commission
- $20k-$30k in sales and you will make 30%+5%bonuses.
- $30k-$50k in sales and you are going to make 30%+10% bonus on that retail commission
This looks like a very straightforward compensation plan,not like other mlm that I reviewed.
Watch this video to know more about it..
Is Cutco A Pyramid Scheme?
No,cutco is not a pyramid scheme.
It is because the way you are earning money is by selling products to others and it is not based on a recruiting system.
Most of the MLMS I reviewed were heavily focused on mlms.Like it works and arbonne.
They were totally relying on the recruiting process.
But here is the problem with cutco.
If you want to make money with cutco then they give training to their students for free.
And guess what,in that training they are heavily focused on going door to door.
This is completely a new idea for any mlm I have reviewed on beatspreneur.
But in my opinion it is not worth time and investment.
More than money investment,time investment is important.
And it is not ethical to go door to door for hours and hours for just $15 profit.
If you anyhow decide to join cutco than what will be the difference between your 9 to 5 job and this one?
But if you are jobless it can be a good option.
Can it be?No,I have a better option for you to keep reading this..BONUS : My #1 Recommendation To Make Money Online In 2021(Free Guide)>>
What I Like About Cutco
Well there are just two things that I liked about this mlm company.There are..
I came to some positive reviews about cutco and they were praising cutco management.
They were saying that their free training and staff is amazing.
Some Extra Income
If you are looking to earn some extra cash it can be fun.But just for extra cash
Fix it in mind that it is not enough for you to replace it with your 9 to 5 job.
Now let’s talk about the bad side?
Thing I Do Not Like About Cutco
These are the cons of this mlm company..
There are lots of complaints about this mlm.
Lots of people saying that it is a scam and the people have to pay them thousands of dollars before they start making money with cutco.
However this claim is legit or not,I really do not know about it but every opinion have its own value.
There are many doubts of their recurring policies.
They are very complicated and not that easy to understand by lots of people including me.
Sometimes people make money by cutco and do not even know where it comes from.This can be sometimes irritating.
There can be two reasons for this complicated recurring commission structure.
First one is that they want to upsell people and second one can be more expensive products.
They Faced Lots Of Lawsuits
They have faced a lot of lawsuits.There are lots of complaints about it on BBB.Some are saying that they do not pay on time and some are saying that the commission structure is not good.
10 Shocking MLM Statistics That You Need To Know!
- Almost 99% participants of all multi level marketing companies lose money,According to the FTC.
- There are 38% more chances of you profiting from your own any kind of small business? than joining these mlms.
- Success Rate of online business,which will give you financial and time freedom,is 20% more than joining mlms for making money.
- The odds of you winning a lottery worth $10k among 10,000 people is 300 times higher than actually making money from mlms.
- According to the AARP foundation,47% distributors of all mlms lose their money,apart from this 27% do not make a single penny.
- Remaining 26% that actually make money,53% of them make less than $5000/year.
- 39% among those 53%,who are making $5000/year quit because recruiting and selling crappy products to friends and family members jeopardized their relationships.
- Forget about building a long term business with mlm,because 50% of all mlms participants quit within one year.
- 75% people that join mlms say that they will never ever join any kind of mlm.
- A poll was conducted in 2018 among 1050 mlms distributors and it was found that most of them makes 70 cents an hour and 20% of them did not make a sale.60% of them makes less than $500 in sales over the past 5 years and 32% of them acquired credit card debt to finance their mlms involvements.
Is Cutco A Scam?
Ok,let’s talk about our final verdict about this mlm company.Is it legit or a scam?
First impression is that cutco is not a scam.
It is totallly legit mlm company focusing on selling knives.
You can make money in cutco.But the problem is that the income potential with this mlm is very low.
In fact very very low.And the marketing they teach inside the company is very unethical.
Morever,they focus on door to door marketing and their distributor was rapped during this.I mentioned that in vector marketing too.
If your gender is female,then do not join this mlm.It is not for you.Simple and plain.Why join mlms when there are more scalable businesses there?
It is not what I recommend to my audience.
Mlms are destined for failures.I have reviewed hundreds of them and came to a verdict that it is the worst business to start in 2020 and moving forward.
Mlms are not scalable,long term and sustainable business model out there.
It is desigened like this,the only person who is making money in mlms are their owners.
You are company’s best customers and by giving you an opportunity to make money they are making money themselves.
I recommend you to start a lead generation business instead
It is a long term business model and potential is wider then Sky.In this you have to generate leads for business owners.
let’s say that you generated a lead for dentist and he closed it and made $1000 on that customers.He will be more then happy to pay you $50 – $100 on that lead
Now,imagine if you generates 100 leads per day for that dentists?
You will be making $30k/month.Simple,proven and repeatable business model.
Yes,most of our students are making $100k/month and thousands are making $10k,$20k,$30k/month.
If you want to watch the exact training that helped them to make $100k/month with lead generation business model then click the button below.
That’s it for today’s review.
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