Go Aspire Scam Collapses0
Go Aspire Scam Collapses
Go Aspire, formerly Aspire Worldwide, has gone into insolvency. This has happened just a few months after investors’ exchanged their “franchises” for shares in the company. Founders Andrew Terence Hansen, 47, Wendy May Hansen, 45, Philip Gordon Watts, 68, and Sally Anne Watts, 52 can’t be reached. It is estimated that over 5 Million dollars has been lost.
“Unfortunately the company has insufficient immediately realisable assets and no funds in which to appoint an insolvency practitioner and thereby initiate a voluntary liquidation.” – Philip Gordon Watts
Go Aspire is a cashback loyalty scam where people paid between $3000 and $30,000 to join. People that joined were promised they could earn passive income by signing small businesses up to the payments system to create micro shopping communities, while also earning commission for signing up other members. Go Aspire follows a similar model as the Lyoness cashback shopping scam.
All four founders of Aspire were involved in the early promotion of the Lyoness scheme in Australia, in which many people lost thousands of dollars after promises of future income failed to materialize. – Source news.com.au
Here is how Go Aspire was presented to people:
Here is how you were suppose to make money with this scam:
You first purchase a franchise: Cost $3056 -$6116.
You can also become a Coach: Cost $21,600 – $36,336.
You can sell small business people a Merchant Licence.
Then you can sell them a marketing package.
The income from sales at these small business locations is divided up.
You receive a 20% commission on customer purchases and signing people up for the business opportunity.
You receive a 10% commission on the purchases of the people that are recruited by the people that you have recruited.
Depending on what rank you are in the company you receive a Team Sales Bonus up to 7 levels deep.
To get to the various ranks in the compensation plan you need to generate MSVP points. Each MSVP point is $75 in sales from the group of people you have recruited. These ranks must be qualified for monthly, and only 50% of the qualifying MSVP can come from any one personally recruited representative and their downline. You receive benefits from the Career Bonus Pool depending on your rank.
The Worldwide Bonus Pool is made up of 3% of the worldwide sales generated by Aspire representatives.
The Founders Bonus Pool is made up of 2% of the worldwide sales generated by Aspire representatives. The Founders Bonus Pool is paid out annually.
In addition to making money with your franchise, you can pay to become an Aspire Coach, Coaches qualify to earn 20% of the fees paid by Coaches they recruit. Coaches also earn a 10% commission on the recruitment of Coaches and any coaching services done by personally recruited Coaches. An additional 1% is paid out on the fees Coaches pay and any coaching services small business pay for, down to seven levels deep.
Here is what a few victims of this scam had to say about it:
I spent my mortgage deposit money, I could have bought a house. I’ve lost the majority of my clients. People I used to be quite close to don’t want to have anything to do with me because I was going around promoting Aspire. I even got my mum involved. The world has come crashing down. I’m 30 years old now, by this point I should already be going somewhere. I don’t have anything to my name besides my car. – Source Adrian Simule news.com.au
People have lost life savings, borrowed money from family members. It doesn’t matter if you put in $1000 or $500,000, it’s not right, They’re very clever people. That money is gone. For me it’s not about the money anymore, I just don’t want them to do this to somebody else. – Source Sue from Henley Brook news.com.au
Go Aspire Conclusion
Do not purchase franchises that are using a MLM style of recruiting. These franchises have zero value because the real value of the franchise is based on recruiting and not product sales. This creates a business environment were the vast majority of people fail to make money and only the owners and a small percentage of representatives make significant income.
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