Is My Stream Energy a Scam?
Welcome to my Stream Energy Review!
If you are looking for energy plan that fits your lifestyle, you probable have heard Stream Energy. Perhaps, a friend or family member, on social media, or via email list try to sell this opportunity to you.
Then you might ask, “Is My Stream Energy a Scam?” ” Is it another pyramid scheme to milk us our investments?” Or “Is Stream Energy a good company?”
There is every reason to be doubtful since MLM organizations do not have the best reputation when it comes to business opportunities they allege to offer. Honestly, I would advise you to go through this detailed Stream Energy review.
First, I would like to applaud you for visiting this site to learn more about Stream Energy before investing your money on this program.
In this review, I will give you an unbiased review of the program and hopefully help you make the right decision. To be honest, I have tried and tested the program for a few months.
Let’s get started…
What is My Stream Energy?
My Stream Energy is an MLM company that mainly provides energy to its customers, whether it be electricity, natural gas, or both. They are similar to Ambit Energy which provides electricity and natural gas.
Since its establishment by Rob Snyder and Pierre Koshakji in 2004, it has been in the industry for a while, probably celebrating its 15th anniversary.Their parent company is NRG Energy which located in Princeton, New Jersey.
Stream Energy is headquartered in Texas, USA and other business names are SGE Texas Service Co, LLC and Kynect, LTD.
The company is specialized in several main categories of utilities which include:
- Deregulated energy certificates
- Deregulated natural gas
- Renewable energy certificates
- Retail Energy
- Commercial energy, and residential energy
The company appears to be one of the leading direct sellers in the industry and utilizes both flexible contract terms and competitive rates.
Here’s a Quick Video on Stream Energy.
Nevertheless, Stream Energy also charges a higher-than-standard price, and only gives services to selected States. If you want to prevent being restricted into a long-term contract, Stream Energy is the perfect choice for you.
Stream Energy Products and Services
Let me quickly take you through the products and services that Stream Energy provides.
For beginners, there are two kinds of Stream customers: one that saves money by buying the services, and those that directly jump into the business opportunity. Here are the services offered:
- Energy – it comprises savings plans for both natural gas and electricity supplies. Unluckily, the service isn’t offered across all States.
- Phone Plans – Stream Energy provides cell phone plans with data coverage and Wi-Fi for both shared and individual programs. This service is available across all States in the United States.
- Protective – it is a comprehensive protection service that comprises a medical cover, roadside assist, and credit monitoring.
- Home Services – this includes digital voice services, smart home services, accessing your house from any location via smart safety alerts, and a smart thermostat to help you save energy.
Generally, the idea of offering these products and services is to help customers save some dollars. However, you should note that the prices are charged every month and vary based on your location.
How Does My Stream Energy Work?
In case you are searching for the background info of the company, My Stream Energy is an MLM (Multi-Level Company) that offers four types of services as discussed above.
If you want to join My Stream Energy, there are two ways to register: one is a customer where you pay the company for the services rendered. The other way is to register as a stream associate.
By paying $299, you are entitled to recruit new associates and also sell My Stream Energy services. From here, you will be making money monthly based on clients’ Stream bills.
If you’re looking for a business opportunity that you can start for free, you can try a company like Wealthy Affiliate. If you are just looking to make a side income, you can also try sites like Inbox dollars, Daily Rewards, Survey Voices, and Survey Rewardz.
How to Make Money with My Stream Energy?
Just like other MLM programs, there are two methods to generate money via these programs; My Stream Energy isn’t an exception.
- The primary method is via selling products to other users and in the end, generates a commission for the sales made.
- You generate money via your recruits and downline, through bonuses, as well as meeting the company’s set objectives.
How to Get Started with My Stream Energy
If you are determined about joining this program, there are a couple of things you need to perform to become an authorized My Stream Energy sales associate.
The basic method is through registration, and this is a simple aspect that you should be able to perform via their website. After that, you will pay a few dollars.
The first registration fee will cost you $329. Afterward, you will need to pay $29 per month for your account administration.
As you can see, you will pay a whopping $348 annually for the administration fees. In comparison to other MLM companies, this is quite cheap for a beginner.
All MLM’s includes a compensation plan, and My Stream Energy isn’t an exception. For you to enjoy your commissions within this program, you must register at least three individuals. This process can be challenging, especially if it’s your first time working with an MLM company.
Here’s a screenshot on their compensation structure
If you have friends and family members who are willing to switch their energy providers, this can turn out to be the most straightforward task to you.
If they do not want to migrate to Stream Energy, you have got to look for other methods of finding users whether it be searching for them online or face to face. Here is how you will be able to make money via the program:
Personal Customer Bonus
This is the bonus that customers get whenever they achieve specific ranking and recruitment goals.
For instance, one is eligible for a bonus of up to $ 500 upon registering ten individuals into My Stream’s ecosystem.
One can make up to $1200 through these bonuses, and they only last for a hundred and twenty days.
Team Customer Bonus
Every time one of your personal referral manages to register three individuals under them, you are eligible for team customer bonus.
You should be able to generate around $ 100 each time this occurs as long as you are a qualified director or rank higher in the system.
It is also possible to make money via team customers’ bonuses for achieving specific sales commitments and leadership as well.
Monthly Earned Income
This is the money you make from every user who is actively using My Stream’s Energy Services. The bonus is paid out monthly.
Additionally, there are other incentives and bonuses that one is qualified for upon attaining specific ranking criteria. It can be anything from receiving monetary stuff or twelve-month lease on a Mercedes.
I think that the compensation plan is worth it, but you need to learn it to make significant cash. You may consider checking some videos and tutorials on how to make a lot of money via this program.
My Stream Energy Ugly Truths Revealed!
You Must be Proficient at Recruitment to Succeed
This is common among MLM’s since the primary method to make cash is via recruitment. Regarding My Stream Energy, the best method to make cash is by registering users for energy services.
However, you will not make any money at all if you fail to register at least three individuals for the services.
It’s hard to make money in any business but it is more difficult with an MLM business model. But if you are looking for a full-time or part-time income opportunity, you may want to try My Best Work At Home Recommendation.
If a business opportunity is not what you are looking for at the moment, you can always try some other free sites to make some extra bucks like, Inbox Dollars, Survey Voices, Daily Rewards, Pinecone Research Survey, and Survey Rewardz.
If you aren’t good at marketing, you may struggle to make any money. The truth of the matter is that you will not generate much as a qualified director or from your direct referrals.
For you to make much money, you must sign up a lot of users in order to be qualified to earn up till the fifth level. Here is where you will have the possibility of making good money.
Direct clients only make around $0.25, and the amount becomes much more as they go further in levels. In fact, getting to the fifth level in this program is an uphill task. I can tell you for sure that the recruiting program isn’t for the faint-hearted.
Poor ROI (Return on Investment)
Considering the amount you need to pay to join the program, and very few can afford it, it may not be ideal to invest in the system if you are struggling financially.
You may end up making zero profit on the program in a couple of months. As you can see, the chances of generating any good money with this program depend on patience and skills.
Several My Stream Energy Complaints
There are various My Stream Energy complains. For example, some users claim that the company over-charges for electricity.
Generally, My Stream Energy provides a fixed rate for a given period. They then switch to a viable plan when your contract with them expires, and this means you have to pay for the electricity consumed. In most cases, you may find yourself paying twice the fixed rate.
There are also complaints regarding the company’s customer support. My Stream Energy Customer support team is almost non-existent. They neither solve the customers’ issues completely nor on time.
What I Like About My Stream Energy
It has been in the Industry for Years.
Being in the industry for 15 years is a feat very few companies can attain. Thus, the fact that My Stream Energy has been in the market for more than a decade makes it entirely credible.
They must be doing something proper if they can withstand the pressures for such a long time. Most MLM companies font last more than a year.
It Offers Reliable Services
Apart from being affordable, the energy services offered by My Stream Energy are generally reliable.
There are some scenarios where some clients weren’t satisfied with the communication or even the factor of being able to cancel the services, but these issues have been solved lately.
It Focuses on Green Products/Energy
More organizations should be making a push to give environmentally friendly products. My Stream Energy offers eco-friendly electricity plan known as Stream green.
By doing this, the company has been able to reduce the carbon being emitted to the environment significantly.
It has A+ on BBB.
My Stream Energy scored an A+ on Better Business Bureau (BBB) as well as a three-and-a-half star rating. Amusingly, the company has over 238 complaints on the site as well.
Is My Stream Energy a Scam?
No, My Stream Energy isn’t a scam or pyramid scheme. It is a legitimate Multi-Level Marketing that has problems that other MLM’s encounter.
First, the fact that the company offers affordable energy services and has been in the industry for more than a decade makes it trustworthy.
The company isn’t insincere, but some of its marketers may exaggerate the earning prospective. I recommend everybody to study all of their guidelines and materials thoroughly before signing up with them.
As you have seen, to make a lot of money at My Stream Energy, you must work extra hard to rise high up the ranks. Even then, the chances of making it are slim. The need to recruit a lot of new users is why the success rate is minimal.
Yes, the organization has made a couple of millionaires, and you may also be the next in line. However, you need to ask yourself realistic questions, can I reach the second highest rank or do I have the essential skills to recruit thousands of individuals?
All business require you to work hard. But there is a lot of recruiting involved here and there’s is a big reliance on recruiting people as brand partners.
If you have the essential set of skills and you are more than ready to use most of your time learning sales strategies, and using the internet to amass leads, My Stream Energy may be worth your investment. If you aren’t into this piece of advice, then look for an alternative.
In my opinion, the organization isn’t a bad company at all. However, it ranks among the hardest Multi-Level Marketing companies where one can make an impressive income.
If you are looking for a business model that doesn’t depend on recruiting a lot of people under you, my no. 1 recommended wort at home opportunity is a much better options. Get started for free and you will get a free website, free hosting, tons of free training, and a very helpful community.
How I Make a Living Online
Forget MLM; affiliate marketing is a way much better deal compared to what you get at MLM. For beginners, you don’t need to register users to make cash.
Working as an affiliate gives me the chance to earn money by practically promoting any product I like as opposed to being forced to market a list of few products in an MLM structure.
I have worked for both affiliate marketing and MLM, and I can honestly say that affiliate marketing is a hundred times better than MLM in every way.
If you’re looking for a business opportunity that doesn’t require you to recruit people, you can try sites like My #1 Recommendation program.
If you’re just looking for some side income, you can also try sites like Inbox Dollars, Survey Voices, Daily Rewards, Pinecone Research Survey, and Surveys Rewardz. You may also want to look into Swagbucks.com to earn money from home.
Thus, as long as you learn how to do it flawlessly and put much more effort, you will definitely succeed. Besides, most of the monetary success I enjoy is pure profit since there are insignificant expenses I incur as an affiliate marketer.
Stay tuned to learn more about affiliate marketing in future updates.
My Stream Energy at a Glance
Name: My Stream Energy
Owner: Rob Snyder and Pierre Koshakji
Price: $329 Plus $29 a month
Overall Scam Rank: 8.7 Out of 10
Verdict: Legit, but need to chase down sales to make a decent income