Is Parallel Profits A Scam?
Product Name: Parallel Profits
Author: Aidan Booth and Steve Clayton
Pricing: $2497
Rating: 2.8 out of 10
Verdict: Be cautious of this program. It appears to be some kind of hit-it-and-quit-it kind of program. It’s safe to assume that this product will be under a new name come next year.
Because of the quarantine measures against the spread of the COVID-19 virus, there has been an increase in the number of people working online. In response to that, the number of ‘online earning opportunities’ seems to have doubled in size, and understandably so.
On usual days, I only see a couple of online opportunities while browsing. For this last period though, these ads seem to be everywhere, and it’s very obvious why that is. With millions of people becoming unemployed, these companies think that now is the best time to lure them in with online earning claims.
Now, I am not saying that these companies or programs are outright scams. Most of them are, sure. But there are still a handful of good companies out there. However, identifying them will be a hard task due to the sheer number of programs out there – and that’s where I come in.
How To Identify Scam Offers?
I’ve been reviewing programs and online money-making companies for several years now. I’ve reviewed more than 600 of them actually. With this experience, I can easily identify which programs are bust and which ones are must-haves. The trick is quite easy – and you can learn it, too. Read on further to learn about it.
Luckily, I found my bread and butter program here – the one program that’s helped me earn money online. If you want to check it out, feel free to do so here – My #1 Recommendation!
Now, onto the Parallel Profits review.
What Is Parallel Profits?
Parallel Profits is not a program but a training course designed for businessmen to improve their sales. This course is created mainly for local services that are finding it hard to attract customers.
This program promises to teach you the ways to improve your lead generation, increase brand visibility, and overall improve the performance of your business. Of course, these are just their claims. The reality will, of course, be always different than what is presented.
So, how true are these claims, actually? To understand how real their claims are, we need to dig a bit deeper and learn the structure and their business model. This would allow you to actually examine the information instead of just taking my word for it.
How Does Parallel Profits Work?
I will share a picture below (taken from their website) to illustrate their business model.
If I’m going to be completely honest here – the picture does not actually tell anything. As a matter of fact, I believe it does the opposite. It’s as if the company wants to look like they are explaining something without actually saying anything. I hope that makes sense.
The illustration above looks to be full of buzzwords and jargon to make it seem like their business model really works. If we examine what they’re actually trying to say, it has something to do with increasing your leads, improving your sales pitch, deliver your service/goods, rinse and repeat.
That’s putting it simple. Of course, there’s more complexities to it, and that’s what we’re going to learn in the next section.
How Much Is Parallel Profits?
To join Parallel Profits, you need to pay a total of $2497.
Yes, you read that right. It’s that much.
Now, I am not going to argue whether that’s too much for a program. What I’m here for is to actually determine if Parallel Profits lives up to its claim. If not, then I will deem this program unworthy.
If you go to their sales page, you will see that they try to justify this price by claiming that once you become a member, you can earn up to $100,000/year from it, and quite easily, too, they add.
Can You Really Earn That Much From It?
The short answer is NO. The long answer is a bit complicated.
On paper, it’s possible to earn that much but only if, and only if you become an affiliate. You see, if you can convince someone to buy the same program that you just bought, you will earn a commission. In a way, their claims of helping you earn money by helping your business is not their priority at all.
This is made obvious to the fact that your only choice to make money is to sell the program, much like an MLM company. In short, Parallel Profits is an MLM company with their main product being a training course instead of the usual health-related items that the MLM industry is known for.
Inside The Members Area
Perhaps you are thinking that I’m too quick to judge this company being a ‘probable’ scam, in light of all the circumstantial evidence presented.
I am going to list a quick summary of the things you will find in their training manual.
- Module 1 – Introduction and plan
- Module 2 – Business Overview
- Module 3 – Business set up
- Module 4 – Services and pricing
- Module 5 – Lead Generation
- Module 6 – Closing Customers
- Module 7 – Business Operations
- Module 8 – The Franchise Process
- Module 9 – Billing and Accounts Receivable
- Module 10 – Customer Reporting
- Module 11 – Customer Retention
- Module 12 – Ongoing Accounting ·
- Module 13 – Scaling and long-term growth
From the title of each of the Modules, you can infer that what they’re selling is just a glorified business handbook, which you can easily find all over the place at a fraction of the cost.
I’m not discounting the fact that there’s a chance that there is a small chance that it contains some magical advice, but at the price of $2,500, is that advice even worth it?
What I Like About Parallel Profits
In my research about this company, I’ve come to view it neutrally. That means that I don’t really have good things to say about it. But I don’t really have something bad to say about it either.
It’s just stuck here in the limbo of my undesirable and probably unworthy list of programs. Nevertheless, I will still make a list of things I like about it.
- It’s a straightforward training course that is compact and easily understood
- Customer support seems to be working fine
What I Don’t Like About Parallel Profits
Now, this is the section I have a lot of fun writing about. That’s because this is the section that makes or breaks the program.
- It’s expensive
- It offers nothing new
- Questionable feedback (fake reviews online)
Another thing that I don’t like about this program is it not upfront about its business model. It’s an MLM company. I don’t have a program with MLM companies. In fact, I’ve been a part of several MLM companies. The problem is when companies hide this fact to their consumers, like this company.
The Verdict – Is Parallel Profits A Scam?
Parallel Profits doesn’t appear to be a scam. However, I’d be wary of this company if I were you.
There are too much-unwanted qualities about this company that I find it hard to recommend it to anyone I know. For one, it’s so expensive. And all that for a book that basically copies all business books before it – that’s a hard NO for me.
Additionally, if you compare it to other similar programs, you will see that it doesn’t compare that well. For its price alone, I’d rate it near the bottom.
Overall, I don’t recommend this product at all. There are way too many better alternatives out there, and for way less than $2,497.