CannerGrow MLM Review
This in depth Cannergrow review will explain the history and facts you need to know to make an informed decision, on whether to become a Cannergrow commission partner. There’s been some talk about this program being flawed, so I’ll be answering this important question, is Cannergrow a scam or genuine opportunity to make a new career.
Straight up, I’ll advise that I am a sceptic. Some people are not deterred by MLM schemes, and will give them the same credence as with any other wealth creation opportunity. I’m just going to lay out the Cannergrow facts, and reported information so you can make your own knowledgeable decision. So pay close attention.
Update: As a brief update to this article, I just wanted to alert you to the current social impacts that affect MLM opportunities. Multilevel marketing consultants primarily work by hosting house parties to present and demonstrate products to potential customers. As social distancing has become apparent, these hosted house parties or events can no longer go ahead.
Instead, companies with MLM opportunities are turning to sales online to keep their consultants active. What's ironic about this, is that they are basically turning it into an affiliate marketing venture. However, consultants will only be allowed to sell the products of the MLM company they are involved with.
So, the choice now is owning a website and only selling one companies products, or own a website and sell any products you like (eg: traditional affiliate marketing). I know what I'd be choosing!
In fact, in most cases, the MLM company will still own the website. I've seen instances where they will give it to you free for 3 months, then you have to pay for it. eg: domain & hosting fees. This will be on top of other MLM fees. This is not the case with genuine affiliate marketing, where YOU own your own website.
Product Name: CannerGrow
Founder/Owner: Sascha Wäschle (+ 3 other co-founders)
Price: €350 EUR to get started
Program Summary: In my opinion, …….
Would I Recommend It: No
What is CannerGrow
A recent player to the MLM cryptocurrency niche, is a Swiss research and production company of cannabis called Cannergrow. This is a project founded by Cannerald, the parent company. While Cannerald has been around since 2017, the Cannergrow leg of the enterprise was only registered more recently, in April 2019.
What Cannergrow tell us, is that they claim to grow cannabis plants, with 2 cannabis growing warehouses. One situated in Macedonia, the other is Switzerland. What seems suspicious to me is that they have switched locations. They began promoting their warehouses as Switzerland and the UK, but have removed the UK and placed Macedonia instead. Why the change!
This is also perplexing because you’re actually selling ‘virtual plants’ if you sign up to this ponzi scheme. Cannergrow don’t actually have any retailable products or services to sell, so as an affiliate, you can only market the Cannergrow affiliate membership itself.
Cannergrow are attempting to cash in on the legalisation of cannabis, as more countries find it a more acceptable solution for health reasons. Canada and California have recently legalized cannabis, and some European countries are following suit.
So, Cannergrow would like you to become a virtual grower and help them make sales.
CannerGrow Payment Structure
Apparently, the Cannergrow plant token will launch at some point. You can see that on Facebook, they’ve mentioned the terms of which the token will open.
As you can also see, they go on to say there is a Unilevel Compensation plan. So let’s take a closer look at this compensation plan.
A typical unilevel plan comprises of an affiliate at the top of the level structure, with their recruited referrals beneath them in the next unilevel. When a recruited affiliate in level 1 recruits more referrals, they will be placed in level 2 under the initial affiliate.
This carries on, so when level 2 affiliates recruit more members, they will be placed in level 3, and so on. The below image shows how the unilevel compensation plans splits it’s dividends of plant sales on a percentage basis.
So as you can see, the Cannergrow unilevel compensation pays out like so:
- 5% – Level 1 (Per affiliate that has been recruited)
- 2% – Level 2
- 1% – Levels 3-5
On top of this, there is a Residual Income Bonus. So this is where you can earn a percentage of the total profit of your referrals. You can see these percentages in the above image.
MLM Success Is Rare
So what can you make of unilevel payment structures like these. Well, I can tell you that if you are a beginner, the failure rate is overwhelming. Of all the people who participate in network marketing opportunities, 73% either make no money, or lose money.
This is a startling statistic, especially considering half of all participants will leave within the first year of joining an MLM scheme.
To give you some idea of who makes the majority of money in an MLM scheme, here’s a diagram that explains the tiered level of profits.
It is possible to make money via an MLM scheme, but you need to be incredibly determined to sell and recruit. This can often result in loss of friends or family due to incessant harassment.
Profiting From MLM's Are No Longer Viable
A Different Model Of Income Can Earn You Thousand$ Monthly
Apart from the location discrepancies that I pointed out earlier, there are several other concerns I have with Cannergrow.
I’ve read on BehindMLM, that Cannergrow are committing securities fraud by not disclosing their representation in any jurisdiction it solicits investment in with financial regulators. This should be clearly stated on their website because Cannergrow is offering a passive investment opportunity.
While I’m not one to call Cannergrow a scam, it is a Ponzi scheme because it uses new investment to pay existing affiliates. It’s known with ponzi schemes that as soon as money dries up due to lack of recruitment, the ROI is not sustainable and will often collapse.
BehindMLM also goes on to claim that ‘Cannergrow is a good example of an MLM company using cryptocurrency, for no other reason than to commit investment fraud’. They see no reason why CannerGrow would be launching CADT (crypto token) other than to facilitate their investment fraud. If this is true, I’d be making sure you understand where your money is going should you become a Cannergrow affiliate
Having said that, I’m not here to tell you the Cannergrow is a scam, I’m just pointing out some facts that have been put forward in regards to the Cannergrow platform. You can then make your own decision on whether to invest with Cannergrow.
A Better Opportunity
There are so many possibilities to make money, online and offline. In my opinion, joining an MLM scheme is not one of the better opportunities. If you are determined to get in on the cannabis craze, then by all means, knock yourself out. Just do your due diligence and understand what will happen with your money when you release it.
Do I have a better opportunity to make money. This depends on your motives. If you’re searching for an MLM to join because you think this will make you money, I won’t be changing your mind. Just make sure you get involved with a company that sells products you have a passion for.
On the other hand, if you’re searching for an opportunity to make money online, why not consider building a profitable online asset. By this I mean a money making blog that will be sustainable for the long term. You can read all about this by reading my Beginners Step by Step Guide to Affiliate Marketing, or read my review on the best platform for teaching affiliate marketing. You can even create your own cannabis affiliate blog.
Tired of seeing Scams or endless fraud sites?
In conclusion, I’d like to reiterate that Cannergrow is a genuine company that has been setup with, on the face of it, good intentions. There are some legitimate concerns however, that I have pointed out.
If you intend investing in the cannabis industry, search around and make sure you know what you’re getting into. Cannergrow is just another scheme that asks you to invest and recruit others to do the same.
Like many people, I struggled in my early attempts to make money online. It's really frustrating when you try product after product, searching for that elusive opportunity that is really genuine.
Eventually though, I learned how to achieve success in the online world with my own website. This website was created to show others how to do it. I direct people away from the poor opportunities and advise the good ones.
But the simplest and least complicated is [Learn more...]
Disclosure: Links in this post may be to our affiliates; sales through affiliate links will not cost you any more. More info at my disclaimer page
The opinions in this article are solely mine, are are not intended to offend or discriminate. All information in this review has been researched on the public domain of the internet.