Updated May 5 2005
Are you interested in earning money passively and making income online? Or simply don’t like being tied to a business or a job? Then perhaps in your research you’ve come across a business called The Income Store. This company aimed to help investors earn revenue passively through online businesses.
Businesses like The Income Store, of course, don’t come without questions, such as “Is this something that will work for me?” “What exactly do they offer?” and “Is Income store legit?”
If you are keen to find the answers to these three questions, then look no further! We will provide you with a clear idea of what The Income Store does, if their products are ideal for you and if they are fraudulent.
Actually, since many of our readers may not have the time to get through the entire article and we don’t want anyone getting swindled, “spoiler alert” The Income Store is allegidly a Ponzi scheme may have embezzled hundreds of millions of dollars from investors.
Let’s examine who they were supposed to be and what happened, shall we:
Who is The Income Store?
Before we look at The Income Store’s product and service, let’s take a brief look at who they are and a little bit about their background.
The Income Store is managed by a team of thirty people from a larger company called Today’s Growth Consultant (TGC). They are a company which has grown significantly over the past few years; in fact, faster than over 18,000,000 other US companies, according to Inc. Magazine.
Their main service is offering is to buy and build websites that help their customers create passive income.
How do they do this exactly? We take a closer look at their products below.
What Do Income Store Offer?
So what exactly does this company offer their customers? Why should you get involved? The Income Store until recently had two different product offerings.
One was a complete outsourced model where investors would put in money and a website would be purchased or built on their behalf and then managed by the company directly. The other offering was to provide access to a wealth of expert advice in order to help investors and website owners manage their own website and income stream.
The Hands-Off Approach
If you wanted to own a website but weren’t sure how to go about it, don’t have a product to market, or simply don’t consider yourself as a creative person, then purchasing a website from The Income Store was a simple way to begin.
In fact, for some time, they had helped many individuals generate revenue doing just that!
As an investor or customer, you were required to invest a certain amount of capital in The Income Store, and with this money, they will go on to search for the best-fitting website to suit your needs. Once you were happy with the website they have selected, you would purchase it through them.
The Income Store at that point takes charge of site and focuses on growing and managing it for you (including marketing it and keeping it up to date). This then leaves you free to enjoy the revenue stream created, without having to do too much to keep it going.
Since Income Store managed the day to day of the site, they did take a management fee as a share of revenue
The hands-off approach offered customers peace of mind.
Build Your Own Revenue Generating System
If you wanted more of a say in how the website was run and wanted like to create and manage your very own, then The Income Store offered you a range of educational services to help you drive growth such as podcasts from various (over 400) experts in the profession who have also gone on to create high-earning websites. These podcasts were all free!
Ken Courtright, the main operator of the business, is one of the professionals who recorded a training program and is an expert in creating company growth, with a company that became a 5 time Inc.5000 honoree.
His growth formula, as well as consulting techniques, are all shared in his podcasts, so this can be very helpful for those who want to get started in creating and building their own.
As well as watching all the podcasts, customers are also able to attend the Forbe’s proclaimed “Can’t-Miss” events, which bring inspirational speakers to the stage from all walks of life, from founders to co-founders and consultants. These events bring like-minded individuals together and share a wealth of important, useful information which will help you create your own revenue-generating system.
Is Income Store Legitimate?
Well, this is where things kinda fall apart.
Ken Courtight “is facing civil and criminal charges in the alleged scheme, which lured investors with annual returns of up to 20% if they paid a six-figure “upfront fee” used to build and operate websites” says the Chicago Tribute. Apparently the promise of high returns was not sustainable.
There is currently a case open where the 500 investors who lost their money may have the opportunity of getting their websites in lieu of their capital returned to them since the company has less than $2M left.
What is sad is that The Income Store was doing well for it’s early investors, so much so in fact that 71% of their customers purchased more websites from them after their first purchase.
Income Store has been featured in many different magazines, including names such as Forbes, Market Watch and Inc.500, and all of their reviews have been quite positive. Just goes to show you, it’s important to be very careful when investing in alternate investment types.
If you prefer to earn money passively using social media, then take a look at AutoTweets.
As the name implies, this app will help you earn money automatically through Twitter. All you have to do is become a member through any of their three subscription offers, which all come with a 60-day money-back guarantee.
After which, you’ll be directed to creating your own Twitter account and will be presented with products and companies you can promote. Once you’re done, AutoTweets will do its job by promoting the product or company service to your followers.
For every sale made, you get a commission, doing absolutely nothing except setting up a Twitter account and choosing a market niche. What is more interesting is that you can create nine more accounts, with different niches, allowing you to increase your earnings or share it with your loved ones!
In answering the question, “Is Income Store legit?“, we can definitely confirm that it is NOT legit. Actually as of the writing of this article, you can no longer invest with them at this point.