ProShare Review: No incentive to advertise
There is no information on the ProShare website indicating who runs or owns the business.
The domain ‘proshare.info’ however was registered on the 14th September 2011 with the registration information listing ‘Richard Harrold’ as the owner.
Harrold (photo right) appears to operate out of New York in the US and has recently run into some financial difficulties:
There are currently six (6) of us living in our home. Myself & My Fiancé and our 4 children.
The problem we are having is that our house is in FORECLOSURE. I have held the bank off for over 2 years but we are running out of time.
I have to admit that this is totally my fault.
I was a Pharmaceutical Representative for almost 9 years and was earning around $100,000 per year and made one of the dumbest mistakes in my life… I DRANK ALCOHOL and DROVE.
I lost a great job and cannot get it back. I, also, lost my driver’s license. I just got my license back 4/5/2011. It took 3 + years.
I had to cash out my entire 401k to help my family survive. But that has been fully depleted for over a year. And now I owe the IRS over $9,000.
The bills have been piling up for a while now and as stated the house is in foreclosure and at risk of being auctioned and ripped away from my family.
I am currently in debt well over $200,000. To pay off my mortgage completely I need $113,000+. I am currently over $45,000 behind on my mortgage payments and they will not accept any payments unless I pay off the entire past due amount or more.
Additionally, Harrold also appears to be involved in cash gifting scams:
This is bar none the best Gifting Program that I have personally encountered.
You receive Gifts after just getting One Person below you (whether it is from you or your upline)!
One would assume Harrold’s serious financial position is behind the launch of ProShare.
The ProShare Product Line
ProShare offer no retailable product or service, instead members must sign up to the company and only then can they purchase advertising.
This advertising is then displayed on an inhouse advertising network that features on the ProShare website.
The ProShare Compensation Plan
Once they’ve joined the company, ProShare members are then able to purchase advertising packs for $10 each.
ProShare pays out referral commissions on advertising packs bought my members you yourself have personally recruited.
ProShare pays out 10% on advertising packs the members you’ve recruited buy (your level 1), 3% on any their recruited members buy (your level 2) and 2% on the packs their members buy (your level 3).
There is also mention of “profit-sharing” in the ProShare FAQ, but no further or specific information is provided.
Membership to ProShare is free.
If ProShare do indeed offer their members a profit-share, then that turns the advertising purchases into investments seeing as advertising purchases alone don’t generate ROIs.
ProShare themselves confirm this with the terminology they use in the site’s Terms and Conditions:
ProShare will continue to do profit sharing with you as long as people keep on investing in the system, either through reinvestment of their earned money, or by buying new ad packages.
Why ProShare don’t go into more details on what appears to be an integral part of the compensation plan though, is a mystery.
Without the profit-share, ProShare looks a lot more legit except that there’s no incentive to purchase advertising from them, and that the entire commissions structure revolves around the purchase of advertising.
With little to no exposure and the only people likely to se your advertising being visitors to the ProShare website who are only interested in the income opportunity, advertising opportunities on the ProShare website are extremely limited.
If you joined ProShare, why would you purchase advertising that was essentially useless, just so your upline can earn referral commissions?
With nobody purchasing advertising nobody is earning commissions and without a profit-share incentive, the ProShare MLM opportunity as it currently stands doesn’t make a whole lot of sense.