Retire Early with Direct Sales: The Pampered Chef Recruiting Idea

[bbauman07]

I had my bi-weekly training call with my director on tuesday. This is one of my new recruiting seed.

Who here could use an extra $500 - $1,000 a month? Who here has heard of the writer David Bach? He did the financial debt diet for Oprah over the Spring. I would like to read you a small part of his new book Start late finish rich. Then you turn to page 215. He talks about how the average person has no retirement set up so they will "work until they drop", direct sales is a great way to earn an extra $500 -$1,000 a month if you were to take a 1/4 of that monthly and save it you will be able to retire.

NOW HERE IS THE BEST PART!!!!
The only company he recomends signing up with is the Pampered Chef!!!!!!!
The words are on page 215 in his book!!!!!!

 

[soonerchef]

OMG, that is way cool. I am going to have to use this one...all I can say is WOW!!

 

[heat123]

I had my bi-weekly training call with my director on tuesday. This is one of my new recruiting seed.

Who here could use an extra $500 - $1,000 a month? Who here has heard of the writer David Bach? He did the financial debt diet for Oprah over the Spring. I would like to read you a small part of his new book Start late finish rich. Then you turn to page 215. He talks about how the average person has no retirement set up so they will "work until they drop", direct sales is a great way to earn an extra $500 -$1,000 a month if you were to take a 1/4 of that monthly and save it you will be able to retire.

NOW HERE IS THE BEST PART!!!!
The only company he recomends signing up with is the Pampered Chef!!!!!!!
The words are on page 215 in his book!!!!!!

Wow- cool! Did I also read somewhere on these threads (I think in the Tom Marshton post) that TPC is the only direct selling Co that offers a 401k plan to their consultants?? That would be another highlite to mention during this recruiting seed!

 

[cmdtrgd]

There is also medical insurance and retirement (at a certain level).

 

[jenniferlynne]

Wow!I did not know any of this. Thanks to all for sharing!!

 

[rayday]

I am picking up my chin from the floor now!!! That is so AWESOME!! I will have to mention this!

 

[lacychef]

Wow, that is very awesome! You know if he's associated with O then he must be pretty smart It's great to hear when someone like that agrees with what we all already know!

 

[tiffanypc05]

we can get a 401k account? Can you point me towards this?

 

[pampered1224]

Heck!I am going to get the darn book so I can show it in print! How totally awesome!!!!!!!!!

 

[bbauman07]

I just checked the book out from the library today. i will let you know what I think after I read the chapter on direct sales I did skim through it though and he does mention Warren Buffet, Doris and the PC.

 

[ItalianChef]

omg!!! Now I feel a littel better about this company makes me what to get out and have the NEED for SPEED (as they would say in Nascar) to hit the streets and start spreading the news

 

[ninawright]

Thanks for the great idea! I have been looking for a new idea and this is great!
Nina

 

[pkd09]

After I read this thead I went to the library and put in a request for the book. All of the issues were already out. What an awesome plug for our business. I plan on using this totally. Thank you for sharing this information. This group is the greatest!!!!!

 

[heat123]

After reading his tips, can anyone share why he thinks PC is the only Direct selling company you should invest in?? I mentioned it at a show last night and a guest asked that ? And I didn't have any response and thought I would find out.

 

[jhammer22]

I went to the library and got this book to see what it said. I don't believe he says that The Pampered Chef is the only direct sales company you should invest in. He does go over what a successful venture it has been and an example of a great direct sales company. He doesn't discuss any other direct sales companies in depth.

Julie

 

[bbauman07]

You are right he doesn't say that, my director told me he did, however though he mentions tupperware and avon. PC is the only company he elborates about, he talks about Warren Buffet and Doris. I did share this book at my show on saturday, I got 2 recruiting leads out of it, one lady has held her own show and has been to about 6 of my shows now, and only after I shared this info was she interested in the company. She doesn't have medical or a 401k.

 

[pamperedlinda]

After Janet mentioned this in another thread, I just had to give it a bump.

Has anyone read this book? Does anyone have it? Are these comments true? I'm going to have to look into getting this book.

I'd love a scan of this page if you can do it and post it or email it to me.

 

[pamperedlinda]

I found this too: Start Late, Finish Rich: A No-fail ... - Google Book Search

It's practically the entire book....pretty much all pages with reference the Pampered Chef are not there though guess thay want us to buy the book

 

[Get_Pampered]

If I remember correctly, Dave Ramsey also recommends the direct-selling business for the same reason. I will re-read my book and see what exactly he says ...

 

[susanr613]

great info - i just sent to my director to pass along to the team.

thanks!

 

[susanr613]

does PC offer a 401K to consultants?

 

[Koolotus]

Thank you! That book is wonderful

 

[Kitchen Diva]

I had my bi-weekly training call with my director on tuesday. This is one of my new recruiting seed.

Who here could use an extra $500 - $1,000 a month? Who here has heard of the writer David Bach? He did the financial debt diet for Oprah over the Spring. I would like to read you a small part of his new book Start late finish rich. Then you turn to page 215. He talks about how the average person has no retirement set up so they will "work until they drop", direct sales is a great way to earn an extra $500 -$1,000 a month if you were to take a 1/4 of that monthly and save it you will be able to retire.

NOW HERE IS THE BEST PART!!!!
The only company he recomends signing up with is the Pampered Chef!!!!!!!
The words are on page 215 in his book!!!!!!

My first time home buyer seminars were based off his Millionaire books...

 

[iddlebiddle]

I am a little late on this thread, but I bought the book out of the blue, didn't know it was on O, and I found us in there and started using it at my shows! that was about 6 months ago. I used it for a few shows, didn't get much of a response, but will start using it again because I haven't done shows since October.

It was really cool to see PC in there and that we were the only home based he suggested. Confirmed my decision when I became a consultant 3 years ago.

 

[Symara]

does PC offer a 401K to consultants?

I think if you go to my account on consultants corner it is there.

 

[legacypc46]

The financial planning info is also under the Pampered Perks listing on CC. The company is Principal Financial Group.

 

[cathyskitchen]

I just want to make sure everyone understands that Pampered Chef does NOT offer a 401(k) plan to all of its consultants. Only National Executive Directors are entitled to the official 401(k) plan for the company that the employees of PC are entitled to (think Home Office employees). A "401(k) Plan" is a plan that is qualified (per the Employee Retirement and Income Security Act of 1974) as an employee retirement plan for a company (in very simplified terms), and is usually only for company employees, not contractors, like we are.

The investment alternatives available to Pampered Chef Independent Consultants (Senior Executive Directors and below) throught Principal Financial Group are the following:

Traditional IRA
Allows your money to grow tax-deferred. That means you don't pay taxes on your earnings until you begin making withdrawals.

Simplified Employee Pension (SEP) IRA
Allows you, as a sole proprietor, to contribute more dollars for your retirement savings than a traditional IRA. This also allows your money to grow tax-deferred.

Roth IRA
Allows for tax-free qualified withdrawals. This means you don't ever pay federal taxes on earnings, assuming you meet certain guidelines.

Coverdell Education Savings Account
With changes in legislation due to the Economic Growth and Tax Relief Reconciliation Act, Education Savings Accounts (formerly called Education IRAs) have become a more effective savings tool.

Money Market Account
A Money Market Account is a mutual fund with check writing options. There is a $250 per check minimum.

There are some things you might want to know about these investments:

The Principal Funds Investment Program is available to U.S. Consultants actively receiving commission.

Minimums
As a Consultant with The Pampered Chef, you are eligible to participate in a monthly investment plan. The monthly minimum is:

$100 per fund (for each product)

Sales charges
Distributions of Principal Investor Funds invested less than 18 months from deposit will incur a 1 percent Contingent Deferred Sales Charge (CDSC).


These sound very similar to the retail accounts you can invest in at any major financial investment company as an individual, with slightly different minimums/charges. I would recommend to anyone who is interested in calling the number to get more details before signing up, to make sure you choose the investment option and provider that is right for you. I work at a major financial institution as my other job, and not every investment is right for everyone, and not every financial institution shares your same values and goals. Hope that helps!

 

[pckellyd]

I do want to throw a quick caution out to everyone who uses verbage like:
"We're the only direct sales compant that offers this" or "Only PC can give you ..." Other companies have similar programs, and if you're saying that they don't you may be setting yourself up for a major confrontation at a party.

I had a party once, I think it was candles when I sold MK, the candle consultant kept saying we offer this and that and no one else does, well MK did and I planned on letting her know that privately later, but a friend of mine and fellow MK consultant finally had enough of what she considered the candle lady bashing her company and let her know that she was wrong. While my gf did it kindly, it threw the rep COMPLETLY off and she didn't really recover. She lost any potential recruits at that show and I did have I think 1 or 2 friends who were interested at that time.

As far as 401K MK doesn't offer one exactly... but their National Sales Directors upon retirement get the average of their last 5 years of income every year for so many years (possibly 20) and if they do happen to pass away before the 20 years is up that amount continues to their beneficiaries.. that amount is usually in the 6 figures/year. I don't remember exact specifics... but that is one examples of a retirement plan.

Sorry this got so long... just don't want anyone else ambushed like that

 

[cathyskitchen]

Very good points, Kelly.