So it seems like there is another company that gets a lot of attention within the network marketing industry. The company is My Warranty Rewards, and if you’re reading this, you’re probably thinking of joining. But before you do, I want to encourage you to first read this simple yet detailed review of My Warranty Rewards. I want to disclose at this time that I am not a My Warranty Rewards dealer, so you can be sure you will get an unbiased perspective of the company, the product, and the business opportunity. With that out of the way, let’s bet we get started…

Who is My Guarantee Rewards?

First things first, let’s see who the company is and what they market. My Warranty Rewards is a company that sells extended warranty plans through a network marketing business model. The company was started in Texas by co-founders Jay Tuerk and Yoni Ashurov. Both gentlemen have impressive resumes and bring decades of combined experience to the company. My Warranty Rewards is actually the marketing arm of Matrix Protection, which is a leading provider of month-to-month warranty plans. In fact, Matrix Protections already has 600,000 customers across the country, so you know they’re a legitimate operation.

From a marketing perspective, there were a few things that stood out to me when I looked at My Warranty Rewards. First of all, the extended warranty industry is a $50 billion industry, so positioning yourself against a growing industry like that is definitely a plus if you join. Second, since it can save people money, it’s an easy concept to talk about. How do you save people money? Instead of paying hundreds of dollars a month for separate warranty plans to cover all of your different electronics, you can offer them one plan that covers all of their devices for $29.97 a month. And third, there is no limit to the number of devices the Matrix Protection Plan can cover, including past, present and even future purchases. As you can see, it’s a pretty simple concept and an easy conversation to start with potential prospects, which is very important when considering a product to promote.

How do I earn money from my guarantee rewards?

To earn money with My Warranty Rewards, the first thing you need to do is become a dealer. The cost to start your business is around $100, which includes your $29.97 Matrix Protection Plan that covers all of your personal devices. It is quite inexpensive compared to other price points in the industry. The compensation plan itself is fairly straightforward and offers several ways to earn income.

Here is a simple breakdown of the different ways to benefit from the compensation plan:

1. Customer Bonus – You can earn a $10 bonus every time you sell someone a warranty plan. This bonus is paid out weekly so you can earn immediate income.

2. Expansion Bonus – Once you personally sponsor someone, you can earn an additional $30 if you can help them get their first customer within their first 30 days. These bonuses are also paid out weekly, so it’s another way to earn immediate income. As you rank up, you can also earn overrides when distributors on your team qualify for Expansion Bonuses.

3. Customer Residuals – Depending on your rank, you can earn between $1 and $7 per customer on your team. To earn Customer Residuals, you must first reach the position of Senior. Residuals are paid monthly and you can start generating back-end passive income with this bonus.

4. Team profit sharing: The company also has a 2X12 forced matrix. You can actually benefit from distributors who are not on your team, but you have to get in early so you can get a prime position in the Matrix. You can earn between $.25 and $3 for each distributor in your Matrix.

5. Check Match – You can earn a 25% match on the income of all of your personally sponsored distributors. This gives you an added incentive to work with your direct distributors and help them earn money.

6. Lifestyle Rewards – For top producers, there are rewards that are above the compensation plan. The company provides up to $500 per month for health and life insurance. There is also the opportunity to earn up to $1,000 per month for a luxury car bonus. And there’s also the opportunity to earn up to $3,000 a month to pay your rent or mortgage. Having the opportunity to earn these lifestyle rewards is great, as you don’t have to dip into your actual earnings for these expenses that you have to pay for anyway.

All things considered, the compensation plan is quite attractive and can be very lucrative for the right person with the right skills and mindset.

Should you join?

Well… only you can answer that question. The company certainly seems credible as Matrix Protection has been around since 2006 and already has 600,000 customers. There’s no way a shaky company can be in business that long, so you can feel good about it. The product is an “easy sell” as it basically offers people savings and the compensation plan is very generous. This is all good, but does it mean that you will automatically see personal success? Unfortunately not. While all of those things are beneficial, your personal success will depend on your ability to sponsor new people into your team. Without the ability to consistently sponsor new people, you have little to no chance of building a successful business.

My recommendation is that you learn Attraction Marketing so that you can get online MLM leads. If you can incorporate attraction marketing into your business, there is no telling how prosperous your business can be.