[Bcooper]

The FTC is going to limit non-competes in the near future due to the recent executive order, so I wouldn't count on them. You can probably prevent them from stealing your merchants, but you can't prevent their relationship with funders. Even if you wanted to, how would you know? The non-compete isn't going to deter anyone.

it'll make great toilet paper tho

[mistamca]

Untrue . . .

You can restrict a Broker from soliciting existing Clients, Brokers and Funders that the specific Broker did not personally recruit, fund or personally bring to the table. You cannot restrict them from being in business, just from the actions mentioned above.

Have successfully defended these restrictions in the past - just different products / services.

As soon as you learn that funders are not your partners & honest funders still employ dishonest people, you will finally begin the MCA journey.

I love my funders. They are absolutely great but they are not perfect, just like I am not perfect. Those relationships took years upon years to build. I started at one shop, went to another, started syndicating in-house, then built my own brand. Guess what? All of this happened because I worked for someone that actually mentored me. I talk to the guy once a week. We co-broker all the time. Guess what? This is not common at all. I can't tell you how many stories I have of stealing, lying, fraud, and everything else. I learned all of this on someone else's dime.

You say you do not have time to learn in a different shop. I would say that you do not have time to grow a MLM while not knowing the ins & outs.

Oh your bank froze your account because you are MCA? What do you do?
Clawbacks for 3 deals in a row? How do make it so cash flow isn't hurt?

I can go on for days about all the problems that ONLY occur in this industry.

While it might sound like people on this thread are "hating" on you, they are all giving very good advice. I straight up have no idea how I would operate in this industry if I did not learn from someone.

NOW SBA loans. The bank actually taught me everything. They gave me training material. They set up training sessions. They let me pick their underwriter's brain. Funders aren't banks though.

[cruisinman]

The FTC is going to limit non-competes in the near future due to the recent executive order, so I wouldn't count on them. You can probably prevent them from stealing your merchants, but you can't prevent their relationship with funders. Even if you wanted to, how would you know? The non-compete isn't going to deter anyone.

Actually, the Agreement can have a clause stating just that. 100% dependable should someone wish to pay the costs until a judgement is received.

[TheUnderwritingProdigy]

Actually, the Agreement can have a clause stating just that. 100% dependable should someone wish to pay the costs until a judgement is received.

you really have no idea how shady this industry is... do you? lol

[cruisinman]

I love my funders. They are absolutely great but they are not perfect, just like I am not perfect. Those relationships took years upon years to build. I started at one shop, went to another, started syndicating in-house, then built my own brand. Guess what? All of this happened because I worked for someone that actually mentored me. I talk to the guy once a week. We co-broker all the time. Guess what? This is not common at all. I can't tell you how many stories I have of stealing, lying, fraud, and everything else. I learned all of this on someone else's dime.

I, too, am not perfect. But, I am willing to learn. I just have to do it on the fly. I believe that I have also met a mentor like you have.

Only been involved for a few weeks - but, I see some of the stealing, fraud, etc you speak of . . .

Clawbacks for 3 deals in a row? How do make it so cash flow isn't hurt?

All of my current Agreements do not have a claw back or charge back clause.

While it might sound like people on this thread are "hating" on you, they are all giving very good advice. I straight up have no idea how I would operate in this industry if I did not learn from someone.

I have thick skin. I appreciate the legit criticisms. However - some of the peeps are keyboard warriors beating their own drums. I am listening . . .

NOW SBA loans. The bank actually taught me everything. They gave me training material. They set up training sessions. They let me pick their underwriter's brain. Funders aren't banks though.

Haven't really studied the SBA process. But - one of the peeps from this Forum that is giving me advice has that relationship. We will explore SBA further down the road.

Thanks for taking the time to reply Mista . . .

[cruisinman]

you really have no idea how shady this industry is... do you? lol

I'm learning . . .

Thus, why our Network will have a very defendable Broker Agreement.

[TheUnderwritingProdigy]

I'm learning . . .

Thus, why our Network will have a very defendable Broker Agreement.

[cruisinman]

Thread kinda went off track . . .

Syndication seems to be a great way to make money on your money.

I like the fact that I can put up to 50% in our deals with the Funder putting up the balance. Everyone has skin in the game and it's in all of our best interest that we bring good deals to the table . . .

[cruisinman]

We are going to take a % of our net company revenues and put the cash into syndicating some of our own deals.

Totally excited about how much money can be made in the MCA should the deals be clean and the defaults minimal.

1000 Brokers writing $25k per month x 12% commission x 25% Syndicate Allotment = $750,000 per month to fund with on our part.

That specific Fund would input $9,000,000 in 12 months. Should turn the cash every 6 months, maybe 4 months.

1.49's should produce at minimum a total 25% ROI per 12 months.

[Michael I]

We are going to take a % of our net company revenues and put the cash into syndicating some of our own deals.

Totally excited about how much money can be made in the MCA should the deals be clean and the defaults minimal.

1000 Brokers writing $25k per month x 12% commission x 25% Syndicate Allotment = $750,000 per month to fund with on our part.

That specific Fund would input $9,000,000 in 12 months. Should turn the cash every 6 months, maybe 4 months.

1.49's should produce at minimum a total 25% ROI per 12 months.

and this is what happens when they make weed legal.1000 brokers lmfao

[ryan $]

Primerica meets MCA.... disaster all over it.

[cruisinman]

This is hilarious. 1000 brokers? it would be miraculous for You to have even 100 brokers for longer than a month no less 1000 for any length of time. But let me ask, how do you plan on getting new brokers and keeping track of their deals?

1000 Brokers within an MLM structure is actually a very nominal projection. 80% of those will produce very little, if anything. I imagine we will have closer to 5000 Brokers by 4Q2022.

To keep track of the Brokers production of all products / services we are developing a nice CRM that ties in with our Compensation Software. On the MCA side - you are partnering with Funders that have a platform in place to help us manage the Deals. But - the CRM will do 100% of the tracking and the followup. Down the road - when the volume makes sense - we'll use API's to integrate directly with the Funders platform - that is the goal anyway.

[cruisinman]

and this is what happens when they make weed legal.1000 brokers lmfao

Actually, with weed, the projections would be lower since we would be more chill.

[cruisinman]

Primerica meets MCA.... disaster all over it.

Primerica produces Billions, yes with a B, in Insurance Premiums each month.

Back in the 80's I joined ALW selling Term Insurance thru a MLM structure. Art was a Georgia Boy that could sell Ice to an Eskimo. I had hundreds of Agents on my Team and made some really good money for a 20 year old boy, also from Georgia.

Through evolution over the years - Primerica was born.

I am still a licensed Insurance Agent today, but I hate selling Insurance.

[ryan $]

Primerica produces Billions, yes with a B, in Insurance Premiums each month.

Back in the 80's I joined ALW selling Term Insurance thru a MLM structure. Art was a Georgia Boy that could sell Ice to an Eskimo. I had hundreds of Agents on my Team and made some really goo money for a 20 year old boy, also from Georgia.

Through evolution over the years - Primerica was born.

I am still a licensed Insurance Agent today, but I hate selling Insurance.

I could of used the example Cutco as well. Both make money. Crack Dealers make money. If making money was the only thing required in a "good idea", i mean ****, bank robbers rejoice!

[cruisinman]

I could of used the example Cutco as well. Both make money. Crack Dealers make money. If making money was the only thing required in a "good idea", i mean ****, bank robbers rejoice!

Cutco aka Vector, doesn't even come close to a Billion $$ in annual sales - no where near it.

But - I hear your point.

[RickyR3712]

How will you file taxes on what is coming in and going right out for being the middle man on investments? Have you spoke to any banks if they will let you bank with them?

[cruisinman]

How will you file taxes on what is coming in and going right out for being the middle man on investments? Have you spoke to any banks if they will let you bank with them?

TBH not quite sure. However - if other entities are earning by syndicating, I imagine we can too. Great question to find the answer to . . .

It will be a year or so before we are ready for the syndicating step.

Thanks for the questions Ricky