If you’re looking for a job, stay the fuck away from anything dealing with “CutCo” or “Vector Marketing.”
Edit: Its not really a pyramid scheme… They just do everything they can to weasel out of giving you your paycheck on payday and because it’s sales commission, I don’t think they have to follow minimum wage laws since you’re not paid hourly.
Unless they’ve seriously changed how it fundamentally works (this was when I was 18). They never encouraged or paid extra for getting others to sell for you, like a typical MLM thing.
So what is actually the deal with CutCo? I know they’re a scam, everyone knows they’re a scam, but this one particular woman I know to be in general not a dummy, says her son spent the summer selling their knives once and made good money.
Okay, so, it’s not technically a scam. It’s an MLM. The salesman has to buy the stuff they want to sell up-front, and then they have to try and sell it to people. If no one wants to buy, then they’re stuck with a whole bunch of whatever–knives in the case of CutCo/Vector–and out the money that they spent. If they happen to be an exceptionally good salesperson, then they can sell everything they purchased, and use their profit to buy more, and sell more, etc.
The issue is that the knives aren’t particularly great. They’re solidly ‘okay’, and that’s about it. But despite being just kind of okay, the prices are on the higher end. That is, you can get Global or Shun for a similar price, and Global and Shun are both quite good. So if you’re a serious cook, your going to spend the same and get better knives. If you’re a typical home cook, you’re not going to see the value in spending that much on kitchen knives.
But! The real money is in convincing some poor sucker to buy his stock to sell from you. You buy from your supplier, and then you sell at a markup to some other poor schmuck that then has to sell knives at either a higher cost or lower profit margin to someone else. It’s a game of hot potato, and the person holding it at the end gets burned.
It’s not an MLM or pyramid scheme; it is regular sales employment. You’re not getting other people to sell them for you nor are you encouraged to find others looking to join the sales team. It just sucks dick because the pay is shit (and they go through hoops to pay you less or nothing; which is where the scam part comes in), they treat you like shit, and you have to basically sell them door-to-door.
It’s stupid because the knives are great products; I still have my sample set because they actually rock. They just only sell them like Tupperware clubs and only market them via word of mouth. They’d be making bank if they just sold them to retailers instead of fucking with young people looking for their first job.
I sold cutco knives for a month.
If you’re looking for a job, stay the fuck away from anything dealing with “CutCo” or “Vector Marketing.”
Edit: Its not really a pyramid scheme… They just do everything they can to weasel out of giving you your paycheck on payday and because it’s sales commission, I don’t think they have to follow minimum wage laws since you’re not paid hourly.
Unless they’ve seriously changed how it fundamentally works (this was when I was 18). They never encouraged or paid extra for getting others to sell for you, like a typical MLM thing.
So what is actually the deal with CutCo? I know they’re a scam, everyone knows they’re a scam, but this one particular woman I know to be in general not a dummy, says her son spent the summer selling their knives once and made good money.
Was he just lying to her? How does the scam work?
Okay, so, it’s not technically a scam. It’s an MLM. The salesman has to buy the stuff they want to sell up-front, and then they have to try and sell it to people. If no one wants to buy, then they’re stuck with a whole bunch of whatever–knives in the case of CutCo/Vector–and out the money that they spent. If they happen to be an exceptionally good salesperson, then they can sell everything they purchased, and use their profit to buy more, and sell more, etc.
The issue is that the knives aren’t particularly great. They’re solidly ‘okay’, and that’s about it. But despite being just kind of okay, the prices are on the higher end. That is, you can get Global or Shun for a similar price, and Global and Shun are both quite good. So if you’re a serious cook, your going to spend the same and get better knives. If you’re a typical home cook, you’re not going to see the value in spending that much on kitchen knives.
But! The real money is in convincing some poor sucker to buy his stock to sell from you. You buy from your supplier, and then you sell at a markup to some other poor schmuck that then has to sell knives at either a higher cost or lower profit margin to someone else. It’s a game of hot potato, and the person holding it at the end gets burned.
The knives are decent; if the only way to get a new one wasn’t through an MLM I might actually buy them.
It’s not an MLM or pyramid scheme; it is regular sales employment. You’re not getting other people to sell them for you nor are you encouraged to find others looking to join the sales team. It just sucks dick because the pay is shit (and they go through hoops to pay you less or nothing; which is where the scam part comes in), they treat you like shit, and you have to basically sell them door-to-door.
It’s stupid because the knives are great products; I still have my sample set because they actually rock. They just only sell them like Tupperware clubs and only market them via word of mouth. They’d be making bank if they just sold them to retailers instead of fucking with young people looking for their first job.