IncomeStore Due Dilligence
To do due diligence on Income Store in order to assess the investment opportunity.
INCOME STORE'S CREDENTIALOur preliminary research suggests that Income Store is a legit company in the business they claim to be in on their website. The company is ranked 1,450 in the 2018 INC 5,000 Rankings and 1076 in the 2019 rankings. Inc is a media company with a solid reputation and they track thousands of business globally.In Pennsylvania, the company is ranked as the 33rd top private company, according to Inc. The company's revenue has grown by 389% in the last three years. The company is also highly rated on Glassdoor (4.7/5 rating from 60 reviews), with employees leaving positive reviews about how impressive the company's SEO strategy is. The company is part of Today's Growth Consultant, which has been in business since 1992.They have over 900 income-generating websites currently and has traffic in excess of 200 million visitors annually.
INCOME STORE'S PROMISE REALIZATION
- While we were able to determine that the company is legit from external sources, we were unable to find a solid third party review about the company that sheds light on if they are able to keep their promise.
- We found several interviews of the CEO, Ken Courtright, where he suggests that the company is able to keep its promise to investors and provides examples of their business model. However, it is unclear if all sites under their management perform optimally or if he only cherry-picked the best.
- A poster in an online forum where the company is being discussed noted that he is "currently only making the minimum ($1,250 a month) as the websites aren’t throwing off enough income to exceed that yet. It took them quite a while to buy a website (they are estimating 3-6 months for new buyers) but they pay you the 1.25% monthly even before they find and buy the actual site."
- There is a thread of discussion about the company in the forum but only the comment above is from someone that has actually invested in the company. However, while it is encouraging to know that they actually do keep their promise, skeptics opine that it is easy to pay $1,250 monthly to investors from their $100,000 deposits.
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