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OUCH, Pre-Paid Legal is in the news again and it doesn’t look good…
By action | February 24, 2011
OUCH… Pre-Paid Legal has just released their financials for 2010 and the 4th quarter results are not looking good at all.
Take a look for yourself…
During the 4th quarter of 2010, new sales associates enrolled decreased 54.3% to 28,160 from the 61,623 enrolled in the 4th quarter of 2009 and new memberships produced decreased 20.8% to 117,472 during the 2010 quarter compared to 148,248 for the 2009 quarter.
With the recent news that New York-based private equity firm MidOcean has merged (aka bought out) Ada, Oklahoma-based Pre-Paid Legal Services I don’t see much of a future for the MLM part of PPL. I predict that the MLM division will cease to exist within the next 18-36 months. I predicted a merger back in October of 2010 on Facebook and had dozens of people say I was crazy.
I can only imagine how many of the Platinums (I was previously part of that group) are looking for an exit strategy. Publicly they are talking like everything is roses & sunshine but behind closed doors these leaders are freaking out.
J.R. Jackson
801.310.0015
http://JRJackson.com
- Posted from my iPad
Topics: Uncategorized | 3 Comments »
3 Responses to “OUCH, Pre-Paid Legal is in the news again and it doesn’t look good…”
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February 24th, 2011 at 2:41 am
Yep, it’s been a 3 year trend…it will be interesting to see what these life timers will do…
March 1st, 2011 at 2:42 pm
I agree J.R.
There has been so much press about PPL of late.
The leaders must be trembling… I will be surprised if the MLM division even makes it to 18 months.
Seems like a great group to prospect.
Appreciate your foresight!
RichardP
Richard Petrillo recently posted..MLM Prospecting – Finding The Perfect Group – How To Generate Your Own Leads!
May 31st, 2011 at 12:53 pm
Wow! I apologize for not keeping up on your blog post JR but I have been busy with other things as of late, I got out of the military and was originally intending on taking PPL to the next level but something didn’t fit. So I went my own route, started my own SEO business and all that and its working wonderfully. But I watched how things panned out, Harland stepped down, and just like the majority of all companies where the founder/CEO leaves the company falls apart and this happened very fast with PPL.
Merger= Takeover is absolutely correct. I don’t know whats going on but I am glad I told everyone to get out while they could. Great post, Thanks.
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