Frequently Asked Questions
Q: What is a business network or referral group?
A: Business network groups (BNGs), also known as business referral networks or leads clubs, are networking organizations focused on giving and receiving referrals. For business owners seeking rapid results, a business referral group can be a proven method for expanding their customer base.
A key component of a BNG is industry exclusivity, meaning only one person per profession is permitted to join a group or chapter.
A business referral group typically restricts membership to one person from each profession, specialty, or industry. This prevents members from competing against each other for business. For example, if you are a plumber, you cannot join a business referral group that already has a plumber. Each group determines what constitutes a conflict of interest. For instance, an attorney specializing in personal injury law and an attorney specializing in estate planning may not be considered competitors, so both could join the same group.
Q: Is membership FREE?
A: Yes, membership is free.
You pay 5%* of the gross sale or commission only when a referral (generated by our business or homeowner members) converts. However, if you attend (optional) quarterly or yearly in-person meetings, you may need to share expenses for the conference room (and food, if provided) with other local members.
*Note: Some businesses or professions legally prohibited from paying referral fees do not pay any fee. Please see this website for a list of these businesses.
Q: What is the difference between a Maxment business referral group and other referral groups?
A: Membership is free. Maxment’s mission is to sign up 100 business members per group so each member can potentially generate $360,000 in annual referral business. This focused goal distinguishes Maxment from other groups.
Q: Who can join a chapter?
A: Maxment is exclusive: only one person per professional specialty is permitted to join a chapter. If your specific “business category or niche” is no longer available in your chosen city, you cannot join.
Q: What are the joining requirements?
A:
- All applicants must be sponsored by an existing member.
- Real estate agents must have been in business for 3 years and have closed 12 clients total in the past 3 years, with 4 of those clients from the past 12 months.
- All other home service providers must have been in business for 3+ years and generate $100,000+ per year in gross business or $50,000+ per year in gross profit. (Note: If you own a franchise, there is no minimum gross sale/profit or time limit.)
Q: How do you ensure new members are reputable?
A: This is an invitation-only group. All members must be invited by an existing member. Once you are in the group, your local chapter’s membership committee may also ask additional questions about your business and request references. We may also request your license number if required by state or federal law.
Q: What if a member receives a referral but performs the work poorly?
A: Maxment local groups maintain a high code of ethics that all members agree to uphold. Any member who unsatisfactorily handles referrals must be reported to the membership committee for investigation. All members must also maintain an average Net Promoter Score or customer rating for their category.
Q: Which occupations benefit most from networking?
A: Residential real estate agents and home service providers from 100+ categories benefit most. Financial advisors, insurance brokers, real estate attorneys, and mortgage brokers also benefit significantly. For a complete list of approved business categories, please see all 100+ categories on biz.maxment.com.
Q: Is my network large enough to bring consistent referrals?
A: While there is no guarantee, once your group reaches 100+ members (which may take 6–12 months for a new group), based on national averages, it could generate $360,000 in annual referral business for each member. (Added “could” for accuracy).
Q: Are members expected to sponsor new members?
A: Yes. If your group has fewer than 100 members, each existing member should actively sponsor up to 5 new members.
Q: Do ethical rules for certain professions prohibit participation in Maxment?
A: If Maxment’s general rules potentially violate a professional’s ethical code, the professional’s code of ethics supersedes Maxment’s rules. A primary objective of Maxment is to educate members in ways that will market and grow a business.
Q: My profession does not allow me to directly solicit business. Is Maxment still right for me?
A: Yes. Maxment’s primary objectives are to assist members in improving their business and educate them to become more proficient at networking. Professionals earn business when their expertise is known, and when others trust them. Maxment provides a valuable forum that can facilitate introductions, build credibility, and increase profitability.
Q: In my profession, my area of specialty is narrow. Am I expected to be an expert in all aspects of my trade?
A: No. Maxment understands that many professions are broad and that people often specialize. Maxment does not expect or encourage any professional to participate in an area in which they do not have expertise. On the contrary, Maxment prohibits professionals from acting outside the scope of their abilities.
Q: Is there any guarantee?
A: NO GUARANTEE of any kind. Disclaimer: Although Maxment’s stated goal is to sign up 100+ business members and 10,000+ homeowners from each of the 2,000 U.S. cities listed on our website, there is absolutely NO GUARANTEE that Maxment will be able to sign up 100+ business members or 10,000 Maxment Homeowner Subscribers (MHOS) for its MaxmentPro directory from your chosen marketing area or city.
Q: Which countries are allowed?
A: Currently, only U.S.-based companies are allowed.