- Report: #668460
Report - Rebuttal - Arbitrate
Complaint Review: Rich Dad Coaching
Rich Dad Coaching4255 Lake Park Blvd. Suite 300 Salt Lake City, Utah United States of America
Rich Dad Coaching My experience with the Rich Dad Education Franchise Salt Lake City, Utah
*UPDATE Employee ..inside information: Don't blame your trainer...
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I am a HUGE Robert Kiyosaki fan. I really think this man is legendary. I have re-read all his books several times and listened to his CDs time and time again.
When RD Education/Coaching came out, about 2 years ago, I thought it was a great opportunity to get some seminar training. Since I log into the Rich Dad site often, those ads targeted me in no time.
I went to the free seminar. It was somewhat informative. Nothing life changing. Since I take and attend various seminars, I am used to the selling and marketing pressure and strategies, so didn't make much of it. I came in expecting to pay for the next one, so the $500 wasn't really a surprise.
They let you bring in a friend, so I brought a friend of mine. We attended the 3-day course. The instructor covered a lot of ground but mostly in the sense of "there's much more to learn and you need to take this course". The instructor worked the audience into expanding their borrowing capacity, by priming us to make list of friends we can borrow money from, calling to expand credit card lines, even changing number of dependencies on the W2 form without telling anyone they will owe money in taxes at the end of the year.
There was a lot of pressure to take the next courses, which I believe started at $10,000 each.
At that time I was pretty much set on doing a course and trying it out, and I did have an extra $10,000 in the bank, so I registered with someone else together, paying each $5,000.
2 days later he got cold feet and canceled, so we both got our money back.
After that I lost interest in the "Education" part but I called to the "Coaching" part. That's where the story begins.
I got a call back and still remember - was on the phone for an hour with this guy, who was trying to persuade me to sign in, saying they have to review and see if they can accept me, that they don't take just anyone and bunch of other stuff.
So I registered and paid about $8K. It was the "Entrepreneur" course. I had a mentor where we had like 20 phone calls or so at a set schedule, an online component and a workbook.
There isn't much to say about it - it was very basic. Maybe worth $350 total in my opinion. My mentor was a nice guy, but I don't really know anything about him.
It really was not productive at all. The whole thing. I practically learned nothing. The worst part is what they call the resource line, a line they urge you to call where you get free advice from them. I called twice and it was always some young kid on the line, handing some neophyte advice.
I am not looking to blame anyone - it was my choice and at that time I really wanted to do something and take a seminar.
But I do think that they are scammy. Super scammy. From A to Z. From my understanding, they licensed RK name and ideas. I hope he is wise enough to take it away from them. People should not be pressured to borrow $10,000 on credit card to take a seminar. That is criminal.
There are 1001 ways to learn this stuff and find mentors and teachers. Some courses are really great. I've done some amazing ones. And some are just awful.
If you want my advice - stay away.
This report was posted on Ripoff Report on 12/06/2010 01:50 AM and is a permanent record located here: http://www.ripoffreport.com/r/Rich-Dad-Coaching/Salt-Lake-City-Utah-84120/Rich-Dad-Coaching-My-experience-with-the-Rich-Dad-Education-Franchise-Salt-Lake-City-Uta-668460. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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