The Leadific partnership program promises online entrepreneurs a passive income opportunity through CRM software that can be white-labeled. Anyone can start a SaaS business without coding experience and minimal capital. Leadific is an all-in-one marketing CRM designed for generating traffic, nurturing leads, and closing sales. It has a comprehensive dashboard that allows users to access, control, and monitor marketing tools in a single platform.
A Leadific subscription costs $399 monthly or $3,990 for a year. Both pricing options have a 14-day trial and include access to
An agency account,
unlimited client accounts,
leads and contact storage feature,
3 domain warming accounts,
a phone validator,
premium staff support, and,
a white label option.
All purchases are final and non-refundable. There's no pro-rated refund on unused portions of the subscription.
Abdul Farooqi Samad and Chance Welton are the creators of the Leadific software. They are also the proud founders of Modern Millionaires. Abdul is originally from Vancouver, British Columbia, Canada. He completed his bachelor's degree in commerce from the University of British Columbia. Before starting Modern Millionaires, he was an investment banker who worked for 12 hours a day, 6 days a week. Chance lived an opposite lifestyle. He lived a carefree, hippie life, living and traveling in a van with his girlfriend. He received $116K in life insurance when his father died in 2010. But he did not manage it well and was down to his last $1,300 just four years later. This prompted him to find an immediate income source and signed up for Dan Klein's Job Killing local lead generation course.
Abdul and Chance became Dan's students in 2014. Abdul landed his first client less than a week into the program, and Chance made $2K on his first client in just a month. Both were making $50K monthly passive income before their relationship with Dan ended because of various disputes related to Modern Middlemen (former name of Modern Millionaires). The following year, Abdul and Chance started their agency from home called the Officeless Agency, and in 2019, the Modern Millionaires' educational platform was opened to the public.
Modern Millionaires and the White Label SaaS Business Model
Modern Millionaires have a software-as-service (SaaS) product offering called Leadific that can be white-labeled (rebranded) and re-sold to other users. Inside the Leadific platform is an agency account where the subscriber can create unlimited sub-accounts or client accounts. The software has a feature that stores leads and contacts, plus a domain-warming account for nurturing leads and closing sales. The Leadific software
Builds sales landing pages, funnels, and websites,
follows up leads and,
nurtures and books appointments.
White-label SaaS businesses usually cater to B2B (business-to-business) clients who are looking for an easy income but low-capital venture. Digital products such as software and tools can be rebranded and sold online either for a one-time payment or through a monthly subscription. What I like about Leadific is that there's no cap on the number of sub-accounts you add under the main account. So, you can sell to as many users as you want. It all sounds promising, almost too good to be true. And I'm not the only one who's skeptical. Other people online also feel there's something off.
While digging about Leadific, I came across a thread that made a really good point. Mediastrike said on Reddit: "If they get lots of people to sign up lots of companies, do you think they are going to let you keep taking 100% of that recurring revenue forever? Hell no." Behind all the sweet promises, Modern Millionaires still has full control over new and old subscriptions. And, even if you do good in acquiring long-term clients, you don't own the software, and MM can change policies and charge royalties anytime. You'll basically be working for them by being in the Leadific partnership program.
Abdul and Chance mentioned over and over in their ads that this software can make $10K to $30K monthly. These figures are almost unrealistic for newbies to achieve. The gross profit margin of a subscription is between 68% to 75%. And the median cost to sell a subscription is $1.2. Scaling a SaaS business is difficult. You need to constantly innovate your business through R&D and marketing. But white-labeled SaaS cannot be altered, they can only be rebranded. Which means you can't innovate or stand out from the competition. Aside from external competition, there are lots of other entrepreneurs that white-label Leadific. You're also competing against them. Basically, selling exactly the same product only with a different name.