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Pre-Paid Legal Services Inc.

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00000

Score Breakdown

  • Value to You: 00000
  • The Brand: 00000
  • The Team: 00000
  • The Frontline: 00000
  • Resilience: 00000

Company Snapshot

  • Product(s): Legal consultation services
  • Marketing Style: Person-to-person
  • Compensation Plan: Multi-level
  • Year Founded: 1972
  • Corporate Revenue: $464.5 million
  • Markets: United States and four Canadian provinces (Alberta, British Columbia, Manitoba and Ontario)
  • Distributors: 425,000
  • Employees: 813
  • Headquarters: Ada, Okla.
  • Stock Symbol: PPD—NYSE
  • Website: http://www.prepaidlegal.com

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Pre-Paid Legal Services Inc. is a $464.5 million business that specializes in legal consultation services to be sold in a person to person marketing style.

Pre-Paid Legal Services was preceded by The Sportsman’s Motor Club, founded August 8, 1972 by Harland Stonecipher.  Stonecipher had been involved in an accident and had insurance for everything except legal fees, according to the company web site.  Stonecipher started the Sportsman’s Motor Club for legal expense reimbursement services and spoke at the American Bar Association in 1974.  Pre-Paid Legal started out with only 3 distributors and was on the Nasdaq list.  After some tough financial times for the company, they went from 230 employees in 1987 to just 85 in 1990 but rebounded in 1999 to boasting 491 employees plus addition to the NYSE.

According to the company’s web site, “You only get as much justice as you can afford. If you don’t know your rights, you simply don’t have any”.  Pre-Paid legal states on their web site that they offer legal assistance for $312 a year or less but this is true only for the standard plans not including possible add on options.  The self employed and business plans do cost more which range anywhere from $598 to $1510 after the $10 registration fee.

HOW IT WORKS:

Even in the very basic plan, PPL will defend you against charges of vehicular homicide at no additional charge.  And, every year you renew, PPL provide additional hours of service at no extra charge.  Having a will drawn up costs only $20 with $20 for changes after that.  They offer up to 60 hours of lawyer time for a trial defense in the basic plan.  It’s easy to see how a person could save a lot of money with even the very basic plan.

Pre-Paid Legal is located in a 170,000 square foot corporate office on 80 acres in Ada, Oklahoma, US and they operate in four Canadian Province.  They currently have over 813 employees and 1.5 million distributors.

Average start up cost: $249.00

 

Comments (1)

  • Kevin Ericson

    This is a great company! I’m a member and some day I’ll be a business owner. I’m saving my money and plan to get started soon. Any feedback on this opportunity would be greatly appreciated!

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