Man figures out way to make money on telemarketers who call himBy Mason White 6:00 PM September 2, 2013
By: Debbi Gross
(Scroll down for video) A man was fed up with telemarketers, so he came up with a way to make money off them.
Now, the man is actually looking forward to their calls so he can make money.
Lee Beaumont of Britain, was annoyed by telemarketers disturbing him at home until he came up with an idea that would discourage companies from bothering him, and if they choose to call him anyway, he will at least profit from it.
Beaumont installed a phone application that charges people a per minute fee for incoming calls. Callers are charged around 15 cents a minute, 70 percent of which is profit. The line itself cost him $20 to set up.
To date, he made about $480. He installed the application in 2011.
The number of unsolicited sales calls he received has declined sharply, from 30 per month to a little over 10 per month.
He admitted that now, when telemarketers call him, he tries to keep them on the phone as long as possible to make more money.
Regulators do not recommended doing it, since the results can be risky. For example, one must inform callers that they are being charged a higher rate for the call. If one fails to inform callers of the higher rate, it can result in fines.
Even after telling them about the higher rate, Beaumont said that many companies choose to continue the call.