Pros
The owner & management are genuinely good people personally. Its a good place to learn how to do old school style recruiting and its fundamentals. Titles are thrown out rather easily, so its a good place to build a nice title on a resume before leaving.
Cons
The biggest problem is an identity issue. Do you like high sales numbers, or are you just happy as long as everything is done by the books, regardless of sales numbers? Sales positions either have a decent base or a decent commission. TPI has neither... It does make sense to start off low and make someone prove themselves, but this is not the case. A meager starting base/commission is never improved upon once you do prove yourself. Their version of reward is to make someone a "Branch Manager", which results in a very small pay increase. Thats the ceiling, theres no going higher than that. This creates a system where the ones who are rewarded are the types who are just hungry for a title or status, instead of money and production. Thinking "outside the box" is viewed as an assault on their "old school" ways, and its clear by the advancement of those who follow the system exactly as told (AKA brown nosing). Other than that, as someone else mentioned, its obvious that the owner really likes to hear himself talk. You will certainly hear plenty of stories about how they were slaying business up and down in the 80's when there was maybe one or two other competitors. You will also hear how "phones got us to this point", while completely ignoring the small invention of the internet, social media, and emails.