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MLM or Network Marketing is the best part-time business ideas. There are many MLM companies across the world who earns crores of rupees every month with minimum work.
But you need to be careful before joining any MLM company. There are many scam companies acting as a network marketing company.
Have you heard about Amway? Did anyone approach you about joining Amway as a distributor?
Well, if you are considering joining, read on to learn everything you need to about the company, its products, and its opportunity.
What is Amway?
The company was established in the year 1959, by Rich Devos and Jay Can Andel. The company is based out in Ada, Michigan. It is an American company which operates the marketing work to sell beauty, healthcare and home care products.
Amway is a direct-selling business that has been in business for more than 50 years, established in more than 100 countries. It’s is one of the highest revenue producing network marketing company across the globe right now. The company prides itself in being a family company with a global management team in place to assist independent distributors. Amway aims to help people start their own business with the assurance of a low startup cost, access to exclusive products, and a 100% satisfaction guarantee.
When it comes to products, Amway has huge number of products. Their products range from health supplements and Beauty products to laundry detergents.
Among all other mlm companies out there, Amway has one of the highest products on the planet. Further, when I checked the prices, the products are quite expensive. The company claim it’s because of the quality and research that goes into manufacturing these products.
Amway product categories include:
- Nutrition – Vitamins & supplements, weight management, sports nutrition, and energy drinks.
- Beauty – Skincare, makeup, and more.
- Bath & Body – Hair care, body care, and oral care.
- At Home – surface care, Laundry, dish detergent, cookware, and more.
- Jewelry & Accessories – Necklaces, bracelets, gift sets, and more.
- Fragrances – Several selections from Personal Accents.
- B2B Products – cleaning, Commercial-size agricultural, and laundry products.
How Amway Works?
Amway is a direct-selling company. This means that their business plan depends on individuals selling their products, who earn commissions for each sale. In particular, there are 2 methods you can enjoy Amway, as a customer by purchasing products, and as a business owner selling products.
Cost To Join Amway
Cost for signing up as an Amway distributor vary depending on the Business plan you choose:
- IBO Literature Kit = $62. Includes a detailed guide to start your own business with Amway, brochures and training programs, as well as information about the company’s bonus programs.
- IBO Product Kit = $83.99. Includes everything found in the Welcome Kit, in addition to $150 worth of full-size products that you can try.
Amway Business Plan
Amway has two revenue streams, direct selling, and multi-level marketing. The company follows the stair step breakaway compensation plan, which is the oldest type of MLM compensation plans. There is a header which says “We Are Our Own Bosses” which seems to be quite appealing.
The plan is comprised of different levels of career path. The first stage is a direct distributor, who attains the further following levels.
- Silver Producer
- Gold Producer
- Platinum Producer
- Q 12
A Distributor immediate income is a total amount you make from product sales minus the total amount it costs to buy an inventory.
For instance: If you purchase $1,000 worth of inventory each month and sell $3,000 worth of product, then your immediate income for the month is $2,000.
Each month you purchase a product for yourself and this is your PV (Personal Volume) when you introduce a new distributor it adds to your PV and rewards increases accordingly as this is root on which the growth of turnover is achieved. As the % increases, bonus paid increases as well until you reach each step in the plan, starting at 3% and rising to 21%. Those are provided from the presentation given by an IBO and this may no longer be accurate however the principle remains the same.
Recently, India has become the third largest market for Amway over the last 10 years. This is because of the direct selling major embarks on a new omni channel strategy which is applicable later this year. As per the survey, China tops Amway’s global market with an annual revenue of USD 2.5 billion. India ranks on the seventh position below Korea, the US, Japan, Thailand, and Taiwan.
After investigating the company, all I have to say Amway is 100% Legit. This is an excellent business platform and with the support and right leadership, you can make a lot of money. However, it will take time to create a substantial income and you will have to spend most of your time on this.
- The compensation plan can make you a lot of money.
- Amway has been operating for a long run and it is a household name around the world.
- You can help others while helping yourself.
- They have given more income to their distributors than any other direct sales company.
- overpriced products.