Business Name: Amway
Website Address: www.Amway.com
Business Owner: Rich Devos and Jay Can Andel
Overall Rank: 52 out of 100 points
Amway stands for American Way and it is launched by Rich Devos and Jay Can Andel back in 1959. Over 50 years have passed and it is still very solid and have more than 100 countries. Company started products were vitamins and with the passage of time it add more product lines like cosmetics, detergents, health items, household items and electronics. It was rewarded many rewards due to its outstanding performance and it has largest revenue generating network marketing company.
Amway uses direct selling organization that uses Multi-Level Marketing (MLM) to market its products. In order to earn money from this system you have to create referrals and also your referrals require further recruitment in order to earn you good amount of money. When your down line increases then you can also earn good amount of money.
The essence of business is to sale the company products and business tools and whenever you or your team consume or sell products, you get “points”. These points then convert into money and more points you have, the bigger the paycheck. I think now you understand the system well and your task is to create a large down line that is continuously buying and selling products.
Training’s and Support:
Company provide deep training on how to sell products to customer’s including;
- How to get more leads using internet.
- Different coaching programs.
- Personal development.
- Business education.
There are different ways you can use the support from the system including:
- You have always a support from your sponsor and other members.
- There is a customer support section that will answer your questions.
- You can choose the online or in-person training for better product and sales knowledge.
Pros vs. Cons:
- It has been around more than 50 years and are paying to its members that are promoting its products. This company is also generating high revenues on consistent basis.
- You can earn money from this system but it require lot of efforts and your income grow slowly as your down line build.
- Company also offers bonuses and other incentives to its hard working workers.
- Attending meetings and presentations with top marketers may enhance your marketing skills that is essential for this type of business.
- There are wide variety of products available to promote.
- This is an MLM company and I have personally experience other companies like these but one thing I learnt is that they are very tough to work on. Only top liners are taking big share while people in down line work very hard but gain very less share.
- It offers very expensive products to people. This is understandable because it has to pay commission to people for promoting its products. This makes system difficult for members to promote product to people when other similar product are available in the market at a lower price.
- You need to require lot of marketing skills in order to promote products to people. Most of the time you will be unsuccessful but due to your persistent efforts it will eventually pay you.
- MLM business model has the most unsuccessful rate in different business model so it is better to join other system.
- Your purpose is only recruiting new people so why not join other platform that guides to build successful business online. You can start affiliate marketing or create your own product and sell online. My suggestion is to start with affiliate marketing and then convert into creating your own products and recruit other people that will sale your products.
In order to join the system and get your membership then you have to pay $62, which will give you some printed literature. If you require some popular company’s products samples then this will cost you an additional $83.99 and allow you to become conversant with the products so that you can sell them more easily to peoples.
How You Earn Money Using This System?
Amway independent business owners (IBOs) are rewarded in 2 ways.
First, if you sell products then you get a commission on the products you personally sell. Apart from this you can also earn from your down line if they made.
This incentive can be range from as little as 3 percent or as much as 25 percent and it all depends on sales value.
Well to be honest we cannot call company a scam that are paying to its members over 50 years. But definitely you have seen other reviews that mark Amway in a bad way? The answer is simple – MLM is the most difficult earning methods, and people join because of seeing one or two leaders that are earning nice but when they actually join then they come to know that it is the toughest job to do. It requires very hard work and teach yourself some proper marketing skills in order to get better results. If you are shy in communicating other people then sorry brothers/sisters this is not for you.
The success rate with MLM is very minute and also it takes much longer than any other method to earn money. I have seen more than 95% people fail in network marketing. If you have no marketing experience then give yourself at least 2 to 3 years then you may be in place to earn something big.
You need to be very active with your prospects because a lack of support will shift your down line attention to anything else. It is the other main reason of high failure rate.
If you want to earn money online and at the same time avoid the cons of the system then my sincere advice is to see my #1 recommendation. Its success rate is very high and you can reach your goal much earlier and less effort require from you than MLM companies.