Amway Independent Business Owner Review
There is a lot of online marketing and other marketing business around that is advertising in the hopes that you will invest in their business.
Some of these are scams, and some are a complete waste of time, in this post, I will be looking at an MLM site:- AMWAY.
Amway business summary
Business Details
Headquarters
7575 Fulton St E, Ada, MI 49355-0001
BBB File Opened:
1/3/1970
Years in Business:
60
Business Started:
10/9/1959
Business Incorporated:
9/6/1949 in MI, USA
Accredited Since:
10/1/1991
Type of Entity:
Corporation
Number of Employees:
21000
Alternate Business Name
- Amway Corporation, Alticor
- Alticor, Inc.
Contact Information
- PrincipalMr. Doug De Vos, President
- Customer ContactMs. Paula Voss, Legal Specialist
- Other ContactsMr. Scott Balfour, Vice President Lega
- Mr. Steve Van Andel, Chairperson
Additional Contact Information
Phone Numbers
- (616) 787-7000Other Phone
- (616) 787-6000Other Phone
Website Addresses
WHAT IS AMWAY
Amway is one of the world’s largest direct-selling businesses. The company sells products for nutrition, beauty, personal care, and the home.
Amway is family-owned, financially stable and led by a diverse global management team that supports Amway Independent Business Owners and their goals.
Amway is built on principles, people and products that have touched millions of lives around the world ( taken from theit website)
WHO is Amway independent business owner for
Amway business is for persons who want to earn some extra money or wan to have a business for themselves that they can operate on their own time
How do you make money with Amway
According to their website, there are three ways to earn money from Amway.
Sell quality products that people use every day
- . Earn in three ways:
- Retail margin from every Amway™ product you sell.
- Bonuses calculated from your business growth. ( recruit others to join Amway)
- Incentives rewarded as you reach key milestones in your business.
- Selling Amway™ products with a retail markup and pocketing the margin.
- Earning personal sales bonuses based on your personal volume of products sold.
- Achieving Growth Incentives for building a team of others, who in turn also sell Amway™ products.
Bonuses: IBOs can earn monthly bonuses based on their personal sales volume (how many products and what types of products they sell).
Growth Incentives: As their business grows and they sponsor new team members, IBOs receive monthly bonuses based on the product sales volume of their team. IBOs earn Growth Incentives for reaching key business-building milestones, such as one-time cash awards and business trips.
You Have to Know How to sell and very few distributors Turn a Profit, running your own Amway business is a sales job.
To succeed you need to be able to sell and to promote the products to consumers and the system to new distributors.
So if you want to make money you have to requite, you also earn a commission on every sale your requites make.
Here is one review found on Glassdoor.https://www.glassdoor.com/Reviews/Amway-make-money-Reviews
I have been working at Amway
Pros
Great flexibility and any other pros that come with unemployment.
Cons
Multilevel marketing (pyramid scheme). You technically sell products but make most of your money tricking people into this hell hole company
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How much can you make
Amway.com states only 48% of their independent business are active and they make about $200.00 per month.
Growth Incentives: As your business grows and you recruit new team members, you will also receive monthly bonuses based on the product sales volume of your team.
You earn Growth Incentives for reaching key business-building milestones, such as one-time cash awards and business trips.
Amway offers a performance-based compensation plan. How much IBOs earn is largely dependent on how much time and effort they consistently put into their businesses.
Amway claims you do not have to recruit to make money, but looking at the structure of how to make money with Amway I do not see any other way to make decent money.
Their products get good reviews as being of good quality but the overall complaint is the price.
Is Amway A MLM?
Yes Amway is Direct marketing or MLM
Multilevel Marketing, or MLM, is a system for selling goods or services through a network of distributors. Multilevel marketing is also referred to as Network Marketing or Direct Sales .https://www.thebalancesmb.com/multilevel-marketing-mlm-2947187
Is Amway a Legit CO
Yes Amway is a legit company, this company is accredited by the BBB and has a 4 stars rating, it has been in operation for over 60 years
In 1979 Amway was taken to court and charged with being an illegal pyramid scheme but after 4 years the 1979 FTC ruling vs Amway. they managed to survive.
The FTC case did find that ‘Amway had made false and misleading earnings claims when recruiting new distributors’.
The FTC found that Amway differed from Pyramid scams because they did not charge a large joining fee. The case also found that Amway did not promote inventory loading, which would leave distributors with a stockpile of products that could not be returned.
Pros
To become a member costs $100 and can be refunded within 90 days if you change your mind.
Cons
- Very few people generate a profit – only 0.3% of MLM members will turn a profit. I. You might earn a commission cheque or two, but chances are your income will be less than your expenses
- You can not succeed unless you aggressively recruit new members – the only way to make money in Amway or any MLM is to have a large number of people beneath you in the system.
- You will need to approach as many people as possible and try your luck at recruiting every one of them.
Final thoughts
I have been involved with MLM’s before Avon and Herbalife, I did not like the idea of almost forcing people to join, It made me feel uncomfortable, and even though the products were good I never could sell enough to cover my expenses.
But everybody is different and maybe you would like the MLM method of earning money.
If you are like me and would prefer another way to earn money, Then you could try Affiliate marketing NEED TO KNOW MORE? CLICK HERE
Disclaimer:
This Amwayreview has been researched with information and testimonials that are available online in the public domain. The conclusions drawn are my opinions.
NOTE: This post includes affiliate links, which, if clicked on and a product purchased, I get a small commission (with no increase in cost to you)
