Product Name: Amway
Overall Ranking: 3 out of 10
Price: $60 a year, plus 500 per month to stay
Owners: Jay Van Andel and Richard DeVos
Years in business: 50+
My opinion on MLM companies
For those of you who are visiting my site for the first time, welcome. For those who have visited my site before understand my opinion on MLM companies. Check out my article on MLM scam, don’t fall for them for a refresher.
In MLM companies, you have to buy their product and Amway product is expensive, just to break even. Just to hold your points as in your Amway business, you need to buy 500 dollars worth of product every month that you either like or don’t even care about.
Just like any MLM company, you’re told in the beginning to build a list of friends and family, all those people you know. Then after that, your goal is to get them to a meeting with you or on a 3 on one phone conversation, that way they are outnumbered and you have the upper hand. It isn’t very fair and it causes friction within your personal life.
Amway is probably those oldest MLM company out there, racking in 50+ years. It was started in 1959 by Jay Van Andel and Richard DeVos. Based in Ada, Michigan, Amway and its sister companies under Alticor reported sales of $9.5 billion in 2015. Wikipedia reference.
Amway launched a business model fueled by the power of relationships with its first product being a liquid organic cleaner. Since then, they’ve expanded into health and beauty products.
My opinion of Amway
Don’t get me wrong, they have a quality product and if you’re looking to look and feel better about your body, their product will do that. At what cost though? 89 for a month of vitamins or 365 dollars for an Artistry Supreme LX Regenerating cream?
If you want to learn how to look and feel better, research it online. The internet is full of tutorials and ways to do it for a lot cheaper. There is a way better method of generating an income and that is by doing it online through Affiliate Marketing.
If you know how to look and feel better, build a website and teach others how. You can build a business by directing people to products that are a lot cheaper and your option of what products you can recommend are as limitless as the Internet itself.
That being said, I will try to give you a list of the good and bad of this company
- Amway has been around 50+ years
- Over $10+ billion in revenue annually
- Offers some of the biggest bonus of all direct sales companies
- Health & wellness niche products
- Opportunity for average people to start home-based business
- Ability to develop residual income that grows monthly
- Very similar to a pyramid scheme
- Products are very expensive
- Deceptive tactics used by many IBO’s
- Negative perception of MLM or direct sales from most people
- Designed to favor those with people skills & charisma
- More of a “recruiting” game than anything
WHO IT IS FOR
A lot of the information out that will tell you that MLMs are designed around very Charismatic and Charming people. So to make it in these companies, you need to be a very Charismatic extroverted person. If you enjoy recruiting vs selling products, this company is for you.
If your looking for a better way and don’t want your options to be limited by one company, you should check out my review of Wealthy Affiliate.
Amway as a Plethora of training that you can buy and a lot of meeting you can pay to get into, not to forget the cost of either driving there or taking plain.
Do they have quality training, yes? Do they just give you the training you need, no? You’re going to have to pay for it. Remember that 500 dollars you’re going to need to spend on a product just to stick around, well the training also costs money.
I’m a firm believer of inexpensive training, I would even go as far as free training. You can check Wealthy Affiliate out for free, with your free account, you would get 2 free websites to start your business.
Amway is all about the relationships, so most of the support you would get is from your upline or downline.
Ok, I started this review out with the year membership of $60 plus 500 in products you’re going to have to buy to stay in business. There is also a hidden cost that you need to be aware of, the cost of learning.
The reality is, many of the “top” people or leaders in Amway make the majority of their income from selling the motivation materials and tools to their downline than anything else. This includes CD’s, books, guides, manuals, seminars, tickets to conventions, and everything else. Not to mention the cost of driving to these events.
Stay away from Amway, I’ve known people who have had to sell their houses because of the money they lost to away. Of course, someone who is in Amway will tell you that this is an isolated event, they have to tell you this. If they told you that, you’d never speak to them about Amway again.
Don’t take my word for it, do your research, anything worth doing is worth researching. Do the homework now, so you don’t have to pay for it later. You don’t have to sell your house to be able to build a business now.
Thank you so much for visiting my site, if you don’t have an affiliate website, check out my review on Wealthy Affiliates, a community that pays it forward and believes in the ones they serve.