Most people have already heard of Amway. If you have not I would like for you to set aside whatever opinion you may have formed and take a new look at Amway.
I am going to do an honest review of the Amway Independent Business Owner’s opportunity and compare it to a Wealthy Affiliate membership. I believe earning an income at home or online should be simple. Please tell me what you think.
What Is Amway?
The American Way (Amway) has been going strong for more than 60 years as a Direct Marketing business but is it a Multilevel Marketing (MLM) Company?
Amway makes more than 450 products available for its Independent Business Owners. This allows for many avenues and possibilities for Amway’s Independent Business Owner’s to earn a steady flow of profits. As a result, they will never be bored or stuck in their business with so many possibilities.
Amway has built a reputation for offering high-quality products with a 100% satisfaction guarantee. This reputation is also echoed in the company’s marketing and by its Independent Business Owner.
Amway is among, if not the most successful home business marketing company that has been going strong for more than 50 years. It’s still running strong and offers opportunities in many countries around the world.
There are many forms of training to choose from within the Amway business model. Like many Multilevel Marketing (MLM) companies, there are group conference calls, upline lead training, and recommended self-help reading.
Because the Amway Independent Business Owner’s success can heavily depend on the ability of their team to recruit and train recruits there is a lot of one-on-one coaching implemented.
Amway also provides Independent Business Owner training and tools to aid in business owners’ success. Amway is a global company there are millions of free training sessions conducted every year.
Amway also offers a large assortment of Digital and Online Training tools to assist its Independent Business Owners.
Making Money With Amway
There is no secret that I am not a fan of Multilevel Marketing (MLM). Believe it or not, it has been around in the United States since the late 1800s, so it must be working for someone just not me 😉
To be honest most businesses employ some level of MLM to increase profits. Almost all manufacturers or producers of products and services seek the help of salespeople and distributors to promote their products and services.
In turn, those salespeople and distributors receive a share of the profits from any sales. This is usually what is happening when you buy online or from a Brick and Mortar store.
I prefer Affiliate Marketing as a way to earn passive income but Amway is more like an MLM so let’s take a look at the ways Independent Business Owners make money with Amway.
Amway business opportunity is a 2 to a 3-year plan and you will certainly have to work at it constantly by prospecting, going learning the product offerings and attending your group’s once-a-week conference calls.
As you will find, their compensation plan is very effective for the right people. The key is to sell products and recruit people and have them duplicate your efforts so they will get similar outcomes as you.
This is where many individuals fail since they just have no idea how you can sponsor people. There is also an elaborate Performance Bouns structure that Amway Independent Business Owner can take advantage of to increase earning.
Face it, if your team can not duplicate what you are doing to be successful, your business won’t have any lasting success.
If you really feel that you will have a problem doing this, then I would rather suggest that you find a program that will not need constant communication recruits and still enable you to build a business online. Try Wealthy Affiliate. It’s FREE to try 😉
Amway offers a wide variety of products for sale and they focus on products that are in great demand. As a result, Independent Business Owners should be able to find something for everyone.
This makes selling products easier than most other Multilevel Marketing (MLM) companies that only have a few core products offered. The Independent Business Owner’s job is to market your Amway products to customers and hopefully, they choose these products over the products they usually prefer.
As with selling and Multi-Level-Marketing Amway, Independent Business owners need to have no fear of speaking with people and have no fear of rejection. There will be a lot of rejection, cold calling, lead following, and following up.
Buy design selling physical products is a major component of running a successful Amway business. The Amway Independent Business Owner will need to handle good and bad customers and answer all of your potential customers’ many questions.
Unfortunately for the Amway Independent Business Owner family and friends become the lowest of hanging fruit and may become annoyed with the many attempts to sell them products. If the Amway Independent Business Owner is not careful they can ruin many of those relationships in the course of growing a successful business.
The potential Amway Independent Business Owners are offered the opportunity to become resellers. With this model, an Independent Business Owner needs to purchase and resell products at a profit.
What I found interesting is Amway offers a suggested price but the Independent Business Owner is free to raise or lower that price. Yeah, I sense you recognize the obvious possible risk in this business model. It can work well if the Independent Business Owner is careful and not take too many risks.
The nightmare for the Amway Independent Business Owner is offering products that do not sell or not acquiring the skills to market the products properly. We all have seen people with basements and garages filled with products that did not sell well.
The Amway Independent Business Owner will have to quickly find a balance between cash flow, demand, ordering, and selling products. This can be very difficult to achieve for the beginner.
Building A Team
Building a team can be very profitable for an Amway Independent Business Owner. The compensation plan is structured in a way that allows the Independent Business Owner to earn substantial bonuses as the total volume of sales produced by the team grows.
The Amway Independent Business Owner will have to recruit a large number of people on a regular basis to be profitable. The downside is building a team of independent Business Owners could be difficult to accomplish and difficult to manage.
The complexities of managing a large team, purchasing and selling inventory, and maintaining a profit can be overwhelming for most Amway Independent Business Owners.
It cost $60 (Registration Fee) to become an Independent Business Owner with Amway. The company says it will cost approximately $100 Annually, to begin with, Amway. They also state the fee is 100% refundable within 60-180 days.
The New Amway Independent Business Owners are provided the following:
- A virtual office
- Marketing and product materials
- Mobile business management tools
- Offline and online training materials
- Customer service
Amway offers other services that may be helpful to the New Independent Business Owner:
- $20 for voicemail
- $20 for website fees
- $125 plus for quarterly functions
- $8 for the monthly open meeting
We can not overlook the Pink Elephant in the room. The Amway Independent Business Owners will need to purchase products to sell. Obviously, that expense will vary.
The Pros Of Amway
What I feel are the positives of becoming an Amway Independent Business Owner:
- A Global Business Opportunity.
- Helpful and active business community.
- Very good online business tools.
- A large number of training tools for the Independent Business Owner and their recruits.
- Offers Business Training Conferences around the world.
- Low barrier to entry.
The Cons Of Amway
What I feel are the negatives of becoming an Amway Independent Business Owner:
- Multi-Level-Marketing can suffer from a bad reputation in many circles.
- The direct selling of products and recruiting other Independent Business Owner can be intimidating for newbies.
- Amway’s Multi-Level-Marketing business model is a little outdated considering today’s technologies.
- Products are Pricey.
- The Independent Business Owner often becomes support and customer service for the products sold.
- Encourage to start a business by selling and recruiting friends and family.
Here we go! I would now like to compare Amway Versus Wealthy Affiliate business opportunities. If you would like to learn more about Wealthy Affiliate Please Click Here to see my honest review.
I believe you can make money with Amway’s direct selling business model. But earning passive income will become difficult. As opposed to the Wealthy Affiliate SEO business model. You can earn money 24 hours a day, 7 days a week.
As an Amway Independent Business Owner, you are constantly relying on other people to buy products, sell products, and or recruit other people to earn a living as opposed to Wealthy Affiliate’s almost passive income business model.
As an Amway Amway Independent Business Owner, you are in direct competition with other Amway Independent Business Owners and even the people you recruit to your team. As opposed to Wealthy Affiliate where members can customize their business in an infinite amount of ways or an infinite amount of niches.
Amway’s Multi-Level-Marketing business model and training are old and outdated as opposed to Wealthy Affiliates Updated Training (Training added weekly) and active community.
Clearly, I believe Wealthy Affiliate is the best choice for anyone who would like to easily start their own business or just earn an income online. To learn more about The Wealthy Affiliate opportunity Please Click Here!
We all have a hobby or something that gets us excited and motivated when we think about it. It only takes one idea to create a very successful business online. Don’t have any ideas? No problem, Wealthy Affiliate will help you choose the direction of your business from over 1,000,000 different niches. [ More ]