Product Name: Amway
Price To Join: $62
Other Costs: Training and product purchases
Industry: Home, Beauty, Nutrition
What is it?
A well-known MLM company, where distributors make money by selling products and recruiting other distributors. There is a large variety of products to promote from this company, including health & wellness, cooking, cleaning, beauty, and bath products.
Amway has a reputation for being a good business in the DSA or network marketing industry because they've been around for so long. If you personally have tried the products and think they are good, then this might be a good company for you to join. However, you should know that the people making big money in the company are the ones that grow their team (downline)!
If you plan to sell products only, this will only provide some side cash for you. If you plan to recruit people into the company, you need a plan on how to recruit outside of your network of friends/family/coworkers because a business should be able to stand on its own – not reliant on your buddies to buy your stuff!
What I Like About Amway
Amway has been undergoing changes in the recent few years because of a lawsuit. This has resulted in a decreased amount of pressure for distributors to purchase products and training, as well as less hype in their sales claims. I personally find it admirable that the company is making these changes! I am very harsh in my MLM company reviews, and normally, two of my big complaints are that IBOs are required to purchase products on autoship and that the products they sell do not meet expectations.
Speaking of products, the main other thing I like about Amway is its products. The company does offer a wide range of products, and there is certainly still a demand for them. This company has been around since 1959, and although it's gone through changes over the years, I don't think it could have survived this long on hype alone.
The volume and variety of products means that you'll be able to find something for everyone, which will make selling something easier than other MLMs which may only have 3-5 core products to promote.
What I Didn’t Like About Amway
It's a Well Known MLM
Unfortunately, most people have already heard of Amway in some way or another, and have formulated an opinion on it. They probably know someone that started and failed, or were annoyed by a friend of the family that kept knocking on their door. It's unfortunate, but because there's a low cost to entry for this company, it means there's a lot of low quality IBOs and newbie marketers out there that have given the company a bad name. So this is what you're starting out with!
I'm Not A Fan of MLM
I know that a lot of people around the country like working with this business model, so many of you will disagree with me on some of these points. I named a few grievances above, but I would like to point out one more personal opinion of my own: network marketing relies too heavily on the work of others.
As a person that runs a full time online business and helps people start their own businesses, I see how ‘hard' most of the population works…ie they don't. Many people start out with a bang or with big plans, and give up shortly after.
I don't want to rely on those people to build my business! I want to rely on myself.
But the fact is that the biggest players in the network marketing industry are the ones with deep networks that they have developed over they years. They are strong leaders, have charismatic personalities, and are convincing sales people. That's just not me. Plus, I have very few close friends, and my family is small, so I don't have many ways to recruit within my personal network.
Good thing I have the internet! With the internet, I'm able to promote anything online through my website, and reach out to people that are searching for what I'm promoting. In fact, if you do decide to join Amway, I would highly recommend you build your own website to find prospects online rather than use traditional cold calling methods.
Competition From Other Companies
The world today is not like it was 20 or more years ago. People have thousands of options for purchasing products, particularly through large sites like Amazon and other online retailers. The fact is, there isn’t the same need for people to purchase products from distributors as there was before.
You might sell me a bottle of face cream today, but I guarantee that the next day I'll check for reviews online and compare prices with similar products. If there's a significant price difference, I probably won't buy from you again unless the reviews for your product are excellent or I personally think it's better.
Actually Making Sales Is Difficult!
Unless a person is already an Amway customer, your job is going to be to get them to pick up a new habit, or switch brands. That's the hardest type of “sell” for a marketer.
To make matters worse, you face competition from other sellers of Amway products, who will tend to target the same set of customers that you are. As an Amway distributor, you are responsible for finding your own customers. Amway really downplays this in my opinion. Without any marketing experience, an email list, a website, or a large group of Facebook friends that are very tolerant and receptive to this kind of stuff, you're already starting out on the wrong foot.
It’s easy to assume that you can sell products to friends and family members, but most people find that it isn’t that simple. Many friends will simply have no need for Amway’s products, or will already have brands that they are loyal to. Some will get annoyed, and you may even ruin your friendship.
Like many MLM companies, Amway provides training and meetings at extra cost to its distributors. While distributors are not forced to make these purchases, some previous Amway representatives note that they felt pressured into paying the extra money.
This approach makes it easy for a person to end up spending more on training for Amway than they actually make.
Are You Actually Your Own Boss?
When you work for the company, your income is directly dependent on them. This means that there are all sorts of things influencing your potential for profit. These include:
- The number of other distributors
- Amway’s reputation
- The price of Amway’s products
- The quality of Amway’s products
- Brand loyalty of your potential customers
I don’t know what you think, but that doesn’t sound like you get much of a chance to be your own boss. I have reviewed many MLM products over the years, and quite frequently I see that folks jump from one biz op to the other (opportunity hoppers), or even run into conflicts when they join multiple MLMs and try to cross promote products.
Personally, I do affiliate marketing which means I can promote whatever I want on my website. I even sometimes promote competing products, and make money off of both! Some people might like product A and some people product B. That's just my business model – but if you are curious about it be sure to ask a question in the comments below.
Is Amway a legitimate way to earn money from home? Yeah, some people do it. Is it a business I would personally get involved in? No way.
Amway is a pretty old MLM that most people know about. I don't think it's a very exciting opportunity compared to other network marketing companies that are out there right now. I also think that if you do not have a charismatic personality and do not plan on recruiting a large network, then this will just be a hobby, and not a true money-generating business.
How To Grow Any Business – Get It Online
Some of you read this review and will still join Amway – that's fine! You might be thinking about joining a different company, and that's OK too.
What you need to understand though is that any successful business venture needs to go beyond telling friends and family about an exciting opportunity to make money or some exciting new products coming on the market. You need to get the word out on the internet.
This is done with a website. But not just any website – a traffic generating website! Once you start creating content for your website traffic will come from Google and other search engines. You can then leverage that traffic to sell whatever you want, including cosmetic products.
Don't have any good ideas for a business yet? We can help with that too. You just gotta join up (it's free) and ask!
VERY interesting links:
Whatever type of product you decide to promote, it's important to own your own website to grow your business.
Parties only work if you have a network of friends with money in their pockets. Network marketing only works if your friends are interested in joining business opportunities.
With a website you can reach the entire world, and only promote great products to people interested in what you have to say. Plus, you open up doors to multiple streams of revenue like affiliate sales, ad click revenue, paid advertising, and even selling your own digital products.