Company Name: Magnabilities
Do I Recommend Magnabilities?
From a product perspective, Magnabilities seems powerful. This may be why many people say that you can make money with Magnabilities. I don’t dispute that idea but I don’t recommend the company either. There are some serious limitations with their approach, including an excessively high sales requirement to stay active. Affiliate marketing makes a much better alternative and most options there don’t have any ongoing sales requirements.
What Products Does Magnabilities Sell?
Magnabilities is a jewelry company – but it is also unusual. Instead of selling regular pieces of jewelry (such as those from Sabika or Stella & Dot), Magnabilities focuses on the idea of customizable jewelry. Like other companies, there are various styles to choose from, with the specific pieces changing over time.
With some of the items, customers take a base piece of jewelry and then modify it with an insert to create something completely unique. There is a range of versions to choose from ranging from the simple to the complex.
With the simple ones, the emphasis ends up mostly being on the images you choose. On the other hand, more complex pieces have interesting visual styles.
The cool thing is that these aren’t conventional lockets, where you insert an image yourself. Instead, you can design the image using the company’s website. They use an example of a young boy to show what you can do. Options include adding text and images, along with changing the background color.
There are limitations. You can’t use anything that is under copyright unless you have written permission. So, the idea is great for family keepsakes and the like – but perhaps not for anyone who likes pop culture items.
Even with the limitations, the idea is fun. I haven’t seen many companies offer something similar and the designer from Magnabilities seems to be easy to use.
You can also choose a pattern rather than an image and you can change many aspects of that pattern too. This provides another way to make something completely unique.
The inserts are also items you buy individually. They are magnetic (hence the company’s name), so you could have one piece of jewelry and swap out the inserts over time. Most of the products are also reasonably priced, so they would appeal to a wide audience.
On a side note, there is a virtual fitting room as well. This allows customers to combine various aspects (like jewelry and inserts) to see what they look like together.
Magnabilities also has a charm component, so you can make charm pendants. There are surprisingly few pieces of jewelry for this area and no charm bracelets at all. Still, it’s another cool angle to consider.
Having multiple product types is always a good thing when you’re trying to make money. You’re able to offer customers more options and the products will appeal to a wider audience as a result.
There are also some more conventional items, such as various pendants and seasonal pieces.
These don’t offer the same ability to customize. Instead, they are simply pieces that people can buy as-is. Even with these, the styles are unusual. This aspect alone may make them appealing.
Finally, there are various related items, such as clasps, necklace extenders, satin ribbon necklaces and chain necklaces.
None of the jewelry seems particularly amazing but it is reasonably priced. Most of the pieces seem to be below $50, with many costing less.
The combination of price and uniqueness should make Magnabilities a good company to promote. The products are appealing enough to sell and people might often buy them as gifts.
As with similar companies, reviews of the jewelry itself are difficult to find. From the reviews I could source, some people seem to love the items, while others aren’t impressed with the quality.
There isn’t enough information to know how the jewelry truly stacks up. Perhaps the positive reviews come from distributors or from people who had low expectations initially. Perhaps the people with issues simply got unlucky. Plus, every company out there will have some positive and some negative reviews.
I honestly can’t say whether the jewelry is any good, that’s something you’d need to try out for yourself. You should be doing that anyway. If you’re going make money from any company, it’s important that you like the products yourself or at least understand them. If you don’t, it will be much more difficult to make sales.
Is Magnabilities A Good Business Opportunity?
From the products perspective, Magnabilities sounds like a winner. You have affordable items that are somewhat unusual and can be customized. You’re also promoting jewelry, which is incredibly popular and easy to sell.
Of course, that’s only part of the story.
To get started with Magnabilities, you need to buy a starter kit. This costs $99. The price may seem high but it is fairly common for this industry. The kit does also offer some products, along with marketing tools, so you’re getting value for the money you spend.
Members earn between 25% and 60% commission on their sales, depending on their rank and what they’re actually promoting. The beginning rate is 25% for most sales and 40% for inserts. The inserts are the most popular item, so the higher commission is appealing. But, the inserts are less than $10 each, so you’re still not earning very much per sale.
A starting rate of 25% isn’t amazing for the industry but being able to get up to 60% is powerful.
Of course, this is just the beginning. Magnabilities is an MLM and recruitment is a key component of their system. Distributors can earn up to 10% extra commission from the overrides of their team, along with up to 4% at the organizational level.
Those numbers may not seem like much but they can be significant.
The idea is to grow a decent team. For example, if you had a dozen people under you and were earning even 5% from their activity, the income would start to add up. Imagine what it looks like if those people recruited others and if everyone recruited was making sales.
This is where MLM starts to sound amazing. And honestly, yes, if you can grow a large enough team, the potential exists. But, this is true for any MLM, not just Magnabilities. For that matter, the rates that Magnabilities highlights are fairly average for the industry.
A related consideration is the rank system. Magnabilities offers 12 total ranks, split into four categories.
- Consultant Ranks: Consultant, Bronze, Silver, Gold
- Manager Ranks: Bronze, Silver, Gold
- Mentor Ranks: Bronze, Silver, Gold, Platinum, Diamond
As is always the case, the income you earn increases through the ranks, as does the requirements. The image below shows the middle ranks, along with what you can expect.
In reality, most people won’t get this far. Building and managing a team requires skills and connections – ones that many members won’t have. Instead, people tend to get stuck in the early ranks with relatively small teams.
You could still make money at those levels, just not a decent amount.
As a general rule, MLMs work well for side income but not as a full-time approach. There is simply too much work for most people and the chances of success are too low.
The Downsides Of Magnabilities
There are many parts of Magnabilities I like. It’s always good to see a company with decent products where sales seem feasible. Even so, there are a few limitations to consider.
None of these prevent you from making money but they can make the process more difficult. As a result, you need to carefully weigh up how significant these are for you.
First, there are volume requirements. You need to maintain 1,200 PV every three months to remain active. The company estimates that you can do so in one to two successful parties each week.
That’s at least four parties a month – assuming they’re all ‘successful’. This is a serious limitation and a fairly high requirement.
One reason is that parties are often ineffective. You will tend to make sales the first few times, as people are excited about the products and the novelty of the idea. But, as time goes on, you’ll normally find that sales decrease and interest wanes. This is especially true if you’re hosting parties for the same groups of people regularly.
To get around this, you need to be constantly targeting different groups of people. Could you do that in practice?
Most people don’t have a large enough social circle and don’t have the necessary promotion skills. Instead, you might end up trying to sell the products to the same audience time and time again, which gets frustrating for them and for you.
The volume requirement also rules out people joining casually. People often join MLMs for the personal discounts and the chance to make a little money off sales. This isn’t realistic with Magnabilities, as you wouldn’t make enough sales to stay active.
A second issue is training. Magnabilities suggests that there is some training available but it’s not clear how much. Most MLMs only offer basic training and certainly don’t go into the complexities that you need to know.
Additionally, most of the training you do get will come from the person that recruited you. If they’re powerful as a distributor, this training may be very helpful. But, if they’re not, you might learn relatively little.
Magnabilities does suggest that there are training events. Most companies offer something similar but the events are things that you pay for, which isn’t a great start. They often end up being more focused on hype and enthusiasm than training techniques that you can apply.
If you’re still interested in Magnabilities, I recommend talking to the person who wants to recruit you in depth. You need to know that they’ll be able to train and support you while you learn the ropes.
On paper, Magnabilities has few ongoing costs. But, there are hidden expenses that you might not expect.
For example, running a party can have financial costs. You might need to provide drinks and nibbles. Many distributors run games where they offer prizes. This helps keep people engaged but you’re the one that has to pay for any prizes.
These costs aren’t large. But, they add up. There’s also no guarantee that a given party will make money. You might invest your time and money to find that hardly anyone makes a purchase.
Distributors often find that the more individual products they have on hand, the more sales they make. Customers like holding the items and trying them on, before deciding whether to buy.
This means you need to maintain a collection of products to showcase. The starter kit from the company is a good place to begin, but you’ll want to grow that over time. This adds to your costs and can lower your profit margin.
The final problem is that this is an MLM.
As I showed earlier, this style results in a complicated compensation scheme. Most of the income potential comes from building a team and growing it. That’s a nice idea but it’s challenging to achieve in practice.
When you combine that with the issues of parties and the ongoing costs, Magnabilities starts to look much less appealing. This brings up one important question, is Magnabilities worth it?
With enough energy and effort, you might be able to make some money. But, there are many other ways to make money with jewelry too, ones that are much simpler. Take affiliate marketing as an example. You can turn to affiliate programs to promote products that are as good as what Magnabilities has to offer. Doing so offers much more power with no team building in sight.
Magnabilities does well in some areas but falls apart in others. Despite good products, there are too many limitations and the sales requirements would be excessive for many people.
Whatever type of product you decide to promote, it's VITAL that you generate leads to grow your business.
But let's face it, "parties" are boring, and no one likes the annoying Facebook friend who's always promoting a biz-op.
That's why I use this lead generation system. Learn how to generate leads outside of your circle of friends and family and discover what it means to truly own your own business, rather than just be a cheerleader for one network marketing company.
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