Amway, or the American Way,as people prefer to call it is one of the most popular network marketing companies. It’s one of the best known MLM companies with branches in over 80 countries with over 450 products and revenue of over billion. More than three million people share the Amway vision as distributors or IBOs. It’s this income opportunity that we’re going to check out in this article and determine how profitable it actually is.
· The Amway Story
1950s’: Jay Van Andel and Rich De Vos launched Amway in 1959 in Ada, Michigan following their stint with marketing nutrilite products. They were impressed with the response they got from network marketing and started the business with a Multi-Purpose Cleaner, Amway’s first product (L.O.C).
The success grew over the next two decades when Amway went on to distribute more than 200 products and extended its reach to other countries.
From then on, the success of Amway continued to make the business a multibillion-dollar global association.
· Amway Products
Amway has different products catering to home needs, skin and oral care, hair and body care, nutrition and weight management. Amway’s best selling product is the Nutrilite range of health supplements. Products of Amway are said to be manufactured with pure ingredients and this company has been promoting “green” products right from its first product launch.
· The Amway Business Opportunity
With a working record of fifty year and strength over 3 million reps Amway may seem a sturdy venture to take up. But let’s first look at the income opportunity and see how profitable the business actually is and what kind of potential it has as a money maker.
- Compensation Plan
Generate income through mark ups on sale of products, get bonuses on monthly targets and earn perks and cash awards for group performance.
- The Amway Advantage
Amway promotes good quality products that have a good image among customers. The compensation plan is good and the company is well established with a good history and global reach. Since most products of Amway are consumer durables, they’re easy to promote.
Here’s the working procedure of a characteristic Amway rep- he or she gets sponsored by a friend, get trained about products and on selling skills, learns to accumulate his or her contacts and sell to them. Then they gather contacts or leads from such customers and contact them with requests for a meeting.
This technique could have worked wonders a few years back; but now everyone’s weary of such marketing methods. There are common jokes when grown adults get together that it might be some type of Amway meeting. There are other practical problems such as getting people to meet you in the midst of their busy schedules. With 3 million people in the field, it’s a highly competitive business. It’s just not enough to sell a few products to people you know if you want to reach the top and get real earnings.
- Solution
Internet is not just a trend; it has become a way of life. Launch your business on the net for best results. Learn how to tap Amway leads through the internet, obtain contacts and promote your products online. Offer a click to buy solution to enable potential customers to buy Amway products from you with minimum effort. Your first step should be to learn best online marketing techniques that are guaranteed to get results yet not so popular that they are hackneyed.