Amway Review
Before I get into this Amway review, let me introduce myself. My name is Ben Biel and I have been involved in the network marketing industry for over 20 years. My summer vacations were spent at network marketing conventions as a kid and my parents have been involved with over 20 different companies. I have had a love-hate relationship with this industry which, I believe, gives me the ability to offer a balanced perspective of the companies I review. I use a simple method of evaluating the pros and cons that is not exhaustive, but I hope it will help confirm any research you have already done on Amway.
Amway Corporate Advantages and Disadvantages
advantage– Amway is the world’s oldest and largest network marketing company, generating more than $9 billion in annual sales. If you decide to build an organization with Amway, you can rest assured that the company is not going to file Chapter 11 and destroy all your hard work.
Cons– Amway’s reputation. Almost everyone has heard of Amway, and those who haven’t will undoubtedly have someone in their life to whom you’ll be happy to offer your opinion. In some respects, Amway has earned its bad reputation due to its cloak-and-dagger marketing techniques, but on the other hand, most people who have a low opinion of them think it is a “pyramid scheme” that reveals their ignorance.
Pros and cons of Amway products
advantage– Amway has a wide range of products including nutritional supplements, cleaning products and cosmetics. All of their products are well made and would certainly rank in the top 10 for each of the products they sell with many in the top 3. For example, you would be hard pressed to find a better laundry soap than SA8 and it is considered a high efficiency, concentrated, green and has been on the market for decades.
Cons– Although the products are of high quality, most of them are expensive. Even if they’re not overpriced (ie, the quality of the product justifies the higher price), it’s hard to convince people to switch from the mail-order product they used to buy at the grocery store or Wal-Mart. Mart for half the price. There is also a lot of competition. 90% of other network marketing companies have products that compete with one or more Amway product lines, often at a more attractive price.
Pros and Cons of Amway Business.
advantage– The main advantage of doing the Amway business is its commitment to personal development. The level of mentoring is extremely high and they put a lot of focus on building a community and support for their Independent Business Operators. Another perk is profit sharing, which is huge, but you have to be a Diamond before you qualify, which makes less than 1% of IBOs.
Cons– All personal development costs a fortune. Most of the people I know who started an Amway business left because they couldn’t afford personal development. The amount of product you have to personally consume or sell is also a find, over $500/mo.
Another downside is their marketing approach. People are trained not to tell people it’s Amway and are often told to lie if someone asks if it’s Amway. This tactic breeds mistrust and resentment and adds to Amway’s bad reputation. Their marketing plan hasn’t been updated in over 21 years. I found an old Amway business plan in my dad’s office from 1989 and it had the exact same plan that a friend of mine presented to me when he tried to get me to join his Amway business in early 2010. Most of it was word for word. word. . They have not changed anything to new technologies, the Internet or social networks.
Amway’s compensation plan heavily favors top earners and doesn’t offer a great platform for new people to make money quickly. Dollar for dollar, most other companies do much better. For example, my demon at Amway has an organization that makes around $120,000/month in sales and makes around $1500/month. I have friends at a different company who make $60,000/mo in sales for their entire team and they make around $3,000/mo. That’s a 400% difference.
Amway Review Conclusion
Amway is a great company that helps a lot of people. Everyone in this industry owes them a lot for paving the way for all the other great companies that followed in their footsteps. With that said, I think the time to make big money with Amway is over. There are many good networking companies with comparable products and better compensation plans that would make it easier to build a business with. Now, those of you who are passionate about Amway products or the Amway business can still do it. I know a guy who is sponsoring 10 people a week into his Amway business, but he doesn’t follow the corporate business model at all. Use purchased phone contacts and call over 300 people a day!