Should I join Amway and become an IBO (Independent Business Owner)?
If you’re looking to join Amway as an IBO (or Independent Business Owner), then this is what you should know
First of all you probably know that Amway is the oldest as well as the biggest (by far) network marketing company in the world. It is one of America’s largest private companies and does over $10 billion in annual sales.
To be honest, this is probably one of the main reasons that you are thinking of joining right? You may think that you can be very confident about Amway, you know for sure that the company will ALWAYS be financially healthy and its growth is based on solid foundations right?
On the flip side, Amway is a victim of its own success. Everyone on the planet has heard of the company and has their own opinion on it.
There are many who simply hate the company for no conceivable reason. In fact, for many, network marketing is all about Amway. There are a plenty of allegations about Amway being a “pyramid scheme” – which is nonsense, but the point is, Amway does not enjoy a great reputation with everybody
What about the Amway products?
Amway seem to sell pretty much everything. The company has one of the biggest ranges of products in niches such as nutritional supplements, personal care and home care.
Amway is so dominant that their products are the top sellers in the world in their categories. They use the best technology, are highly efficient and many of the Amway products are household names.
The problem while nobody can really dispute the quality of Amway’s products, many of them are overpriced. Not everyone can afford Amway products and as an Amway IBO, you are most likely to struggle, getting people to buy them. There are much cheaper alternatives for Amway products at Wal-Mart, for instance.
Even other direct sales companies such as Melaleuca offer much more keenly priced products so although the name may help, the cost of your stock may hold you back
What about Amway’s Business Opportunity?
There is much to appreciate about the business opportunity offered by Amway. The company invests massively in the personal development of its IBOs. The mentorship in Amway is of the highest standard and there is a huge support for its members from the Amway community.
However, while Amway does allow for excellent profit sharing, you really have to reach the level of Diamond, before you can truly benefit from it. But only 1% of Amway’s IBOs go on to reach this level.
Also, what also holds people back is the cost of joining Amway. You’re required to buy or sell many of the company’s products, amounting to $500 or so, per month – which is certainly not easy for many people.
Another major issue that IBOs face while selling Amway’s products is that they are advised by the company not to tell potential customers that they are selling Amway products.
If asked specifically about it, Amway’s IBOs are expected to lie! This creates a great resentment and mistrust against the company and its IBOs among the general public. Also, Amway hasn’t really updated its marketing plan over the years, and is yet to take full advantage of the power of the social media or the internet.
What about Amway’s Compensation Plan?
Amway has an excellent compensation plan, as long as you’re one of the top earners. Those who are new to the company will have to work for years till they start making serious money.
It is actually much easier for newbies to network marketing to make money from other companies, rather than with Amway. But if you stay the course and become a top seller, then the opportunities with Amway are enormous.
So, should you join Amway and become an IBO?
While Amway is by far the world’s biggest network marketing company, you will probably struggle to make money in Amway, at least initially. There are a plenty of younger network marketing companies you can join where you possibly will make more money, especially if you are a newbie to the industry.