Multi-level marketing (MLM) businesses sometimes catch a bad reputation in the media. Oftentimes it’s one bad experience that leads people to assume that all MLMs must be a scam or bad business. However, MLMs are, in fact, one of the best businesses to get into for many reasons.
As with anything, you can always believe everything you read or hear, so it’s important to do your own research and get a full understanding of whichever business you decide to get into before jumping in head first. MLMs have many benefits, especially for those wanting to get into business for themselves but aren’t necessarily ready to take the full risk of owning a private business or franchise.
Ten Reasons Why MLMs Make Great Businesses
- Low risk. Getting into an MLM is one of the lowest risk businesses you can start. With low overall overhead and a quality product to sell, you have to take minimal risk to get your business up and running.
- Existing demand. Many MLMs are well-known already and have an existing customer base that demands the product you are selling. Additionally, since the name is well-known, those who are not current customers will already have a basic knowledge of what you’re selling, therefore putting you in an advantageous position when selling.
- Passive and residual income. One of the great parts about an MLM is that as you grow your business and network, you will begin making money on sales that others make. Therefore, your actual profits will outpace your effort as you grow, which is something you don’t normally see with businesses.
- Unlimited earning potential. In an MLM structure, there is no limit to how much you can earn. The limit is only what you make it, so if you are motivated and can grow your network accordingly, you can earn as much as you desire without having to worry about hitting a ceiling like you would at a normal job.
- No employee overhead. Think about it – no hiring and firing, ever. While you will have a network of other business owners to oversee and manage as your network grows, it’s a collaborative effort, not a manager/employee relationship. This takes a great deal of stress out of owning a business.
- No inventory overhead. MLM products generally ship from a central warehouse, making it unnecessary to carry inventory as a business owner. Not having to stock inventory and pay out of pocket for products you may or may not sell is a perk that MLMs alone have.
- Low cost to entry. Since there is no inventory to stock, the cost to get into an MLM is generally very low. Most require you put some money up front for initial training and materials, but after the initial payment, you won’t have to put up any more money out of pocket.
- Existing network. One of the great benefits of an MLM is that you have an existing network of people who are willing to help mentor you and get you on the path to success. With so many people available to bounce ideas and questions off of, you’re already set up to succeed.
- Freedom to work from anywhere. Since MLMs have a presence across the US, it’s easy for you to pick up your business and go if you so desire. Whether you have to move for external reasons or just want to explore your options, you have the freedom to find clients anywhere.
- Ability to work on your own terms. Not only can you earn unlimited income and work from anywhere, but you can set your own work schedule and work with the people you choose, not the other way around. What could be more freeing than that?
Where Do I Go From Here?
If you are thinking of getting into business for yourself, but don’t know where to start, then an MLM may be just what you’ve been looking for. These reasons are only scratching the surface of what an MLM can offer you as a budding entrepreneur, so be sure to do further research and find out for yourself what an MLM can do for you. You can perform all of your essential research right here at MLM Times & Reviews. Take a look at our MLM directory and sign up for free to gain access to the members only areas. If you want alerts on new material and exclusive white papers and interviews with industry luminaries, become a premium member.