If you are coming to this page, it means either you are approached by somebody doing Amway business or you have already tried it and doing some search now to validate your learnings. Amway company has been around for more than 50 years now and there is still a question “Is it a Scam?”, “Is Amway worth it?”, “Is BWW a scam?” etc etc.
When a person goes to the BWW meetings or conferences, Life style videos of diamonds are shown and they are projected as multi millionaires but one thing which is never shown is that these successful people are just handful of millions and millions of people who have tried this business. So technically it means that chances of being financially independent and be successful in this business are even lesser than trying to be CEO of your company where are you working. There are definitely lot of things which are wrong with Amway and some of them are highlighted below –
- Big learning curve – Believe it or not there is a big learning curve and to be successful, you need to work really hard for first 3-5 years and most of people give up and quit during this time. For some people who are already into sales mindset or are good in networking might succeed in less time but for most of the people it takes time to even get into this kind of mindset. It’s definitely easier said than done.
- Not a low investment business – Claim to fame of Amway business is that you can start it with low investment and then continue to build with less ongoing investment but that’s not completely true. When you enter in the business you have to spend money going places for conferences, buy talks/CDs/tools and also purchase products every month which are also expansive.
- No returns for first couple of years – It takes good amount of time to setup a team and get sales going to be able to be profitable in first couple of years. It all depends on individual’s ability but for an average IBO it takes good amount of time and that’s the reason 95% of IBOs quit within first year itself.
- High attrition rate – It’s very difficult to keep people motivated in this Business and lot of people not pursue it for long. People join it to try it out but when they realize they need to work hard and success doesn’t come that easily, they tend to leave it. I guess this kind of business would have highest attrition rate as compared to other avenues.
- Bad reputation among people – Over years Amway has got some bad reputation and hence there is bad name if you approach anybody and present him this business plan. There is lot of misconception as well but still everybody has some story that why Amway shouldn’t be done and people tend to not even give it a try because of that.
- Expensive Products – Amway products are of good quality but still those are expensive and now a days there is so many good organic stuff present in market which is cheap and of equivalent or better quality. In last couple of years awareness has increased because of which tend to eat healthy organic stuff which has made the supply more in general market and low prices as compared to Amway.
- No competition means no benefit to buyers – In market when there are more than one suppliers of a product, benefit goes to the buyers. They have more choices and this leads to cheaper prices as well but if you are associated with Amway business you have no choice but to use Amway products at whatever cost they are available.