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Since inception, the company has grown to be one of the largest direct selling companies in the world. According to Mary Kay statementsthe company has a global network of more 3.
We decided it was time for the Finance Guy to conduct a streetonomic review of the Mary Kay business opportunity to find out if people are really making money with Mary Kay. To learn more about the Mary Kay business opportunity, we watched this video about it:.
The video is a discussion between one of the Mary Kay corporate people and one of their top consultants. After a lengthy introduction and background info, we learn that Mary Kay taught the consultant how to dream. She then goes into her Mary Kay success story. We hear how she built her downline in her own time, while she was a single mom. It grew from there etc etc.
We learn her path to success. This is there way of telling us that even though are building your own downline, you have access to their infrastructure and can seek help from your upline.
If you join Mary Kay, the people that recruited you can help you recruit others. All we really know is that this one consultant has done very well, and she seems very excited about recruiting others to join her downline. They somehow managed to not explain anything about how the business will make us money. We thought we better keep researching. We managed to find a copy of a Mary Kay Recruiting Notebookwhich is designed to promote the Mary Kay business to prospective new recruits.
The notebook goes You Taught Me To Love Again - Mary Kaye - You Dont Know What Love Is to claim that Mary Kay ' is not a multi-level or pyramid company'. It then goes on to simplify the Mary Kay business model into two steps.
The sale Mary Kay makes to consultants. The sale the consultants make to their customers. This is precisely how any MLM company would describe their sales process. To make money with Mary Kay, you need to sell product. As a consultant you can purchase Mary Kay products at half the recommended retail price. Even with this generous incentive, to make a decent living, you'd have to sell a lot of makeup to a lot of customers.
Even if you can find enough customers to buy a large volume of Mary Kay product, you will encounter logistical challenges. As part of your role as a Mary Kay consultant, you are responsible for delivering the products to every individual customer.
Along with the time this would take, you will also incur expenses. As a Mary Kay Consultant, you will have to pay all of your business expenses.
You will spend a lot of time and money building and maintaining your Mary Kay Business. Retail sales are however not, the only way to earn money with Mary Kay. According to the recruiting brochure, sharing the opportunity can give Mary Kay Consultants ' unlimited earning potential'. If you recruit others to become Mary Kay consultants, then you can earn commission on any sales they make. For a company which claims not to be multi-level, they are doing a good job of impersonating an MLM.
If you were to look at the recruitment notebook, you'd find a list of the top Mary Kay commission earners. The top consultants at Mary Kay are earning Veni Creator Spiritus! - Mahler*, Wiener Philharmoniker, Leonard Bernstein - Symphonie No.8 • Sympho good You Taught Me To Love Again - Mary Kaye - You Dont Know What Love Is.
While it's clear that money is being made at the top, we want to know how much the average Mary Kay consultant is earning. Mary Kay has not made this information easy to find, but we were able to find a copy of the Canadian Mary Kay Earnings Representationwhich we used to create the following table:.
Based on Mary Kay Earnings Representation. The recruitment notebook claims that Mary Kay is ' an unparalleled business opportunity'yet in Canada, 19 out 20 Mary Kay consultants earned less than 28 cents per day in It would appear that most Mary Kay consultants are not earning significant commission. Like most MLMs we have reviewed, including Tupperwareand AvonMary Kay admits that the best way to make money is through the retail sales.
On the quick facts section of the website, we found a summary of the annual Mary Kay Global sales figures. Based on this, we used the Mary Kay sales results to create the table below:. Based on Mary Kay Global Sales figures.
Like all network marketing companies we have looked at, it is possible to make moneybut it is highly improbable that you will turn a profit with Mary Kay. It's a model which makes good money for the product providers including Mary Kaybut most people who are recruited will end up losing money. One of the main problems with the Htio Bih Da Si Opet Moja - Various - Proljetna Parada Hitova - Cavtat 86 selling model, is that they endorse constant recruitment.
Any salesperson will tell you that the demand for any product is finite. Adding more salespeople will not increase total sales. Constant recruitment means less sales per consultant. Mary Kay doesn't care how much the individual consultants earn, because they make their money from total sales of their products. Using the MLM model means that it costs them nothing when extra consultants join the sales force.
In fact they make money because the consultants have to buy product when they sign up. Mary Kay is just like all the other network marketing companies.
Despite what you hear in the sales pitches, it is highly unlikely that you will make money from any network marketing company. If you attend a Mary Kay promotional event, they will tell you that it's a system for everyone and that they believe that the ' more you help others, the more you help yourself'. In reality, there is no such thing as a system that continuously works for everyone.
If you keep adding new people to any income generating system, you will eventually reach the point of saturation. No matter how big a company is, there is a limit to how many sales they can make. The Mary Kay recruitment notebook claims that one of the benefits is that there are no territories, so you can sell Mary Kay anywhere you like. We see this as a disadvantage because allowing too many consultants to sell in the same area creates market cannibalisation.
This means that there are too many sales people, and not enough customers. It would be like McDonald's opening 4 outlets right next to each other, and expecting all of them to turn a profit. Despite what some members claim, network marketing is not the same as franchising. There is no shortage of salespeople, who will claim that they 'can sell anything', including 'ice to Eskimos'. Despite their vaunted skills, the truth is that to make good sales, you need a good product. The best products such as the original iPhonewill literally sell themselves.
Customers will be lining up to buy Martha - Jefferson Airplane - Jefferson Airplanes Golden Album. To make good sales, you need an in demand product with a good reputation. Before you sign up with any MLM, or accept any sales role, you should ask yourself if you believe in the products.
It is much easier to sell something if you are a customer yourself. You can try the product yourself before you join, or you can do some research and see what others had to say.
No matter what you are trying to sell, there's nothing better than a happy customer to help you find your next deal. We did not directly engage with a Mary Kay Consultant, but our web surfing has lead us to believe that Mary Kay sells products by The School Of The Fool - Judy Rogers - Go To The Ant ' skincare classes'or offering facials. The classes involve finding a host, and asking her to invite some friends to her house.
They will then see a demonstration of Mary Kay products before they are given the opportunity to buy them. From our distant perspective, Mary Kay classes are like Tupperware parties. Based on our research, we believe that you can't make money with Tupperware.
Our opinion did not improve when we read this Mary Kay customer experience. We found what appears to be a guide for prospecting potential Mary Kay recruits.
This includes a list of opening questions, closing questions and two full pages about overcoming a list of 20 objections! In our opinion, we believe that Mary Kay uses cheap sales tactics to promote their opportunity. The opening questions could be a cut 'n' paste from any MLM, including the emphasis to ' Dream past the ordinary!
The concept of dream buildingis central to network marketing. Dreams are idealistic, dreams are Utopian. Thinking about our dreams makes us feel warm and fuzzy, but thinking about dreams does You Taught Me To Love Again - Mary Kaye - You Dont Know What Love Is make them achievable! The closing questions purported in the Mary Kay notebook, are unsurprisingly positive.
They are about why you should join today, and what impressed you most. Last time I saw such an aggressive sales push, I was looking at a second hand car! Having said that, I did buy the car, but I bought because I liked the product, not because of the cheap sales push. For starters, item 2.
Depending on your workplace, recruiting office friends to Mary Kay could get you fired! Mary Kay targets people who are financially desperate.
Including the claims that ' you don't need to be a salesperson, you don't have to sell to your friends and family, you don't need to know lots of people, etc You Taught Me To Love Again - Mary Kaye - You Dont Know What Love Is. The common MLM theme is that the sponsor can teach you to copy what they have done. Unfortunately copying your sponsor may not be the path to untold riches. Our research has found that you can't make money with direct sales. It is more likely than not that your MLM きらきらら - CHIBASTATION - The Chibastation is losing money, if you copy them, you will also lose money!
Over the last 20 years or thereaboutThe Finance Guy has been unsuccessfullyrecruited to more than 13 direct sales teams.
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