MLM (Multilevel marketing) or network marketing has long been a source of part-time income for many, a lucrative full-time career for others, and a failed venture for most. 50% of people that start an MLM career quit in their 1st year. They may come in untrained, uncoachable, or unwilling to do what is necessary to make it. However, if you’re an industry veteran and/or are willing to be trained, coached, and breakthrough some personal barriers, you’ll appreciate this information. We are going to share with you the best MLM company to join in 2021.
Often network marketing companies are started by entrepreneurs and investors that know the potential of the MLM industry. They then go find a product that works well in network marketing such as a consumer product. They are an MLM company first. However, in this case, this company was started in 2004 as a credit restoration (familiarly called credit repair) company. For years it was operated as a direct sales company with no ability for its representatives to build a team.
In 2011 the owners switched their business model to MLM. The advantage of a company doing this is that the system of delivering the product (credit restoration and other financial services) was already in place. What they were doing was proven to work for consumers. They simply turned to this new business model as a way to ramp up business. This company remains a credit restoration company first and foremost. However, they now have in place MLM industry veterans at the corporate level and have developed marketing technology for field reps to further expand the sales team and grow the business.
The Consumer Market and Company Growth
After about 5 years of conservative growth after changing models, the company has now picked up its pace. Veteran network marketers are starting to hear about it and are moving their teams over. This is primarily due to the track record of now 17 years in the industry and the growth of the credit restoration market.
Additionally, and perhaps most importantly the consumer market for credit restoration continues to expand. The shrinking gap between household incomes and the cost of living is a major factor in the company’s steady upward trend over the last 10 years. The effect of the pandemic on consumers led to a record-smashing year in 2020. And 2021 is already ahead of that pace.
A big advantage to representatives that offer these services is the ability to get customers by referral from people in other industries. Real estate agents, mortgage professionals, auto salespeople, solar salespeople, and more find that a significant percentage of their prospects cannot qualify for financing.
A representative can develop a relationship with these professionals and have a steady stream of new customers. This relationship helps the referrer close more of their primary business, it helps the consumer be able to qualify for what they want to buy, and it helps the company reps grow their business. The ability to get referrals in this manner is virtually unheard of in the network marketing industry. It's another factor that makes this the best MLM company to join.
Even though you’ll find some of the best quality products sold by network marketing companies, they always seem to be more expensive than similar products sold in stores or online. The reason being that several levels of commissions need to be paid on top of the cost of the product to manufacturer and ship. However, this company sells a far superior product at a price that is at the lower end of the market in the credit restoration industry.
You might be curious as to how they can do that and still pay those several layers of commissions. One reason is that their product is a service. There are no manufacturing, shipping, FDA approval, and warehousing costs involved. Other credit restoration companies have the same advantages too. But this company does not have to spend millions each year on advertising because they have a sales force of representatives that do that for them.
Further, there is no inventory for field reps to buy and store. The overhead is minimal and can be non-existent after the 1st month in the business. This also makes this the best MLM company to join.
Provide the Consumer More for Less
In addition to just providing a credit repair service like other credit repair companies, this company adds other related services to their offering and still is able to sell it for less than traditional companies. While other companies provide 1 service, they provide each client with a package of 14 credit-related and financial services.
Success of Representatives
How does this translate into the success of its representatives? Just like other MLM companies, many still quit within the 1st year. Others from credit-related industries like real estate just sell the services to prospects to help them buy a home. Therefore, they don’t build a team. Some, as in other network marketing companies work on a part-time basis long term simply to supplement their income.
However, there are many that have been in the credit industry for 8, 9, or more years that have made this a full-time career. We, my wife, and I are 2 people that have done that. We started in 2012 shortly after the business model change. Since we have grown into a national business, built a sizeable team, and have reached one of the top spots in the company.
Learn More About the Best MLM Company to Join in 2023
If you want to learn more and speak with us to learn about this company watch the video below. If you like what you see there is a tab below the video to book a phone appointment with us on a day and at a time that works for your schedule. We look forward to speaking with you.
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