Here in this post, we are going to bring to you examples of good network marketing companies in Nigeria. We hope you find this piece invaluable.
Network marketing is a marketing tactic utilized towards the sale of specific products and or services such that the income of the business entity is gotten from the sales of its products by staff, not on the companies payroll.
The salespeople’s earnings are from a commission-based compensation plan that uses a ‘the higher you go, the cooler it becomes’ phenomenon.
Every network marketing company operates its own peculiar remuneration plan for the payout of any income to their individual members, the basic component that is found overall Network marketing companies is that the payout to members is from two potential income streams.
One is paid from the commissions of sales made by the members themselves. The other is paid out from commissions dependent on the purchases made by other members underneath the member who have recruited them into the network marketing company; which they usually refer to as downlines
Network marketing company salespersons, in particular, are encouraged to enlist other people to join the organization as individual sales representatives in order that these people can become their down line distributors.
They are also expected to offer items specifically to retail buyers by means of relationship referrals and verbal marketing as Network marketing companies do not advertise via the media.
History of the Network Marketing Business
Network marketing as a business model has been in existence for about a century now. Even though there is no documentation in support of a specific time this business model started, there are however evidence that companies such as Avon Products (formerly California Perfume Company) and Nutrilite (formerly California Vitamin Company) employed this model as early as the 1920s.
Amway, an American company found in 1959 (Amway is actually short for American Way) popularized the network marketing business in the 1960s, starting in the United States and Canada and later to other parts of the world.
Network Marketing Businesses and Ponzi Schemes
A network marketing business can also be referred to as multi-level marketing (or an MLM), direct selling, pyramid selling or referral marketing.
The term ‘network marketing’ seems to be somewhat preferred over because many people associate the term MLM with Ponzi and pyramid schemes. Even though there are fundamental similarities, they are two separate business models. I will attempt to create a juxtaposition of these two business models.
It is expedient, first of all, to highlight the things the two models have in common. Firstly, both models pay earlier investors or partners (or whatever they call those who join them) with investments or money made by later investors or partners, that is to say, both are pyramids.
Secondly, both models do not assume any responsibilities for anyone who chooses to join, they are not employees nor do they have any stakes or stocks in the business entity per se, they are referred to as individual contractors.
In other words, if people stopped joining and no new monies were made, there will be no payments. Lastly, in both business models, according to an analysis of the top network marketing and Ponzi schemes the world over, about 99% of those who join operate at a net loss, only about 1% (or less) of the total population of participants make worthy income that is at least above there opt-in fee.
With that said, however, the major differences between both business models include the following
- Network marketing or direct selling businesses are acceptable and legal business models while Ponzi schemes are generally deemed to be illegal and fraudulent. The reasons are not farfetched, the most noteworthy one is the next point;
- Network marketing businesses usually have a product or a set of products they produce and or market and sell that may range from health and well-being products to household or fitness equipment or services they render, Ponzi schemes do not sell anything whatsoever, neither do they render any services, they only circulate fund.
- Network marketing companies are usually registered and have physical offices at strategic locations, while Ponzi schemes usually do not have offices and their founders cannot be located or traced.
- You can still make some money on your own if you sell the products from a network marketing company even if you don’t get downlines, Ponzi schemes, on the other hand, cannot help you earn anything if new members do not invest.
There are a plethora of long existing network marketing businesses in Nigeria, with new ones seemingly springing up on a daily basis.
The catalogue and range of products these businesses market include health and wellness products, foodstuff, daily need products, health and entrepreneurial services and training and even mobile recharge cards and data.
Good Network Marketing Companies in Nigeria
The network marketing business is one of the most controversial as well as most understood business models ever. As a result, many people are sceptical of which companies to join to make some money on the side (side hustle). Before any network marketing company can be categorized as good, it must check the following factors:
- The company must be a member of Multilevel Marketing International Association (MLMIA) or Direct Selling Association (DSA)
- The company must have a valuable line of products and or services
- The company must have a presence and physical office in Nigeria
- The company must have been in operation in Nigeria for at least five years
Therefore, based on the above-listed criteria, good network marketing companies in Nigeria include the following:
- Forever Living Products: Forever Living was founded in 1978, came to Nigeria in 2000 with their range of healthy living and body care products. Forever Living is one of the biggest MLM brands in Nigeria today
- TREVO Nigeria: TREVO is a relatively new network marketing company, having only been founded in 2011 in the United States. They quickly spread all over the world and into Nigeria. Their unique product TREVO is a well-known entity in Nigeria.
- Oriflame: Oriflame produces and market cosmetics and beauty products. They are in the frontline of the network marketing companies in Nigeria, especially with respect to makeup and beauty products.
- Longrich Bioscience: this is a Chinese network marketing company that has been making the rounds as one of the best opportunities to join in Nigeria. They have a good range of wellness products that complement their stature and appeal.
- GNLD: GNLD is like the face of Network marketing companies in Nigeria as they have been around for a long time. Their range of wellness products are well known. The Nigerian arm of the company keeps reinventing itself with a range of complementary health care services and seminars.
- Edmark: Edmark is another well-known network marketing company that produces health and wellness products. They are especially a household name in the eastern and southern parts of the country. Other noteworthy network marketing companies include the following:
- Organo Gold
- Alliance In Motion
- Royale Business Club
- Uno Premier
- Rain International
- Avenues to wealth
- Recharge and Get Paid etc.
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