Amway: The Game Changer

Admin   |   24 August, 2020   |   1338   |   3980

AMWAY is the abbreviation for the term 'American Way.'
Amway started its business in 1959 by selling home-care, health and beauty products. Jay Van Andel and Richard DeVos were the founder members who set up the first office in Ada, Michigan, USA.
It is a multi-level company providing daily means of livelihood and support to its around 16,000 employees all around the globe.
Amway is different from other MLM companies as its distributors, generally referred to as Independent Business Owners (IBO) can directly order from Amway on the internet and they can have their products shipped directly to their homes, rather than taking part in the pyramid schemes that many other companies follow. 
Amway sells its products through MLM strategy and also combines it with direct selling. Amway's IBOs market its products directly to potential customers. They can also sponsor and mentor other people to become IBOs.
A study conducted by Harvard Business School described Amway as one of the most profitable direct selling companies. Amway had a revenue of 8.8 billion dollars in 2018. 
IBOs earn income both by the sales they make personally and also through the performance bonus they receive based on their sales volume and also the sales volume which their sponsored IBOs have generated.
This simple tactic made Amway one of the most successful MLM companies and many major companies followed suit. 
Amway set up business in India in the year 1995 and commenced commercial operations in May 1998. Amway India offers Indian citizens an opportunity to own and operate their own business by selling more than 125 quality consumer products. 
Amway set up its first manufacturing centre in India at Nilakottai, Tamil Nadu. Along with China, India is one of the two key global manufacturing hubs for Amway.
In the next edition you will get to read about the success journey of Amway, India.