MLMs Not Profitable for Most People
Multilevel marketing (MLM) is a business model used by Amway, Avon, Mary Kay, and other companies where a person makes money on his/her sales as well as on the sales by others recruited by the person. According to a Savings.com study, more than one in 10 Americans have participated in an MLM activity; nearly 60% quit within 6 months. While 72% of those who tried MLM selling did so to make money, only 1 in 4 sellers did make money from their MLM activity. While many broke even from their venture, a third lost money. #IdeaoftheDayDaily tips on legal, tax, financial, and other matters to make you a smarter entrepreneur.
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