The short answer…YES!! There have been many, many people who have become millionaires working an MLM business.
If you aren’t sure what MLM is, read my earlier post here.
The longer answer for those of you who don’t want to just take my word for it
An MLM business and a traditional “brick & mortar” business are very similar and very different. They are both “real” businesses. However, one is easier to start and can be worked from wherever you are and the other is harder to start and has to be worked from a physical location. Obviously MLM is the one where you do not have to be in a physical location to work it. I know a woman who was homeless and started an MLM business. She is now a multi millionaire.
Let’s look at this one at a time.
First – Traditional (brick & mortar) business:
- According to the Small Business Administration, the average cost of starting a new business from scratch is just over $30,000.
- You (business owner) are basically on your own figuring out your business model unless you start a franchise. (The average cost of starting a franchise is around $100,000)
- You need to lease or buy an actual building
- You will most likely need to hire employees
- The average owner of a traditional business works at least 60 hours per week
- Experts estimate that 50 to 80 percent of all new traditional businesses do not make a profit for the first 5 years.
- A traditional business takes money, time and effort to build
Next – MLM business:
- The average MLM business start up costs are $500 or less
- You are in business for yourself, but not BY yourself. There is a whole team of people to help you.
- You work your business from wherever you live
- You do not need to hire employees. You will need to look for business partners.
- The average MLM business owner works 20 or less hours per week.
- You can begin making a profit within a month or two with MLM
- An MLM business takes money, time and effort to build. If you have more time than money, then you can spend that time instead of spending more money.
In conclusion…YES…YES…YES…MLM is a real business.