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Multilevel Marketing: Top tips for choosing an MLM

Multilevel marketing (“MLM”) companies can offer opportunities for moms, dads and caregivers looking to start a side business. Having said this, not all MLMs are alike, and it can be hard to know which one might be good for you. Here’s a top five list of things to look out for if you’re looking to join an MLM:

 

  1. Like the product! Selling something is a lot easier when you actually like the product. People can tell if you believe in something, as opposed to just trying to shill something off. 
  2. Of all the different kinds of MLMs, party planning companies typically make the most money for their new participants. So, consider joining companies where you gather people and sell at an event, even where it is done virtually.
  3. Many MLM companies offer a business in a box. When you start up, you would automatically have a website set up, and products to sell. If you are looking for a low barrier way to start a small business, joining this kind of MLM may be a good way to start. 
  4. If something sounds too good to be true, then it probably is. Promises of luxury lifestyles for little work are big red flags. Avoid these companies. Like any other job, rewards only come with hard work. 
  5. Ask the MLM you are interested in joining for an income disclosure statement. An income disclosure statement will let you know how much you can expect to earn. Also, take a look at the enrollment fee, and any other mandatory fees. Figure out if this something you can budget for.

 

Choosing the right MLM can provide great flexibility for stay-at-home parents and caregivers looking to make some extra money on the side. If you, a partner, or a friend of yours is looking to join an MLM, consider these five tips. 

 

Michael Weinberger, Business & Privacy Law Lawyer, Siskinds

 

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