In a county ravished with corruption, unemployment and poverty, multi level marketing is not a new thing. While it’s a 50-50 franchise, learn how the youths in Nigeria are using this method to survive. Edited by Ebuka Raphel, we teamed up to explain this phenomena.
Network marketing, also known as Multi-Level Marketing (MLM), is a business model where independent contractors buy into a company and earn a commission on the products they sell. The profession appeals to many people because they can be their own boss, set their own hours, and work towards their own success. In Nigeria, the youths are leading this drive. I decided to collaborate with Ebuka Raphael to tell this story.
You get approached by a man or a woman or friend or family member. You get handed a form to fill and the form basically asks you what business you need funding with, then the invitee tells you that you will be called and if selected be invited to know how the funding will pull through.
You arrive expecting investors. But it’s false. Your friend, family member or co-worker wants to get you to join a direct sales company that uses the practice of Multi Level Marketing (MLM or Network Marketing) or a company that wants you to invest money in Forex but still encourages multi level marketing.
Does this sound familiar?
Though many are skeptical of claims that the multilevel-marketing business odel can make people piles of money. I used to feel the same until an opinion changed my perspective. True, it can (only to a few), but it has also provided may people with a basic steady flow of income per month.
I’ll relate Ebuka Raphel’s experience:
“Speaking to someone trying to invite me, in a bid to convince me, he showed me his back end earnings. This man is your regular Nigerian guy, mid 30’s, has a family and a side business. So he told me network marketing provided him with his business funding and still provides monthly income. I decided to attend and also dug into this industry to understand what opportunities it provides the Nigerian youth.
From my discovery, this marketing strategy provides three (3) benefits and they include:
- Sales Job Opportunity: When a person is registered they are made a marketer or sales representative of the organisation, given a back end online office to manage their recruits and keep track of their earnings.
- Business Opportunity: Well most Networking companies have products to sell (some are health and wellness, while some are equipment or services), this article will focus on the product or equipment based network marketing. On registration you get products worth your registration money, which you can then sell and make money (usually the case) or you can consume. So, it provides a business in selling products which is another means of earning.
- Passive Income: In the industry, there’s an opportunity to earn money via your recruits, which is where my invitee made most of his money from; this is the best thing really about network marketing.
Then there’s the ‘Bonus’ opportunity, that provides them with the chances to meet, network and interact with different people.
What’s the Future?
In stark reality, many youths have turned to the network marketing industry to fend for themselves, and Ebuka Raphel spoke to a few and they have told him that it’s been their best decision they ever made.
Note: This article is not financial advice or an endorsement of the industry or of any network marketing company/company that engages in network marketing operations. The author or any associates have not been paid to write this piece. This article is as a result of personal study and hence personal opinion.