We are all familiar with well-known franchises such as McDonalds, Holiday Inn, Domino's Pizza and the like. However, many still don't understand how this business model compares with Network Marketing/Multi-Level Marketing (MLM). Are you ready?
Here's the key: Network Marketing brought the idea of franchising to the masses. It makes starting a business more affordable, with greater support and with the same high-reward potential seen with traditional franchising.
Here's an example:
The Mindset of a Seasoned Traditional Franchisee:
"I have McDonalds locations in NYC, Atlanta, Detroit, LA, Boston, and Dallas. Each location, including my own, is bringing in customers. I invested $1,000,000 for each location, and earn a percentage on all sales from my stores. It was worth it."
The Mindset of a Seasoned Network Marketer:
"I have business partners in NYC, Atlanta, Detroit, LA, Boston, and Dallas. Each location (partner), including me, is bringing in customers. I invested $350 for my up front investment, and earn a percentage on all sales generated in my network. It was worth it."
Both produce a wide range of viable products and services
Both provide a proven system and blueprint for owners to follow
Both require an investment to launch
Both provide training and support to owner-operators
Both are multibillion dollar industries
Both rely on customers to drive sales
Differences between Franchises and Network Marketing
Which is best for you?
A friend of mine who is also a top earner in our network marketing business used to want to be a franchisee for years. He and several members of his family spent plenty of time researching various business systems. However they ran into these common issues: the businesses that made sense were too expensive to invest in. And on the flipside, the businesses with a lower investment didn't seem to make sense. Upon learning about our business, they decided to take a closer look and today they, and so many others, became multimillionaires. Nonetheless, whichever business model you choose, be sure to do your due diligence and follow the system!
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