Wednesday, May 13, 2009

Amway Global - Producing Millionaires?

One thing I occasionally hear from fired up IBOs is that Amway works and that Amway has produced more millionaires than any other company or system. Now I am sure over the years, Amway has certainly produced some millionaires. Most notably, the owners of Amway who were listed as billionaires. However, Amway or IBOs wouldn't know how many millionaires were made as a result of the Amway business income, unless these millionaires were giving their financial statements to Amway. I don't believe that is happening. It is far more likely that this is another "myth" taught by some uplines as an enticement to join the business.

Amway's own numbers tell a different story. The average IBO earns $115 a month and the average diamond earns about $150,000. But this alone is insufficient to determine whether or not someone is a millionaire. Also, does the IBO have other bsuiness interests and/or a job? The income from the tools business is mostly a secret thus we cannot make any firm conclusions except to say that there is the possibility that the tools income has likely produced some millionaires. But in my opinion, the amount of millionaires produced as a direct result of being an IBO or an IBO leader is insignificant in the general population of the US.

I have linked an analysis below. Although a bit dated, I do not see anything of significance that would lead me to a different conclusion. If anything, there are fewer millionaire today because of the recent economic meltdown and the downturn of the stock market. But I would imagine that these issue may have affected Amway related millionaires as well.


"How many millionaires are there in Amway? No one really knows. When asked, many Amway distributor will tell you that Amway has produced more millionaires than any other type of business...but cannot tell you how many millionaires have been created. In my mind, that creates a credibility problem. How can they know they've created more millionaires if they don't know the actual numbers?"

No comments: