An overview of industry statistics for MLMs
In the past fourteen years there has been an increased interest in home based business opportunities. In fact the number of home based businesses has grown from 6 million to 32 million with hardly an end in sight, what this basically means is that everyday there are new home businesses opening up, in fact about 8,493 home based businesses open up everyday. And because of the increase in home based business this means that more people are joining MLMs and other home based business opportunities, but one thing that you need to be aware of is the industry statistics for MLMs before you actually join one.
Here is a look at some of the industry statistics for MLMs.
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- Every time the United States has a recession the MLM industry has experienced a large amount of growth. And even though our economy has been faltering in the last few years, the MLM industry is starting another growth trend and how much growth they have seen has actually increased each month.
- Over the last six to eight years the MLM industry has actually grown worldwide, which means that the MLM industry is not specific to just the United States.
- Something that you need to keep in mind is that whatever way the economy is heading the MLM industry will go the opposite way. What this means is that if the economy is moving up the MLM industry is not going to experience any kind of growth, but if the economy is moving down the MLM industry is going to experience some kind of growth.
- Of the numerous amounts of bonus checks that are sent out each year by MLM companies the largest percentage of those checks are actually written for less than five hundred dollars a piece.
- During a recession many people get involved in MLMs because of the fact that the recession serves as a wake up call that their financial situation isn't as stable as they once thought it was. So they join MLMs to keep their present financial situation stable.
- 20% of home based business entrepreneurs stated that during the year 2000 their home based business actually grossed between $100,000 and $500,000.
- 29% of the people who currently work from home with an MLM actually have reported that they are working at home with other family members.
- 84% of the people who are currently a part of or who have been a part of a MLM have actually recommended to other people that they should join an MLM and work from home.
- If you become a part of an MLM your average income for the year would be around $59,250 per year. And the thing about this is your average income from working from home can increase or decrease depending on the economy and how hard you are willing to work.
- Every year the MLM industry has been increasing and on the average the MLM industry will see an increase of around 600,000 people each year.
- While most people who decide to join an MLM actually decide to work from home on a full time basis there are still plenty of people who decide to just supplement their income, which means they take on the MLM as a part time job rather than working full time. The amount of people who are actually working from home part time is around 23 million people, while the amount of people who are working from home on a full time basis is around 14 million people. The reason for this is that more people want to supplement their income rather than replacing their current income because many people feel that MLM jobs might not be as stable as working for another company.
- Something else that we need to keep in mind is that by the end of the next decade over 46% of the people in the world will actually be working from home through a MLM, but the bad news is that the success rate for an MLM is only about 5%.
