In 2018, the global perfume market size was valued at $31.4 billion. Better yet, experts expect that this industry will grow at a CAGR of 3.9% from 2019 to 2025!
There's never been a better time to get into perfume sales. And for those who don't have the capital to start their own businesses, multilevel marketing (MLM) companies seem like just the thing!
One promising company people have been looking to is FM World. But is it worth your time to become a member?
Here, we get into the details of FM World so you can find out if it's a worthwhile venture for you.
What Is FM World?
As we've discussed above, FM world is an MLM company. This means that their main way of making money is through direct sales and recruitments.
The “FM” in FM World is short for “Federico Mahora” and the company was established in 2004. Today, they have franchises all over the world. In addition to fragrances, this MLM company also sells:
- Shower gels
- Home care products
- Legal services
- Telecommunication services
As you can see, they have quite an array of products and services available to consumers.
How Can I Start With FM World?
While FM World isn't located in every single country, that doesn't necessarily mean you can't become a member and distributor.
What's great about FM World is they don't charge a registration fee, which is almost unheard of in the MLM world. If you want to become a business partner, all you have to do is register for free.
But of course, with all the best MLM companies, you'll need to pay to receive items to sell. FM World's model is the same as any other MLM company: you have to pay for a kit.
In this case, you only have one choice for the starter kit and the cost will depend on which country you're located. For example, if you're in the UK, the starter kit can cost anywhere from £12 to £60.
That's not the only associated cost with being an FM World business partner either.
As with all other MLMs, you'll have to world to keep your status as a business partner. With FM World, you need to have a minimum of 50 Personal Points every month (£100+). This is done by either purchasing products to use yourself or to sell to others.
How Do You Make Money on FM World?
The business model for MLM distributors is pretty much the same across the board. This means there are 2 basic ways to make money with FM World: either directly sell their products or recruit other people to join as distributors too.
With the first option, you'll get a commission for every product you sell. You'll get to purchase them at wholesale from FM World and then sell them at retail prices, which means you'll get to keep the difference.
With the second option, you'll have to build a downline. If you're successful, these people will build their own downline, and you'll reap the benefits there. With the Effectiveness Level Commissions program, you'll earn up to 20% of the sales each person in your downline makes.
How Much Do People Make With FM World MLM?
How much you make with FM World will depend on how successful you are with several things.
The first is how many products you sell, and for how much. In general, you can expect a profit of 30%.
The second is with your Group Points. This ranges from 300 to over 30,000.
The very bottom tier of 300 to 1,199 points gets you an Effectiveness Level of 3%. This is what your commissions are based off.
On the other hand, if you can manage to get over 30,000 Group Points in a month, you'll earn the title of Golden Magnolia and this gives you an Effectiveness Level of 21%.
If you can manage to become even more successful, you can join the elite in the Orchid Level group. Each tier has a small share of the worldwide point turnover and a one-time bonus of the right to a certain Additional Number.
Lastly, you can reach the ultimate Star tier. This gives you an even bigger share of the worldwide point turnover.
With that said, unfortunately, FM World doesn't have an income disclosure statement (IDS). This means that there is no information on how much their business partners earn.
But if we'd have to wager a guess, the majority of them don't turn a profit, based on the statistics from other MLM companies.
How Can You Make a Huge Profit With FM World?
The fact that FM World doesn't have an IDS probably means that the majority of business partners don't early very much, if anything at all.
Of course, you can try selling their products for a profit, especially if you're a charming and charismatic person. But the fact is, the big money lies within downlines. Here, you can make a killing without having to do anything besides recruiting a few people.
However, to do so, you'll need to have impeccable marketing skills. The harsh reality is that the MLM industry is oversaturated, which means the right skillset to reach beyond basic networks is crucial.
For most entry online marketers or entrepreneurs, they won't have the necessary knowledge and skills to do so. This is why so many people who become MLM members and distributors end up failing.
Affiliate Marketing Can Be a Better Choice
While FM World can be a fantastic opportunity, this is only true for a select few. And for these people, they only have that much success because they've already learned about the best marketing strategies and utilize them.
Instead of working with MLM companies, turn to affiliate marketing, which is much easier to learn and get started on. Not to mention, you'll have a higher chance of turning a profit!
In order for you to develop your skills, you should consider taking a free or paid marketing course. There are a variety of digital marketing courses you can take from businesses that can help you enhance your skills. As of writing this, over 80,000 new marketers have taken the Online Business Builder Challenge (only $7), and that might be a good starting place for you as well.