Multi-level marketing which is popularly known as network marketing is an ultimate marketing strategy for selling products, goods and services introduced by any mlm company.
What is mlm?
It is a direct selling method which uses a network of people to sell a product.The overall revenue of any MLM company depends on the non-salaried individual working in the network for the sake of knowledge, communication skills and types of commission income provided by the company on each sale performed.
Steps before starting a legal mlm company in India.
- Register your legal entity.
- Finalise business model.
- Business plan design.
- Finalise product or service.
- Quality software for mlm company.
- Steps before starting a legal mlm company in India ( Video explanation )
- MLM Software demo.
1. Register your legal entity.
Q – Is it important to register your company / organisation ?
Most important subject while discussing multi-level marketing or any associate joining a mlm company is :
Is the company legal ?
Is is a genuine company ?
Prior to everything, comes the company registration.
No, it is not necessary to make it private limited.
Any legal registration is okay to start your mlm company
It can be any of the following :
1. Udyog aadhar.
2. PPL ( Phonographic Performance Limited ) licence.
3. Private limited.
According to government of India, there is no specific registration or licence introduced yet for any mlm direct selling company.
Whereas while doing a legal registration you have to mention,
i) It’s a trading business, which can be from manufacture to consumer or you yourself is a manufacture who is going to perform sales on the basis of commission.
ii) Mention the sectors you are going to work in,
Example : Holiday sector, manufacturing sector, cosmetics sector..etc
Q – Do i have to become FDSA member if i have to start my mlm company?
It is not mandatory to have a FDSA membership.
Having a legal registration for your company is more then enough.
2. Finalise business model.
Multi-level marketing gives you more than 10 plans to choose from for your organisation.
i) Binary plan
ii) Matrix plan
iii) Uni level plan
v) Generation plan
vi) Binary + Repurchase plan
vii) Single leg plan
ix) Helping plan
x) Stair step plan
xi) Australian binary
xii) Hybrid plan and many more..
Click here to see types of mlm plans.
Among all these plan you have to decide which plan is best for your company.
It is the first decision which plays a major role in the company’s future.
Mlm plans trending in 2020.
Hybrid plans are trending in 2020 mlm industry.
i) Single leg + binary + autopole income.
ii) Binary + generation income.
iii) Board plan + autopole + single leg/matrix income.
3. Business plan design.
Things to keep in mind while designing business plan.
i) GST registration.
ii) Product cost.
Finalising the product cost and package amount keeping in mind distribution and company’s profit.
iii) Company distribution.
To choose from the types of income valid in the scenario to prepare a great company’s plan.
iv) Company profitability.
While finalising the products cost, package amount and distribution, company’s profitability defines the company’s future.
v) Admin charge.
4. Finalise product or service.
Now as we have the data for the package amount and the product cost margin we are left with, we are going to further towards finalising the product or service.
Two things to focus :
i) Product cost
Before finalising your product, always keep in mind that it should be worth. Finalising 2000/- Rs package should be worth value of 4000/- Rs to attract an associate.
On the same point it should be left with 400-500 rs margin for distribution and services.
5. Quality software for mlm company.
One of the most important thing in your mlm company is your company’s software.
It is the heart of your mlm company.
Things to focus :
i) Server structures
ii) Server backup facility
iii) database structures
iv) Front-end facilities working condition.
What’s unique in YAKS.
i) YAKS designed software uses cloud-based servers which works in an elastic manner. This eliminates the possibility for server lag or server down issues.
ii) It can very easily handle data of more than 1L associate.
iii) Freshly coded software gives the prime benefit which completely wipes out any possible damage to software for decades.
6. Steps before starting a legal mlm company in India ( Video explanation )
I’m sure you have understood all the details of Steps before starting a legal mlm company in India, from this blog but i’d refer you to listen the whole video to find out and become fully aware of all the necessities.
After all no knowledge is better than half knowledge.
Just “Click here” so you don’t miss out any important point and watch the complete video.
7. MLM Software demo.
One thing Everyone should be focused on before starting a venture is to make the best possible software for his firm.
YAKS Group has been nominated for fastest growing startup and is going to be awarded very soon for its MLM quality software, 24*7 Support team, customers highly rated services.
Click here to check the demo by yourself now.