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Mary Kay Inc |
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"Does Mary Kay Inc Still Provides a Sustainable Income Opportunity?" |
Mary Kay Inc: Short Introduction
Mary Kay Ash started the company when she was overlooked for a promotion in favor of a man. Frustrated at having lost her rightful opportunity, she decided to write a book to inspire women to succeed at work place. The book turned out to be a business plan that inspired Mary to start her own company. Thus Mary Kay Inc was born in September 1963. From a mere $5,000 start up, Mary Kay Inc has grown to be a $2 Billion company by 2007.
Mary Kay Inc: Business Model
Based on the turnover rate, consultants can earn money through retail sales and recruitment. As per the publicly available information, Mary Kay Inc's US consultants have earned a median gross income of $75,443 in 2006. The turnover is also calculated at an impressive 68.6%. Even though the company was publicly held from 1968 to 1985, it was bought back through a leverage buy out by the founders. The most attractive widely published bonus is probably the Pink Cadillac. The company rewards its top performers with a Pink Cadillac. Based on the performance, the best of the lot also qualify for retirement benefits.
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Mary Kay Inc's success comes with its own controversies. The company had been criticized constantly for being a product based pyramid scheme. The company is accused of pressurizing the consultants to purchase more than they can sell and make the sales within a short period of time.
Conclusion
Mary Kay Inc has been a successful company so far. It has grown steadily and added to its network of affiliates. But the company has failed to some extent is keeping a clean image. Most of the controversies it has gone through are regarding its treatment of distributors than the quality of products. This is a strong deterrent for individuals evaluating the alternatives. If they are determined to stay in the business, they should make sure that they make up for the past acts and focus on building a cleaner image.
Network Marketing has definitely revolutionized the way people look at income generation opportunities. It takes the same pain of setting up a business. But unlike a traditional business, MLM based businesses yield a comfortable return at considerably reduced effort as time goes. Anybody with good people skills can try their hand at Network Marketing. And for those who are not so confident about their networking skills, there are plenty of internet based MLM opportunities.
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