In this article, today I am going to tell you all about Mi Lifestyle Network Marketing Company Review, by its name, all of you must have come to know that this company is an MLM or a Network Marketing company. Which greatly promotes the range of many types of lifestyle products.
Here we will also learn about Mi Lifestyle’s Income Plan and its products and at the end I will also tell you all whether you should join this Direct Selling Company Mi Lifestyle or not? For which you have to stay till the end of this article, so let’s get started,
What is Mi Lifestyle Company?
Mi Lifestyle is an MLM company directed by Mohd. Umar Arshak Johar and Vitatobha Suresh, which promotes a range of Lifestyle Products.
Mi Lifestyle was launched in India on 13 August 2013, and was registered under MCA (Ministry of Corporate Affairs) on 14 March 2013.
According to some statistics, Mi Lifestyle receives the highest number of website visitors from India (99.30%) and United Kingdom (0.70%).
It is also a member company of FDSA (Federation of Direct Selling Associations) which is a direct selling organization in India. The company claims that its aim is to deliver the best products directly to its consumer,
If we talk about Mi Lifestyle MLM business plan, then anyone can join it as a Direct Seller or Distributor and he or she has to do two major tasks which is to sell the product and connect people with this company.
Products of Mi Lifestyle Company
Mi Lifestyle Company has various categories of products like Body care, Agricultural care, Personal care, Health care, Nutrition and Home care.
Since India is the major market for Mi Lifestyle, they are delivering a wide range of products that are in demand. Apart from this, there is also a lot of price competition compared to most of the Indian MLM companies, while its quality is also good.
Income Plan of Mi Lifestyle MLM Company
According to the Mi Lifestyle MLM Income Plan, you get the different types of income mentioned below:
• Retail Profit:
Mi Lifestyle offers products to its direct sellers at Distributor Price (DP). 10 to 40% less than the MRP of the product price of the distributor, which gives good retail profit to Direct Sellers.
Under this income, a Mi Lifestyle Direct Seller can earn a profit of 10 to 40% by buying the company’s product at the distributor price and selling it at the MRP.
• Sales Profit:
Before going into this income it is important to understand one main aspect of the company which is known as BV.
BV (Business Volume) is a currency unit created by the company, which is used to calculate the income. Fixed BV points are awarded on every purchase which gets converted into real money.
At Mi Lifestyle, you get 75% BV on every product price.
For example, if you take a product from the company whose price is ₹300, then you are provided 225 BV which will be used to calculate further income.
Sales Profit 12% of the total downline matching BV is given to you as income.
• Performance Bonus:
For this income plan, you have to match 1 lakh downline BV.
On doing so, 1.5% of the company’s total BV is given as a bonus under Performance Bonus. 1.5% of the company’s total BV is divided equally among all the performance bonus recipients.
• Rank Income:
In this income plan, the company distributes some percentage of commission out of its total BV turnover to all the qualified Direct Sellers. To get this income, it is necessary to have Star Silver level or above.
• Loyalty Income:
You get this income plan by repurchasing the product in the company downline.
This income is calculated on repurchase BV reconciliation. For example if you have Repurchase of 100 BV in Phase I and Repurchase of 200 BV in Phase II, then matching of 100 BV will be considered and additional 100 BV of Phase II will be carried forward to the next month. BV from downline is called GBV and for this income, Direct Sellers also need certain Repurchase GBV from 3rd and 4th stage.
• Overriding Bonus:
To receive this income, you must be at the level of Star Silver or above in Mi Lifestyle MLM.
According to this income, if a downline reaches the same level as yours, 10% of that downline’s rank income is awarded as Overriding Bonus. This income is given only from 3rd level downline.
• Royalty Bonus:
Royalty Bonus is for Distributors of Diamond or above level.
In the table below, you can see what percentage of royalty bonuses are distributed out of the total turnover of the company.
• Nomination Facility:
Under the Nomination Facility Plan of this company, if a Distributor dies, then the business done by him or her is transferred to his nominee or any member of the family.
Should I Join Mi Lifestyle MLM Company or not?
The answer to this question depends on you. If you understand network marketing properly and like Mi Lifestyle MLM products, then you can be a part of it.
To create a downline, you will need to sell Mi Lifestyle products and add more people like you. The success rate in network marketing is just 0.4%, which is very low and it will take around 3 years to build a downline and earn regular income.
In today’s article – Mi Lifestyle MLM Company Review, I provided a lot of information about Mi Lifestyle Company to all of you and also told whether you should join this MLM company or not? Hope you got to know a lot from this article.