Magnabilities Jewelry Review: Can You Really Earn From This MLM Company?
This review is all about the Magnabilities Jewelry. Do you want to know if this MLM company is legit or just a scam? Are you curious if you can really earn from this business opportunity? Well, I suggest that you read this review in order to clear your doubts about it.
Company Name: Magnabilities Jewelry
Owner: Susan Fahsel, Kari Hoke & Brent Hoke
Price to Join: $99
My Rating: 6.8 out of 10.0
What is the Magnabilities Jewelry?
Magnabilities is a multi-level marketing company that sells customizable jewelry. The customers can simply choose a piece of base jewelry and add an insert of their choice to create a unique piece of jewelry. The products are sold in various categories such as inserts, base jewelry, charms, necklaces, rings, earrings and jewelry sets. They also provide the option of adding photos to base jewelry and this is not something that I have seen before.
It was founded in the year 2008 by Susan Fahsel, Kari Hoke and Brent Hoke. So this company is almost 10 years old and they must have established a market for their products by now.
In this review, I will take a closer look at this company and try to determine whether this is a scam or not. This is based on my honest research about this company. I recommend that you read the entire review before thinking about joining this company.
How Does Magnabilities Jewelry Work?
Let us take a look at the ways of earning money through the compensation plan of this company.
You can earn 25% to 60% profit on your personal sales. There are many methods that you can use to make sales and you can immediately start right after you join.
In the beginning, you will earn 25% on the sale of most items and 40% on the sale of inserts. You can earn a higher commission rate by advancing in the ranks, but it is not going to be easy.
You can earn team overrides on up to 3 levels deep, which is a little lower than many other MLM companies. The first level in your downline only includes those people that are recruited by you. The second level includes those people that are recruited by the people on your first level.
Overrides are paid based on the sales of the people on your first, second and third levels.
In the beginning, you will only earn overrides on your first level, but you will start earning on more levels by advancing in the ranks. You can earn overrides in the range of 2% to 10% depending on your rank and the number of levels in your downline.
More Information About Magnabilities Jewelry
Before you can understand the generational bonuses, it is important to understand the meaning of a generation. A generation includes the entire team of someone in your downline that is qualified for a specified rank.
It is important that someone in your downline qualifies for the specified rank or you will not earn generational overrides. This bonus will pay you 4% on each generation that you qualify for. You can earn from up to 5 generations deep, but you need to reach the highest rank to do so.
You need to have at least 400 PV or rolling 1000 PV if you want to earn bonuses from the compensation plan.
The requirements are high and you may face difficulty in meeting them. The company doesn’t force you to buy the products if you don’t want to. However, you may still need to spend money for organizing parties and keeping some products with you for showcasing to the customers.
The compensation plan is too focused on building a team and the higher ranks are a lot more rewarding. For example, the highest rank is the only rank that allows you to earn generational bonuses on up to 5 generations deep.
How Much Does It Cost to Join?
You can join in Magnabilities Jewelry by buying the starter kit that costs for $99. The price of the starter kit seems fair and I don’t think that most people will find it hard to buy it.
The kit contains products, business supplies and first month website for free. After the first month, you will have to pay $12.95 each month for the website. I think that the cost of the website is high especially for those who aren’t good at selling online.
How Much Can I Earn?
I am not just concerned about making money, but I am also concerned about the high requirements. It is not going to be easy to meet the requirements and if you don’t meet them, then your earnings will suffer. People who have built a team need to make sure that they meet the requirements.
This is an MLM company so I don’t have huge expectations from it. Most people fail in companies like this one and this happens because of the complex multi-level marketing model.
I think that your earnings will be even less than what you can earn from a lot of other MLM companies because of the high requirements.
I am not claiming that you can’t earn a full-time income, but your chances of earning a full-time income are really low.
Are there Any Complaints?
Yes, and I have listed some of the major concerns below.
Climbing the ranks can be challenging.
Too much competition in jewelry niche.
In my opinion, Magnabilities is not a scam. They still offer some helpful information on how you can start your own business.
On the other hand, this kind of business may be a bit challenging because of the high requirements in order to climb the ranks. Plus if you don’t have the passion on the products that they are offering, then it may be a challenge. Nevertheless, I still leave the final decision in your hands. Good luck and choose wisely.
- Teaches entrepreneurial skills
- Interesting product line
- Climb the ranks to earn more
- Too much competition
I know that you want to join in Magnabilities Jewelry because you wanted to have an alternative source of income. I also feel that you are already tired of not earning that much from your current job.
But let me tell you that this type of business is not that easy. If you don’t have the passion towards selling and recruiting then you may find this type of business challenging.
On the other hand, if you are still looking for a new source of income, then you can also take a look into my personal favorite choice. My best suggestion would be through making your own online business with a support from community. Basically it is a modern way of making money. What I like about it is that it doesn’t require any selling or recruiting.
Right now, I am on my second year in this type of business and I am already enjoying the fruits of my labor. So, I want to share my success with you.
If you have more questions and concerns about the Magnabilities Jewelry, feel free to comment it below and I would be glad to interact with you.
Please let me hear your experiences and personal concerns on the comments below!