Magnabilities, established in 2008, is a direct sales company specializing in customizable, interchangeable magnetic jewelry. Their product line includes necklaces, bracelets, rings, earrings, and keychains, all designed to allow users to personalize their accessories with various magnetic inserts. This unique approach enables customers to tailor their jewelry to match different outfits or occasions, offering both versatility and personalization.
Product Overview
Magnabilities' jewelry features base pieces equipped with magnetic centers where interchangeable inserts can be placed. These inserts come in a wide array of designs, including seasonal themes, animals, and personalized photo options. The base jewelry is crafted from lead and nickel-free materials, ensuring durability and safety for users. Additionally, the company offers a 30-day return policy, though shipping and handling fees are non-refundable.
Business Model and Compensation
Operating under a multi-level marketing (MLM) structure, Magnabilities provides individuals the opportunity to become Independent Affiliates. Affiliates can earn commissions through personal sales and by building a team of consultants. The compensation plan includes:
- Personal Sales Commission: Affiliates earn between 25% to 60% commission on their personal sales, with higher percentages attainable through increased sales volumes.
- Team Overrides: Affiliates can earn a 10% override commission on sales made by personally sponsored team members and 4% on organizational sales, contingent upon meeting specific sales and recruitment criteria.
- Bonuses: The company offers various bonuses, including fast start and matching bonuses, to incentivize performance.
Pros of Joining Magnabilities
- Flexible Work Environment: Affiliates have the autonomy to set their own schedules and work at their own pace, making it suitable for those seeking part-time opportunities or supplementary income.
- Supportive Community: Many affiliates praise the company's supportive culture and the accessibility of management. One consultant noted, "The management is easy to reach, the employees are supported well, and the company invests in the development and growth of its consultants."
- Quality Products: The jewelry is appreciated for its affordability, versatility, and lightweight design, catering to a broad customer base.
Cons of Joining Magnabilities
- Sales Quotas: To remain active and qualify for certain commissions, affiliates are required to maintain a monthly Personal Volume (PV) of 400, which may necessitate hosting multiple successful parties or events each week.
- Time Commitment: Some affiliates have reported that the demands of meeting sales targets can encroach upon personal time, leading to challenges in maintaining a healthy work-life balance. One former consultant shared, "I loved my job but it deprived me of time to live my life happily."
- Income Variability: As with many MLM models, income is largely commission-based and can fluctuate based on sales performance and team growth, which may not provide the financial stability some individuals seek.
Conclusion
Magnabilities offers a distinctive product line and a business opportunity that appeals to those interested in customizable jewelry and direct sales. The company's supportive culture and flexible work environment are significant advantages. However, potential affiliates should carefully consider the sales requirements and time commitments involved. Success in this venture often depends on one's ability to effectively market the products and build a dedicated customer base.