In today’s post, we are going to talk about Mi Lifestyle Global Private Limited. Which is one of the top Network Marketing companies in India.
Mi Lifestyle business is spreading at a good pace in India and many people are also associated with it as a direct seller. Many questions keep coming about Mi Lifestyle Global Marketing, in which what is Mi Lifestyle? What is Mi Lifestyle MLM Business Plan? (Mi Lifestyle Business Plan) and how are Mi Lifestyle Products? This question is the main one.
That’s why today’s article is there, in which we will answer these questions and know, what is Mi Lifestyle Marketing Global Private Limited Business Plan? And how to earn money by joining Mi Lifestyle as a direct seller?
What is Mi Lifestyle Marketing Global Pvt Ltd?
Mi Lifestyle is a product-based Direct Selling MLM Company, which was started in August 2013. The same Mi Lifestyle is registered under MCA from Chennai, Tamil Nadu.
This company is not that old. And Mi Lifestyle is a member company of FDSA (Federation of Direct Selling Association).
Mi Lifestyle Company Profile
|name||Lifestyle Marketing Global Private Limited|
|Directors||Manmohan Singh, Kishore Kumar, Kolla Sathya Narayana, Hakeem Abdul Rahim|
|Register Date14||Date14 March 2013|
|Head OfficeChennai||Chennai, Tamilnadu|
|Product CategoriesPersonal||Personal Care, Home Care, Agro Care|
|Minimum Product Purchase||Product Purchase5000 – 7500 Rs|
Mi Lifestyle Business Plan
Talking about the business plan of Mi Lifestyle, first of all, you have to join Mi Lifestyle as a direct seller (distributor).
After that, you have to buy products from the company and sell them further.
Along with this, you have to create your network, that is, add new people from the company to your downline. Then the downline has to be encouraged to buy the product and build a network of new people.
The more products your network will buy from the company, the more profit you will get. Now, this profit will be what percent of the total purchase? We will understand this in My Lifestyle Income Plan.
But let us tell you that the success rate of MLM is only 0.4%. Therefore, you cannot consider it as a scheme to get rich quickly. It takes an average of 3 years to build your network.
Mi Lifestyle Income Plan
9 types of income are provided to you by Mi Lifestyle company, which are as follows:
- Retail Profit
- Sales Profit
- Performance Bonus
- Rank Income
- Loyalty Bonus
- Overriding Bonus
- Royalty Bonus
- Awards and Rewards
- Nomination Facility
So, let us understand the above-given income in detail. But keep in mind, initially, you will not get all the income, there are different conditions for different income, which need to be fulfilled.
1. Retail Profit
The name of the first type of income given by Mi Lifestyle company is Retail Profit.
Mi Lifestyle gives the product to its direct seller at Distributor Price (DP). This is 10 to 40% less than the MRP of the DP product, which gives a good retail profit to the direct seller.
Under this income, a Mi Lifestyle direct seller can earn 10 to 40% profit by buying the company’s product on DP and selling it at an MRP rate.
2. Sales Profit
Sales Profit is the name of the second type of income given by this company.
But before understanding this income, you need to understand one main aspect of the company, which is known as BV.
The full form of BV is Business Volume. It is a currency unit created by the company, from which the amount earned can be converted into its national currency i.e. Rupee.
In this company, you are provided with 75% BV on every product. For example, if you take a product from the company, whose DP (Distributor Price) is ₹ 300, then 225 BV is provided to you by the company. Which will be further used to calculate the fractional income.
Under this income, 12% is provided by the company on BV matching in the downline.
For example, suppose there is a distributor of a company named Suresh, whose two legs have Shyam and Ram downline respectively. Shyam buys 10,000 BV and Ram 15,000 BV this month.
So here there will be a matching of 10,000 BV and 12% of it i.e. 1200 rupees will be given as sales profit.
Out of 15,000 BV of Ram, 10,000 BV will get matching income this month, but the remaining 5,000 BV will be used next month.
3. Performance Bonus
The third type of income that Mi Lifestyle company provides is a Performance Bonus.
To get this income, you must match 1 lakh BV in the company.
On doing this, 1.5% of the company’s total purchases are given as a bonus by the company under Performance Bonus, that is, 1.5% of the company’s total purchases are divided equally among all the Performance Bonus Achievers.
4. Rank Income
The name of the fourth type of income given by Mi Lifestyle Company is Rank Income.
In this income, the company distributes a percentage of its commission to all eligible direct sellers out of its total turnover.
To get this income, it is mandatory to be at the Star Silver level or above. Following are the levels and the conditions for achieving them, along with the percentage at which level the company distributes the commission from its turnover, is also given.
5. Loyalty Income
A loyalty Bonus is the name of the fifth type of income given by the company.
To get this income, it is necessary to have three legs in the downline.
According to this income, the company provides income on Repurchase Matching done in the downline. That is, if you have repurchase (repurchase) of 100 BV in the first leg and repurchase of 200 BV in the second leg, then here 100 BV will be considered as matching.
From the chart below, you can see how much of the reward is awarded in the case of matching buybacks.
For example, suppose a company has a distributor named A, which is at the DTC level. As can be seen above, to get this income it is necessary to have 3 legs, so A’s direct downline has P, Q, and R.
Here P and Q will be placed in Organization 1 and R will be placed in Organization 2, which can also be called groups. This would require 20,000 BV group buyback matching at the DTC level and 4,000 BV repurchase matching from the third leg ie R. Then there will be this income of Rs.5,000.
Before the Emerald level, the third leg requires repurchase matching, but after that, both the third and fourth legs must have repurchase matching.
6. Overriding Bonus
Mi lifestyle company provides you an income called Overriding Bonus as the sixth type of income.
To get this income, you must be at the Star Silver level or above in the company.
According to this income, if a downline reaches its level, then a 10% Overriding Bonus of its rank income is provided by the company.
Keep in mind that this income is given only up to level 3 (Depth) downline.
7. Royalty Bonus
Royalty Bonus is the name of the seventh type of income given by the company.
To get this income, it is necessary to reach the Diamond level.
In the table below, we can see what percentage of royalty bonus is distributed to the people of which level in the total turnover of the company.
level royalty bonus percentage bonus percentageDiamond0.40%Royal Diamond0.20%Crown Diamond0.20%Crown Ambassador0.20%
8. Awards And Rewards
Mi Lifestyle company provides you with the eighth type of income, its name is Awards And Rewards Income.
To get this income, certain conditions have to be fulfilled at each level.
From the chart given below, you can see, in how much time, which conditions have to be fulfilled to get the rewards and rewards at different levels.
As can be seen in the chart above, if a star is at the Silver level, then to get this award and reward, a total of 2.5 lakh GBV (Group Business Volume) in his 3 legs should be purchased in any 10 weeks. And on fulfilling this condition, a laptop of 25,000 is provided by the company in the form of an award and reward.
Similarly, you can understand the terms of further awards and rewards with the help of the above chart and know the income earned on them.
9. Nomination Facility
Nomination Facility is the ninth type of income.
Under this Nomination Facility, if any incident happens with any distributor of the company, then the business done by him is done to any of his nominees or family members.
This process happens in every company, which is not proper to view as an income.
Mi Lifestyle Products
You have seen My Lifestyle Income Plan. But income plan is of no use to any MLM company, unless the product is economical.
Talking about the product list of Mi Lifestyle, its product list includes health care, personal care, agro care (products for agriculture), and grocery products.
If you look at the price, then the price of its product is slightly higher than normal. But, the price of the product is less as compared to MLM companies like Amway and Herbal Life. We can compare its product with other Indian MLM companies Vestige, RCM, and Medicare.
You can see the product list of Mi Lifestyle by clicking on the link given below. In which you will get information about the names of all the products and their prices.
You can also get a refund by returning the product of Mi Lifestyle within 30 days under the Direct Selling Guidelines. Also read information Top 10 business ideas for women at home in 2022
How much does it cost to join Mi Lifestyle?
Due to the Direct Selling Guidelines, now there is no fee to join any MLM company including Mi Lifestyle. But now there is a need to buy a product, from Mi Lifestyle you have to buy products starting from Rs 5000 to 7500.
How to join Mi Lifestyle?
To join Mi Lifestyle as a direct seller, you must first go to the official site of Mi Lifestyle and fill in the “ Sign Up Form ”. To fill this form, you will need the ID and name of a sponsor, and your complete information, from a bank account to nominee, will also have to be given. Here you must have a PAN card and your age must be 18.
What are the requirements to join Mi Lifestyle?
To join Mi Lifestyle, you need to have an Aadhar card. If you are under the age of 18, you can provide parental information. Apart from this, PAN-card and bank account information will have to be given to Mi Lifestyle.
Do people have to be added to Mi Lifestyle?
Yes, in Mi Lifestyle you have to add people. But this is not necessary, in this, you can earn only a retail profit, only by further selling Mi Lifestyle products at MRP. But if you want a good income from MLM, then it is necessary to add people.
Is Mi Lifestyle company a fraud?
No, Mi Lifestyle is a Legal Direct Selling company, which is a product-based and fully legal company. You can’t call it fraud.
How much money can I earn from Mi Lifestyle?
How much money you can earn from Mi Lifestyle, completely depends on you, how big and active your team is. Otherwise, it usually takes 3 to 4 years of continuous hard work to be successful in an MLM company, only after that there is a possibility of a good income. Otherwise, most of the people fail in it.