Herbalife International (registered trademark) is a global company that is dedicated to helping people balance nutritional needs. Nutritional and weight loss products are sold directly to Herbalife members but also through independent distributors, creating a tremendous business opportunity for the entrepreneur that believes in the products and has a sincere desire to help people lead healthier lives. This is a great opportunity to sell directly to customers while also building a distributor team, earning commissions by helping others become nutritional distributors.
The term “Multi-Level Marketing” (MLM) has earned a poor reputation over the years because disreputable companies have created pyramid schemes that basically allow only the people at the top to earn money. Herbalife has been reviewed by the appropriate government agencies and has built a solid reputation since its inception in 1980.However, Herbalife business owners are sure to get questions about the company’s business model and need to be thoroughly prepared to respond appropriately.
The Herbalife corporation gives distributors a lot of support in the form of training and marketing materials. However, every startup needs a business plan. The only way the business will be successful is if the Herbalife distributor has well-defined goals, a plan for developing a regular flow of customer and distributor leads, and the ability to close sales.
Other important elements of a successful distributorship include:
• Development of monthly and yearly product sales goals
• Specific strategies for customer lead generation, including emails, product demonstration meetings, phone calls, etc.
• Specific strategies for getting referrals from customers, friends, and others
• Strategies for following-up customer leads and referrals, including personal phone calls, emails, mobile device messages, and direct mail
• System for tracking customer leads, sales, customer and distributor follow-up, and so on (so no one fall through the cracks)
• Presentation that will be delivered to customers to explain products and benefits of using products
• Plan for building distributor network, including how likely candidates will be identified
• Revenue projections that include wholesale and retail profits, bonuses, and royalties
• Demonstrated knowledge of Herbalife products, including nutrient content and health benefits
• Development of initial and ongoing distributor training plan
• Required product inventories
Having an online presence is crucial to success. It can provide information to customers, enable product ordering, and be used for internet marketing. Starting a blog or creating other social media sites that are linked to the website is a powerful marketing strategy also. Social media can be instrumental in building an online following when the business owner demonstrates expert knowledge about weight loss, nutrition, and maintaining good health.
It is important to develop a complete Herbalife business plan that defines the company mission, describes the entrepreneur’s qualifications to run a health related business, and includes financial planning. OGS Capital (https://www.ogscapital.com/) consultants can offer expert guidance in developing a quality document reflecting careful business planning.
Illustrative business plan samples
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.