Network marketing in India is estimated to be around Rs 16 billion. Aseem Sood tells you how to make a career in this field
Network marketing is one of the oldest businesses of selling products wherein a broad network of people are involved to promote the business. It is the best industry to stay profitable and it has its presence in more than 100+ countries with considerable market size. In India, the network marketing industry seems to be promising and with the pandemic, the industry grew manifolds.
According to a study, the network marketing industry is huge enough for various marketers and can build the contributory platform to boost the network marketing business in India. Presently, India has 5.1 million people associated with the network marketing concept of which around 60 per cent of them are women. There is a growth in terms of network marketers in India, if we consider 2016-17 there were 5.1 million network marketers that rose to 5.7 million in 2018-19. These figures indicate that almost 800 people join the industry every day. In India, the network marketing concept is considered to have been kick-started in the late 1980s.
Post-liberalisation, the industry witnessed major growth with many global players entering the Indian market. Today, the network marketing in India is estimated to be around Rs 16 billion.
Network marketing as a career
Choosing the network marketing industry as a career is not challenging especially at this time. The market is growing, and people will grow substantially and make a good amount of money within five years. With the pandemic, many people are looking for an alternate career to make their ends meet. Some who lost the job are pursuing this industry as their earning source. With so many players in the market, one might need to choose the right company as per their offerings to succeed. With the growing number, companies like Proveda India have seen tremendous progress and have grown with the people associated with the company.
Network marketing industry as a career option will help a person in developing himself/herself substantially, build the skills of communication, skills of dealing with difficult questions, skills to handle difficult people, and develop skills to deal with difficult situations. It also enables personality development, it instils the discipline, the manner and most importantly it builds leadership quality. If we see overall, the industry is a business of leadership.
To select the brand you need to check:
- Profile and background of the company
- Products of the company
- Business plan of the company
In the profile and background, check the base and vision & mission of the company. India is a price conscious market, so we should look after the pricing of the products and the most important factor to check, the R&D facility and products quality.
Apart from this, you can check the people of the company and the training system also.
The prospects of network marketing in India by 2025
It is estimated that the Network Marketing turnover in India will reach a zenith of Rs 645 billion by 2025 and it will create employment to 18.1 million people by 2025. This platform has also created impacts on various social and economic factors.
- Additional source of income opportunities
- Women Empowerment
- Growth of the SME sector
- Generating employment
- Contribution to Government treasury
Some people have a wrong misconception about network marketing. They perceive it as door to door selling, giving demonstrations, and searching for new people to pursue them to join the network. But if you take an interest and gain in-depth knowledge about this network marketing industry then your life will become very easy.
India as a country hasn’t been explored concerning network marketing. Less than 1 per cent of people in India are associated with network marketing, whereas in developed countries about 30 per cent of the people are associated with this industry. The Indian Network Marketing industry is going to boom in the coming years. The big opportunities await for many who are considering this platform as their career. As per the estimation, this is the right time to join the industry.
The writer is Managing Director, Proveda India