Market America is a multi-level marketing initiative established in 1992 by both Loren Ridinger and JR Ridinger with the latter being the CEO and President. While Market America has a presence in virtually every part of the world, its head-office is in Greensboro, North Carolina, United States.
As at 2016, its revenue was estimated to be $791.1 million and its total assets were estimated to be worth $146.1 million. As at 2016, its number of employees had risen to more than 800. The site offers products like weight management products, water purifiers, custom websites, dietary supplements, cosmetics, auto care, jewelry, personal care products, and household cleaning items.
What makes the company different is that it offers the products through several affiliated companies. It acquired shop.com, its retail store web domain from Bill Gates, the founder of Microsoft. In 2002, the company expanded its operations to Australia and it later expanded to Taiwan in 2005.
It later expanded to Hong Kong, Philippines, and the United Kingdom in September 2007, October 2010, and February 2012 respectively. Market America wasn’t done. It later extended its presence to Mexico, Singapore, and Malaysia in 2012, 2014, and 2017 respectively.
The company sells products manufactured by other firms. However, the products are sold by only Market America. The company has partners that sell its products. These partners are known as independent distributors. Independent distributors pay monthly fees to the company.
The distributors earn money by bringing in new partners and by earning commission on their sales. Right now, a new independent distributor will pay $399 as the startup fee and will also pay $129 monthly fee. Their representatives also operate as independent contractors and they spend between $130 and $300 on products. In addition, representatives need to attend seminars and training event s and these events cost between $20 and $200 each.
At some point, critics of the initiative rose up. They kicked against the idea of telling new independent distributors that they can rise to the level of becoming financially independent when the scheme cannot go on forever.
According to pundits, its rapid growth is not worth celebrating as it is normal for such schemes to get to a stage of maximum momentum after which their profit will begin to plummet and that is what Market America avoids by extending to other countries. This remains a mere speculation since the company’s profit still continues to increase tremendously.