Utah in the USA and its capital Salt Lake City is famous for its world-class ski resorts, nature and the Church of Jesus Christ of Latter-day Saints (LDS Church).
Beyond that, however, Utah has a lesser-known claim to fame: It is the unofficial world capital of multi-level marketing and direct sales companies.
There are at least 100 Network Marketing companies in Utah alone, generating est $8.5 + Billion in annual revenue and making direct sales the second-biggest industry in Utah behind tourism, according to Loren Israelsen, executive director of the Utah-based United Natural Products Alliance.
Under corporate executives there is a strong “Old Boys network culture” many executives have worked with each other in different companies, helping each other to success.
Top earners such as Ken and Carol Porter with life time earnings of $28 million, Steve and Melyn Campbell $26 Million, Nathan Ricks $50 million and Mark Comer $17 Million are Utah based residents.
Per capita, Utah has more MLMs than any other state.“It must have something to do with the way LDS culture works in the valley,” said Ann Dalton, CEO of the beauty product direct-seller Perfectly Posh, from her Salt Lake City office.
Connections fostered in LDS communities, said Dalton, create a hotbed
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Starbit Achieves $2.8 Million In Customer Sales
by Ted Nuyten • • 0 Comments
It’s just the first step, but Starbit hits its first goal.
With a revolutionary product, this new company hit a prestigious result, turnover more than BTC 1.000 that values around 2,8 Million USD in a very short period of time.
Starbit continues its growth and expansion. Significant blockchain investments in the expansion of its services and further development of digital offerings:
At a recent web conference the holding announced its first 1.000 bitcoin turnover with a long-term vision and outstanding plans for the coming years.
In the first months of its history, Starbit is positioning as the one and only business project with the clear mission to touch and impact normal people’s life with blockchain awareness.
Brutus, the super alt-coin robot just launched is already giving great results to normal people willing to learn how to benefit from this incredible opportunity in crypto currencies growing the market.
Brutus works with special algorithms including one smart arbitrage that allows users to learn and do trades instantly on more exchanges with several coins with just one click and grant in some window’s time one 100% win/win position. Brutus was thoughts error’s proof as destined to massive users.
The holding generated an increase in business volume in many new countries with
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Herbalife 90% Of USA Sales Are Consumer Based
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Herbalife today announced that due to the dedication and diligence of its distributors, in May, 90 percent of United States sales were documented purchases by consumers, comprised of more than three million receipted retail transactions.
These results far exceed the 80 percent threshold called for in the Company’s agreement with the U.S. Federal Trade Commission.
The Company also announced that approximately 400,000 customers have converted or signed up as preferred members in the U.S. since the program began in October 2016.
“These figures should put an end to any questions regarding demand for our nutrition products and the strength of our go-to-market business model,”
said Richard P. Goudis, CEO, Herbalife Nutrition.
In the past ten months, Herbalife Nutrition created industry-leading technology and tools in partnership with its distributors to help them efficiently document retail sales.
The flexibility of the tools, built on a robust scalable infrastructure, has allowed the Company to track retail sales of products to end-users thereby allowing the Company to collect new marketing data, such as pricing, buying preferences and consumer purchase trends.
This critical information, most of which is new to the Company, will help create significant competitive advantages as Herbalife Nutrition leverages data analytics to provide enhanced, industry-leading personalized support to its
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Vorwerk 2016 Sales Up 4.1% To Euro 3.1 Billion
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Continued growth, significant investments in the expansion of production facilities, and further development of digital offerings: At today’s press conference in Düsseldorf, the Vorwerk Group Managing Partners, Reiner Strecker, Rainer Genes and Frank van Oers, announced the figures for the past fiscal year, 2016, and the Group’s plans for the coming years.
In the 133rd fiscal year in the history of the company, the Vorwerk Group’s total revenues were up 4.1 percent to 3.1 billion euros (not including VAT). Moreover, the Group generated an increase in business volume, which also includes the new business of the akf group, which totaled 1.2 billion euros. With a volume of 3.8 billion, Vorwerk achieved a year-on-year increase of 4.7 percent.
A look at the German market reveals that the Vorwerk Group is also up on last year. Taken together, all of its German activities generated 7.1 growth in sales to 1.1 billion euros.
At the financial press conference in Düsseldorf, the spotlight was very much on the subject of digitization, which Vorwerk is approaching at many different levels.
“Some of our present products already feature a digital interface, and in the future, all of our products will,” the Managing Partners stated. It is not a question of
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LifeVantage Q3 Sales Of Fiscal 2017 $45 Million
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LifeVantage Corporation (Nasdaq:LFVN) today reported financial results for its third quarter ended March 31, 2017.
“We began to see the turn in sequential sales momentum as the third quarter progressed,” stated LifeVantage President and Chief Executive Officer Darren Jensen
“While sales were negatively impacted early in the quarter, we finished the third quarter with reaccelerating sales growth as we were finalizing the implementation of remedies relating to a recent review of international policies and procedures.
We enter the fourth quarter with renewed business momentum and completed a successful global convention in April that included our rebranding of several key product lines, the introduction of product bundles that deliver greater value for customers and distributors, and integrated applications and technology solutions that were well received by distributors.
Finally, we are progressing with plans to broaden our geographical footprint, and look forward to discussing specific activities to support this growth as the plan progresses.”
Third Quarter Fiscal 2017 Summary:
Revenue decreased 19.9% to $45.0 million, compared to $56.2 million in the third quarter of fiscal 2016;
Revenue in the Americas decreased 21.9% and revenue in Asia/Pacific & Europe decreased 12.5%, both when compared to the comparable period of fiscal 2016;
Adjusted EBITDA decreased 68.3% to $1.6 million, compared to $5.1
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Herbalife Q1 Sales Up 1% To $1.1 Billion
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“We’ve made a solid start to 2017 exceeding our EPS guidance,” said Michael O. Johnson, Chairman and CEO, Herbalife.
“As we transition this June to our new CEO Rich Goudis and my role as Executive Chairman, we are more resolute than ever in making a profound and lasting effect on the nutritional habits of the world and offering people an opportunity to earn in the process.”
“Healthy living is a growing aspiration for more and more consumers worldwide and we are well positioned to capitalize on this trend. We offer a powerful person-to-person alternative to traditional retail, where consumers give our distributors permission to help them with our extensive range of nutrition products.”
For the first quarter 2017, the company reported net sales of $1.1 billion and volume point growth of 1% compared to the prior year period. China sales and
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Plexus Worldwide Named #39 On DSN Global 100 List
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Plexus Worldwide, a leading direct-selling health, wellness and weight management company, was just recognized by Direct Selling News (DSN) as the #39 globally on its List of Top Revenue Generating Direct Selling Companies. Last year, the company ranked as #44.
Plexus was also recognized as one of only seven direct selling companies globally in the past year to increase sales over the past year by more than $100 Million.
The DSN Global 100 is a collective effort to show the impact and potential of the $182.8 billion direct selling channel. The 2017 ranking, unveiled online at DirectSellingNews.com and featured in the June issue of Direct Selling News (DSN) magazine, represents aggregate revenue of more than $80 billion from companies based in 17 countries. The new rankings mark growth for the company which last year came in
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Nu Skin Q1 Sales Up 6% To $499 Million
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Nu Skin Enterprises, Inc. (NYSE: NUS) today announced first-quarter 2017 financial results.
“We are pleased to deliver strong first-quarter results, which demonstrates the progress we made executing on our strategic priorities to increase customer trial and acquisition,” said Ritch Wood, chief executive officer.
“Our quarterly results reflect solid growth in Mainland China, South Asia/Pacific and EMEA.
Our expanding social selling efforts and the continued rollout of ageLOC Me and ageLOC Youth contributed to our strong revenue during the quarter, positioning us to deliver solid performance for 2017.”
“Looking forward, we will continue to focus on accelerating growth, driving innovation throughout our business, and empowering our customers and sales leaders with the products, programs, and platforms they need to succeed in a rapidly-evolving marketplace,” said Wood.
“A key component of our strategy is capitalizing on our early social
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USANA Q1 Sales Up 6.2% To $255 Million
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USANA Health Sciences, Inc. (NYSE: USNA) today announced financial results for its fiscal first quarter ended April 1, 2017.
Financial Performance
For the first quarter of 2017, net sales increased to $255.3 million, up 6.2%, compared with $240.4 million in the prior-year period.
A stronger U.S. dollar negatively affected net sales by $6.2 million for the quarter with $6.1 million of that change attributable to mainland China. On a constant currency basis, net sales increased by 8.8% for the first quarter of 2017. Net sales growth was driven primarily by an 8.1% increase in the number of active Customers.
Net earnings for the first quarter decreased by 4.2% to $21.4 million, compared with $22.3 million during the prior-year period. Higher operating expenses, primarily in SG&A expense, and a higher effective tax rate negatively impacted net earnings
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ForeverGreen – FgXpress Substantial Doubt To Continue As A Company
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In an in-depth report, Duane Bair, research Analyst of Seeking Alpha, a not-so-friendly website for Network marketing companies, points out that ForeverGreen is running out of capital:
Duane Bair:
Almost half of the company’s members left in 2016 (45.5%), marking the worst year for member retention in recent company history.
With an accumulated deficit of $42.7 million and less than $200,000 of cash on the balance sheet, the company is quickly careening toward complete insolvency.
This year (2017), the company has $1.7 million of debt coming due. Operating cash flow is negative, the balance sheet has $187,000, and the company has been unable to get financing through traditional lenders.
It should not come as a shock that management has finally disclosed that there is substantial doubt regarding their ability to continue as a going concern.
“Through a series of