I recently took a look at the Mynt MLM program and decided to write this review on it. So if you want to know how it works and what’s up, you’re going to get that here.
Quick Report on Mynt MLM:
Price: Varies (more details below).
Final Rating: 3 out of 10 stars (Proceed with caution)
I personally never get involved with ANY sort of MLM program, but a reader asked me to look into a new one called MYNT and tell them what I think.
I will say in advance, some may consider what I say about it bias, but I base my opinions on what I consider realistic expectations, ethics and my many years experience in doing online marketing. Let me tell you right now, in my honest opinion, I don’t believe this place is the grand opportunity that some are making it out to be.
Mynt MLM explained:
This MLM is part of a bigger company called MonaVie.
Mynt sells health related products and is designed to target what they call “Gen C” which is basically generation Y people (18-34) who are into technology and other modern day advances.
Ways to make money with the Mynt MLM program:
I’ve read through Mynt’s compensation plan and in while it is confusing to understand when you first read it, what you need to know is that there’s 7 ways to make money. Here is a screenshot:
I won’t get into details on each of the 7, but for the most part it’s all about making money via:
1) Direct sales: You buy Mynt’s products and then re-sell them for a price of your choosing, then keep the difference.
2) Team sales: You create a downline and earn points/rewards for the sales your team brings in.
3) Referring people to it: They don’t call it recruiting from what I’ve seen, but it’s still that. Basically you get points and rewards for getting others into the business and if they get others into it, you also earn a piece of that pie. This brings up the speculation of pyramid schemes as MLM business models tend to be eerily similar to them. See the difference between MLM and pyramid schemes.
Do I believe Mynt is a pyramid scheme?
It’s a very slippery slope, but I’m leaning towards the no side (by definition at least) because there is an actual product being sold. Their compensation plan however isn’t something I’d personally get involved with though as I feel it’s going to be VERY difficult to succeed with it.
The reason I say it’s a slippery slope is because if you take away products from an MLM and just leave the recruiting model intact, it is a pyramid scheme, but MLM’s have become very good at creating products to not be labeled as such by definition.
So now that you know the basics of making money with Mynt. Now let me get into some very important topic:
The realism of making money with Mynt:
I don’t think there is much. There are a number of reasons for this:
1) As with any other MLM I’ve reviewed and seen people work with, the odds of making GOOD money with this program/product and building a sustainable business are unlikely. Note, I did say GOOD money and sustainability.
2) Put all the hype aside and let’s look at what we have: It’s just another MLM program in my opinion.
3) I believe Mynt is doing a great job of targeting a specific demographic of people and trying to get them all involved into a group style project. I’ve been in this business for many years and I feel like this whole hype about being part of a movement is just a marketing tactic.
Come up to some young people looking to do something with their lives and tell them they can be part of something big and live the life they want, without getting into details on what you’re selling them and you’re bound to arouse interest.
Yet I’ve seen this used again and again. Like I said before, I don’t see much different between Mynt and other MLM programs I’ve reviewed and that includes the “good” ones.
4) Let’s try to examine their direct selling model: You’re going to be buying Mynt’s products and trying to re-sell them. I personally find this tactic very difficult to do because you’re probably looking at door-to-door selling or trying to entice family/friends to buy the products.
Now I’m not questioning the quality of the products being sold by mynt. I haven’t tried them and for all I know they could very well be the real deal, but even in that instance, just trying to sell something to someone is in my experience a VERY hard thing to do.
I also often bring up the example of products in MLM programs vs competitor products on the market and that the latter has a huge advantage and more appeal in my opinion because with regular products you can just buy them, whereas with many MLM’s you are subjected to signing up and buying products in bulk. Most people in my experience simply won’t go for this, making the whole sales angle that much more difficult.
I personally feel that if you try this, you’re likely to spend a lot of money on buying their products and not being able to make much, unless you possess a store and a huge customer base who takes your advice on everything you suggest and since most young people do not have that, it’s just another con to trying to sell these products.
The only other option I feel could lead to success is doing online marketing and selling these items to people, otherwise, it’s going to be VERY difficult.
5) The recruitment model: I just don’t believe in building a downline. I feel this is a house of cards waiting to fall, not just with this program but any MLM. If you aim to make money via recruiting, then you need to make sure your referrals refer other people into it, otherwise they won’t make money and if they quit, so will the people who referred them and this eventually trickles UP (not down) to you.
There are really more reasons I just don’t believe in mynt.
Pros:
- There is potential to make money with the program.
- Quality of products may very well be great.
Cons:
- I feel it’s just another MLM program.
- I feel the likelihood of making good money with this program aren’t that high.
- There is a lot of hype to this program and not much else that makes it stand out in my opinion.
Final Rating: Mynt MLM
Yellow Light (Caution)
3 stars out of 10. I personally don’t recommend it. I’ve been involved with an MLM in the past and it never worked out. What did work for me was doing online marketing (not MLM). That truly has great potential if you have the proper guidance. Here is my #1 recommendation called Wealthy Affiliate for that.
My final thoughts:
In general I don’t see anything that makes this company stand out above other MLM’s I’ve reviewed before. I’ve looked at Mynt’s website, read their opportunity, confusing compensation plan and checked out their videos, as well as sales pitches.
And in spite of all that research, not much is actually explained about the company other than what I just told you. What I see is more hype than anything else, videos and images of happy young people enjoying life and being part of what they call the “Movemynt”.
I see this sort of hype with other MLM’s which sprout and in many cases, that’s all that there is: hype. In my opinion, I believe Mynt is just another MLM which will come and go and as for the opportunity, I just don’t see much of it. Like I said before, I prefer doing online marketing because that’s where you can truly make a living (although it’s not easy) and never getting involved with ANY MLM program, but that’s my personal opinion.
If you agree/disagree with me or have a personal review/story about mynt you’d like to share, I’d love to hear it!