I was given the opportunity to become a Mary Kay consultant. Basically, I bought a starter kit for $100. The contents of the bag are worth $410 though so a profit can be made. I am currently in an MBA program and work full-time as a recruiter. I still need extra money which I usually get some by babysitting, but it's sporadic and can be long hours on a Saturday night when I would rather be out having fun ha!
With this, you schedule parties or consultations with people you know or meet who become your customers. The parties consist of 4-8 women who get to get free facials and try new products and there's an opportunity to purchase too if you want to.
The director of my group suggested I buy inventory to have on hand. This way when people want something, I don't have to order offline (you pay $9 shipping irregardless of your order size, so it makes sense from a business stand point to order bigger orders). The inventory is around $2000 but contents are worth $4500. So, can definitely make some money. Plus, people are more likely to purchase when they don't have to wait to receive their products.
I signed up for MK Visa too which offers 3% cash back on MK purchases and 0% interest for the year, so I could pay minimum payments on that not full balances. Theoretically though, i'll be making money so won't actually ever be paying it off with my money, rather with my earnings, if that makes sense.
Shockingly to me, you can make a lot of money doing this, the director of my group made like 6 figures last year. I'm looking to make an additional 5-10k since I already work and can't devote a ton of time to this. I told her I could realistically devote 5 hours a week to it and she thinks if I had a 1-2 parties a week I could make that for sure.
Basically, what do you guys think? Should I go for it and take the risk and purchase the inventory?
However, I know and the director told me it's next to impossible for me to sell absolutely nothing so even if I sold some then opted to utilize the buy back deal, whatever money I lost since I only get 90% back, aka the 10% won't really be lost because i'll have sold some merch, if that makes any sense...