Today we will be reviewing a company called Belcorp. Is Belcorp a pyramid scheme or scam? Find out in this Belcorp MLM review.
Chances are, you are here because someone mentioned Belcorp to you before. The one who mentioned the company to you is most likely a consultant, and you probably know them personally too. They could be a friend, colleague, family member, or even a stranger.
That is also probably the first time that you heard about Belcorp before. You are here because you are curious if they are a legit company and if they really offer a money-making opportunity as mentioned by the one who introduced the company to you.
Just to clarify, I am not a part of Belcorp.
Also, before you even start thinking that joining this company is a good idea, well, you should at least learn what these two terms mean: MLM and pyramid scheme. These business models greatly resemble each other, but MLMs sell products.
In this Belcorp MLM review, I will be providing information about the company, its products, and how you can make money with it.
Hopefully this Belcorp MLM review can help you decide whether you want to sign up for the company or not.
Before we proceed with the Belcorp MLM review, check out my #1 recommendation to making money online after reviewing 300+ MLM companies.
What is Belcorp?
Belcorp is a multi-level marketing company that sells cosmetics. The company was founded in 1968 by Eduardo Belmont.
This makes the company over 5 decades old. It is quite impressive because most MLMs usually fade out of existence in less than five years.
Belcorp is a well-known MLM when it comes to cosmetics. They are also experienced in marketing, product innovation, and sales. I guess this is expected since they have been around for a long time.
Belcorp also owns these three brands:
- L’Bel
- Esika
- Cyzone
The MLM program that Belcorp promotes gives you the opportunity to market and sell products from all these brands, which makes your options vast.
You can watch the video below to learn more about Belcorp and the opportunity they are advertising.
Belcorp is currently based in Peru.
How Do MLMs Work?
Before we proceed with the review, let me offer a few insights about how MLMs work. It is usually the same for most MLMs anyway, so you can easily observe these patterns.
Most MLMs usually start with the tagline, “You can be your own boss“. The problem with this is it is not entirely true.
MLMs are still corporations that have CEOs, board of directors, and other key positions. So, if you are really your own boss, then why are these people dictating what you should be doing?
It turns out that these so-called opportunities they present make you assume that you are merely an investor, when the truth is you have to work so hard just to even get your money back.
It’s a pretty scummy tactic because you are working for them, yet you have to pay them first.
You do not even get properly compensated for all your efforts. All the company pays for is commission if you manage to sell something.
All those work and effort you have to exert before you can even sell them is not paid and compensated in any way. Imagine how stressful that could be.
Most of the time, MLMs are recruiting the desperate, including single or stay-at-home parents, unemployed people, and fresh graduates. This is because these people just want to make some extra cash, and before they realize it, they are being majorly exploited.
Remember that you need not pay first before you can start working.
Also, if you want to invest in something, why would you invest in an MLM? Invest in lead generation instead.
Is Belcorp a Pyramid Scheme?
Since Belcorp members earn money both by selling services and recruiting new members, then it is safe to say that Belcorp is not a pyramid scheme.
However, even if this is the case, the company still employs the tactic of emphasizing recruiting more than actual product selling. This makes them look like a pyramid scheme in disguise.
Like Nature’s Sunshine, Seacret, and Oriflame, Belcorp is not a pyramid scheme.
Is Belcorp a Scam?
No, Belcorp is not a scam.
However, you need to know that sometimes, companies like these are very biased when it comes to advertising and reporting how much income their members are making.
It falls on your hands to do your own research and find out the truth.
How to Make Money from Belcorp
In Belcorp, there are only two ways to make money:
- Selling products
- Recruiting members
If you want to succeed in this venture, you will need to build your downline. This means that you need to recruit members.
If recruiting is not your cup of tea, then tough luck. You will not be able to last here, because commissions from selling products are very small.
How Does Belcorp Work?
Belcorp relies on its members to do most of the work in growing their company.
The only responsibilities that fall into the company’s hands is conceptualizing and manufacturing their products. The members are the one in charge of marketing and selling them.
You will be in charge of sales so you will need to meet quotas if you want to continue selling. You will be paid a commissions for the amount of products you sell.
To find out more about joining the company, you may click this link.
If you decide to join Belcorp, there is a one-time fee of $59.99. Even though the fee is quite high, remember that you will be able to sell products for three brands.
Belcorp Products
Belcorp sells a variety of products, from cosmetics, beauty products, skincare products and apparel. It seems like the company wants to have something for everyone.
Things I Like in Belcorp
Established Company
Belcorp is able to last for more than 50 years, which is a pretty impressive feat. MLMs typically live shorter than five years, and some do not even see 3 years.
I guess this means that the company employs a good management style, and that their profits keep coming. Good for them.
More Brands to Sell
Most MLMs charge more than $59.99 to start selling. In Belcorp, that fee will let you sell products from 3 different brands.
I guess this is a pretty good deal because you would not need to keep pitching the same products again and again to your potential customers.
Things I Dislike in Belcorp
Lack of Information
For a company that has been around for this long, surely they would have a lot of information available online, right?
Well, no. This is not the case with this company.
Since they are based overseas, most of their information are not even translated in English. Some links in their website are not working, either.
Sales Quota Required
This is one of the things I dislike the most when it comes to MLMs.
You will need to meet a monthly quota in Belcorp to maintain an active status. That does not make sense to me.
Why would you need to keep buying products to continue selling their products?
Another thing that pisses me off about this is that they do not really care if you meet the quota by actually selling. You can buy the products for personal use if you want to.
This means that if you are not able to make your quota, you will have to make up for it by buying the products yourself.
And why would you even need that many products?
I think I get why Belcorp continues making profits now. They have found the best customers that would keep buying from them.
No Income Disclosure Statement
This is another big red flag when it comes to MLMs.
When a company cannot show you its income disclosure statement, it is more than likely trying to hide vital information from you.
This data is very important because it shows you how much the members of Belcorp are actually making, and if Belcorp is truthful in advertising the amount of money you can make with them.
Having nothing to show is basically an admission of guilt that yes, they are lying.
My rule when it comes to companies with no income disclosure statement? Stay away from them. Stay far, far away.
Emphasis on Recruitment
Well, if you think those things I mentioned above are bad, then you are mistaken.
This is the bane of existence of all MLMs. This is what makes the FTC pissed and shut them down.
So far, they haven’t shut down Belcorp yet. Maybe this particular company has found a workaround so FTC would back off.
Belcorp makes this sound so easy, but they are not being truthful about that at all.
Not everyone you know is willing to support or even join an MLM. If you think you can easily build a downline, well, think again.
No one wants to part with their hard-earned money that easily for an MLM.
Saturated Market
Look at all the brands in these images. They are all big brands with great reputation and are very well-known.
Do you think you can compete with these brands if you plan to sell Belcorp products? I don’t think so.
Also, it does not seem like Belcorp is doing anything to stand out to be able to compete with these brands. It’s disappointing.
Do you still think that you should join Belcorp?
Belcorp Compensation Plan
It doesn’t look like Belcorp has an English-translated document of their compensation plan, so I cannot really rely this information to you properly.
However, I found this YouTube video that might help you understand the compensation plan.
10 Shocking MLM Statistics That You Need To Know!
- Almost 99% participants of all multi-level marketing companies lose money, according to the FTC.
- There are 38% more chances of you profiting from your own any kind of small business than joining these MLMs.
- Success rate of an online business, which will give you financial and time freedom, is 20% more than joining MLMs for making money.
- The odds of you winning a lottery worth $10k among 10,000 people is 300 times higher than actually making money from MLMs.
- According to the AARP foundation, 47% distributors of all MLMs lose their money. Apart from this, 27% do not make a single penny.
- In the remaining 26% that actually make money, 53% of them make less than $5000/year.
- 39% of those 53%, who are making $5000/year quit because recruiting and selling crappy products to friends and family members jeopardized their relationships.
- Forget about building a long term business with MLMs, because 50% of all MLMs participants quit within one year.
- 75% people that joined MLMs say that they will never again join any kind of MLM.
- A poll was conducted in 2018 among 1050 MLM distributors and it was concluded that most of them made 70 cents an hour and 20% of them did not make a sale. 60% of them made less than $500 in sales over the past 5 years and 32% of them acquired credit card debt to finance their MLM involvements.
SOURCES:
Final Verdict – Belcorp
Before I conclude this Belcorp MLM review, I would like to share a few insights that may help you decide if you still want to join the company or not.
From the get-go, it does not look like the company has much to offer.
Aside from the lack of information, there are also factors like how the company operates similar to a pyramid scheme. Sure, they are still operating, but for how long?
Even if you are experienced when it comes to selling these products, people would continue choosing brands that they are already familiar it.
With the popularity of online shopping slowly rising, it seems like people are getting less and less interested with direct selling.
Why would you need to go see a stranger to inquire about products when you can easily get it online? Besides, most product information and reviews are also available online anyway.
Look, if you want to make some extra cash, then it is better to look for another opportunity elsewhere.
That’s it for my Belcorp MLM review.
Hopefully this Belcorp MLM review helps with your decision.
I do not recommend MLMs. but if you want to make money online, you should check out my #1 recommendation to making money online after reviewing 300+ MLM companies.