The cannabis industry has gained massive popularity over the last couple of years. And without a doubt, it’s here to stay. In fact, almost every day, you will come across a video on various online platforms, talking about the medical benefits of marijuana.
Thanks to this booming market that has risen around the manufacture and sale of cannabis products, some business opportunities have come up, promising interested people a share of this business.
Kannaway is one of such opportunities. In this Kannaway review, we will evaluate various aspects of the company such as the product line and the compensation plan, to help you decide whether it’s the right business opportunity for you.
Launched in 2014, Kannaway is a network marketing company, which sells hemp-infused products. It was founded on the premise of sharing the benefits of hemp-based products while empowering people around the globe to earn a decent income selling the company’s products. In 2014, Kannaway received the Startup of the Year Award from the Academy of Multi-Level Marketing, as a result of its supportive company structure and swift brand growth.
Kannaway has a customer base from all parts of the globe. They also have a group of passionate brand ambassadors, who ensure that customers have access to the company’s products on time. So, is Kannaway a legitimate MLM company or just another scam? Well, let’s find out.
As noted above, Kannaway sells a wide range of hemp-infused products. According to the company, all their products are made of natural ingredients such as non-GMO hemp grown, free of all types of synthetic fertilizers. All their products are put through a stringent lab-testing process, to ensure that the consumer ends up with a reliable, safe and healthy product. Also, the products can be used by the whole family.
Some of their most popular products from their line include:
- Kannaway Pure Gold:
This product is designed to offer the user all the benefits of pure hemp oil. It’s a great source of flavonoids, terpenes, CBD, as well as other trace cannabinoids. It’s available at a retail price of $187.99
- Essential Oils Energy:
You might sometimes find yourself with numerous tasks that you need to attend to. In such a situation, you might not have enough sleep, so that you can create ample time for your tasks. Kannaway Essential Oils Energy is meant for such days. It will revitalize and uplift your body, while giving you enough energy to boost to attend to your tasks.
Kannaway uses a straightforward compensation plan, designed to make it easy for its affiliates to earn a decent income. But before you can start earning commissions, you need to meet 2 main requirements. First, you need to register as a company’s brand ambassador or an independent business owner.
To qualify as an independent business owner, you should visit the official company website, provide the required information and then pay a brand ambassador fee of $54.98. The brand ambassador fee is paid annually. Once you pay this fee, you will have access to a replicated company website, a secure back office, training and support tools as well as administrative support.
The second requirement is that you need to maintain the specified personal business volume for your rank every month, either via personal orders or via customer sales. Once you meet the qualifications of a brand ambassador, you will start earning commissions and bonuses whenever a sale takes place in your organization.
It’s important to note that whenever you enroll in this company as a brand ambassador and purchase or sell a Faststart Jr Executive within 30 days, a Faststart Total Project Experience in 60 days or a Fast Start Executive in 45 days, you will automatically become Faststart Qualified.
As a brand ambassador, you can make money through the following ways.
- Customer Sales:
As a qualified brand ambassador, you will earn commissions whenever you sell products directly to your customers. You will purchase the products from the company at a wholesale price, and then sell them at a retail price, thus earning a commission. These commissions are paid weekly.
You will also come across some customers who prefer auto-shipment of products, without having to place a new order every month. Such buyers are known as preferred customers. Preferred customers also buy products at a wholesale price. Kannaway brand ambassadors will earn a commission of 30% whenever they sell products to preferred customers. Also, this commission is paid out weekly.
- Faststart 3,000 Challenge Bonus:
Unlocking the Faststart 3,000 Challenge earns you a bonus of $1,000, which is usually paid out over 2 months. To qualify for this bonus, you need to become Faststart Qualified within 30 days after qualifying as a brand ambassador, generate group sales volume of 3,000 points within 60 days of enrolling and generate a sales volume of 110 points from direct sales in the 2nd and 3rd months of qualifying as a brand ambassador. The 3,000 points from group sales volume shouldn’t come from one leg.
- Faststart 9,000 Bonus:
If you unlock this challenge, you will earn a bonus of $2,000. To qualify for this bonus, you need to generate at least 9,000 volume points in group sales volume within 90 days of qualifying as an ambassador. Of the 9,000 volume points, 60% shouldn’t come from one leg. Also, you need to maintain at least 110 volume points in personal sales in your 2nd and 3rd months. This bonus is paid out over 2 months.
- Direct Sales Bonus:
One of the main benefits of joining a multi-level marketing company is that you will require lower start-up costs, compared to a brick-and-mortar business. But as much as the expenses might be low, you will still need some capital to get off the ground. The good news is that Kannaway uses a different approach, to help its brand ambassadors to get off the ground as quickly as possible.
Whenever you personally enroll a new team member, and the newly enrolled team member sells products, you will automatically qualify for a share of their profits. This share is known as Direct Sales Bonus. If you are the enrolling brand ambassador, you will earn a commission of 30% of the sales volume that your recruit has generated within their first 30 days of enrollment.
- Residual Team Override Bonuses:
As you rise through the company’s compensation structure, your earnings from building a team as well as a loyal customer base will increase. Kannaway uses a 9 level compensation structure, which is divided into two legs. Once you enroll as a brand ambassador, you will automatically join your sponsor’s first level. The higher the level, the more commissions you will earn.
- Rank Infinity Bonus:
This bonus is paid out to brand ambassadors between the ranks of Executive Director and Crown Ambassador Elite. If you belong to any of these ranks, you will start earning a commission of 1% on all qualified sales taking place from the 6th level downwards. You can also earn a cumulative Rank Infinity Bonus on more than one rank, thus increasing your earnings further.
- Rank Advancement Bonus:
These bonuses are designed to reward new brand ambassadors as they qualify for the different ranks. And if you achieve these ranks faster than the specified timelines, then Kannaway might double your bonus. You will earn this bonus whenever you attain the rank of Executive Director, Area Director, Regional Director and National Director. You will be paid your bonus in the following month after qualifying, together with your monthly commissions.
Without a doubt, Kannaway is a legitimate MLM company that sells real products. Also, their compensation plan is designed to give you maximum returns for your efforts. But just like most other MLM companies out there, your success will ultimately depend on the amount of effort that you and your sales team puts in.
Besides that, as much as their products are of high quality, their prices are quite steep, compared to other hemp-infused products on the market. You might also run into some legal challenges, depending on the laws applicable in your specific jurisdiction. If you are passionate about hemp and CBD-infused products, then this opportunity might be great for you.
At the same time, if you are not sure how this industry works, then it’s advisable to explore other opportunities.