I love books. I love reading. I love my family. I also love good economics.
Put all of those together, and you don’t have to look very far to see that Bookwise might be a fun club to join, but by its very nature, it is not a career-wise decision if this is going to be your home based business.
Here are some of the Economics:
First of all, the auto-ship is relatively small. While this seems great to get in, it is not great for making money.
Second, your customer/membership pool gets eaten up pretty fast. Really, after your friends and family, how many people are going to jump into a $35/month book club? Also remember, to make it worth your time, you’re going to need to have a big down line.
Thirdly, alternatives and competition are plentiful. It’s books. Readers digest, barnes and nobles, amazon, etc. Nearly all of the services offered by your Bookwise Membership can be found at your local library or community bookstore.
Fourthly, opportunity cost. If you are involved in other Network Marketing pursuits, remember that focus is really the key to make things work. Be aware that book clubs and additional commitments are a great way to lose focus. Just make sure that as a business pursuit, its financial benefit outways your focus lost.
There is a fun little charity aspect to their company. 1 dollar out of every 40 spent will go to a charity.
While I’m confident those dollars will be useful to those charities, imagine all of the money you could donate if you bought less expensive books or took more advantage of your community library or bookstore services?
What’s my personal opinion about Bookwise? I love books. I love reading. As a hobby and social venue, I endorse it as a great opportunity to meet other people and share ideas.
As a business pursuit however, it doesn’t strike me as a very wise decision. Please though, share your thoughts.