What’s going on in the economy affects the number of people looking for other sources of income…
In the early 90’s after the recession and housing market crash, a lot of people needed to generate extra income just to keep their houses. Times like these are good for network marketing as they provide the stimulus for people to get out of their comfort zone and do things they wouldn’t normally do – like consider a part-time career in network marketing for example. That’s one of the reasons why the the 90’s was a great time for recruitment in our industry.
From the late 90’s up until recently, people have been feeling wealthier. House prices have boomed so people have felt wealthier due to the build up of equity in their homes. Investments also performed quite strongly meaning people had less need for additional sources of income. On top of this, jobs were relatively secure with low unemployment. This is one of the reasons why, for the last 5 or 6 years recruitment has not been strong within the industry.
Another thing happened in the mid 90’s is lenders moved from away from excess capital lending, towards asset (or security) backed lending. This flooded the market with easily accessible credit meaning that rather than people having to work more to save money, they could just borrow the money on a credit card or a loan (either secured or unsecured). Many people released equity built up in their property.
Things are now changing massively…
The economy is now entering a recession. House prices are falling (approx. 3% last month), stock market based investments are not yielding results and credit is becoming increasing difficult to obtain e.g. mortgages and loans i.e. the credit crunch. Here’s some statistics that you might want to make a note of:
- Over 5 million people will be coming off fixed rate mortgages this year and going onto higher interest rates. This will cause a big drop in disposable income and cause many to lose their homes
- Credit card debt in the UK is currently at £56 billion. Yes, BILLION
- Last year, consumer debt in the UK topped 1 TRILLION for the first time
- This debt has to be paid back one way or another. Probably from a mixture of higher interest rates and taxes. Again, this erodes people’s disposable income, which means more people looking for other sources of income.
Bottom Line: more people looking for other sources of income = more potential prospects for your Kleeneze business. It’s now time for the next big wave of recruitment into our industry.
Two Recent Kleeneze Distributor Case Studies
To find out how you can start developing a part-time income with Kleeneze, please go to the Kleeneze Startup Options page.