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We will learn the complete details about Modicare company through today’s article. If you want complete information about it, you must read this article until the end. In this, we talked about it, like what is its business plan. How does it work? What is its income plan? And many other things like product and income type information has been given. Let’s start
What is Modicare Limited?
Modicare is a network marketing company that executes its business plan through MLM. MLM means Multi Level Marketing. This CompanyCompany was registered in MCA in the year 1973. Since then till today, this CompanyCompany has been growing continuously. It is included in one of the top multi-level marketing companies in India. The main head office of this CompanyCompany is established in New Delhi. The Company currently has Seven Directors: Balbir Singh, Sameer Modi, Charu Modi, Bina Modi, Rajesh Nair, Anil Kumar Upreti, and Shikha Sharma, respectively. It was started on 30 March 1996 by Sameer Modi. Today it has spread over 2700 consultants with 40 centers, a huge network.
Modicare Limited Profile Information
In this, we have given you some important and basic information about Modicare, which you must know. If you keep all these things in mind and try to understand whether you should join it, you will be able to make a good decision.
|Company Name||MODICARE LIMITED company|
|Class of Company||Public|
|Company Category||Company limited by Shares|
|Registered Address||5, COMMUNITY CENTRE, NEW FRIENDS COLONY, NEW DELHI DL 110025 IN|
|Directors||BALBIR SINGH, SAMIR MODI, CHARU MODI, BINA MODI, RAJESH NAIR, ANIL KUMAR UPRETI, SHIKHA SHARMA|
|Date of Incorporation||12/07/1973|
How to join Modicare Limited?
If you also want to join Modicare or can consider joining, you can join it without any registration fee. You are not charged any kind of charge for joining it. You only need KYC. . After that, you can become a consultant of Modicare by joining it, and you can start working by joining them. You can register online to join Modicare. You have to go to our given link –
- You will be asked for the details of your mobile number and Aadhaar card number, which you must fill in.
- You have to fill in the bank account number in which you want to receive your money.
- You must submit address proof, an ID card, and other necessary documents for KYC.
- Remember that you can fill out this form only if you are above 18 years of age. If you are under 18 years of age, then you cannot register for it.
How does Modicare Limited work?
As we told you earlier, this is a multi-level marketing company which we also know by the name of MLM company. It includes 250 products with 12 categories, which it works to sell through its consultants.
Network marketing never advertises its product. Nor does it sell its products through distributors and retailers. It sells its products only through its consultants, and many of its consultants are present in different cities. Modicare hires a consultant to sell its product, and that consultant hires another consultant, and in this way, the network gets formed, and people keep getting connected. This CompanyCompany advises its consultant to use its product. In return, the company gives a commission to its distributor, or we can do the consultant.
The more products and logos the consultant gets to join, the more he receives as commission. To how many people his team is selling this product, his commission and Profit are given as BV (Business Volume).
In this, many posts have been determined according to Medicare. These include Consultant, Senior Consultant, Associate Supervisor, Deputy Supervisor, Supervisor, and Director. As your sales increase and your business volume increases, so does your level. At the same time, your Royal Income and Main Income keep increasing. There are many other types of commissions in this, which we will discuss further. A good consultant can earn up to lakhs of rupees in his work.
What are Modicare Limited Products?
Modicare is a very big multi-level marketing company. It has been working for many years, so its product range is very large. It includes many categories and products and has a variety associated with other MLM companies. Below, we have given its list, which you can carefully see what kind of product is included.
Modicare Products List
Following are some of the products of Modicare, about which we have given detailed information, what are the types of products, what is their price, information about all these has been given.
- Foods & Grocery
- Home Care
- Personal Care
- Skin Care
You must have understood by looking at this how many products and product ranges are included in it. It provides you with better products than other CompanyCompany. But its price is higher than the market, but there are some products whose price is very low, and the quality is very good. You can buy the product according to your budget, and if you become its consultant or distributor, you are also given a discount. It gives you the product at the maximum discount possible. You can save money on it. This means that the more products you buy, your commission increases.
And in the same way, you can earn money only by buying the product repeatedly. But remember that if you want to earn more money, you have to sell the product. There is a fixed price in this, according to which your point value and business volume of any product are formed. It also gives a catalog to its distributor, in which all the information about the product is given. It works as a tool, so people do not have problems understanding its business.
Modicare Business Plan
If we want to understand its business plan, then we must first understand the MLM company. All MLM companies work on the same model, but their commission models can differ. MLM company has two types of model works generally – product buying and selling, recruitment system is present everywhere. So let’s understand the product buying and selling and its recruitment plan.
Product Buying and Selling: If you want to buy or sell Modicare products, you must join them first. Only then will you get the authority to sell its product. Although you can join it without any registration fee, you will have to sell their products and services by becoming a consultant, from which you will get a commission from which you can earn money. For this, you have to join others as well so that your team can grow and you can get a maximum commission.
Recruitment: The main purpose of doing this business is to add as many people as possible to it. The more you build your team, the more commission you will get. And the more the product is sold, the more money you will get. That’s why you have to get people to join, and they are also encouraged to join. So that both of you can earn money together, this process goes on continuously. Its special thing is that when you add someone, if they sell or use a product, you get a commission for that too. This keeps your passive income coming.
But it is not as easy as you might think. It takes a lot of hard work in the beginning. You have to convince people, and people will understand your words as lies. As a distributor, you can earn money in many ways, which we will discuss below.
Information about Modicare Income Plan
In this, we will understand the income of Modicare, which is of many types. And what are the rules and regulations for receiving it? Let us understand the meaning of PV and BV.
Modicare PV BV Meaning: PV and BV have a lot of Value in this business. Where PV stands for Point Value and BV stands for Business Volume.
Modicare BV, PV is a kind of currency. In which 1 PV = 27 is equal to BV. In this, the PV and BV of the product are fixed, which you get if you sell and buy a product. In this, the Value of PV is converted into BV, after which the consultant gets the money.
Types of Income in Modicare
Modicare gives you the provision of ten types of income from which you can earn money. Let’s understand it. Let’s explain them one by one.
- Saving On Consumption (20%)
- Retail Profit (20%)
- Accumulative Performance Bonus (7% – 16%)
- Director Bonus (4%)
- Team Builder Bonus (14%)
- Leadership Productivity Bonus (15%)
- Dream Travel Fund (3%)
- Dream Vehicle Fund (5%)
- Dream House Fund (3%)
- Atoot Bandhan Bonus (2%)
Keep in mind that you do not get money at the beginning; for this you have to follow some terms and conditions, only after you get money, let’s understand the type of income.
Saving On Consumption: The first income type of Modicare is what we call “savings on consumption” in Hindi. In this, when a consultant buys a product from Modicare, he gets it at a distributor price less than MRP, which we also call retail Profit. This is another type of income.
Retail Profit: In this income, you make less money by selling the product at MRP price. It gives the product to its distributor for less than the DP price. Saving On Consumption and Retail Price are the same thing.
Performance Bonus: According to this income, it promises to give you 7 to 16% of the total BV of the Company
Director Bonus: You need to be at the director level. Only then can you get this income. Modicare has the formula to work out the director’s bonus.
Director Bonus = 4% of the total monthly PV of the CompanyCompany ÷ DB points collected by everyone in the current month.
Team Builder Bonus: In this income, you get 14% of the total turnover of your BV. For this, you need to be at the senior level. Only then will you be able to take advantage of it. This income is given to up to 9 generations of your downline, which we call the Team Builder Bonus.
Leadership Productivity Bonus: You get a bonus of up to 15%, including the total PV. For this, you should be at the level of Senior Director or above, and only then can you take advantage of it. Apart from this, you must make a point of 3600 PV in one of your downlines. Every month, you get Leadership Productivity Bonus, which we call LPB Bonus. This formula is used to calculate the Leadership Productivity Bonus.
Leadership Bonus = 15% of the Company’s total monthly PV ÷ LPB points accumulated by everyone in the current month.
Dream Travel Bonus: It gives you 5% of the total PV of the Company. For this, you also have to be at a higher level, top people. Modicare uses this formula to calculate DTB Bonus.
DTB Point Value = 3% of the total monthly PV of the CompanyCompany ÷ TBB points collected from 5 generations in the current month
Dream Vehicle Bonus: Modicare gives you 3 percent of the total PV in this income. For this also, you should be at a higher level. Only then can you take advantage of this income. With this income, you will have to buy a bike or car worth at least 50,000. What is necessary is the rule of the Company Company. Every leader does not get an income of more than one lakh every month.
Dream House Bonus: In this, you are given 3% of the total PV of Modicare. For this, you have to be at the Qualified Presidential Director level. You do not get more than 1,20,000 in income every month.
Atoot Bandhan Bonus: This CompanyCompany has just launched this plan. We know this as Unbreakable Bond Bonus. In this, you are given a commission of 2% from the total PV of the Company. For this, you should be at Crown Diamond Director level. Only then do you get this income?
Benefits of Modicare Limited
Here we will tell you about the benefits of Modicare, which you have to understand and decide whether you want to join.
- You can work both part-time and full-time, it is your choice.
- You can join it without any degree. In this, you can become a distributor of Modicare. Anyone can join in this.
- There is no time to work in this, you can work whenever you want, but you have to work. Otherwise, you cannot make money.
- You do not have any boss in this. You work with your mind.
- In this, you also get a chance to travel from one country to another.
You are given training in which you can improve your skills. You are taught things like Public Speaking, Leadership, Communication, and Presentation Skills in this.
Disadvantages of Modicare Limited
Now we have talked about its advantages. Now we will know about some of its disadvantages and what you will lack.
- This is a network marketing business. You have to learn Invitation, Presentation, and Follow Up. Only then can you do something about it.
- In this, you have to sell the product, and then you can make money. Otherwise, you cannot make it.
- You get very little money initially, so you have to do team building.
- To succeed in this type of business, you must work continuously for 1 to 2 years.
Today in this, we have learned about Modicare. We have discussed its product, income, advantages, and disadvantages. Now, after all this information, you have to see whether you are worth it and can do this work. If yes, then should you join it? Whether or not it’s up to you,, it’s up to you whether you want to join.