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Faizan
Team Beachbody is a network marketing opportunity that focuses on promoting healthy living through exercise and proper nutrition. While they are best known for P90X and Insanity, they are also the company behind 10 Minute Trainer, TurboFire, Les Mills Pump and many more fitness programs. This is important to know if you are considering partnering with the company and becoming an independent Team Beachbody Coach.
It is important to understand that by joining Team Beachbody, you are starting your own business. They do not tell you your hours, your business strategies, or who you need to work with. You have the freedom of a business owner. Being a business owner also comes with responsibilities. You are responsible for the start up costs ($40), and monthly fees ($16). For these costs you receive 3 websites for promoting your business, and Beachbody handle the tracking, shipping, customer service, payouts, etc.
The earning potential is high, but everything is performance based. At work, you may work for 8 hours, so you receive 8 hours pay. As a business owner, you don't get paid unless you are selling products. This means that you may make a lot, or you may make nothing as a Beachbody Coach.
How You Make Money
There are several ways that you earn money through as a Team Beachbody Coach. The first is the 25% commission. You receive this on all sales that come through your websites. It is important to note that once they order through the site Beachbody handle the rest. You collect the commission because the sale is traced to your site. Another way that you make money is by helping other coaches sell products. Once you are a coach, you can not only sell products, but also sign up other coaches. You do not make anything for simply signing them up. In order for you to make money from their business, they must sell products. It motivates coaches to work together to succeed.
As a business owner, it is important to understand that the money you spend on your business is tax deductible. That includes your start up costs, monthly fees, and products, assuming that you are using the products in a way that promotes your business, such as writing reviews on them.
Do I Pay Taxes as a Team Beahcbody Coach?
You receive a weekly check as a coach, based on the volume that your business generates. If you make less than $600 for the year, Beachbody will not send you anything to file for your taxes. However, if you surpass $600, you will receive a 1099 which you responsible for paying taxes on. This is why it is important to remember your deductions.
It is important to understand that by joining Team Beachbody, you are starting your own business. They do not tell you your hours, your business strategies, or who you need to work with. You have the freedom of a business owner. Being a business owner also comes with responsibilities. You are responsible for the start up costs ($40), and monthly fees ($16). For these costs you receive 3 websites for promoting your business, and Beachbody handle the tracking, shipping, customer service, payouts, etc.
The earning potential is high, but everything is performance based. At work, you may work for 8 hours, so you receive 8 hours pay. As a business owner, you don't get paid unless you are selling products. This means that you may make a lot, or you may make nothing as a Beachbody Coach.
How You Make Money
There are several ways that you earn money through as a Team Beachbody Coach. The first is the 25% commission. You receive this on all sales that come through your websites. It is important to note that once they order through the site Beachbody handle the rest. You collect the commission because the sale is traced to your site. Another way that you make money is by helping other coaches sell products. Once you are a coach, you can not only sell products, but also sign up other coaches. You do not make anything for simply signing them up. In order for you to make money from their business, they must sell products. It motivates coaches to work together to succeed.
As a business owner, it is important to understand that the money you spend on your business is tax deductible. That includes your start up costs, monthly fees, and products, assuming that you are using the products in a way that promotes your business, such as writing reviews on them.
Do I Pay Taxes as a Team Beahcbody Coach?
You receive a weekly check as a coach, based on the volume that your business generates. If you make less than $600 for the year, Beachbody will not send you anything to file for your taxes. However, if you surpass $600, you will receive a 1099 which you responsible for paying taxes on. This is why it is important to remember your deductions.
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