The Pros and Cons of High rich company

Are you looking for high rich company information?

Here I am somen, Sharing with you a piece of full-quality information about this company. After multiple research, I believe I am the man who is the best guide for giving accurate information.

Before discussing highrich one disclaimer here, I collect all information from research (Authenticate Sources) & I am going to write with my personal opinion also so before taking any action make your research.

Now highrich is a popular name in the direct selling market. This company started a few years ago but now the company has gained a big market share in the MLM.

Let’s understand this company.

What is a high rich company?

Highrich is a direct selling MLM company based in Kerala​​. This company was started by Prathapan KD (Managing Director) & Sreena Prathapan is the CEO. This company’s legal name is Highrich Online Shoppe Private Limited & Incorporation on 22 October 2019. As of my research, they have all the compliance documents required for running a business in India.

They do not manufacture their products like other direct selling companies, they sell products that are already available in the market. They deal with some categories like – FMCG, Cloth, Home & Furnishing, Electronics, Jewellery & so on. The main word, they sell daily using products but they do not manufacture those products. They purchase those products from market vendors Like Tata, Fortune, Clinic Plus, Dettol, Horlicks, Surf excel, and More.

But wait friend one twist here they sell all products at discount prices. Can’t be clear, but here is an example – If you purchase Colgate total paste from amazon current price is ₹131/100 gm & when you purchase the same product from high rich costs only ₹97/100 gm save amount is ₹34. This is the main attraction now people love this company & that’s why they grew up in this short period. This is a short overview of this company. Let’s check some valid documents.

Documents

As per the Indian government consumer protection direct selling draft 2021 rules all direct selling companies make transparency with all buyers like all legal documents, company owner, founder, certificate, income tax reports, pan, tan, GST, nodal officer & so on.

As per our research, high rich have some legal documents but some documents we have not found some in public. All documents collect from different sources but as per direct selling guidelines all companies must display them in one place under the official website unfortunately, in this case, they do not display till now when I write this post. Now I’m going to share with you all the found documents list names and images.

Found documents 

• Certificate of incorporation
• Pan card
• Tan number
• Gst number 
• Director list
• FSSAI license

Documents	Documents Numbers
CIN Number	U52590KL2019PTC060038
GST Number	32AAFCH0823E1Z8
Fssai Licence Number	11321008000725
PAN Number	AAFCH0823E
TAN Number	CHNH02028F
High rich Founder	Prathapan KD
Director	Sreena Prathapan
Legal Name	Highrich Online Shoppe Private Limited
Helpline Number	+91 7559900081 , +91 9744338134
Email	info@highrich.in
Address	Capital Art Businesses Spaces, Neruvissery, Arattupuzha P.O, Thrissur, Kerala – 680562

Unfortunately, some important documents not found here are a short list.

• Trade Mark Registration
• Income Tax Return
• Balance Sheet & Audit Report
• Nodal Officer

Before moving on, As per the government’s Income Tax Return, Balance Sheet & Audit Report must be public but here not public those 2 documents & this will be a legal issue. Nodal Officer is also needed for every genuine mlm company but high rich is not public here who is a nodal officer on the other hand like rcm business has a nodal officer. After documentation let’s know about the core body.

Management team

Without a strong management team, the company has not run in a long while here when I check the management team only 3 names are publicly available. But when I try to find information about them. They don’t have any social media profiles and no information in news.

Prathapan KD : He is a Managing Director at Highrich.

Sreena Prathapan : Is the CEO.

Business model

Highrich has 2 business models. 1 is the Mlm binary system, the other is the eCommerce system. As per public information, they start their first business in eCommerce and after that, they come with MLM. A company called their business dynamic e-commerce. Before going to explain more a note here 97% of turnover comes from mlm business.

A binary plan has some disadvantages. In the past when we research maximum MLM companies are closed cases of binary business plans. This plan gives you more money when your team is small after a certain time pair will not match then problems will start. I know this is not a positive word but trust me this is not my word. Everything comes from research.

High rich mlm business : Mlm is a direct selling method to sell products. Example – When you purchase any products from any shop those products do not come directly to the shop. After the company manufactures the product going to any c&f agent after the step distributor, dealer then the products come to shops. But highrich does something different like they purchase products directly from any c&f agent then they sell products to customers like you. This condition applies if you purchase their products directly from their eCommerce website called highrich.in & if you are a highrich member you get a discount and income. 

When you try to purchase their products from an offline store they call their store high rich online shoppe. All conditions are the same as online but here you can get products directly. But when I researched this topic I got some surprises like that shoppe collects products from local distributors. There might be a possible pricing hike on products.

If you are a member you got 3 income

• First Purchase Income 
• Self Purchase Income 
• Repurchase Income 

If you are a member you can join other people in your network using your referral id, They run their business in a binary model that’s why when pair matches you will be rewarded with a fixed bonus of Rs. 200 on every pair match.

Ecommerce business : They sell their products as e-commerce marketplace. Like Amazon, and Flipkart, any guest user purchases products from their website.

Trust

Without trust, how can we believe any companies? Now my opinion may influence your thought but make your search before moving with this business. After deep research, I believe the company is genuine but I have one doubt they will not publicize their tax information if this info will public my confidence boost up may be.

Currently, this company is a private limited company not listed in the share market. As of public information, they transfer user income amount within 24 hours. This is a good sign for a reputed company.

One more trust factor is social media now multiple people join in this business using social media hence they give good reviews about this business.

But if you plan to join, their business step is very simple. Let’s discuss how to join.

Joining

Disclaimer again, this is an MLM company called highrich. If you plan to join this business some conditions might be applied first of all you need an upline who gives you a sponsor id. Without a sponsor id you can’t join. Then here need some personal information & documents example – Your name, address, country, mobile number, State, District & pin code. 

After filling out the joining form you need some documents for verification. Documents list down below – 

• Aadhar card or any id proof 
• Pan card (if any)
• Bank account
• Your current photo

After signup, they ask you to send documents digital copies for identity and address verifications. This step takes a maximum of 72 hours after that your highrich id will be activated but one important step is that without first purchase you can’t do any action or join others in your networks. Before the end let’s discuss some pros & cons –

Pros & cons

Remember no one can be perfect in the world but we must know some insight & I think this is a good way to judge this company. For a better experience, I shared a table down below. Follow the table –

Conclusion

As per my promise, I shared it with you quality information. I think highrich is a good company but there are some drawbacks here. I stand with the truth so here I mention all pros and cons. The final decision is yours, but remember time is money so make sure to choose a good company. 

Anyway, if you find my content useful, then rate us & share this post. If you learn more about high rich then click this category where we wrote more.

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