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Cosmetics · Breakaway MLM

FARMASI US LLC

The cheapest door in the category at $19.99 with no renewal - attached to a 125 PV monthly qualification that costs roughly $1,500 a year, and an income disclosure that has not been updated since 2022.

Reviewed July 28, 2026 Founded Turkish manufacturing parent founded 1950 by Dr. Cevdet Tuna · US direct-selling operation launched 2018-19 Confidence: Medium
D+GRADE
5.2/10
Weighted composite

CHEAP DOOR, EXPENSIVE ROOM

A genuine third-generation Turkish manufacturer selling drugstore-priced cosmetics, wrapped in a plan whose commission rate is set by how big your group is rather than how much you sell.

The question you came with

Can you actually make money with Farmasi?

NO No - not on the numbers this company publishes

No, and the pivot is one rule inside the compensation plan. Your Personal Bonus, the rate you are paid on your own sales, runs from 3% to 25%, and the variable that sets it is your group volume rather than your sales. Two entrepreneurs make the identical $100 sale to the identical customer; one keeps $3 and the other keeps $25. The only lever that moves your own rate is recruiting.

The cost side is fixed and the outcome side is four years old. Being commission-qualified takes 125 PV a month, about $125 of wholesale product, roughly $1,500 a year. The most recent US income disclosure covers 2022, and in it 59.08% of commission-eligible distributors sat at the 0% or 3% bonus levels, with annualised averages of $102.53 and $474.49. Since then the company reports growing 42% to $610 million and adding more than 500,000 people, with nothing published for 2023, 2024 or 2025.

Two things here are genuinely good and I will say them plainly. The door is the cheapest on this site, $19.99 once and sometimes $6 on promotion, with no annual renewal at all, so nobody is taking a large sum off you at the moment you know least. And the products are priced like drugstore cosmetics: $11.90 for a lipstick, $15.90 for a BB cream, $22.90 for a foundation, against a straight 50% participant discount. A customer buying Farmasi is not paying a three-times premium to fund somebody's override, which is close to unique in this category.

What it costs to be in
$19.99

one-time, no annual renewal - then 125 PV a month, about $125 wholesale, to be paid anything

What would have to change
  • A current income disclosure. The last one covers 2022, and the company says it has added more than half a million people since, so no published outcome data exists for essentially the entire present-day field.
  • A Personal Bonus rate set by what you sell rather than by how many people sit under you. While the same sale pays 3% or 25% depending on group size, the plan rewards recruiting at the level of the individual transaction.
  • The 125 PV qualification written into the agreement people actually sign. It appears nowhere in the Entrepreneur Application and Agreement, only in marketing collateral, so the number deciding whether anyone is paid can move without amending the contract.
  • The eight earnings claims left outstanding when the company stopped responding to the self-regulatory inquiry. Twelve of twenty were removed; the case closed because engagement ended rather than because the issues were resolved.

That call is computed, not chosen - the rule reads three of the nine published dimension scores and is printed on the methodology page. It describes this company's plan and the figures it publishes about the people already in it. It is not a prediction about you, and nothing on this site is advice.

$19.99
One-time entry, no renewal fee
the cheapest door of any company on this site
~$1,500
Annual cost of staying commission-qualified
125 PV a month at roughly $1 per PV wholesale
59.08%
Sat at the 0% or 3% bonus level in 2022
annualised averages of $102.53 and $474.49
2022
Year of the most recent US income disclosure
none published for 2023, 2024 or 2025

Legal status

LEGAL - no FTC action, no state attorney general action, no consent order, no pyramid finding and no criminal proceeding against the US entity could be located. The file contains one self-regulatory case (DSSRC #208-2025, closed 2 April 2025) in which the company went unresponsive on follow-up, and one private TCPA suit filed in the Southern District of Florida in December 2024 whose disposition is unresolved.

Confidence: Medium

Primary sources fetched directly where possible. Everything we could not verify is listed at the bottom of this page by name.

What this actually is

Follow the money

A Florida-registered importer selling Turkish-manufactured cosmetics, skincare and household products through US independent distributors called Entrepreneurs, on a breakaway plan where the commission rate on your own sales is set by the size of your group.

Start with what is real, because a lot of it is. There is a factory. The Turkish parent has been manufacturing since 1950, the family is in its third generation, and 701 US customs entries since 2019 confirm physical goods crossing a border. The prices are the least predatory in the category - $11.90 for a lipstick, $15.90 for a BB cream, $22.90 for a foundation - which means a customer buying these is not paying a 4x tax for the privilege of funding a compensation plan. Entry is $19.99 once, with no annual renewal, against $99 to $1,700 elsewhere. And the participant discount is a straight 50%, so the retail margin available to someone who genuinely sells is honest. None of that is faint praise; most of what gets graded on this site cannot claim any of it.

Then look at how you get paid. Farmasi’s Personal Bonus is the percentage you earn on your own personal sales - and it is not set by your personal sales. It is set by your group volume, running from 3% at the bottom to 25% at the top. Two entrepreneurs make the identical $100 sale to the identical customer; one earns $3 and the other earns $25, and the only difference is how many people are underneath them. Layer on a $30 bonus for each newly sponsored entrepreneur and a rank ladder counted in breakaway legs from one to thirty-plus, and the plan’s gravity is unmistakable. The cheapest way to raise the margin on your own retailing is to stop retailing and start recruiting.

And then the number that decides the grade. To be commission-qualified you need 125 PV a month - roughly $125 of wholesale purchasing, about $1,500 a year, or roughly $250 a month at catalog value. The last US income disclosure Farmasi published, covering 2022, showed 29.88% of commission-eligible distributors at the 0% bonus level averaging $8.54 a month, and 59.08% sitting at the 0% or 3% levels with annualised averages of $102.53 and $474.49. Five point four one percent held any Director title; 0.76% reached Golden Director or above. Set $1,500 of required purchasing against $102 to $474 of average commission and the arithmetic is not close. What makes it worse is that this is the newest disclosure available: nothing has been published for 2023, 2024 or 2025, the exact window in which the company says it added more than 500,000 people.

Where commission-eligible US distributors sat in 2022

Farmasi’s own income disclosure statement - the most recent one published. Figures are percentages of commission-eligible distributors, which already excludes anyone who did not qualify at all.

59% 36%
0% and 3% bonus levels - $102.53 to $474.49 a year (59.08%)6% to 18% bonus levels (35.51%)Any Director title or above (5.41%)
ProductPricePays
Entrepreneur enrollment
Includes a starter box of catalogs, samples and marketing material. No annual renewal. Promotional $6 sign-ups have appeared periodically. Genuinely the lowest cash barrier on this site.
$19.99
one-time
Activation Pack (enrollment window only)
Marketed at a "$340 value". Purchasable only at sign-up, which manufactures urgency at the least-informed moment in the relationship.
$125
one-time
Welcome Pack (enrollment window only)
Marketed at a "$500+ value". Same once-only window. Both packs are optional and both are heavily promoted.
$200
one-time
125 PV monthly qualification
The real cost of the business: about $1,500 a year, roughly $250 a month at catalog value. It is not in the binding Entrepreneur Agreement at all - it lives only in marketing collateral.
~$125/mo wholesale
recurring
Account-open minimum
About $42 a month equivalent. Enough to keep the account alive, nowhere near enough to be paid on anyone else’s activity.
125 PV / 3 months
rolling
Matte lipstick
About $5.95 of gross margin at the participant discount. Honest drugstore pricing - the product side of this file is not the problem.
$11.90 catalog
per unit
50%
BB cream / foundation
Comparable to mainstream mass-market brands rather than to prestige lines. This is the strongest single argument in Farmasi’s favor.
$15.90 / $22.90 catalog
per unit
50%
Replicated personal store
No monthly website fee could be found in any source, against $10-$25 a month at most peers. Treat the absence as probable rather than certain - the company does not state it.
no fee identified
Background check

Who runs it, and what they ran before

DC
Dr. Cevdet ("Dr. C.") Tuna
Founder of the Turkish parent, 1950 (deceased)

A pharmacist who built the manufacturing business in Türkiye. The Dr. C. Tuna, Nutriplus and Mr. Wipes brand names all derive from him. The important structural point is that the factory came first and the direct-selling channel came later - this is a manufacturer that added an MLM, not an MLM that commissioned a manufacturer.

ST
Sinan Tuna
Chief Executive Officer, appointed 22 September 2020

Grandson of the founder, third generation. Educated at Regent’s University London; a sales manager at Gartner in London in 2017; joined the family business and became a board member in 2019; named to Fortune Türkiye’s 40 Under 40 in December 2019. His pre-Farmasi record is thin but it is clean - no prior launch-and-collapse, no serial-founder pattern, no regulator-shuttered venture. That is meaningfully better than the modal founder profile in this category.

ET
Emre Tuna
President; recorded at the BBB as Owner of Farmasi US LLC

Brother of Sinan and also a grandson of the founder, previously associated with the CIS and Europe operations. Ownership, executive control and the manufacturing supply chain therefore all sit inside one family, on both sides of the import transaction.

Gn
Governance note
What is not published

No independent US board, no named US compliance officer, no audited financials, and no membership of the US Direct Selling Association. The BBB records an A+ rating but the business is not BBB-accredited, with 26 complaints closed in three years. For a company reporting $610 million of global revenue and adding half a million participants in a single year, the absence of a publicly identifiable US compliance function is the governance headline.

Registered address

Miami, Florida (US) · Istanbul, Türkiye (manufacturing)
Privately held and family-controlled across three generations, with no audited public accounts in either jurisdiction. Every revenue figure in this report is a company statement or a third-party estimate. The US entity imports from the Turkish parent - customs records show 701 US bills of lading between February 2019 and January 2026 with Turkey as origin, 445 of them naming Tan-Alize Kozmetik as supplier - which means transfer pricing between the two sides is a family decision with no external check. No US-resident CFO, General Counsel or Chief Compliance Officer could be identified in public sources.

Compensation plan

What has to be true for you to get paid

To coverYou need
Open an account and keep it open $19.99 + ~$42/mo
entry, no renewal, then 125 PV per rolling three months
Be commission-qualified every month ~$125/mo
125 PV of personal volume = about $1,500 a year
Cover that $1,500 from retail margin alone ~$3,000 of catalog sales
at the 50% participant discount, if you actually resell
Cover a realistic $2,000 all-in first year ~$4,000 of catalog sales
against $102-$474 average annual commission at the levels where six in ten sat

Read this twice

The honest complication in Farmasi’s favor is that the 125 PV is a purchase, not a fee. You receive product worth roughly $250 at catalog for the $125 you spend, and if you would have bought cosmetics anyway the true cost is the difference between what you wanted and what you had to buy to hit the number - not the whole $125. That is a real distinction and it is why this file lands at D+ rather than lower. But it only holds if you consume or resell the product. The moment the monthly order becomes something you buy because the number requires it, the discount is irrelevant and you are simply spending $1,500 a year to stay eligible. The 2022 disclosure is the only evidence available on how that turns out, and it shows 29.88% of commission-eligible distributors at the 0% bonus level earning $8.54 a month. There is a second, quieter tell: Farmasi-branded product is openly listed by third-party sellers on the large marketplaces, and the binding agreement contains no marketplace policy of any kind. Distributors liquidating unsold qualifying stock below catalog is exactly what that looks like, and it does two things at once - it confirms the product is not all reaching customers through the intended channel, and it destroys the margin of the participant who is trying to sell honestly.

Run your own numbers

Drag the sliders. Nothing here is stored or sent.

-
Cumulative net, after costs
Retained retained catalog customers -
Commission that month -
Total commissions earned -
Total you paid in -
Net -

50% margin on a customer spending about $50/month at catalog. Cost is the 125 PV monthly qualification - roughly $125 wholesale - which is what makes you commission-eligible at all. Entry is $19.99 once with no renewal and is excluded. For calibration, 59% of commission-eligible distributors annualised $102–$474 in the last published disclosure, which covers 2022. Your own subscription cost of $125/mo is included.

Your money

What it costs to replace this yourself

Unusually for this site, the replacement exercise is close to a wash. Farmasi is not priced at a premium to the open market - it is priced at it. The comparison below uses Farmasi’s published catalog prices against typical US mass-market drugstore cosmetics, and the gap that matters is not the price of the product but the price of the qualification.

What they sell youWhat you'd use insteadYour cost
Matte lipstick - $11.90 catalogMass-market drugstore lipstick, comparable finish~$7-13
BB cream - $15.90 catalogDrugstore BB cream, comparable coverage~$9-16
Liquid foundation - $22.90 catalogMid-tier drugstore foundation~$12-20
Mascara and eye pencil setEquivalent drugstore pair~$12-22
125 PV monthly qualification - ~$125 wholesaleBuying only what you would actually use$0-40
Annual cost of staying commission-qualified - ~$1,500No qualification, no plan, no requirement$0
Total as sold
~$1,560 in year one
Total, built yourself
~$120-450 of the same cosmetics

Price-to-value

The products genuinely are competitively priced, and a customer who likes them is not being overcharged - that is a real and unusual finding in this category. The premium is not in the basket, it is in the qualification. You are not paying 3x for a lipstick; you are paying about $1,500 a year to be allowed to earn a commission percentage that, for six in ten commission-eligible participants in the last published year, came back as somewhere between $102 and $474.

Odds of profit

Three operators, five horizons

Probability of cumulative net profit

Hover any point for median, top decile and bottom quartile.

0% 25% 50% 75% 100%3 mo6 mo1 yr3 yr5 yr 38% 24% 21%
Discount buyer - joins for the 50% off, buys what she uses, ignores the planPart-time seller - 8 hrs/wk, warm market plus social, holds the 125 PV every monthTeam builder - 25+ hrs/wk, recruiting for the group-volume rate, packs and events

Discount buyer

joins for the 50% off, buys what she uses, ignores the plan

HorizonP(profit)Median
3 mo 46% +$20
6 mo 44% +$35
1 yr 42% +$60
3 yr 40% +$150
5 yr 38% +$230

Part-time seller

8 hrs/wk, warm market plus social, holds the 125 PV every month

HorizonP(profit)Median
3 mo 14% −$260
6 mo 17% −$470
1 yr 20% −$820
3 yr 23% −$1,900
5 yr 24% −$2,700

Team builder

25+ hrs/wk, recruiting for the group-volume rate, packs and events

HorizonP(profit)Median
3 mo 7% −$620
6 mo 11% −$1,150
1 yr 15% −$2,100
3 yr 19% −$4,800
5 yr 21% −$6,900

Methodology note. ANCHORED to Farmasi’s 2022 income disclosure: that 29.88% of commission-eligible distributors sat at the 0% level averaging $8.54 a month; that 59.08% sat at the 0% or 3% levels with annualised averages of $102.53 and $474.49; that 5.41% held any Director title and 0.76% reached Golden Director or above. Anchored also to the published cost side - $19.99 entry, no renewal, 125 PV a month at roughly $1 per PV wholesale, and the 50% participant discount. MODELED by us: every cost line beyond the qualification order, because Farmasi publishes no expense data and no shipping or event pricing; the proportion of each cohort in cumulative profit; and the cohort definitions, which Farmasi does not segment. The discount-buyer row is deliberately the only one that runs positive, and it is positive for a reason that has nothing to do with the compensation plan - it models someone treating the $19.99 as a membership fee for a 50% cosmetics discount and never chasing a qualification. That is the version of this business that works, and it is not a business. One further caution: because the underlying disclosure is four years old and the field has reportedly grown by more than half a million people since, these figures describe a cohort that may no longer resemble the current one in either direction.

Go-to-market

Where you are actually allowed to promote this

Platform policy reads, not verifications. Check every one before you spend a dollar - enforcement changes faster than the written policy does.

Channel
Status
Notes
A binding agreement with no advertising rules at all
THE STRUCTURAL GAP
The only publicly retrievable governing document is the Entrepreneur Application & Agreement. It contains no paid-advertising policy, no social-media policy, no income-claims policy, no marketplace policy, no trademark or keyword-bidding policy, and no definition of the 125 PV requirement that governs whether you get paid. A separate policies-and-procedures file at the expected path returns HTTP 403 and is linked nowhere on the site. You are agreeing to a business whose rules you cannot read.
Income and lifestyle claims
NO WRITTEN POLICY LOCATED
Notable given the self-regulatory finding: twenty unsupported earnings claims in DSSRC #208-2025, five of them on the company’s own website. Twelve came down, eight did not, and the company stopped responding. There is no published rule for a distributor to comply with even if they wanted to.
Amazon, eBay and other marketplaces
UNGOVERNED - AND ALREADY HAPPENING
Farmasi-branded product is openly listed by third-party sellers in both the skincare and makeup categories on the largest US marketplace. With a 50% participant discount and no visible enforcement, the predictable dynamic is distributors dumping unsold qualifying inventory below catalog - which undercuts every participant trying to retail at list.
Paid social advertising
UNRESTRICTED BY THE COMPANY, RESTRICTED BY THE PLATFORMS
No company rule was located, so the only limits are the platforms’ own business-opportunity and health-claim policies. That sounds like freedom; in practice it means the participant carries the entire compliance risk for content the company has not reviewed and has no stated position on.
Replicated personal store
ALLOWED, APPARENTLY FREE
No monthly fee for the personal store could be found in any source, against $10-$25 a month at most peers. Treat this as probable rather than certain: the absence of a fee is inferred from the absence of any mention, not affirmatively stated by the company.
Warm market, parties and one-to-one
ALLOWED - THE INTENDED CHANNEL
This is where the 50% margin can actually be earned, and where Farmasi’s genuinely competitive pricing is an asset rather than a talking point. Selling a $11.90 lipstick to someone who wanted a lipstick is the honest version of this business.
Recruiting other companies’ distributors
PROHIBITED FOR ONE YEAR AFTER YOU LEAVE
The agreement bars encouraging, soliciting or attempting to recruit any other Farmasi entrepreneur to compete, in force while active and for one calendar year after departure. Combined with total downline forfeiture on cancellation, leaving costs you the organization and a year of your address book.
Disputes
ARBITRATION, CLASS WAIVER, ONE-YEAR LIMIT
All claims relating to the company must be settled by arbitration under the Federal Arbitration Act, with an express class-action waiver and a requirement that claims be brought within one year of the conduct complained of - shorter than most state statutes of limitation would allow.
The evidence

Red flags and green flags

Red flags

15
1The commission rate on your own sale is set by your group size, not your sales
Farmasi’s Personal Bonus runs 3% to 25% and the variable is group volume. Two entrepreneurs make the same $100 sale to the same customer; one keeps $3 and the other keeps $25. The only lever that moves your rate is recruiting, which is precisely the structural feature the 1979 safeguards were written to catch.
2No income disclosure has been published since 2022
The most recent US statement covers 2022. The company reports growing 42% to $610 million and adding more than 500,000 people since. There is no published outcome data for essentially the entire current field, and the PDFs at the expected paths return HTTP 403.
3Roughly $1,500 a year of required purchasing against $102-$474 of average commission
125 PV a month at about $1 per PV wholesale, versus the annualised averages at the 0% and 3% bonus levels where 59.08% of commission-eligible distributors sat in the last published year. The gap is the central economic fact of this file.
429.88% of commission-eligible distributors earned an average of $8.54 a month
The 0% bonus level in the 2022 disclosure - $102.53 annualised. And that is measured among people who were already commission-eligible, which excludes everyone who never qualified at all.
5Only 5.41% held any Director title and 0.76% reached Golden Director or above
Farmasi’s own 2022 figures. Ninety-five in a hundred commission-eligible distributors never reached the first leadership rank.
6A $30 bonus for each new entrepreneur sponsored
A direct per-head payment for the act of enrolling someone, with no published requirement that the new entrant sell anything to a non-participant. Small in dollar terms; unambiguous in what it rewards.
7Twenty unsupported earnings claims, five on the company’s own website
DSSRC Case #208-2025, closed 2 April 2025. The challenged language included income bands running from $1,000 to $500,000 in bonuses and references to uncapped earning potential. Twelve items were removed; eight remained outstanding.
8The company went unresponsive to the self-regulatory follow-up
The case closed with eight claims outstanding and no FTC referral, but the process ended because the company stopped engaging rather than because the issues were resolved. Participation in these bodies is voluntary - which makes non-response the most informative part of the record.
9The 125 PV requirement appears nowhere in the binding agreement
The Entrepreneur Application & Agreement contains no personal-volume definition at all. The number that decides whether you are paid lives only in marketing collateral, which means it can move without amending anything you signed.
10No paid-ads, social, income-claim, marketplace or keyword policy could be located
The binding agreement contains none of them and the separate policies file returns HTTP 403 with no link from the site footer. A prospective participant cannot read the rules they will be held to.
11Total downline forfeiture on cancellation, plus a one-year non-solicit
The agreement states that on cancellation you permanently lose all rights as an entrepreneur and waive all rights, including property rights, to your former downline organization and the income associated with it.
12Buyback at 80%, not 90%, and excluding shipping
Product bought within twelve months in resalable condition is refunded at 80% of purchase price or equivalent product credit. Most state MLM buyback statutes contemplate 90%. The 20% haircut lands on exactly the inventory the qualification requirement created.
13Arbitration, class waiver and a one-year claim limit
All disputes must be settled by arbitration under the Federal Arbitration Act, with an express class-action waiver and a one-year contractual limitation period running from the conduct complained of.
14Related-party imports with no audited check
701 US bills of lading between February 2019 and January 2026 with Turkey as origin, 445 of them naming the family-owned Turkish manufacturer. The price at which goods cross that border sets both the US margin and the PV values participants must hit, and it is a family decision with no external audit.
15A TCPA suit filed in December 2024 with no located disposition
Guerra v. FARMASI US LLC, 1:24-cv-24693 in the Southern District of Florida. A private telephone-consumer-protection claim, not a regulator action, and no outcome could be found - but unresolved is not the same as resolved.

Green flags

8
1The cheapest genuine entry on this site, with no renewal fee
$19.99 once, sometimes $6 on promotion, against $99 to $1,700 elsewhere, and no annual renewal at all. Whatever else is true, Farmasi does not extract a large sum from someone at the moment they know least about the business.
2The products are priced like drugstore cosmetics, not like a compensation plan
$11.90 for a lipstick, $15.90 for a BB cream, $22.90 for a foundation. This is the single most distinguishing fact in the file: a customer who buys Farmasi is not paying a three-to-five-times premium to fund somebody’s override, which is close to unique among the cosmetics MLMs.
3A real factory and a 76-year manufacturing history
The Turkish parent has been manufacturing since 1950 and the company owns its production. 701 US customs entries since February 2019 confirm physical goods crossing a border at scale. This is a manufacturer that added a direct-selling channel, not a compensation plan that commissioned a supplier.
4Third-generation family ownership with a clean principal record
No prior collapsed venture, no serial-founder pattern, no regulator-shuttered company attached to any named principal. The CEO’s pre-Farmasi record is thin - a sales-manager role at a research firm - but thin and clean beats thick and litigated.
5A straight 50% participant discount
No tiered discount ladder to climb before the margin becomes workable. Anyone who actually resells at catalog keeps half, from the first order, which is a genuinely honest retail structure.
6No monthly website or tool fee could be found
The replicated personal store appears to be free, against $10-$25 a month at most peers. Over a year that is $120-$300 that does not come out of the participant’s pocket.
7A buyback exists and a retail satisfaction guarantee exists
Retail customers get a full refund within 30 days. Entrepreneurs get 80% back on resalable product purchased within twelve months. It is below the statutory norm, but it is written down and it is real.
8No regulator action anywhere in the file
No FTC complaint, no consent order, no state attorney general action, no pyramid finding and no criminal proceeding could be located against the US entity or the Turkish parent in any jurisdiction searched. For a company of this size that is a materially clean entity-level record.
What would move this grade

We would like to be wrong about this

Upward

  • A current US income disclosure covering 2025, published at a stable public URL, including the participants who earned nothing, with medians alongside averages and a stated expense line so a reader can compute net.
  • A published policies-and-procedures document covering paid advertising, social media, income claims, marketplace selling and keyword bidding - and visible enforcement against the third-party marketplace listings already undercutting honest retailers.
  • Decoupling the Personal Bonus percentage from group volume, so the rate earned on a personal sale reflects personal selling, plus a documented retail-sales requirement before group commissions pay.

Downward

  • Any FTC complaint, civil investigative demand, state attorney general action or consent order naming the US entity - the single largest available downgrade, and the file currently has none.
  • A second self-regulatory case with the same non-response pattern, or a referral to the FTC for failure to engage rather than an administrative closure.
  • Evidence that the reported 42% growth was driven by enrollment volume rather than customer volume - for instance a disclosure showing a falling ratio of customers to distributors, or a further year with no income disclosure at all.
The better trade

Grade is D+. The cheapest door and the fairest prices in the category, attached to a qualification that costs $1,500 a year and a disclosure that stopped in 2022.

Say the good part first, because it is unusual and it is load-bearing. Farmasi does not overcharge for its products. A lipstick is $11.90 and a foundation is $22.90 - drugstore money, not prestige money - and the participant discount is a flat 50% from the first order. Entry is $19.99 once with no renewal, which is the lowest cash barrier of anything graded here. Behind it is a Turkish factory that has been running since 1950, owned by the third generation of the same family, with no collapsed prior venture attached to any principal and no regulator action anywhere in the file. If you strip out the compensation plan entirely, what remains is a competent mass-market cosmetics company that a customer could reasonably prefer.

The plan is where it turns. Farmasi’s Personal Bonus - the rate you earn on your own sales - is set by group volume, not personal volume. The same sale to the same customer pays 3% or 25% depending on how many people sit beneath you. That is not a subtle recruiting tilt; it is the retail margin itself being made a function of downline size. Add $30 per sponsored entrepreneur and a rank ladder counted in breakaway legs up to thirty-plus, and the incentive is explicit. To be paid at all you must hold 125 PV a month, about $125 wholesale, roughly $1,500 a year. Against that, the last disclosure Farmasi published showed six in ten commission-eligible distributors averaging between $102.53 and $474.49 for the year, and three in ten averaging $8.54 a month.

What pushes this below the middle band is not any single number but the combination of that arithmetic with an information vacuum. The last income disclosure covers 2022; the company says it has added more than 500,000 people since. The binding agreement contains no advertising, social, income-claim, marketplace or keyword policy, and the separate policies document returns a 403. The 125 PV requirement that governs whether you get paid is not in the contract at all. And when a self-regulatory body challenged twenty earnings claims - five of them on Farmasi’s own site - twelve came down, eight did not, and the company stopped replying. A prospective participant is being asked to commit $1,500 a year against outcome data that predates most of the current field, under rules they cannot read.

1

Buy the discount, skip the qualification

The $19.99 is arguably worth it as a membership fee for 50% off cosmetics you already buy, and there is no renewal to trap you. What is not worth it is the 125 PV a month. Hold the account at the rolling three-month minimum, buy what you actually use, and never let a monthly number decide your order.

2

Ask for the 2025 income disclosure in writing before you enrol

Not the 2022 one. If the current figures are good, they cost nothing to send. If nobody can produce them, you have learned the most important thing about the offer - and you have learned it for free.

3

Price the group-volume rate honestly against your own effort

Work out what you would actually earn on the sales you can realistically make at your starting Personal Bonus percentage, not at the rate on the slide. If the answer only works at 18% or 25%, then the business you are being sold is a recruiting business wearing a cosmetics label, and you should decide on that basis.

4

Sell the compliance the company has not written

There is no published advertising, social-media, income-claim or marketplace policy, and a self-regulatory body has already found unsupported earnings claims on the corporate site itself. Claim-safe copy, disclosure templates and marketplace-monitoring services are a merchant business aimed at a documented, operator-created gap - and they do not require you to hold 125 PV a month.

The same $100 sale to the same customer pays $3 or $25 - and the only variable is how many people are underneath you.
Scorecard

Nine dimensions, weighted

Comp structure & KoscotDoes the plan pay for recruitment or for sales to real customers?
20%
3.0
The Personal Bonus percentage - the rate paid on your own personal sales - is set by your group volume, not your personal volume. The identical sale earns 3% if your organization is small and 25% if it is large, which means the fastest way to raise the margin on your own retailing is to recruit rather than to retail. On top of that sits a $30 bonus for each new entrepreneur you sponsor, and a rank ladder defined in breakaway legs running from one to thirty-plus. There is no published requirement that any volume reach a non-participant.
Securities exposureAny passive return on capital? Howey, staking, tokens, withdrawal friction.
15%
9.0
No token, no staking, no passive-return component, no investment framing and no securities-regulator involvement in any jurisdiction. Revenue is the sale of manufactured cosmetics. The only faint gesture toward lottery framing is the rank-bonus ladder advertised in bands up to $500,000.
Ownership & track recordWho runs it, what did they run before, and what happened to it.
15%
7.0
A third-generation family manufacturer with a real Istanbul factory, a 76-year operating history and no prior collapsed venture attached to any principal. Marked down for the absence of audited accounts, the related-party import chain in which the same family sits on both sides of the transaction, no independent board, no named US compliance officer and no US DSA membership.
Product reality & demandWould a rational buyer purchase this if no income offer existed?
12%
7.0
Genuinely mass-market pricing on genuinely manufactured goods: lipstick at $11.90, BB cream at $15.90, foundation at $22.90. These are drugstore price points, not the 3x-to-5x premiums typical of the category, and a rational buyer plausibly purchases them with no income offer attached. The reservation is that no company data shows what share of volume reaches an end customer rather than a participant.
Participant economicsReal cost in, realistic money out, and whether they publish the numbers.
10%
2.0
Roughly $1,500 a year of required purchasing to be commission-qualified, against annualised average commissions of $102.53 and $474.49 at the two bonus levels where 59.08% of commission-eligible US distributors sat. And the disclosure showing that is four years old - nothing has been published for 2023, 2024 or 2025, the exact period in which the company says it added more than 500,000 people.
Price-to-valueWhat the same capability costs on the open market.
8%
6.0
The 50% participant discount is real and the underlying prices are honest - this is the strongest price-to-value position of any MLM cosmetics line reviewed here. What erodes it is uncontrolled marketplace leakage: Farmasi-branded stock is openly listed by third-party sellers on Amazon, and the binding agreement contains no marketplace policy at all, so the honest retailer is undercut by the person liquidating unsold qualifying inventory.
Payout sustainabilityCan the company fund the plan out of margin, or only out of inflow?
8%
4.0
Commissions are funded from manufacturing margin at a business with a real factory, which is structurally sound. Against that: an estimated 40% of revenue going to commissions, growth of 42% delivered alongside 500,000 new enrollments in a single year - which makes payout inflow-correlated rather than customer-correlated - and transfer pricing between the US importer and the Turkish parent set inside one family with no audited check.
Marketing conductIncome claims, regulator run-ins, hype, deadline stacking.
7%
3.0
DSSRC Case #208-2025, closed 2 April 2025, identified twenty unsupported earnings claims, five of them on Farmasi’s own website rather than a distributor’s. Twelve were removed; eight were not, and the company went unresponsive to follow-up. The self-regulatory body closed the file without an FTC referral, but an operator that stops answering a voluntary process is telling you how it will handle the next one.
Operator terms & exitWho owns the customer, what you forfeit, how hard it is to leave.
5%
3.0
Total forfeiture of the downline and all associated income on cancellation, a one-year post-termination non-solicit, mandatory arbitration with an express class-action waiver and a one-year contractual limitation period, and a buyback at 80% excluding shipping rather than the 90% most state statutes contemplate. The credit is that entry is $19.99 with no renewal, so there is very little sunk cash to walk away from.
Weighted composite
5.20
D+

Dimension profile

Further from center is better. Hover any point.

Comp structure& Koscot 3.0 Securitiesexposure 9.0 Ownership &track record 7.0 Product reality& demand 7.0 Participanteconomics 2.0 Price-to-value 6.0 Payoutsustainability 4.0 Marketingconduct 3.0 Operator terms& exit 3.0

Hard caps that bind here

Cap at C+ there is no current income disclosure. The most recent US statement covers 2022. In the three years since, the company reports growing 42% to $610 million and adding more than half a million participants - so the outcome data for essentially the entire present-day field does not exist in published form. A file cannot reach the middle band on four-year-old numbers, however good they were. The weighted score already sits below this ceiling; the cap describes how good this report could get, not why it is a D+.
Cap at C the Personal Bonus percentage is a group-volume differential. The rate you earn on your own sale is decided by how many people are underneath you, which means the plan pays more for recruiting than for retailing at the level of the individual transaction. That is the structural feature the 1979 safeguards were written to catch, and it is not offset by any published requirement that volume reach a non-participant.

The lowest binding cap wins, regardless of the weighted arithmetic.

Sources consulted

What we read

Every source below links to the document itself. Tier 1 is a primary record - the company’s own plan, policy or disclosure, a court filing, a regulator’s decision or an SEC filing. Tier 2 is a self-regulatory or secondary regulator record, tier 3 reporting or academic work, tier 4 an open-market price comparison. Where a document can be moved or withdrawn, an archived copy is linked beside it. If a link is dead when you try it, that is a correction we want.

  1. Farmasi Entrepreneur Application & Agreement (PDF) - one-year renewable term, 1099-MISC independent contractor status, 80% buyback excluding shipping
    Policies & proceduresTier 1FARMASI US LLCarchived copy

    Farmasi Entrepreneur Application & Agreement (content.farmasius.com) - term, 1099-MISC status, one-year non-solicit, downline forfeiture on cancellation, 80% buyback excluding shipping, arbitration with class waiver and one-year claim limit

  2. Farmasi Terms of Use (PDF)
    Policies & proceduresTier 1FARMASI US LLCarchived copy
  3. Farmasi Subscription Program Terms and Conditions (PDF) - consultant 50% discount and preferred-customer definitions
    Policies & proceduresTier 1FARMASI US LLCarchived copy
  4. Farmasi Income Statement Disclosure - 0% level 29.88% averaging $8.54/month ($102.53 annualised), 3% level 29.20% averaging $474.49 annualised, Golden Director 0.49% and Platinum Director 0.27%
    Income disclosureTier 2FARMASI US LLC · 2022archived copy

    Farmasi US Income Disclosure Statement covering 2022 - 0% level 29.88% averaging $8.54/month, 0% and 3% levels 59.08% averaging $102.53 and $474.49 annualised, 5.41% at any Director title, 0.76% Golden Director or above

    Not established by this document: DEAD LINK at the company, confirmed 10 September 2026: 404, and no Wayback capture. The 2022 figures quoted in this entry are NOT lost - they survive in the Sequence Inc. archived copy of the same company PDF cited immediately below, which is live and is now held at docs/archive/farmasi/2026-09-10-farmasi-income-statement-disclosure-2022-archived-copy-of-th.pdf. Dropped from tier 1 verified to tier 2 listed because the primary company-hosted copy no longer exists, so the figures now rest on a third-party archive rather than on the company's own published page. Note also that Farmasi has since published a 2023 disclosure at a different path, which this report cites separately and which is also held.

  5. Farmasi Income Statement Disclosure 2022 (archived copy of the company PDF)
    Archived copyTier 3Sequence Inc. / Fraud Files Blog (archive of FARMASI US LLC document) · 2022archived copy
  6. Farmasi Income Statement Disclosure covering 1 January – 31 December 2023 (current US version cited by the FTC)
    Income disclosureTier 1FARMASI US LLC · 2023archived copy
  7. FTC v. Wellington - complaint for permanent injunction, ¶¶28–29 analyzing the Farmasi Income Statement Disclosure for 2023 (fewer than 1% of active participants earned six figures) (PDF)
    RegulatorTier 1Federal Trade Commissionarchived copy
  8. DSSRC Case #208-2025: Monitoring Inquiry - FARMASI, closed 2 April 2025 (twenty earnings claims, twelve removed, eight outstanding, no Company Statement provided, no government referral)
    Self-regulatoryTier 2BBB National Programs - Direct Selling Self-Regulatory Council · 2025-04-02archived copy

    BBB National Programs, DSSRC Case #208-2025, closed 2 April 2025 - twenty unsupported earnings claims, five on the company website, twelve removed, eight outstanding, company unresponsive to follow-up, no FTC referral

  9. "Direct Selling Self-Regulatory Council Recommends FARMASI Modify or Discontinue Certain Earnings Claims" - DSSRC press release, 7 May 2025
    Self-regulatoryTier 2BBB National Programs - Direct Selling Self-Regulatory Council · 2025-05-07archived copy
  10. DSSRC Case #208-2025 full decision text (archived PDF copy)
    Archived copyTier 3Truth in Advertising, Inc. (archive of BBB National Programs decision) · 2025-04-02archived copy
  11. "Farmasi projects $800M revenue in 2026 as global sales surpass $600M and company rises to #11 on DSN Global 100" - company release, 21 May 2026
    ReportingTier 3FARMASI (via PR Newswire) · 2026-05-21archived copy

    Direct Selling News 2026 Global 100 and company statements - $610m 2025 global revenue, +42% on $429m, rank #11 up from #27, more than 500,000 new entrepreneurs added

  12. 2026 DSN Global 100 (product-focused companies) - Farmasi, Turkey, ranked #11 at $610 million 2025 revenue
    ReportingTier 3Business For Home (reporting Direct Selling News Global 100) · 2026-04-21archived copy
  13. DSN Global 100 Lists - methodology (net direct-selling revenue before commissions, self-certified by the company)
    ReportingTier 3Direct Selling Newsarchived copy
  14. Direct Selling News Global Celebration 2026 - full Global 100 ranking table
    ReportingTier 3Epixel Solutions (reporting Direct Selling News Global 100) · 2026-05-07archived copy
  15. FARMASI US LLC US import activity - 823 bills of lading between 4 February 2019 and 24 July 2026, TAN-ALIZE KOZMETIK VE TEMIZLIK URUN as leading shipper
    Open-market comparisonTier 3ImportInfo (US Customs bill-of-lading data)archived copy

    US import records, February 2019 - January 2026 - 701 bills of lading with Turkey as origin, 445 naming Tan-Alize Kozmetik ve Temizlik Ürünleri San. ve Tic. A.Ş.

  16. Farmasi US LLC importer history - shipments from Tan-Alize Kozmetik ve Tem. Ur. San., Turkey
    Open-market comparisonTier 3ImportGenius (US Customs bill-of-lading data)archived copy
  17. FDA Warning Letter to Tan Alize Kozmetik Ve Temizlik Urunleri San. ve Tic. A.S., Istanbul (FEI 3004135088), 3 August 2023 - CGMP violations, firm placed on Import Alert 66-40 on 23 June 2023
    RegulatorTier 1U.S. Food and Drug Administration · 2023-08-03archived copy
  18. Farmasi US - company shop, catalog and enrollment entry points
    Company documentTier 1FARMASI US LLCarchived copy

    Farmasi US catalog pricing and enrollment pages - $19.99 entry, $49/$125/$200 enrollment packs, 50% participant discount, catalog prices for lipstick, BB cream and foundation

    Not established by this document: The $19.99 entry price and the $49/$125/$200 enrollment pack tiers sit behind the registration flow at farmasius.com and are not on a statically retrievable page; the 50% participant discount is however stated in the Subscription Program Terms cited at index 0.

  19. Farmasi US - public storefront (farmasius.com)
    Company documentTier 1FARMASI US LLCarchived copy
  20. BBB Business Profile - Farmasi US LLC, Miami/Doral, Florida (not BBB accredited; file opened 24 October 2019)
    Self-regulatoryTier 2Better Business Bureau Serving Southeast Florida & the Caribbeanarchived copy

    BBB business profile for Farmasi US LLC (A+, not accredited, 26 complaints in three years); Guerra v. FARMASI US LLC, 1:24-cv-24693, S.D. Fla., filed December 2024; third-party marketplace listings of Farmasi-branded product

    Not established by this document: The BBB complaint tally (26 complaints in three years) sits on the /complaints subpage, which is protected by a Cloudflare challenge and could not be retrieved; third-party marketplace listings of Farmasi-branded product were not linked, as each is a single seller page of no evidentiary weight.

  21. Guerra v. FARMASI US LLC, No. 1:24-cv-24693 (S.D. Fla., filed 2 December 2024) - TCPA claim, Judge Beth Bloom (docket)
    Court recordTier 3U.S. District Court for the Southern District of Florida (via Justia Dockets) · 2024-12-02archived copy
  22. Florida Division of Corporations filing record - FARMASI US LLC, document L18000239363, filed 17 October 2018, managers Emre Tuna and Sinan Tuna
    Corporate registryTier 1Florida Department of State, Division of Corporations · 2018-10-17archived copy
  23. Ferraro v. Rodgers et al., No. 7:24-cv-833-FL (E.D.N.C.) - order of 2 May 2025 dismissing FARMASI US, LLC for lack of personal jurisdiction (PDF)
    Court recordTier 3U.S. District Court for the Eastern District of North Carolina (via PacerMonitor) · 2025-05-02archived copy
Unable to verify

What we could not get

  • Any US income disclosure for 2023, 2024 or 2025 - every PDF at the expected content.farmasius.com paths returns HTTP 403
  • The official compensation-plan document and any policies-and-procedures manual - both return 403 and neither is linked from the US site
  • The retail customer count, the customer-to-distributor ratio and the share of volume reaching non-participants - the decisive Koscot number, and it is simply absent
  • US-only revenue and the current US distributor count - the widely repeated 500,000 figure dates to March 2021
  • Audited financial statements for either the US or Turkish entity, and the Turkish shareholding chain
  • Shipping costs, event ticket pricing, sample and catalog costs, and whether the replicated store is genuinely free - the absence of a fee is inferred, not stated
  • The disposition of Guerra v. FARMASI US LLC, 1:24-cv-24693 (S.D. Fla.)
  • Whether any FTC, state attorney general, FDA, EU RAPEX or Turkish regulatory action exists - all searches returned nothing, which is an absence of evidence rather than evidence of absence

Not advice

This is independent analysis for decision-making, not legal, financial or investment advice. Allegations reported by third parties should be verified against primary court and regulatory records before any decision.

Who writes this

Researched by Claude. Reviewed by an editor.

Every report is researched and written by Claude, Anthropic’s AI assistant, from the company’s own plan documents, policies, terms and regulatory file - then reviewed before publication by Rob Fore, who checks the sources and the stage-label on every allegation.

  • Nine weighted dimensions, published with their weights
  • The editor checks the evidence and cannot change the number - the build rejects any page whose grade does not reconcile to its own arithmetic
  • Every affiliate position we hold is disclosed on the report it touches
  • No company has paid for a grade, and no report carries an affiliate link
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Common questions

Farmasi - frequently asked

QIs Farmasi a pyramid scheme?
No court or regulator has found it to be one, and no FTC action, state attorney general action, consent order or criminal proceeding against the US entity could be located. There is a real Turkish factory behind the products, dating to 1950, and the goods are priced at genuine drugstore levels rather than at a premium designed to fund commissions. The structural criticism is narrower and specific: the Personal Bonus percentage you earn on your own personal sales is set by your group volume rather than your personal volume, running from 3% to 25%. The identical sale to the identical customer pays $3 or $25 depending only on how many people are beneath you - which makes recruiting, not selling, the cheapest way to improve your own retail economics. There is also a $30 bonus for each newly sponsored entrepreneur and no published requirement that any volume reach a non-participant.
QHow much does it really cost to join Farmasi?
The advertised number is $19.99 once, with no annual renewal, and that number is true. The real cost sits downstream. To be commission-qualified in any given month you need 125 PV of personal volume, which is roughly $125 of wholesale purchasing or about $250 at catalog value - call it $1,500 a year. A lower bar of 125 PV per rolling three months, about $42 a month equivalent, keeps the account open but does not make you eligible to be paid on anyone else’s activity. Optional enrollment packs at $49, $125 and $200 are available only in the sign-up window, which manufactures urgency at the moment a new recruit knows least. Shipping, samples and event costs are not published anywhere.
QHow much do Farmasi distributors actually earn?
The only published US figures cover 2022, and Farmasi has not issued a disclosure for 2023, 2024 or 2025. In that document, 29.88% of commission-eligible distributors sat at the 0% bonus level with an average of $8.54 a month - $102.53 annualised. Taken together, 59.08% sat at the 0% or 3% levels with annualised averages of $102.53 and $474.49. Only 5.41% held any Director title and 0.76% reached Golden Director or above. All of that is measured among people who were already commission-eligible, so it excludes anyone who never qualified at all. Set against roughly $1,500 a year of required purchasing, the arithmetic is negative for the large majority.
QAre Farmasi products actually good value?
This is the strongest part of the file. Catalog prices are $11.90 for a matte lipstick, $15.90 for a BB cream and $22.90 for a liquid foundation - mass-market drugstore pricing rather than the three-to-five-times premiums common in this category - and the participant discount is a flat 50% from the first order. The products are manufactured in-house in Türkiye by a company that has been making them since 1950. The complication is not the price of the product; it is that Farmasi-branded stock is openly listed by third-party sellers on the large marketplaces and the binding agreement contains no marketplace policy at all, so anyone trying to retail at catalog is being undercut by people liquidating unsold qualifying inventory.
QHas Farmasi been sanctioned by any regulator?
Stage-labeling matters. No FTC action, no consent order, no state attorney general action, no pyramid finding and no criminal proceeding could be located against the US entity or the Turkish parent in any jurisdiction searched. What does exist is a self-regulatory case: DSSRC Case #208-2025, closed on 2 April 2025, identified twenty unsupported earnings claims, five of them on Farmasi’s own website. Twelve were removed and eight were not, and the company went unresponsive to the follow-up. The case closed without a referral to the FTC. A self-regulatory inquiry is not an enforcement action and carries no penalty - but participation is voluntary, which makes a decision to stop answering the most informative fact in the record.
Who wrote this report

Author, editor and publisher

C
Written by Claude AI
Reviewed by Rob Fore · Published by Listech Inc · July 28, 2026

This report was researched and written by Claude, Anthropic’s AI assistant, working from primary documents - Farmasi’s own compensation plan, its policies and procedures, its terms of service, its income disclosure statement where one exists, and its regulatory and self-regulatory file. It was scored against nine weighted dimensions that are published in full, with their weights, on the methodology page.

Before publication it was reviewed by Rob Fore, who checks every source link, every figure against the document it came from, and every allegation against its stage-label - an investigation is not a finding, a warning letter is not an enforcement action, and a filed claim is not a verdict.

The editor does not set the grade. The published score is the weighted composite of the nine dimension scores, and the build refuses to emit a page where the two disagree by more than 0.06. A grade moves when the evidence moves it and not otherwise.

Rob Fore has marketed online since 1996, wrote Online MLM Marketing (2014), and is CEO of Listech Inc, the Nevada corporation that publishes this site. He holds affiliate positions in companies graded here - including LiveGood, which this site grades D, SendOutCards, which it grades C−, and the Home Business Academy, which it grades B−. Those positions are disclosed on the reports they touch, and changed nothing on this page.

About the author and our conflicts  ·  Contact the editor  ·  Corrections: corrections@opportunitygrade.com

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