| Comment Number: | 522418-11531 |
| Received: | 7/17/2006 12:56:43 PM |
| Organization: | |
| Commenter: | Jaypal |
| State: | NJ |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Dear Sir(s), We (me and my wife) have been an IBO (Independent Business Owner) in the Quixtar opportunity for the past 2 years. The business is proving to be more than what we expected it to be. My wife used to work earlier but when we had our first baby last year, she wanted to quit her job and take care of our baby herself. Thankfully, through the Quixtar business we have been able to replace a substantial percentage of her income and we no longer miss her job income. This business has been the best for me because I can do this on my spare time without quiting my full-time job and I feel proud because I can give others the same opportunity. Also, associating with the people in this business who have very high standards of character and integrity has rubbed off on me as well. If not for the additional income, I would any day do this business just to associate with poeople who have such high standards of living and who are a source of inspiration for others to emulate. When we had gotten started in the business, we had received all the information which helped us to make a quality decision of deciding to start our own business powered by Quixtar. And when we sponsor anybody, we lay down the facts and fgures before them. We let them know that this is not a "get rich quick" scheme but they have to put in their hard work to succeed in the business. Our prospects have to invest about $250 to get started in the business. If they decide that this business is not for them, they have a time period of 6 months within which they can get every penny back. I would now like to address some issues related to the proposed FTC rule. 1) 7-Day waiting period for registration as an IBO. I feel there is no need for such a rule especially for a business like Quixtar where the prospects can get 100% of their money if they decide (within 6 months) not to pursue this business. Having a 7-day wait period slows down the entire business and even affects new IBOs who have to wait for 7-days to register their friends and family. 2) The requirement to provide references to prospects. This rule surely would encroach into the privacy of the IBOs. Personnally, I wouldn't want prospects of other IBOs calling me to ask about their prospective sponsors. In today's life, everyone has a shortage of time and we have enough things to deal within our family and on the business front. I wouldn't want to add one more item on my plate and start getting calls from prospects of other IBOs. And I am sure, other IBOs would feel the same way. If the reason for this rule is that the prospect should be able to talk to enough IBOs to get a picture of the business before actually getting involved, I think that's already happening with the team I work with. None of the IBO's that we have sponsored, have started the bsuiness without meeting a dozen other IBOs whom they get a chance to meet at our different meetings before getting started in the business. 3) Requirement to provide a "Litigation List". Among other problems, I feel this would open up Quixtar and other legitimate companies to false accusations whereas dishonest companies would simply ignore this rule. 4) Requirement for Specific Earnings Disclosures. I believe showing the prospect "The average monthly income for active IBOs" serves the purpose already. 5) Requirement for Finacial Substantiation. I feel just because we make a certain amount of monthly income from the Quixtar business, does not necessarily mean the prospect will also make the same, more or less income. It all depends if the prospects, after becoming IBOs, put in the required effort for making the income that they want to make for their family. Personally, I would be uncomfartable in providing my financial records to the prospects as it does not necessarily mean theny will make the same income. In closing, I would request the FTC not to impose the above mentioned rules as it would hamper the very spirit of free enterprise.