| Comment Number: | 522418-04705 |
| Received: | 6/28/2006 12:44:41 AM |
| Organization: | Eagles Flight |
| Commenter: | Mike Maxfield |
| State: | AZ |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
My wife and I have been independent business owners in the Quixtar business since 1999, and plan to build a retirement income with the business. Prior to 1999, we were wholesale users, and through use and association, have found the products and services offered to be of great benefit. When we were sponsored into Quixtar, we understood that our goals would require hard work, that it is not a "get rich quick" business, and we teach that concept to our prospects for the business. We have realized enough profit to more than pay for our registration and renewal fees, and plan to continue to expand, following the excellent guidelines provided by the Worldwide group, our trainers in the business. Our mentoring organization has outlined a registration and training procedure that allows the new independent business owner to be profitable in their first month of business, and the seven-day waiting period could prevent the new business owners from making a profit in their first month of business. It is our experience, having been involved with other direct marketing companies, that facts, figures and references can be manipulated to fit any given situation, making it difficult to distinguish whether it is a reputable company or not. In our opinion, a reasonable time period should be given to allow the individuals to work with the business program, and be able to cancel their registration and receive a refund if they decide not to participate. In regards to the disclure document requiring a list of all litigation involving the seller, its key personnel and its representatives that deal with misrepresentation, fraud, securities law violations, etc. the proposal is unclear as to what a seller is. We are not aware of the businesses of other independent business owners, and have no right to be, because of the current privacy laws, let alone cases filed with no merit. So we could not possibly provide an accurate and complete list of litigation. We are also concerned with the requirement for financal substantiation. We have been business owners for many years in the plumbing industry and restaurant ownership, and never have been required to financially substantiate our income to do business with customers or investors. We feel this would violate our privacy to disclose this information. If we share any financial information with propects, such as a bonus received, we provide visual proof of the amounts received. Thank you for considering our comments in your decisions.