Comment Number: 522418-04799
Received: 6/28/2006 12:51:01 PM
Organization:
Commenter: C Cosby
State: VA
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

I am submitting my comments as a concerned IBO in reference to the proposal rulemaking fo business opportunities. I believe in free enterprise, the unalienable right of any individual to create opportunity for themselves and family, and do agree that certain laws/statues are necessary to preserve this equal opportunity for all people, but the proposals submitted to curb business opportunities would hurt the individual at the core of this great system. For the last 12 months I have pursued the IBO business opportunity with much success, with much credit to the support system of other IBO's and physical tools to aid in sponsoring. Prospects that I talk to understand that we are not a get-rich-quick opportunity. This disclosure is necessary to funnel out people who are looking for the "quick buck". For those who decide to register the cost is less than $200, all of wich is refundable within the first 6 monts of business. I recommend anyone who wants to start their own business should strongly consider the IBO opportunity in part because of the low cost. Compared to starting a McDonald's it is quite a bargain. The proposals included in the FTC recommendation would only serve to hurt honest business owners. By requiring IBO's to obtain reference lists would be a violation of personal privacy. I would not want a prospect calling me when they have their own sponsor and upline as references. I am against the waiting period because it provides no explainable benefit to the prospect. If he/she wants to participate in the free enterprise system, he/she should be have that right without having to wait 7 days. There is also the-trickle-down-theory to consider; if you require all prospects to wait 7 days, it would lengthen the time before a business owner becomes profitable. Currently we share income potential and average monthly gross income with new prospects. I believe this is necessary and proper information for a prospect so they can make a decision about the business. I do not believe in the additional proposal for financial disclosure because it requires IBO's to present private information (i.e., bank account numbers, deeds, trusts, etc.). I am currently single. This business has been a blessing from day 1. Currently, I am continuing to work a corporate job, but with the mentoring system and business opportunity in place I will be able to go places that a corporate job would not provide. Respectfully Submitted, C Cosby