| Comment Number: | 522418-05087 |
| Received: | 6/29/2006 4:16:33 PM |
| Organization: | Quixtar |
| Commenter: | Tekye Evans |
| State: | MD |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I partially agree with the proposal. I agree with the fact that regulations should be in place to protect the prospect’s best interest. I do not agree with the seven day waiting period. Personally, if I were looking at an opportunity, waiting seven days is an insult to me. That suggests that I'm incapable of making an informed decision. I really don't see the benefit of waiting seven days to start a business. We are dealing with $100- $200, not $5,000-$10,000. I do not agree with the 10 References. That could be extremely harmful to a person starting out. I may not know ten quality people or I may have ten unwilling people that may say bad things just to land that prospect from themselves. The prospect is dealing with me, not the other ten references. If one of them does something wrong, why punish me. I do not agree with Listing all Legal allegations, when people interview for a job. They don't expect that company to list their legal allegations. I'm in no way suggesting that we should hide anything. We have the Better Business Bureau for that reason, which I do send my prospect to www.bbb.com. I do not agree with disclosing Financial Records, again, when that prospect is interviewing for a job, they don't disclose that information. It would be unfair to me. Should I in turn ask the prospect to disclose their financial records? We supply literature that has been approved by the FTC. I'm happy that the FTC is taking an active role with Business Opportunity. I think it will lessen the Pyramid Schemes that hinder my income potential. I do think that some of the rules are too strict. This is a Business Opportunity and with an opportunity you have risk. If we were asking prospects to spend $10,000 then yes maybe we should take some of those rules into count. If the only risk is $200, which most people will blow on nonsense, the proposal is somewhat “overkill”. I do not see how these rules will help my business. I think the rules, well meaning, would hurt my business. I would suggest that these rules apply only Business Opportunity of $10,000 or more. Respectfully, Tekye Evans