Comment Number: 522418-05462
Received: 7/1/2006 12:21:10 PM
Organization:
Commenter: Robert Bain
State: IA
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

First off, I applaud the FTC with making a real attempt at stopping fradulant opportunities from appearing in the market place and disrupting the flow of real business. I feel this ia a neccesary step in ensuring that all those who want to participate in the free-enterprise system are able to without worry. That being said, I feel that some of the requirements of this new rule are perhaps too strict and would actually inhibit the prospective business owner or distributor from either starting a business or achieving the success that they are aiming for. I have been a Quixtar IBO for almost 3 years now, and my wife are I have never been more excited about our lives or our future. The income and income potential that our business offers thus far has been tremendous, to the point that my wife no longer works a typical job and can stay at home with our 2 young children. We meet many young people in our same or similar situation who are excited about the opportunity as well, and have seen many take off with the idea from the day they see the business plan. I feel some of the restrictions such as placing a waiting period or submitting a list of references would actually slow down the growth and income of these new IBO's because of the concern it may draw up. Most people who have joined our team have normally spoken with individuals in or outside the opportunity and have decided to join of their own accord. Providing substantiation for income is of course done through the IBO plan that is shown to every prospect through a series of steps that our team has developed. When my wife and I registered in Dec 2003, we we given literature, CD's, and introduced to multiple individuals and given various experiences about the opportunity, the 100% refund if chose to no longer pursue the opportunity. We felt very comfortable with our decision from our first day in business. After registration(which I believe was about 180.00 with our product pack), we began to build our business team from the start. We never felt it neccesary to provide financial records to any prospects other than a verbal statement of our income because we felt that is was personal and private. Like many businesses, we felt that our income may be more than an average IBO would make, and never wanted to mislead a prospect or IBO. In conclusion, I would like to say this about the business team that we joined when we became a part of the Quixtar opportunity. The team which we are a part of has taught us many things, from business and personal ethics, to giving us examples of happy and productive marriages, to even providing us with the tools neccesary to build our business such as personal development books and tapes, seminars, and 1 on 1 mentorship that has made our business work and made our marriage and lives better. The business team has become a part of our lives and is actively involved with almost everything we do. Were it not for our involvement with this team, my wife and I would never have gotten married, and our lives would not be what they are today. I feel that some of the restrictions being proposed would hinder these kinds of relationships from being fostered and developed because of concerns over the "scams" of the past. A prospect should be allowed to start or stop their own business at their discretion, and should be allowed to do their research on their own time, not in a time dictated by another 3rd party.