| Comment Number: | 522418-05510 |
| Received: | 7/1/2006 6:08:17 PM |
| Organization: | Hoch Enterprises |
| Commenter: | James Hoch |
| State: | PA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
These proposed regulations will destroy the Quixtar business model. The affects these regulations will have are numerous. I've been an IBO since 1993. We are taught and instructed to fully disclose any and all questions a prospect has during the presentation and/or follow-up. This includes all associated expenses and fees required to operate this business. I received a lot of information prior to registering and I provide as much info as possible to allow the prospect to make a quality decision to be part of this great business. My prospects fully understand this is not a 'get rich quick ' business. I explain the hard work involved and the 'no guarantee' aspect as well. When people register, they ARE in business. They want to make money ASAP. When people register, they are excited and want to start their business right away. They want to tell their family, friends and aquaintances about this exciting enterprise they started and the help and mentoring they receive is new to most people. The 7 day waiting period will destroy all of the excitement and this will destroy the business model. If I had to tell people I couldn't help them build their business for 7 days they would not register at all. I schedule presentations and follow-ups to allow new people the opportunity to start their businesses as fast, or slow, as THEY want. I schedule my meetings to allow a fast start and to build momentum as quickly as possible. This fast start approach is the key that is necessary to build momentum. If the fast start approach is removed (7 day wait) people will not register at all. The 7 day waiting period is not in effect for other businesses so why is it necessary with this business? I receive most of my referrals through references. I do not provide references to others because others have provided a referral and I disclose that referral to prospects when I contact them. We meet, talk a while on numerous topics and the conversation usually turns to a business topic. That is when I present this business to them. At the end of the presentation, I show the prospect a SA-4400. This document is IRS and FTC reviewed and approved yearly. This, and other info, is left with the prospect and reviewed in the privacy of their home. The information is returned to me, approx. 48 hours later, and the prospect reveils their intent to start or not to start their business. I do not disclose how much money I make in my business. I do relate the positive impact this business has on my finances and my lifestyle. In my opinion, it would be totally inappropriate for me to show or disclose any and all financial records to any prosprct. I do not have to reveal any records associated with my current employment with anyone except for tax purposes. The same applies to this business. I TELL NO ONE, except the IRS, any figures or records associated with my business. Please do not allow these new regulations to take place. This business is the best opportunity available. Please don't destroy it. Thank-you for allowing me the opportunity to voice my concerns. Sincerely, Jim Hoch