| Comment Number: | 522418-05562 |
| Received: | 7/2/2006 1:26:24 AM |
| Organization: | Quixtar |
| Commenter: | Joe Ledbetter |
| State: | NC |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
To whom it may concern: I'm writing in response to 16 CFR Part 437. I have been affiliated with Quixtar since 1992. I have a computer science degree from UNC-A and currently work as a pharmaceutical representative. I'm currently married with two kids and my wife stays at home to raise them because of our business income. Our experience with the business has been great. Everytime I present the plan, I state that it costs around $175 with a money back guarantee, that this business isn't for everyone, it isn't "get rich quick", that it requires work, and comes with a money back guarantee. I think the general idea behind what is proposed is good. However, it think that it has some flaws in it's design. First, I think that a 7-day waiting period would be a good idea for businesses that cost $500 or more and especially for businesses that don't offer a money back guarantee (like ours does). When someone gets registered in our business, they step through a process that states what it costs, there are also several places where it states that the average monthly income for a business owner. We have had several business owners that have decided not to persue this business and they have been able to get their money back, no questions asked. Second, giving a list of references of local business owners. I can't see how this is beneficial. I'm sure I would be someone listed on the reference sheet for a lot of business owners. This would increase my work load substantially, not to say anything about invading my privacy Third, giving a list of all lawsuits for the past 10 years. This is unfair to a business like ours. Other start ups aren't going to have any lawsuits against them because they are "new" and the start ups are the ones that have the potential to cause problems. Also, in today's world, anyone can sue someone else without just cause. Fourth, making a disclosure for every income claim. In our business there are endless examples of how money is created. The solution is to create a standardized, easy to understand disclosure that states average monthly income. Fifth, providing personal financial documents to backup or substantiate any income claims. I believe that income levels should be stated for each level. I think stating personal information is too personal. At my job, I don't know what my coworkers make, and if I ask, I can lose my job. I think the solution is to state, that if a business is a certain size, you can expect to earn a certain amount. I appreciate your efforts to crack down on businesses that pray on the hopes of others. However, I think the rules can be written in a way to offer and help legimate business and slow down or stop others. Quixtar is not the cause of these rules being written but, they will significantly slow down our growth. Please consider rewritting the rules.