| Comment Number: | 522418-05776 |
| Received: | 7/3/2006 2:16:44 PM |
| Organization: | Quixtar |
| Commenter: | sridhar mallu |
| State: | VA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Dear Sir, I have been registered with Quixtar Business for the last two years. I have found that it is a wonderful free enterprise system, that has ever existed on the face of earth.When i got in the business i was very clearly told that its not a "get rich quick" scheme and i was given enough information. Having a seven day waiting period to register clients would be a huge loss in our profitability.This being an extremely competitive business, can result in loss of a business owners prospects due to a seven day waiting period. Since this business involves people registering people, seven day waiting period for each prospect is a huge pain, as a business owner. The proposed requirement to Provide References in the business model in which we operate is a huge risk. This will result in a potential loss of our prospects to the reference that we provide.Moreover, this would violate the privacy of the business owners.However, we do have associations where the prospects get to meet the business owners that we work with. The proposed requirement to provide ligitations in the past 10 years is absolutely ridiculous. This would also not be limited to cases found against the seller but even filed cases with no merit.And what does a seller mean? Does that mean as a business owner i have to " list all litigation involving business itself as well as the entire 'seller' force across the country". The proposed requirement for specific earnings disclosures is acceptable and we do provide average monthly gross income. Expecting more than that is not meaningful and a huge pain for an independent business owner.I believe that a brand new business owner, who has no substantial income to show will have great disadvantage, since this business is all about finding prospective business owners and this will only hurt the free enterprise system that this country was built on. The proposed requirement for financial substantiation is absolutely outrageous. Are you asking me, as a business owner to provide a business prospect who i will be working with my income details for him to get into my business? Yes, i can certainly provide details of what is in store for him if he does the work, but cannot and will not share my personal finances with a prospective business owner. Thanks and kind regards, Business Owner Powered by Quixtar