| Comment Number: | 522418-05933 |
| Received: | 7/4/2006 2:04:03 PM |
| Organization: | Quixtar |
| Commenter: | Thomas Norris |
| State: | IN |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
The proposal is good in intention but has some serious flaws for people wishing to have their own home-based business. An equal playing field by requiring clear, easy to understand, and standardized income figures is good. However a 7-day waiting period before registering is an insult to people's intelligence, an excessive amount of time, and not necessary. The 3-day major purchase revokement law already applies, and a clear and simple cancdellarion period are quite adequate for all business opportunity presentations. Businesses are, by nature, an opportunity - NOT A GUARANTEE! Therefore, to provide references, financial records and disclosures of past litigation should NOT be part of an opportunity presentation. Further, the nature of all businesses, usually requires at least 5 years to break even and many people are not willing to stay with something to see it through for a number of years to turn a profit. In particular, Quixtar, has a considerable number of people that QUIT and then wrote blogs about their failure but they fail to include that they were able to step away from the opportunity and that it was THEIR DECISION to QUIT. As a former Math Teacher, I repeatedly told my students that WINNERS NEVER QUIT, BUT QUITTERS NEVER WIN. My main concern is the playing field is open and fair. Further that decisions to be involved can be changed with minimum effort. Finally that the opportunity be presented with a printed explanation of conditions, terms, restrictions and exceptions. My serious concerns about this proposal are the 7-day waiting period, the disclosures of all lawsuits, arbitrations and other legal claims against any business opportunity presentation, and the verification of all financial records and claims. Once more for emphasis, a business OPPORTUNITY is an OPPORTUNITY, NOT A GUARANTEE! Thank you for your careful and wise consideration of this proposal. Best regards, Tom Norris