| Comment Number: | 522418-06578 |
| Received: | 7/6/2006 7:36:43 PM |
| Organization: | Biggers Enterprises |
| Commenter: | Carol Biggers |
| State: | ID |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Dear FTC, My husband and I are IBOs (Independent Business Owners) with Legacy Business Group through the Quixtar website. We have been IBOs since 1999 and have sponsored many people. We are very excited about the opportunity for ourselves and others. It has changed our lives and is changing others' lives as well. It's not just about the money, but the mentorship and training programs. I have reviewed some of your proprosed rules for helping businesses like ours to be legal, ethical and moral. We applaud that direction, but some of the rules will hurt, not help our business. The limitation of waiting 7 days is not necessary, because people can get their money back if they change their minds in that time. One IBO I signed up did just that. This will slow down momentum and will not help anyone. Another poposal to disclose income completely is also not necessary. It states on the forn they sign, what the average IBO income is and we tell them that their first check may be less than $10. They understand it is not a get-rich-quick sceme. We are also careful to not exagerate the potential, but stick to your guideliness of potential income. It is also not necessary to give them references. They have the opportunity to meet others in their team before they sign up and ask questions. We need them to have reputable sources of information within our team. Other IBOs may do business differently and may want to steal our prospects. I know not all business owners are as honest as we are, but I believe that there is no need for income proof. Knowing what I make from my business each year, may limit how much they think that they can make. The way ecomerce is growing they could easily exceed all past experiences. Again, we are straightforward about the work it will take and the investment it will take to be profitable. Lastly, I have not been sued, nor has any member of my team, The IBOA board, I know has delt with people in other teams who have. But that doesn't affect my business, so that should not be a requirement of disclosure. Do people who buy McDonald Franchises have to know all the lawsuits they have ever had? If they wanted to know, I'm sure they could find it on an internet site. Thank you for helping honest businesses like ours and please consider these points that our business has covered already for those IBOs on our legacy team. Sincerely, Carol and Kelley Biggers