|Received:||7/6/2006 8:16:41 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:My wife and I have been IBOs for about 4 years now. We take our business very serious and see it as being our sole income in the near future. When we were presented with the Quixtar opportunity it was clearly communicated to us that this was not "get rich quick" and that building our own business powered by Quixtar would involve true effort. So, we got in business with a long term view for building our business. We also were given a legal document that stated what the average active IBO earns and how an active IBO is defined. We offer the same legal document to others before we register them because we want them to know that this is not a hobby but real business and to create business like income this need to be treated like a business. If we would not communicate this to our prospects before they register they would probably quit and that would mean that we only wasted our time. I don't know of any traditional business or franchise where it is required to present any personal Income statements. In any legitimate business income is being generated over time and based on the effort put in by the IBO. It is easy to show an income statement but not so easy to provide proof of the effort put into the business although those two elements cannot be seperated. Since that is the case the income statement would not be a true reflection of the quality of the busines opportunity. Besides, personal income statements are private information and I would not feel comfortable asking someone else for their income statement much less show it to someone else. Therefore i feel that the proposal for requirement for financial substantiation should be eliminated.