Comment Number: 522418-07501
Received: 7/10/2006 11:52:38 PM
Organization: Stonehouse & Associates
Commenter: William Stonehouse
State: CA
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

We have been active in the Quixtar business since 1996. Full disclosure was made to us and we make sure we comply with the rules when we start new IBO's. The existing procedures are most adequate. In real estate, with transactions worth millions of dollars, there is a 3-day recission clause. Does a real estate broker or a car dealer have to give every prospect a list of references with contact information before they can make a purchase? Do they have to list all legal obligations against them--now and in the past 10 years? In our business, where the start-up fee is minimal--why would you even consider such restrictions??? There are credible and non-credible people in every kind of business. You can not legislate so many rules to try to control all the non-credible people at the expense of hurting those who are credible. These proposed restrictions would hinder us greatly in building our business. The other side of this is the fact that the IBO gets much more than they ever expect. They get amazing mentorship, they get connected to a system to help them build their business, they meet new people and have the opportunity to build lasting relationships, as we have throughout the United States. Whether we continue in this business or if we decided to stop--it has been so worth it. We have had the opportunity to grow as individuals in a safe environment with people that care about us. We have been able to become leaders and help many others. This business is founded on the principal of helping other people. We don't make money until we help others make money. It is a business people helping people--quite different than the "dog-eat-dog" business world. This is an obvious attack by the FTC against the multi-level businesses where everyone has a chance to become successful if they choose to. They cannot sit on the couch and expect to be wealthy. They must learn success principals and then make a decision on whether they choose to change their current habits to match those success principals. Some choose to change and some choose to stay in their comfort zone. It is not the fault of the business if they choose not to make changes. This business is of the highest integrity and we are proud to be a part of it. We have achieved Founder's Platinum and of course, plan to move to higher levels. But whether we make alot or a little is totally dependent on our effort. Please do not take away this opportunity from so many that need it. This business helps so many from so many walks of life to make a better life for themselves. It gives them hope for a future and whether they reach all of their goals or not, they have learned to become a positive influence in a very negative world. This is an awesome business and it does not need unnecessary extra rules and regulations that would put impossible limits on the success of so many.