|Received:||7/11/2006 10:19:55 PM|
|Organization:||Affilliated with Quixtar My business name is Eighth St. Enterprises|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:I think that this proposal is a good idea, as it would take care of front loaded schemes, however, it could greatly impact how I operate my business. I've owned my business for 3 yrs. now, I was contacted by a friend and a business associate of his, it was explained to me during the plan that alot of hard work would be involved and that my success was totally dependent on my efforts. I did not need 7 days to think it over, nor did I need to know all the percentages of failed business owners, because I was aware that only I could determine whether or not I would succeed. When I show our business plan I make it clear that there will be hard work involved and that the success of the new person is also dependent on their efforts. We have a method of learning and teaching how to build our businesses so that they are very duplicatable, and that is something that we teach. The telephone is also a major factor in how I build my business and how my future partners will also build their businesses, as we use the phone to call prospects with prior approval , there are no cold calls they are all preexisting relationships. There is no money made on the sign up fee as all the money is used for registration, this gets you your number, and the rest is for products that you receive to start using and promoting in your business. I tell the people that get in business with me that I will help them until they succeed or quit, this is the same offer that I received when I signed up. All products are 100% garanteed. Some of our independent business owners that are just starting may not have any financial information to share, because they have just launched their business, and this would not give a true picture to their prospects as to the potential income that could be made, we currently share the average income for an active IBO to help them understand what the potential of their efforts could gain them. If further financial information is needed for the FTC or the IRS or any other government agency we gladly share that. However, due to the privacy act, we prefer to keep all personal financial records personal. The new IBO's financial success will not be determined by my finances, so much as it will be determined by his/her personal efforts.