| Comment Number: | 522418-09813 |
| Received: | 7/15/2006 10:13:48 AM |
| Organization: | Quixtar |
| Commenter: | Lori McNichols |
| State: | OH |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
We started our Quixtar buisness six years ago to get rid of debt and some extra spending money. Through this opportunity we live a life virtually debt free. We pay off our credit card every month! We both have a Masters degree but are not shackeled with school loans. We own the titles on our car and truck. The only remaining debt we have is our house payment. We have increased our payment to the point that we could refinance a 30 year loan to a 15 year loan, thus we will not pay for it three times before owning it. Our minivan will be paid for in a couple of months. Before this business my husband and I were going different directions in an attempt to make extra money. This put a great deal of stress on our marriage as we never saw each other. We did not have children because we did not feel we had the time or the money. This buisness opportunity has provided a way for us to make extra money without having to get second jobs which would essentially result in never seeing our children which is the reason we now want the extra income. Our next goal is to replace my teaching income so that I have the option of staying home with our two children Ethan (3) and Alex(1). I am mystified by the proposal of a 7-14 day waiting period to begin a buisness. Americans have the freedom to open as many credit cards as they like and do not have a waiting period to drown themselves in financial ruin. Why would you require them to wait to put themselves on the road to earning their way out? When we were shown this opportunity we were provided with at least three opportunities to meet with the buisness team to see the business plan and to get our questions answered. Our sponsors would have met with us more if we would have had any remaining questions. We were provided with a literature pack that thoroughly explained not only the business plan but what our role would be on the team. This literature clearly states that the average IBO makes only $115. My husband and I made a decision to join this business because we did not want to be average. I am puzzled that you would require earning disclosures and financial substantiation for a $200 investment when we have lost many times that amount through our financial planner who was not required to show us any evidence that he was successful. Through the business presentation the leaders on our team make it abundantly clear that this is not a get rich quick scheme. It does require hard work. The beauty of this buisness is that it allows people to put in the time that they have available. We understood that due to our limited time we would not become financially independent overnight however, it has allowed us to build options into our life that we would have not been able to achieve in any other arena. With a limited investment of $200, our view was what do we have to lose? We became even more confident when we were told that it was completely refundable for 6 months. Due to the incredible example set by our sponsors this is the way we model our own business as well. Our buisness team meeting provides an opportunity for any prospect to meet far more than 10 IBOs. Due to the fact that this is a business that is run from my home, a requirement to release my home address and phone number puts not only myself as a women but my children at risk as well. We personally have an IBO that we just registered in Kentucky. They do not have 10 IBOs in their local area. I believe that such a rule would be blatant discrimination which would prevent them from benefiting from this opportunity simply because the live in a rural area. As to the litigation list, I am a smart consumer, but I also have a limited amount of time. How many people do you think would shop at Walmart if upon entering the door they were handed a list of all of the lawsuits that had been filed whether frivolous or not against them in the last 10 years? Clearly these concerns should be eliminated from your proposal. Thank you!