| Comment Number: | 522418-10104 |
| Received: | 7/15/2006 6:27:36 PM |
| Organization: | |
| Commenter: | Edwin Caballero |
| State: | NJ |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
HI: I am an Independent Business Owner and I heard about some of the rules changes that are being proposed. I have been an IBO for some time. The Quixtar business is set right for me as I work alot of hours and can schedule meeting in the timeframe that is best for my busy schedule. The business prpvides me the opprtunity to meet new and help new people as well as old friends. The education is fantastic. Since starting the business and being tutored I have gotten a couple of promotions and have helped others to do the same. Some of the requirement in your proposal are not warranted. 1.7 day waiting period - Not required as our prospects have 30 days to change their minds and get a full refund on their application fees and products. 3 or 4 months ago I had a couple that got into the business, paid the fee, got products and within 2 weeks changed their minds and got a full refund back from Quixtar..Excited people want to get started quickly not wait. I saw the house I wanted and put in a bid within the hour. 2.Give Prospects a list of 10 referals - New IBOs do not know 10 other IBOs if they are just starting out in the business. I knew my upline when I got started, no one else. I started my business because they gave alot of imforation so I could make an intellegent decision. 3. List of Lawsuits - Not required. I live in the present not the pass. I don't revisit previous issues. Big companies are a target for all kinds of alleged frauds or misrepresentations. This will cost a small business lot of money to continually provide those documents to everyone we show the business opportunity too. This is a total waste of time. 4.Different disclosure for every income claim - I disclose the standard incomes shown in the book and let them know that there income will match their EFFORT, mine is. 5. Personal financial documents - I don't give my prospects any personal income information. This is burdensome to the IBO as their income is continuing changing. The prospect maybe more active then I am and my income my disway them. I hope my comments are helpful. I love this business and will be in it til I retire. Thanks Ed