| Comment Number: | 522418-10251 |
| Received: | 7/16/2006 12:25:31 AM |
| Organization: | Price International |
| Commenter: | Alan & Tammy Price |
| State: | MO |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
We have been Independent Business Owners for nearly 2 years. This business opportunity has made a large impact on our lives, and because of this business our lives are very different than a couple of years ago. We are much more positive and excited about what the future holds for us. We are thankful for the opportunity to share this business with other people like ourselves. We plan to continue to share this opportunity with others, and assist those that want to make a difference. When we were registered as IBO's, we received more than enough information to make the decision to register. So when we sponsor others, we like to make sure they understand how this business opportunity works before they register. We make it clear to our prospects that Quixtar is not a "get rich" quick scheme, and that there is a lot of hard work involved. This information is learned thru our one-on-one conversations with prospects, the regular weekly meetings, seminars, and conferences. The cost to register is typically around $170.00, which is refundable if not satisfied within the first six months. If prospects had to wait seven days before registering, this would slow down the start of the prospect's business and they would have to wait to register their prospects which would in turn slow their prospects start of business. This would not be a very effective way to do this business. Besides, if a Quixtar prospect is not satisfied with the opportunity, he or she can get a refund within six months no questions asked. The requirement to provide references would be a huge burden and concern for future IBO's. If we had to provide 10 names and numbers of other IBO's in the area, it is possible they could register the prospect instead of the person who introduced them to the opportunity. This would be very unfair to the person who initially made the contact. Our prospects meet other IBO's at the weekly meetings, team meetings, etc. and learn a great deal of information from those IBO's at the time of meeting them. It would be difficult to make a separate disclosure for every example used in explaining the income potential of a Quixtar business to every prospect. This would create confusion for the prospect, and make sharing the opportunity more difficult. The requirement for financial substantiation is inappropriate, especially for someone who has just started out in the business and hasn't yet made a lot of income. And then for those who have a large income, it is still inappropriate to require this information be shared with prospects. Thank you for allowing us to share our comments.