|Received:||7/16/2006 4:39:01 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:I have been an IBO with Quixtar for 2-1/2 years. I am very pleased to see your effort in ruling out dishonest business owners. I hope to see a good rule being enforced to rule out dishonest businesses and hope that, at the same time, to assist honest businesses and business owners to expand their business with ease. I have a few comments on your proposed Business Opportunity Rules. The 7-day waiting period before a prospect can register themselves can be reduced to 3 business days as a recision period practiced in the mortgage industry. About specific personal earning disclosure, I feel it can also be substitute with an earning statistics. Like how many earn $5000, they represent 5% of all sales persons, the average experience of them are 5 years in the business. On the requirement to provide 10 references, it can be ranged from five (as minimum) to ten references. And, on the disclosure on income claims, it will be easier to have the company to provide a standard average monthly gross income statement and IBOs can just refer the prospects to that piece of public information. FTC shall audit its accuracy from time to time.