| Comment Number: | 522418-10728 |
| Received: | 7/16/2006 9:31:03 PM |
| Organization: | |
| Commenter: | Cross |
| State: | MI |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
These regulations would be hurtful to our Quixtar business. We are concerned about who would provide/buy the different disclosure sheets for each income level and when/how they would be updated. The same applies to the legal allegations for the last 10 years. We have been in the business for many years and no prospect has ever asked about either of these issues. Neither has any one person asked for references to 10 independent business owners in our area. The first thing we do, usually before registering a new IBO, is to introduce them to the team which will be working with them. This usually is less than 10 business owners. Two or three seem to be adequate to give the prospect an idea of the business team they would be joining. It appears no small businesses have similar rules. My doctor or plumber or housecleaner does not have to disclose their financial situation, 10 references, or all of their legal allegations for the past 10 years before I choose to use their services. Nor do I have a 7-day waiting period for any contract I currently sign. Three-days seem to be the limit for big purchases. Perhaps we also need a 3-day cancellation policy. Now the Quixtar opportunity is very affordable for most who want to try to build a business to supplement their family's income. We're concerned that we will have to charge considerably more if we must provide prospects with all of the disclosures the proposals require. That would limit the number or people who could consider and thus benefit from this opportunity. We do already provide income estimates for each major level of achievement in our business (our form SA4400). Because each of our businesses grow differently, it would be very confusing to substantiate all of the income possibilities. Thank you for your consideration of my concerns. We applaud your effort to cut down on fraud - we've discovered many people who lost money in illegitimate businesses.