|Received:||7/17/2006 4:48:38 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:We are Independant Business Owners in the Quixtar business opportunity and have been since it's inception on September 1, 1999. We are currently Founder's Platinums in the business. Previously I was affiliated with the Amway Corporation, becoming a distributer in August 1995. My wife and I are health care professionals/ health care educators, and we take our affilliation with the the IBOA, Teambuilders and the Quixtar Corporation very serioiusly as it truly provides individuals with the opportunity to be reduce their financial stress by working with experienced professionals in a mentorship arrangement. When we share this business opportunity with prospects, we are very clear that this is not a get rich program and that like anything that has value, it takes work and mentorship. We provide them with the business plan, the projected income that can be generated at various levels in the business, the upfront costs and the ongoing educational expenses(investments) that they would incur if they chose to participate in this voluntary program. Our concerns regarding the proposed regulations is that it will place undo hardships on individuals who are striving to create opportunities for free enterprise, which is the heart and soul of this wonderful country of ours. We strongly agree that honest and clear disclosures should be a requirement so that there is a level playing field for all and there should be a reasonable and seemless cancellation policy. However, we are not supportve of a 7 day waiting period before registration as this would be covered by a strong and clear cancellation policy. As it now stands, most new IBO's do their due dilligence before registering. At least our's do. We are also not supportive of the policy of providing references as this business is an equal opportunity business and just because one person succeeds or fails, does not infer that the prospect will. We do provide infomation regarding the prospect's support team and give them the opportunity to contact them if they so desire. This is the team that has a financial connection to the prospect and a keen interest in their success. Also, past litigation is history and either in resolution or resolved. In most cases the problems seem to stem from a misuse of power/information by those who expected to get rich at someone else's expense. The other recommendation that we are not supportive of is providing financial records to prospects. I certainly agree that the potential income that can be generated at the various levels in the business needs to be laid out and the yearly sales and profit sharing of the corporation needs to be shown, but the income of the sponsor is not pertantent to the success or lack of success of the prospect. The IBOAI has developoed a profit sharing plan that is totally predictable and fair to all those who choose to participate in the program. Everyone is free to make as much or as little as they desire, based on thier work ethic, their goals and dreams and willingness to grow and be teachable. The key to financial success in this industry is determined by how man people you can serve and teach the core values of success, fair play and financial freedom.