Business Opportunity Rule #522418-12044

Submission Number:
522418-12044
Commenter:
Larry Hines
State:
IL
Initiative Name:
Business Opportunity Rule
In regards to the FTC proposed guidelines, I have been an Independent Business Owner (IBO) since Oct. of 1990, and have invested myself in the Amway/Quixtar business models. I achieved the level of Ruby in 2000. The business plan I have found to be designed to be fair and flexible for any person(s) looking to diversify their income. I have received back personal growth in addition to the travel and monetary rewards. I received more help and support in getting my Quixtar business going, than I did when I received my Real Estate (RE) License back in 1979. When you get a RE license you have no promise (or written disclosures of how much the average RE agent makes). When I signed my Quixtar application I had already received information on the averages, been advised of the time it would take to get a business up and running, but that it was up to me to decide what I wanted to achieve and get out of my own business. In the Real Estate world even though you was an independent contractor, you are told what time and how much time you have to put in. Still with no guarantees. When I get some one started as an IBO I recommend that it will take about $200 to get registered to do business with Quixtar (this includes registration and some products). The new IBO is told the same as I was. It will take some investment (as in RE) to get going. They can look to invest several hundred dollars over the first year, depending on what they would like to achieve. I invested well over $1,500 in 1980 in RE training. I did not even come close to that in 1990-91, as an IBO. I do not believe it is in the best interest of a new IBO to have to wait to register (as long as the company they are registering with has a 100% buy back guarantee). This puts a limit on their right to build an Independent Business at their own pace. When I list a home I am not required to give references on the Biggest Investment in most peoples lives. Having to give references of IBO's who I do not even have business contact with is like giving a RE prospect lead to my competitor (bad business practice). In regards to providing a "litigation list". That would keep any IBO having to do research for each case (even those without merit), restricting them from the opportunity to develop a sound and profitable business. This would require that an IBO to be practicing law trying to decipher what is real and not, and then trying to explain it to a prospect. If I had to put out every lawsuit in the RE industry I would have not time to develop my business either. I have not nor would I disclose my income to a prospect in my RE business nor my Quixtar business. That is personal information, not public knowledge. Every one has the right to privacy. Each and every IBO can invest their own money and time into different areas of their business. My earnings or people I do business with have their own budgets and expenses they feel are important to their life. I do believe a company needs to have a prospective available for a prospect to see when they are given the marketing plan. This prospective should include average incomes, years in business, buy back/return policy etc. clearly stated. Thank you for the opportunity to share my views on this matter, Larry Hines