Business Opportunity Rule #522418-12641

Submission Number:
522418-12641
Commenter:
Sumedha Patwardhan
State:
CA
Initiative Name:
Business Opportunity Rule
Hi, My name is Sumedha Patwardhan. My husband and I have been working on this business (right now Quixtar, previously Amway) over 10 years. This business has helped us in tough time. We both have computer background and during the depression, when both of us lost job, this business income helped us to survive in our lives. I would like to inform you my personal experiences about this business and inform you what these new rules will cause you the problems. 1) Prospects would have to wait seven days after receiving disclosures before they could register. --People's memory is really short term. If we had been told to stop for 7 days, we would have missed this great opportunity. I would have forgotten most of the things if I had waited for 7 days. We started this business only on the clause that there is a money back guarantee for 90 days. We started only because of the trial period. Many people take advantage of this trial period and try out the business. Which other business allows us to have the trial period? 2) You would be required to give every prospect a list of "references" -- the names, addresses, and phone numbers of 10 other IBOs in the area -- seven days before the prospect registers. This requirement would infringe on the privacy of every IBO whose name, address, and phone number was provided to prospects. It would also penalize the sponsor, who would be required to give his prospect contact information for 10 other IBOs, any of whom might be happy to register the prospect themselves. --We don't understand why do prospects need references; they ask their friends and family about this business anyway before getting started. We had asked BBB about the company before signing it and it is great to get information from reputed companies. 3) You would have to give every prospect a list of all lawsuits, arbitrations, and other legal claims for the past 10 years involving Quixtar and its IBOs where the plaintiff alleged fraud, misrepresentation, or unfair trade practices -- regardless of whether or not the accusation was true. Among other problems, this requirement would open up Quixtar and other legitimate companies to false accusations. Meanwhile, dishonest companies would simply ignore the rule. --We want to admit our daughter to Standford university and we won't check the lawsuite against that university. Same is when someone takes up a job at reputed company like Microsoft. We survey for the successful people in those institutes. 4) You would have to make a different disclosure for every income claim.This would include any examples you might use during an opportunity presentation to illustrate how the Plan works. -- We do provide disclosure such as "average monthly gross income for 'active' IBOs." 5) You would be required to provide prospects with personal financial documents to back up ("substantiate") any income claim. -- When we took contracting in computer company, the CEO didn't come and show his financial document. Computer contracting was our own business and we were going to be paid on our efforts and knowledge. We cannot show our personal information to the prospect. Prospects can easily find out the income, depending on which level we are. We are "Platinums" and sure plan shows how much an average "Platinum" makes. This business changed our lives for better and we want everyone on this earth to have same opportunity. We want other people to benefit as we have benefited. Regards, <>Sumedha Patwardhan Quixtar IBO