Business Opportunity Rule #522418-12651

Submission Number:
522418-12651
Commenter:
Satyanarayana Thentu
State:
MI
Initiative Name:
Business Opportunity Rule
My name is Satyanarayana Thentu and I am pursuing in the business along with my wife Ajitha Yerrabelli. I am in the Quixtar business for over year now. The income we earn is definitely a good supplement to our primary source of income.But there are other great benefits such as improvement in communication skills, the oppurtunity to help others make the money aswell. When I registered in the Quixtar business, I was given all the information I needed, namely in the form documents which has the marketing plan, CDS and more information on the website(Quixtar.com). I provide my prospects with similar or more information and sufficient time to review the material/information to make a decision. Right before I register a prospect, I reiterate to him/her,that this business takes time and effort and that they would not achieve success if they do not work hard enough.The prospect would have to invest(typically) about $55-$150. Coming to the proposed rules by the FTC, The waiting time for the prospects for seven days has to be eliminated because if the prospect is ready to get started right away there should be no waiting lag and if he /she is not willing to pursue the business they can get their money back within 6 months of joining the business. The requirement to provide 10 references to the prospect has to be eliminated as the privacy of every IBO and his reference list of IBO'S is revealed to everybody which might not be a good move for the IBO's who are working full time and might affect their primary source of income. The requirement to disclose past litigations is to be eliminated because even though the company has a great reputable history and well known celebrities involved in the business, just because of some individauls who have bad values or were involved in a fraud the company as a whole would get a bad name and will give the wrong image to the prospect which is very deceiving. We already disclose average income of an IBO in our marketing plan, but disclosing personal financial information to a prospect is not safe for various obvious reasons.In short, IBOs should not be required to disclose their personal financial info.