| Comment Number: | 522418-04349 |
| Received: | 6/26/2006 4:40:10 PM |
| Organization: | Williams Motivation Inc. |
| Commenter: | Luke Williams |
| State: | WA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Dear FTC, Please take into consideration the following when evaluating whether or not to introduce proposed legislation that will, in my opinion, adversely affect legitimate Independent Business Owners in the United States of America: Owning my own independent business powered by Quixtar has been a tremendously positive experience for myself and my family. In a country founded on the principles of free enterprise, it is imperative that we continue to allow citizens to achieve their dreams and goals, providing the most opportunity possible while trying to keep things fair and honest for everyone. Being forced to Provide things like financial substantiation will severely handicap new business owners from succeeding because when they are showing the business plan to others, they are not showing huge profits right off the bat. No business starts out with huge profits right away; it takes time to ramp up. Imposing this rule of providing financial substantiation will simply cause large businesses to grow larger and small businesses to struggle for a longer period of time, making it far more difficult for the newest person to get started. Furthermore, the requirement to provide a litigation list is unnecessary because court documents are public information and available to anyone willing to do the research. It is my understanding that when evaluating any type of business opportunity, it is the prospective party's responsibility to do thorough research, not the one presenting. This is true of any job evaluation, college evaluation, etc. With the internet, we all now have access to the same information. The last topic I would like to address is the idea of the 7-day waiting period. This is like starting out a race with your legs taped together. What if, in this country, we made a rule that anyone who starts a working at a new job must work unpaid for 7 days before being eligible to receive a paycheck? The truth is, most people wouldn't make it that long and we would have longer lines at the unemployment office. Please don't make the mistake of preventing IBOs from doing business and being profitable at day 1. That is one of the coolest things about this business opportunity and one of the biggest reasons why people get involved and build it. Sincerely, Luke S. Williams Independent Business Owner