Comment Number: 522418-04389
Received: 6/26/2006 7:08:00 PM
Organization:
Commenter: Chris Goegan
State: CA
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

I am an IBO in the Quixtar opportunity since it launched in 1999. I am very happy with my experience, we have been able to bring my wife home to raise our kids and our next goal is to allow me the option to come home next year and be a full time dad. I appreciate the business as it has helped me become a better person, strenghten my marriage, improve my finances, and be a better dad to my kids. I am very grateful for the experience and wisdom I have learned. When I registered, I had lots of information needed to make a quality decision and I provide my prospects with the same kind of information. I want them to be comfortable and confident before they register so it becomes a better use of both our time to help them achieve what is important to them. If someone is looking for a get rich quick business, I don't want them to register and I make sure we talk through this before they can register. Get rich quick schemes should be shut down. I educate people that this requires work and effort and there are no guarantees. Most are releived that it takes time to build so it gives them comfort that it is legitimate. They are happier since we can set realistic goals and that there will be sacrifices involved to reach their goals. If prospects do want a get rich quick business, I dismiss them and move on. Registration is well under $200 so it is easy to afford, they can always get money back if they are not satisfied. If there is a 7 day wait period, it would dramatically negatively impact my prospects, they would have to wait 7 days to allow them to market products and register others. This would prevent them from making money right away which is why alot of people get involved, it would make their experience very painful. I can't imagine a car dealership having to wait 7 days before someone can buy a car, or a furniture dealer, or someone buying a home, and our opportunity is less than $200 and they can get money back. There would be severe financial opportunities lost for the prospect. My business profitability would be horribly negatively affected - the whole process would be slowed way down since people would have to wait 7 days before they could register anyone and so on. My business efficiency and profitability would be reduced to 15% of efficiency. The goal of business is to move forward and be more profitable earlier. If someone makes an educated decision, why should free enterprise force them to wait before they can make money to feed back into the economy? Before prospects register, they are welcome to meet other IBO's if they choose. I recommend they meet other IBO's and potential team members to make sure they are comfortable with the people and the opportunity. I do not want my personal information shared with everyone as this could violate my privacy and expose me to unwanted spam and soliciations. If they are sincere about meeting people, they can come out and meet other IBO's. A litigation list is not helpful. Does Walmart have one posted on their doors? This opens the door to fraudulent lawsuits that can damage the business. Regarding providing financial and earnings, I do not wish to be subject to people looking to get my personal information so they can solicit me or allowing me to be a target for theft or fraud. The income levels are clearly identified in the business plan. I don't cover how much we made at different levels and if they ask, I let them know the levels we have hit and that they may achieve the same quicker or slower. The business opportunity is about how it can help them and if they are willing to put the work in. I know there are illegal scams out there and they should be shut down, I have been approached by different businesses and when I check to see if they are listed with the DSA, a lot of them are not. I am proud to be involved in the Quixtar opportunity and like the intent of what you are trying to do, the specifics on the proposal do not work as is and should be modified. Sincerely,Chris