|Received:||6/26/2006 8:04:21 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:I would like to address the FTC proposal to make new legislation on business opportunities. First I'd like to applaud your efforts at exposing the scams that cause so many people to get into financial trouble. But at the same time it would be a great disadvantage to the legitimate businesses in this industry as it is currently written. My husband and I are honest home-based business owners who enjoy our "job". To have to come up with a reference list of at least 10 other IBO's (Independent Business Owners) in our area would contradict the basis of the business. To be independent is just that, it is not to have to come up with other people to back you up. Also, to have to substantiate our earnings and calculate those of others would be nearly impossible as well as delving into our personal life. While we have no problem telling someone (as well as showing evidence) of how the income opportunities work, we do not feel as though it would be a fair representation of this business to disclose OUR personal income. Many people will do better and some will do worse. It's all up to the individual. I would also like to address the idea of a "litigation list". I think that is a great idea to a certain extent. To be required to disclose such information about yourself, YOUR business, as well as the personal businesses of others in your network would be too cumbersome a task. We would spend more time on searching everyone's personal businesses than expanding our own! Besides the fact that it is the responsibility of the company that we "bought" our personal business from to handle such problems on the large scale. We feel as though an IBO should only be responsible for disclosing THEIR OWN information, whether good or bad. Lastly I would like to address the 7-day waiting period. Any business that tries to "force" someone into a business on a time basis is probably a scam. We DO NOT have a time table for joining us. We try to induct people as quickly as possible so THEY can build THEIR business, but this is ALWAYS at their convenience and comfort level. The 7-day wait would not hurt us as much as it would hurt our prospects. We would hate to have to squelch someone's ambitions because of a 7-day mandatory waiting period. Please look at it from the point of view of the potential new IBO. They would have to wait a week to start becoming financially independent! ANY person looking to join us will not want to be forced to wait to change their life! We sincerely hope that you will revise this potential legislation to protect prospects as well as legitimate business opportunities while exposing the scams and dishonest "businesses" and put them out of business.But at the same time please tread cautiously on the lives of those of us ambitious enough to make our own, honest way in this world. Thank you for your time and consideration.