Comment Number: 522418-04436
Received: 6/26/2006 10:05:38 PM
Organization:
Commenter: RIchard Morea
State: NY
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

I have been an IBO with Quixtar for 4 years and it is the absolute best business opportunity in the world today. So I am very concerned with many aspects of the proposed FTC regulations because they will hamper my business building efforts and also my future income. When I was first shown the business plan I was informed that this was not a "get rich quick" scheme and told that it would take 2-5 years to make a significant income. I received income documentation approved by the FTC that stated a potential 2-5 year income as well as the avg.income of IBOs. I do the same for my prospects now. If prospects had to wait 7 days before registering, it would negatively impact my business. A person buying a gun has to wait 7 days for obvious reasons. What would my prospect think if they wanted to register and I told them they had to wait 7 days? I have found that prospects only register when they have all the facts and Quixtar provides them with all the information needed to make an informed decision thru videos, printed materials, and credible websites to give people the truth about this great business. A complete and thorough analysis of the Quixtar business using these tools can be done in just a few hours. Prospects should be able to start their own business when they want to, not when the government allows them to. Should people have to wait 7 days before accepting a new job offer? Having to ask prospects to wait 7 days would inhibit them making money in their business because they would not be able to register their friends and family right away, hence, hampering any possibility of making money right after starting up their business. All of my prospects meet with other IBOs before registering. All prospects are encouraged to attend various business meetings and seminars where they can ask questions and learn more about the business. If I had to provide a list of names and numbers of other IBOs in my area it would greatly increase the chance that my prospect might register with someone else. I don't know these other IBOs and would not be able to vouch for their credibility and integrity.I would not feel comfortable referring my prospects to strangers because I can control what comes out of my mouth but not someone else's. I also feel it would be an invasion of privacy if my name, address, and phone number were being given out to strangers. If someone were thinking of opening a business on a street with other businesses, they can't just walk into each other business on the block and demand to see their income statement and financial records. They gather all the information about the particular business they're opening, and make an informed decision. If i were required to make a separate disclosure for every potential income example it would greatly hinder my business and my income. I tell all of my prospects when showing them the FTC-approved business plan that the numbers are only hypothetical and that their business might be structured differently, hence they will have a different income. My prospects know that the 2-5 year income we use in the plan is not guaranteed and that its based upon a hypothetical situation affected by a number of variables. I don't think it's fair to require an IBO to disclose their income to new prospects because that is personal infromation that people constantly try to safeguard. Also, my new prospect's potential Quixtar income is not affected by my past or present Quixtar income. Their income is based solely on their personal effort, not on my 1099 income statement. Please take my comments into consideration during future deliberations. The Quixtar business is filled with thousands of hard-working, law-abiding, outstanding citizens and any unfair regulations would negatively impact the livelihoods and futures of thousands upon thousands of American families.