|Received:||6/29/2006 10:56:09 AM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:My husband and I have been IBO's in Amway and then Quixtar for 35 years. We have worked hard and become financially independent while helping others in our organization to acheive their dreams and goals. The business has given us time to enjoy our children and grandchildren, and it has resulted in many life-long relationships with IBO's in our group throughout the world. When we registered in the business we investigated the opportunity thoroughly and were given all the information we needed to make an intelligent decision, and we have always provided our prospects with the required income disclosures. There is absolutely no advantage to promote this business as a get rich quick scheme because people who want that type of opportunity are not willing to work and we know we will just be wasting our time with them once they register. Our prospects generally invest about $100 to register (mostly products) and they know they can get all of this back if they leave the business. If our prospects had to wait 7 days before registering it would cost us considerably more time and money to build the business and consequently make the business much less attractive. Many in our organization would stop building, which would erode the income we have spent 35 years building. If people can already get their money back, why is there a need to have them wait 7 days? There are several reasons I am against providing prospects a list of local IBO's to contact. 1. Because of our success and our integrity, many in our local area would give our phone number and address out, which is a violation of our privacy. 2. We would be deluged with calls and would feel the need to tell these people how great this business is, so they could get in another group. 3. Others with less integrity who receive these calls might feel the temptation to encourage the prospect to get in the business with them instead of the person who showed them the opportunity. 4. Some who receive the calls may have a sour grapes attitude about the business simply because they have failed to put any effort in, and this would be passed on to prospects who are willing to work. 5. Some who receive the calls may be very successful in the business and paint a picture that is too rosy, leaving the prospect with the idea that they will get "something for nothing." 6. Prospects in our business are universally invited to attend meetings where they can meet other IBO's and ask questions. We try to introduce them to people who have similar occupations who they can relate easily to. There is no need to have them calling all over town asking for information from people we do not know I feel it is very inappropriate to require IBO's to disclose their financial records to substantiate their Quixtar income. There are no guarantees in this business. We tell people how the business has changed out life personally as well as financially, but we assure them that their success will depend totally on how much time and effort they are willing to put in. We inform them of the average monthly gross income, which should be adequate without each IBO issuing a financial statement. If this were required, many prospects would decline the opportunity just based on invasion of privacy.