Comment Number: 522418-05850
Received: 7/3/2006 9:12:31 PM
Organization:
Commenter: Levi Lippincott
State: NE
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

I have been involved with the Quixtar business opportunity for coming up on 3 years now. I have through this program allowed my wife to stay home and raise our son. Our next goal through the opportunity is to bring myself home from a job and pursue our business full time. This business allows us to have friends with the morals and ethics that we believe in and allows us to help them achieve their dreams and goals. There are many benefits that this business offers besides income such as my wife and I now have a common goal in our marriage, it is not she is doing her thing and I am doing my thing, our marriage will last because we share a common goal and purpose. When I got registered on September 11th, 2003 I had gone to 4 meetings and was provided lots of information through tapes, pamphlets, and question and answer sessions. I was able to get all of my questions answered to my satisfaction. When I present someone with the opportunity I like to let them know that I am here to provide them with enough information that they can make and educated decision, besides, if it is a good opportunity it should have good answers to your questions. I try to make it abundantly clear to everyone that this is not a get rich quick opportunity and that it takes hard work and effort to achieve anything, I also let them know that I do not guarantee them success in the slightest. The prospect will typically spend anywhere from $150 - $200 in there registration and they are able to get back for up-to six months all of their investment. That is a little background on me now the issues. 1. The requirement of a 7-day waiting period: This is going to slow the growth of the opportunity down. I am not talking about get rich quick but there are some people who will register 10-15 people within 4 days and that will dramastically impede their success. 2. The requirement to provide references: If I were to be providing references of other IBO's in the area about me this would just slow things down for people. Not to mention the unwanted phone calls that I would be receiving for others in the area when I am a reference. I do not have a house phone so it would burn up my cell minutes. I also feel that when someone I do not know is given my contact info it is a violation of my right to privacy. How do I know that this person is not simply trying to network themselves because they have a business they want to get the word out about and then they will have 10 contacts that they did not have before? When people register they have typically been to an informational seminar before and they have met a lot of the people that I am working with anyway so that will be a perfect time for them to ask questions of people. That is infact what we encourage at the meeting. Requirement to provide a "Litigation List": This is just a pain because the term "seller" is not defined and could be taken to mean all the "IBO's" across the nation and I have no idea how or why someone would need to know about something someone else did wrong when they are dealing with me. When you are buying a car you do not see if the other dealers working with "Ford, GM, etc." have any law suits or any other litigations against them. The requirement for financial substantiation: I never disclose my personal income unless the prospect asks because they truly do not need to know my income. If I were to ask someone how much they have in the bank that is just rude, and the same applys. However, I will share with them my average monthly income, and my last month's income if they really want to know. I also let them know that it affords my wife to stay home. I feel that if I were required to offer prospects the financial records necessary to substantiate my Quixtar income that would be grossly inappropriate. As I stated earlier, not only is it rude, but is also an untrustworthy thing to ask me to do and I strive to work honestly and have integrity in everything I do.