| Comment Number: | 522418-06666 |
| Received: | 7/6/2006 11:53:46 PM |
| Organization: | |
| Commenter: | John Griggs |
| State: | TX |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Re: Business Opportunity Rule, R511993 600 Pennsylvania Avenue, NW Washington, DC 20580 RE: Business Opportunity Rule, R511993 Dear Sir or Madam: We are writing this letter because we are concerned about the proposed Business Opportunity Rule R511993. We believe that in its presented form, it could adversely affect the continuation of our successful home based XanGo business and the small businesses many others have worked so very hard to build and operate. We have been Independent XanGo Distributors for 9 months. We started this small business because we love our product and wanted to share it with our friends and family. We did not have enough money to cover all our expenses at the end of the month. We also were excited about the financial rewards available and the very real possibility of being fully self-employed and retired from the daily "Rat Race". Portions of the proposed rule would make it extremely hard, if not impossible for us to sell and share our XanGo product and opportunity. . The proposed waiting period will give the public the mistaken idea that there's something wrong with our XanGo business plan or us. We believe this seven-day waiting period is unnecessary for two (2) reasons: 1) XanGo already has a 90% buyback policy for all products including sales kits purchased, and 2) XanGo also has a 30 day 100% money back guarantee on the product for all new Distributors. The new enrollee does not even have to send any product back to the company to receive the 100% Refund on the product. Another detrimental section of the proposed rule is the seven-day waiting period to enroll a new XanGo distributor. People buy cars, refrigerators, air conditioners and other items that cost much more than our distributor membership ($35.00) and they don't have waiting periods. Under this waiting period requirement, the required record keeping would be an unreasonable burden for a small home based business. Finally, the proposed rule requires the disclosure of a minimum of 10 prior purchasers nearest to the prospective purchaser. We would be glad to provide references, but in this day of identity theft, we are very uncomfortable and leery of giving out the personal information of individuals (without their approval) to strangers. Don't we have enough problems in this world without adding needlessly to the possibility of more people being opened to foul play? We have seen and heard of many scams on and off the Internet and the need to protect the American citizen from those who would abuse and scam is very real. We feel this rule will not stop the criminals, they violate the current rules and the addition of another rule would have the same results. By trying to control that abuse by penalizing the majority of honest businesses with rules that will be ignored by the law breakers simply does not seem to be the best approach. Sincerely, John and Karen Griggs Mesquite, Texas