| Comment Number: | 522418-07109 |
| Received: | 7/9/2006 12:40:08 PM |
| Organization: | Quixtar |
| Commenter: | David Harris |
| State: | CA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I see little value in the new regulations being proposed. I have bee an Independenrt Businnes Owner (IBO) for 7 years. I have met my personal development goals. My next goal is to achieve the 25% Bonus level. This is a part time business for me. I receive information when I registered to make an informed choice. My practice is to provide other with suffiecient nformation to make an informed choice since this business is based on helping other to succeed. We let the prospect know that this business requires 3 to 5 years of effort to achieve success and that there are no guarantees. The prospect receives a simple contract to review and sign. A prospect spend approximately $350.00 to get started as an IBO. If an IBO requests a refund within 180 days of the day of purchase, the IBO who sold them the tools must repurchase such tools on commercially reasonable terms. The requirement of a seven-day waiting period: Is onerous considering the refund practice and the size of the investment, I recieve no finacial benefit from registering a prospect. This business is based on building excitement and growing quickly. The waiting period would reduce the chances of success dramatically. The requirement to provide references before they reqister can work. Prospect usually meet others in the business before registering at home or business preview meeting locations. The requirement to provide a "litigation list" is not practical. Every major corporation has ongoing claims aginst it. This would put me a at significant dosadvantage trying to explain no merit claims. The requirement for specific earnings disclosures are provided based on the amount of volume a prospect may move. This is provided in a written fromat. My personal income level is personal. Other than officiers of major corporations this is not required for any business. I see little value in the new regulations being proposed.