| Comment Number: | 522418-07490 |
| Received: | 7/10/2006 11:33:34 PM |
| Organization: | Quixtar |
| Commenter: | Kenneth Reynolds |
| State: | FL |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
We have been independent business owners in the Quixtar/Amway business since I retired from the Air Force in 1990. It was then and still is a terrific opportunity to create additional income with outstanding products while helping others.. We were introduced to the business by an attorney friend of ours that knew we were looking for an opportunity. When we started our business every aspect of this business was explained to us along with materials to inspect and review. This business has never been offered as a get rich quick idea and we have always been careful to inform those with whom we selected to share the business plan that hard work is required and the amount of work is directly related to the amount of monetary return expected. The initial investment to be a business owner has always been a small one of less than $100. For those of us who wanted all the info and help we could get the start up was a little more. It has never been more than a couple hundred dollars for the initial startup. And there was the voluntary continueing education, workshops, seminars and conferences that any industry provides to keep their people professional and informed. Again, a very small price for a business. We were always told and we informed others that investment of time and money is required to launch and maintain any business. The neat part of this business is that most of a new person's investment is cheerfully refunded should they "get cold feet". No where have I seen that in any other business venture. The proposed 7 day waiting period is frankly a silly idea. We are dealing with adults who are considering business venture not buying an automatic weapon. A business I might add that is highly regulated already. It would also be a burden on those that want to get up and running with other interest entrepeneurs who feel the same way. Also this business is shared on airplanes while on vacation, business, etc. where sometimes time is of the essence. With respect to opening up one's personal information and financial information to a prospective client/business associate is laughable. No person's financial success is going to insure success for someone else so what's the point. An unsuccessful doctor doesn't mean that someone else can't be successful. And how much I make should be nobody's business. As for providing litigation awareness I find it even more troublesome. What kind of litagation are we talking about here and who is this "seller" specifically. Not a good idea and protects no one. I am convinced that the FTC has enough complaints to handle already without adding past litigation requirements. And once this so called litigation information is passed along, does anyone plan on providing a way to wipe the slate clean should the court clear this "seller" And finally, I would ask that all these efforts to protect the public be focused on eliminating all the "just like....only better" schemes that require large investments and purchase of untested products. Instead of messing with a successfull marketing plan and respected company think about using their marketing plan as a clear example of how to do it right. They have for almost 50 years.