| Comment Number: | 522418-08487 |
| Received: | 7/12/2006 9:49:36 PM |
| Organization: | Quixtar |
| Commenter: | Daniel Aramburo |
| State: | CA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
My name is Daniel Aramburo and I'm an Independant Business Owner with Quixtar. I am writting you with some conserns regarding regulation of Business Oppurtunities. I do understand that people looking for an oppurtunity must be protected from fraud. As an IBO I do not trick or lie to propects. When I show someone my business oppurtunity, I inform them that this business is not for everyone, and that it is not a "get rich quick" oppurtunity, its a long term project. If a potential IBO has questions, I will gladly answer any question. If I don't know the answer, I will contact them later with answers once I learn the answer. Here are my main conserns: Not allowing oppurtunity seekers to register the same day might kill thier dream and energy and will slow the growth of my group. Requiring Independant Business Owners to provide 10 "references" would be unfair. If I found a person that considered joining my group, providing them with 10 other IBOs would be unfair because then they might join another IBOs group. I used up my gasoline and inform the individual about the business oppurtunity hoping this person joins my group so I can help them achive their goals, but then they join another IBOs group? How is that fair? Another requirement would be to inform the individual about all legal allegations in the past 10 years. Again, if the individual has questions regarding legal allegations I would not be able to answer the question. I am not a legal expert or lawyer, so it would leave me without the ability to answer the questions. The most important consern is the requirement of substantiation about income claims. Does that mean I have to show the individual my income tax returns? Does it mean I have to show the individual all the cars the business has allowed me to get? Do I have to show other private finacial papers to the individual? I fully understand the conserns of the FTC and would gladly abide by rules and regulations designed to make sure individuals aren't being tricked; however, the rules and regulations should not make it harder than it already is to prospher in a passive income business venture. Thank you for your time. Independant Business Owner, Daniel Aramburo