| Comment Number: | 522418-08696 |
| Received: | 7/13/2006 10:49:33 AM |
| Organization: | XanGo |
| Commenter: | Rick Vaughn |
| State: | AL |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
To Whom It May Concern: I am writing this letter because I am concerned about the proposed Business Opportunity Rule R511993. In its present form, it could prevent me from continuing as a Xango distributor and destroy my small home- based business. I have been an independent Xango distributor for more than 5 months. I began my Network Marketing because of the products. I attained such great benefits from them and wanted to earn extra money. Now my family depends on this extra money to supplement our budget. Please don't destroy my small business. We need it for college expenses! Some of the proposed rule would place difficulty on my selling my Xango products. The waiting period will have a negative outlook on my business concerning the plan or me. It is unnecessary due to XanGo already has a 90% buyback policy. The seven day waiting period also holds excited people back from getting the products they need and starting their home based business. XanGo's membership kit costs only $35. This provides a great opportunity to the less fortunate to be able to make extra income for their needy family. Also, people buy TVs, cars, jewelry and other items that cost much more than that and they don't have to wait the seven-days. Under this waiting period requirement. I will need to keep very detailed records when I first speak to prospects and have to send in reports to my company. I am a small home based business and this burden will hurt or destroy my business. Finally. the proposed rule requires the disclosure of a minimum of 10 prior purchasers nearest to the prospective purchaser. I would be glad to provide these names, but in this day of identity theft, I am very uncomfortable giving out the personal information of individuals to strangers. It is hard enough to keep your private life private. I have seen many scams on the Internet. This proposed rule will not stop Crooks - they violate the current rules all the time. However, I am a legitimate small business owner and it will hurt me. Thank you and please continue to protect our right to be small business owners. Sincerely, Rick Vaughn