| Comment Number: | 522418-09059 |
| Received: | 7/13/2006 9:23:08 PM |
| Organization: | Diamond Quest |
| Commenter: | John Eiden |
| State: | MI |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
To Whom it May Concern at the FTC: My wife and I have been involved in the Quixtar (formerely in the Amway) business since 1990. When we got started with the opportunity, I was working as a licensed private detective in the State of Michigan. I was normally sceptical of any type of business, however, I felt very comfortable with the way this business was presented. At no time have we ever been mislead on the income potential or the effort needed to become successful. We have carried that pattern through our career in this business. This business has made a tremendous, positive impact on our lives. We value the personal growth and mentorship that was made available to us since the beginning. We believe we have a legitimate, worthwhile opportunity that can add great benifit to so many people. The recent proposed changes the FTC would like to implement, in my opinion, would cause negative effects on the business. For example. The 7 day waiting period for IBO's to register, would eliminate those interested in the business opportunity, from getting started in a timely fashion. We have always provided the SA4400 (approved disclosure) to all we share the plan with. It makes sense to allow the prospect to get started when they are ready, be it right away or two months. They have to be comfortable with the decision. Listing all legal allegations, lawsuits, arbirtations and other legal claims seems quite out of the ordinary. I can't imagine any other company, employer or business doing this. Anybody can research this on their own if so inclined. Providing names and personal information such as addresses and phone numbers to prospects violates our privacy. We are all independant business owners. This is not the same as would be a corporation or corporate officers, where that information is public. The idea of providing a list of local IBO's to a prospect would create unimaginable problems, since they likely would be from many different lines of sponsorship. This would be confusing and would be potential for unethical recruiting. The information we provide to the prospect substantiates how the incomes are calculated. If anything, we have always been very conservative. Not all prospects desire to make a large income. Some just want to make a small income, some a large and everything in between. We have always enjoyed the fact that the FTC regulates our type of opportunities. We believe this has established a benchmark for how a legitimate business such as this should be run and how business should be conducted. We look forward to working with the FTC, however, these proposed changes seem to be overboard. Sincerely, John M. Eiden