| Comment Number: | 522418-10915 |
| Received: | 7/17/2006 12:00:47 AM |
| Organization: | The Phoenix Enterprise |
| Commenter: | Leonard Betts |
| State: | CA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I have been a Independent Business Owner (IBO) for a number of years mainly buying products, and until recently didn’t try to build a business. Now that I am starting to build a profitable enterprise, I have taken a look at some of the proposed changes the FTC is considering regarding the type of business that I am in. I am not exactly sure what the purpose, or the anticipated result of some of your proposals are, but here are some suggestions that may accomplish your goals without virtually driving the honest IBO out of business. Thanks again for your concern about the industry and the public welfare. SEVEN DAY WAITING PERIOD: Why not give a 100% money guarantee if not satisfied, no questions asked. That lets the new IBO investigate the opportunity from within and from the outside. REFERENCES: No one gives out references that would give a bad report about them. Plus most of us are small business owners without an office and the address and phone number requirement would be that of our home. That’s too personal. LAWSUITS: What other small, non-incorporated, business owner is required to provide this information? Would this even hold up in court? This requirement is too cumbersome and one sided to be used. If car dealers were required to give us this information about the manufacture AND all the other car dealers throughout the country we would all still be riding horses. INCOME DISCLOSURE CLAIMS: Keep this general. Make it pertain to “active” IBO’s who have reached certain achievement and income levels. Company wide averages would be much more meaningful to a prospect. I can see no possible reason be required any personal financial information to a prospect nor have to “substantiate” it. I know some who do, but I don’t see why I should be forced to by the FTC or any other governmental agency. Thank you for giving me the opportunity to comment of the proposed set of rules. I feel very strongly that fraudulent and unscrupulous practices by a few individuals and companies needs to be addressed. I have to sell against that perception quite often. However, to tie up an entire industry in restrictive rules and regulations that hamper the ability of the honest entrepreneur to conduct a profitable business is overkill. I hope these comments are taken in the way they are intended, and that is not to let the illegal business practices of the few hamper the the ability of the many to offer a legal and profitable way to make additional income or in some cases a good living.