| Comment Number: | 522418-10941 |
| Received: | 7/17/2006 12:15:04 AM |
| Organization: | Gift from God Enterprises |
| Commenter: | James Tuite |
| State: | NY |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Our requests concerning the proposed Business Opportunity Rule. Please: 1. Eliminate the 7 day waiting period before registration in businesses which provide a money back guarantee for dissatisfied prospects. 2. Eliminate the 10 reference requirement. It violates the privacy of those 10 people and it jeopardizes the livelihood of the person providing those references as the prospect could easily decide to register with one of the 10 instead of him. It's like asking a store owner to give away his inventory. 3. Definitely eliminate the disclosure of past litigation requirement. It puts an onerous burden on the sponsor to dig up all this information; which in the case of Quixtar IBOs most likely doesn't even apply to him. In Quixtar we are independent business owners so each person makes their own choices supposedly in accord with the rules and regulations set forth by Quixtar. Mistakes or wrong choices another IBO made in a different line of sponsorship should not held against me and my business. Nor should allegations and possibly false accusations against Quixtar or other IBO's. It seems to me that this part of the law would hurt legitimate business while fraudulent ones would ignore the rule or find a way around it. 4.The financial disclosure requirements need to be changed to something more general but still give accurate info..like the average active IBO gross income Quixtar provides. Surely there is a way to emphasize the business is not a get- rich- quick schemewithout having to disclose one's personal finances to every prospect. That is highly invasive and burdensome. Please rethink how you would handle that. Because our type of business is dependent on a person's choices and habits and willingness to learn and probably change some things everyone progresses at their own rate. that is why there is such discrepency in the incomes people receive. What each one makes does not accurately reflect what another will make. Please be open to what the people from Quixtar and the IBOA board bring up. They work hard at providing an equal opportunity for ANYONE to succeed and prosper if they are willing to learn and work. Thank you for reading this. My wife and I have been Quixtar IBO's for 7 years. We haven't hit high levels of income but neither have we put in consistent effort. we do get a check every single month. And we have never once regretted our decision to become a part of this business. What we have learned about living our whole life, not just the business aspect has been invaluable. And the people we have met have inspired us, encouraged us and helped us. The people we listen to on tapes often speak of the thin threads that led them to this business opportunity. We'd hate to see your rule, which is well intentioned, deprive people of this chance of a lifetime. Not all will do much with it but some will soar. Please allow that opportunity to be there as you try to protect people from the vultures that prey on peoples hopes and fears to bilk them. God bless....and good luck.