| Comment Number: | 522418-11988 |
| Received: | 7/17/2006 5:17:14 PM |
| Organization: | Quixtar.com |
| Commenter: | Dale Porter |
| State: | OK |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
To The FTC, After reviewing the proposed rules that have been drafted that have been called the "Business Opportunity Rule" I found several objectional aspects to the proposal. I have been involved part time as a Independent Business Owner for over a year with Quixtar.com, an internet connected business. I only put out $72.00 for my initial enrollment, and could have left the company any received my money back if I had wanted to, for any reason; not just for allegation of misrepresentation. I have received that back from sales many times over. I agree 100% with the reason the law (Sec 5 of the FTC Act) that was written, to combat fraud and deception. However, there are at least five points to the proposed rules that really would not serve to enhance the law, in my opinion: 1) "A 7-daywaiting period" in order to sign up new members. If anyone can leave a business, receiving a refund, in a specific period of time, for any reason, why would they need to behindered in this fashion. If someone needs to develop his business to make a living, why would the law be a hindrance to this effort? 2) "Providing references" seems to me to be a very vague rule at best. We conduct Open Meetings and other training oppurtunities that give new or potential business owners ample opportunities to get personal, first hand references. 3) A "litigation list" is also really vague. Since we are a cooperative of thousands of Independent Business owners, it wasn't clear what the purpose of this would be. 4) "Income potential diclosure" while it appears to make sense from people outside this business, there is a direct connection between effort, persistence and one's ability to develop income. I know other IBOs who make hundreds of thousands per month while the majority make much less. I have never been hoodwinked into thinking that everyone was going to be a millionaire. Yet, the potential does exist for everyone to be successful, to earn a living, and to be your own boss. That is basically what everyone in this country is trying to do. 5) "Personal income acheived (disclosure)" also is a hindrance to those of us just beginning. In a way, if we are disclosing to potential new business partners exactly what we make right now, there is a deceit involved in that as well. This tells a new person nothing, except that you make less starting out, and more as the business develops. Besides, this is quite a personal issue, in my opinion. These are a few thoughts that I have. Please do not hand cuff us with regulations that do not improve the integrity of the business operation. These proposals would really hinder the beginning business owner, in my opinion.