| Comment Number: | 522418-12556 |
| Received: | 7/17/2006 10:50:22 PM |
| Organization: | Quixtar |
| Commenter: | Fred Fenimore |
| State: | SC |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
We have been Independent Business Owners since 1976. During this period, we have accomplished many goals from our business. We have been able to send both of our girls through college without borrowing money - profits from our business were a major part of the reason. My wife hasn't worked outside the home since 1980 because of the income from our business. Quixtar is an intregal part of our personal life as well as part of our family income. When we registered as an Independent Business Owners, we received sufficient info to make a very knowledgeable decision. When we bring people into our business, we make sure they have sufficient info to make an intelligent decision. We make sure people are aware that this is not a "get rich quick" business and that it takes time and effort as well as financial investment to make this business profitable. This info is plainly stated on literature that we give to our new IBO's. The total investment for the initial registration runs from $140 to $190, depending on which direction the the IBO wants to tailor their business. The proposed rule to have prospects wait 7 days to register their business makes absolutely no sense as it relates to Quixtar. We offer a 100% money back if they are not satisfied. The proposed rule to provide every prospect a list of 10 other IBO's in he area again makes no sense. We don't know of any other IBO's in our immediate area, especially none in our line of sponsorship. If his requirement is implented, we could see some of those people try to sponsor the prospect but pressuring them to join their organization. The proposed rule to provide a list of all lawsuits, arbitrations, etc. for the past 10 years is stupid. Every business if affected by lawsuits, etc. Do you require Ford, GM, DuPont, or others to provide a list of lawsuits to potential employees there. The proposal to supply income disclosures at all levels of income is crazy. Quixtar provides literature showing what the income potential is and what percent of the IBO's achieve those levels. The proposal to provide personal financial documents should be eliminated. I have never been given that info when I have ever purchased anything, cars, homes, computers, etc. Why should we have to divluge our personal info. Drop that requirement. Quixtar operates completely above board. If you are going to issue regulations. Target the companies making claims with no background and eliminate them from the marketplace.