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Posted on Wed, 11/23/2011 - 04:36 PM by
viewed 61 times
And, I’m very happy about that.
The Federal Trade Commission (FTC), has just amended their Business Opportunity Rule. This massive document now includes…you guessed it, those ridiculous envelope-stuffing business opportunity companies.
Business Opportunities are quite different from Franchise Business Opportunities. Read about the differences, and then stop back.
According to the FTC (from information that was gathered by reading thousands of comments about the proposed changes to The Rule), “Business opportunities and business format franchises are distinct business arrangements that pose very different regulatory challenges.”
Really?
Yes…really!
From the FTC;
To account for these differences, to avoid unnecessary compliance burdens, and to ensure that consumers are best protected against deceptive practices in the sale of business opportunities, the Commission has amended the interim Rule to:
(1) expand its scope to cover many business opportunities that were not covered under the interim Business Opportunity Rule
(2) streamline pre-sale disclosures
(3) prohibit various specific misrepresentations and other misleading practices often engaged in by fraudulent business opportunity sellers
(4) require that for offers conducted in Spanish or other languages besides English, that the disclosures be provided in the same language as the offer is made.
The final Rule includes an expansive definition of “business opportunity” aimed at extending the scope of the Rule to certain business opportunities – namely work-at home opportunities such as envelope-stuffing, product assembly, and medical billing –that often were not covered by the interim Business Opportunity Rule. The Commission’s law enforcement experience and complaint data show that these types of business opportunities are sources of prevalent and persistent complaints.
I can’t image why.
Here’s my rule;
If an opportunity is presented to you, and the total investment of that opportunity is $145, it’s not a real franchise business offering.
So, as you’re exploring your options, and looking for that perfect franchise business, don’t fall for something that’s a low-cost non-franchise opportunity.
Here’s a link to the entire Business Opportunity Rule from the FTC.
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