What does BersamaLandlord Kids & Teens mean?
The product is designed as a customer acquisition strategy towards growing Bersama Coop’s membership base and meeting financial goals. It is a structured savings plan for parents or legal guardians of children and teenagers from 0-18 years, towards specifically co-investing in/co-owning real estate assets on behalf of their children before their 18th birthday. The Cooperative is positioned to invest in high yielding real estate assets on behalf of its members, who benefit annually through surplus payouts and/or eventual capital gains from the disposal of such properties. The ownership right of the properties purchased directly through the Cooperative is vested in the children/teens, but administered by their parents until they are above 18 years and can enter into contract.
To grow share capital of Bersama Cooperative to N1billion i.e. 10,000 shares by Dec, 2020.
Philosophy and Product Design
The Landlord Kids & Teens represents a veritable method of teaching children Investment culture and the importance of starting as early as possible. BersamaLandlord Kids & Teens aims to; · Encourage savings culture for parents and legal guardians. · Promote real estate investment and property ownership as a secure investment portfolio and store of value for children. · Ensure regular, periodic payment of returns on investment either as rental income and/or capital gains. · Foster the prestige ideology and personality usually associated with owning property especially at such a young age. · Access to other value added services and benefits such as real estate investment advice from experts, access to tailored insurance services for minors, access to loans, specialized referral earnings for introducing new members(Kids and Teens) to the Cooperative etc.
Acquisition Mode and Payment Plans
To become a member of the Cooperative the following payments will be made;
Compulsory Monthly Savings= N1,250.00 (min)
Annual Administrative Fee=N3,000.00
Annual Insurance Premium=N3,000.00 (regulatory compliance)
Special Insurance Premium=N3,000.00 (for minor)
Joining Fee=N25,000.00 (one time)
Note: the table assumes that the prospective member is willing to purchase the minimum share amount, as well as the minimum savings prescribed.
Benefits to Customers
– Opportunities for the children become property owners before they turn 18 years old. – Annual dividend payout – Saving towards real estate acquisition for children through the special savings window to also earn 7%p.a. – Access to loans at very attractive interest rates to meet financial obligations – Capital growth of underlying assets over time for capital gains at disposal – Life assurance and educational cover during the period. – Special welcome gift pack upon joining – Commission earnings on referral – Birthday notifications – Access to discounted competitions, field trips and tours for kids – Invitation to the Annual Bersama Kids “n” Teens party – Free real estate investment advisory service from experts – Fully automated online platform
Benefits to BersamaCoop
– Increased share capital for investible funds in real estate and other related business opportunities – Revenue growth – Better market positioning – Help foster the promotion of the CSR initiative targeted at children. This would further enhance our brand perception. – Increased cashflow and liquidity position for optimum operational performance – Brand exposure to a new segment of the market – Increased membership base
|Market Segmentation||Target Market Priority Level|
|Location||Lagos & Abuja||Primary|
|Level of urbanization||High|
|Age||Baby Boomers: 1946 to 1964 (54-73)||Low|
|Generation X: 1965 to 1976 (43-55)||Moderate|
|Generation Y (Millennials): 1977 to 1995: (24-42)||High|
|HND/B.Sc and above||High|
|Family size||2-6 persons /Household||High|
|Household Income||Above N100,000.00||High|
- Insurance Companies
- Deposit Money Banks
- Capital market
- FGN Savings Bond and other instruments
- Finance and Investment Firms
- Sense of Pride and Prestige- “Child& Teen Landlord”
- Legacy and wealth creation for the next generation
- Diversified asset portfolio
- Future Financial Planning
- Combination of benefits offered by competitors
- Low entry barrier
- Multiple earning opportunities dividend, RoI o real estate investments, lower interest rates on loans vis a vis alternatives, referral commissions etc.
- Exclusive club of Child and Teen Landlords with associated benefits and rewards.
|Stage 1||Product Development Strategy Session|
|1. Goal Setting|
|2. Current Situation Analysis|
|3. Strategy Formulation|
|1. Resource Allocation|
|2. Detailed action planning|
|3. Assigning task champions|
|4. Execution of plans, strategies and tactics|
|Stage 3||Evaluation and Control|
|1. Monitoring of the implementation process|
|2. Periodic performance review and appraisal|
|3. Analysis and Reporting|
|Stage 1 is planned to take place on the 9th of July 2019, from 10am-4pm. Subject to approval and availability of attendees.|