16. THE ISSUER - BODY CORPORATES
Audio Transcript Auto-generated
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hi there and welcome my best guess.
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You must have have been referred to us through some
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of the other body corporate or perhaps a managing agent.
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We work with loads of them helping them to
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upkeep the buildings that they are involved in.
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How would it work? You must be wondering, How does a body corporate
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fit into the pink organisation and the pink family?
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Very simply, all businesses needs upkeep
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over time. There's an endless amount of maintenance required over any building.
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Why not have an endless revenue stream to cover such ongoing
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expenses?
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Individual owners
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generally have to continuously and ongoing dick
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quite deep into their pockets to find
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additional funding and affordability in order to
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help upkeep and pay their contribution towards
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the overall upkeep of overall building.
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Imagine if individual owners could, simply,
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through their normal everyday expenditure,
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contribute to upkeep without it costing them at anymore.
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Even better still,
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if individual owners can, through saving money,
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help up keep the building that they also own within a particular complex,
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anybody corporate
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can register and become a pink issuer for free.
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Now how would that even work?
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Well,
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the individual owners, the body corporate,
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go out to the individual owners introduce them to our programme.
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They spend money on everyday stuff,
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whether they go and eat out or
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buy products and services that they require anyhow.
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And the bottom line is the body corporate
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by registering as a free pink
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issuer
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and
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simply introduced they
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members and individual owners and ask them to join the programme.
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Obviously,
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the benefit is that it helps and
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assist with the funding that's needed continuously,
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an ongoing with the upkeep.
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The body corporate, of course, benefits dramatically through,
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firstly empowering their members and the owners.
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The members and the owners obviously got more spendable money,
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but at the same time they earn
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a revenue stream from the members activities
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their members would register, be it as a free member.
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And wherever they go and spend whatever goods and services they might need,
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they get the benefit of a discount structures within the pink structure.
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At the same time,
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they might want to upgrade and become a dream what we call a premium member,
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in which case there's also membership fees, which is also shared.
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And even if I just spent and reminder Free Member, there's even there.
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There's transaction fees that they're a financial reward to the body. Corporate.
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The individual owners, of course,
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benefits because they got access to discounts
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that they wouldn't have otherwise have had,
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but on products they require for everyday living,
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the individual owners benefit as a result of a discount and the loyalty programme.
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By increasing their spending power,
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they just simply, in a nutshell, have more money to spend.
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At the same time, the individual owners,
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assuming the body corporate is registered as an issuer,
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now have additional revenue stream to attend to the
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upkeep and maintenance of the building in question.
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And that simply means they got a dick
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less into and less frequently into their pocket and come
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up with less money in order to upkeep the building.
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Of course, the body corporate has got more income now,
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as a result of this additional income stream that they never had,
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which allows them to do more,
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upgrade work more frequently and improve the overall condition everybody wins.
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How does this practically working everyday life?
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Well, the body corporate simply registers as a free issuer with pink.
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There is some contractual documentation that needs to be done,
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but it's very quickly very straightforward, very simple to do.
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Once it's registered,
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um,
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the
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body corporate would receive its own unique QR
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code that specifically linked us to that body,
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corporate.
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And, of course, the body.
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Corporate then takes that QR code distributed amongst the owners and ask
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them and explain to them that wherever they go and shop,
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assuming they download our APP,
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scan your QR code as a body corporate that will then track them.
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It will,
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firstly allow the owners to receive discounts on the products as mentioned.
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Before that, they would have bought anyway,
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except that they wouldn't have had the discount. Now they got the discount,
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which means they better off.
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And at the same time,
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the body corporate is now unlocking additional source of revenue.
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The members, they simply an owner, scan the body Corporate Q archive,
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proceed to the APP store, download the APP,
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make sure they linked to the body corporate
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and the body corporate
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through the QR kite
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can at any point in time, log into their back office,
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see what the spending patterns is of a members and so on,
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and they just simply have the benefit of those additional revenue streams
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When members and owners
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spend money, the body, corporate and revenue from the members from the merchants.
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Uh,
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every time when a member goes to
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a particular whatever store participating merchant,
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there's a transaction fee and that transaction fee we refer to as a friendship fee.
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Uh, the fee itself is 3%
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on the transaction value after discounts.
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So the merchants is more than happy to pay
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that minimal fee for acquiring a new customer.
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At the same time that customers always linked to that body, corporate
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and the body corporate continuously, an ongoing received that
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portion
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10% of a 3% transaction fee. In fact,
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every single time when their members go and shop.
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And, of course, it all works back to numbers.
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Um, in the end, when their members shop the issuing body in this case,
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the body corporate will earn 10% of a 3% friendship.
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Feed
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equally the issuing body, in this case, the body corporate,
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because there's no question their members would probably start as
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a free member and then upgrade to a paid member
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either way, whether they take up the paid membership or the free membership.
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Either way, um,
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if I take the 3% the free version upfront and then the paid version later on.
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Either way that is tracked back to the body. Corporate and the issuing body
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then earns 25% of that fee.
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The fees obviously vary from country to country,
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but you can get more information from your local sales representative.
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Now let's firstly look at it now where all the pieces fit together.
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Firstly, the body corporate built in built up
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a continuous stream of additional revenue based on everyday products that the
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members and owners of these different individual units within a building block
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continuously go and spend for what they need for their everyday living.
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Naturally, the owners have less, uh, upkeep expenses.
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And at the same time they have
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improved buying power through the discount and loyalty
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structures that they received now on products they consume day in and day out,
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which they wouldn't have had if they weren't part of a community
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at the same time.
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Of course, for the building, it has a dramatically positive impact,
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very substantial.
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Uh, there is now much more affordability to do maintenance,
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whether it's from small projects to bigger projects and all of
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which is absolutely critical to maintain the building and pristine condition,
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which is crucial for the continuous value
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growth of this particular property in question.
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The merchants, um,
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who pay the transaction fees per se or the friendship fee.
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They're more than happy to pay 3% transaction fee because of a new customer.
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If they were to find the new customer and alternative ways,
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it would have been spending a lot of money
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through very expensive advertising and so on.
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So it allows them amazing opportunity for new customer acquisition,
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very inexpensive and at the same time, a law, the reward programme that,
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from a merchant's point of view,
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keep on making sure that the customer in
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question keeps on coming back supporting their business.
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Of course, for my pink point of view,
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the community continuously grow and everybody is
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benefiting everybody within that particular community.
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Be sure to contact your local pink representative today,
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And don't wait until there is substantial, uh, maintenance needed.
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Start building up now
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for perhaps a painting project that needs to be done. I don't know.
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Maybe in a year or two from now.
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By that time,
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there is more than enough funds in the kitty to
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more than handsomely cover whatever expenses that lies ahead.
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So it all depends what your strategy. But I would urge you to
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reach out to your local pink representative today. And don't waste any time.
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Once that's all set up, go and reach out to your community.
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Explain to them how through forward thinking,
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the body corporate is also assisting the entire
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community of onus within that particular building.
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I wish you well looking forward to seeing you down the right.