Literally anyone could be a customer of The Legacy Company. I think the largest appeal would be to those that aren't as savvy. Seasoned investors would be more likely to manage their own rentals or be in a position where they would scoff at paying the fees and giving up the equity that Legacy would charge. There is however a large portion of the population that might benefit by converting their credit to cash.
People that have untapped credit and no know-how to capitalize on it might be interested in monthly payments in exchange for little more than their signature. While many Americans lack retirement savings, many of them pay their bills on time and might qualify for one or more mortgages. Without real estate experience they might have little success trying to finance rentals on their own.
Legacy customers would have a wide range of hobbies as people seeking to earn passive incomes span across all nearly all demographics. The same is true for vehicle types and colors. As far as TV shows it would be more useful to think about the types of shows they don't watch rather than the types of shows they do watch: most of these investors might be the type that do not frequently consume business and investment media. Some will have children and some won't. I'd imagine some might be adopted. Books and political preferences would range across the spectrum. I believe older customers would take advantage of this services in greater numbers than younger people. I don't have much in common with this group. I have owned multiple businesses and feel that I am in a decent financial position given my age and that my home and vehicles are paid off. I'd be more likely to use my credit to start a business rather than participate in such a program. I do realize however that my situation is not typical and would be happy to help people who are not investment minded earn returns.
Hi Cory,
ReplyDeleteAll I can say is wow! This avatar presentation looks incredible and I thought you did a very good job explaining the prototypical customer. Keep it up!!
Hello Cory,
ReplyDeleteI think you did an awesome job with your customer avatar. You put so much detail into it that it’s impossible not to know exactly where you’re coming from with your selection. I can definitely see the type of people you describe, and I think that with the bounds you set, you did an absolutely amazing job describing the characteristics of your customer basis.
Excellent job!
Hey Cory,
ReplyDeleteThis was a great description of your target customers. I enjoyed the different pictures and graphs throughout the post. I found it interesting how little people there are who actually save for retirement. I think you have a great opportunity here to take advantage of. Although you are not related to your target customer you are in a good position to build a relationship with them!