Write the Business Model for Affordable Co-Living in Lagos Mainland

Lagos Island and Victoria Island hold the jobs. Yaba, Surulere, and Mushin hold the affordable rents. The gap between those two realities costs young workers hours every day and thousands of naira every month in transport. Many end up sharing cramped, poorly maintained rooms with strangers in arrangements that have no formal structure, no tenant protections, and no amenity beyond a bed and a key. Co-living as a concept exists globally, but most attempts to apply it in Lagos have targeted expats or high-earning professionals, with price points that exclude the junior analyst, the call centre agent, or the recent NYSC graduate on their first formal salary. The real opportunity is in the middle: people earning between 80,000 and 250,000 naira a month who want a clean, safe, socially functional place to live near transit corridors. Your task is to produce a business model document for a co-living operator targeting this demographic in one specific mainland neighbourhood of your choice. The model should cover unit economics (rent per bed, occupancy assumptions, operating costs), a tenant acquisition approach, a basic financial projection for a 20-bed pilot, and an honest assessment of the two or three things most likely to kill the business. This is not a pitch deck, though you may include a one-page summary slide. The core deliverable is a structured business model document of 1,500 to 2,500 words. Strong submissions will include real rent data from the chosen neighbourhood, not assumed figures, and will engage honestly with the specific risks of operating a shared-living facility in Lagos, including security, utilities, and tenant turnover.