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A Co-operation (Co-op) is a Company Formation which allows a group of people to buy a product or a service in bulk. All the members (owners) of the Co-op need to only buy from this group. All profits (surpluses) are divided.
For example, the Co-op consisting of 20 members buys 1000 liters of milk and sells it in 1 liter containers to their members as well as the public. The Co-op has produced R 2000 in profit after expenses. This means that each member has made R 100 in profit. See below:
There are three keys to the success of a Co-op:
1. Many members must be part of the Co-operative.
2. Everyone must buy their products from the Co-op so that the Co-operative can buy products in bulk.
3. Profits must be well managed by trustworthy individuals and it is possible for a Co-operative to manage R millions.