i requested for Uber few Days Ago from abraham adesanya ajah to chevron and while we were on our way to my destination i asked him few questions on how he is coping with the latest development in lagos , i mean the ban on okada and keke napep and gokada , and he told me it was a blessing in disguise to them all as he has been making nothing less than 80k weekly that been said i now share my experience with him about my uber driver's who has made me shut down business due to miss management of my car's , this time last year Around March i bought 2 Car's and i gave it out to guys on hire purchase but it really din't end well as my driver's kept on giving me excuses how the business is not moving which is making him default the weekly payment of 30k , if i had knows i was sitting on a time bomb i would have collected the car back the 4th time he default in paying but i kept on holding on and giving him more time ,only for him to come back to me few weeks ago that they have stolen my car ,it came to me as a surprise as i have never heard of such . the second driver did not maintain the car well also i spent about 200k to fix the car before selling it cos the business aint worth the whole stress the drivers are giving me..

And you are thinking of reinvesting in Uber?

cRobo:
And you are thinking of reinvesting in Uber?

Yes i think i can give it a second try but this time around i have to be strict with my drivers . i think i was too soft with my previous drivers may be if i put them under a very tight condition this time around i might be lucky but what do you think ?



Anyways Check my signature to get list of properties you can buy with just 5m Naira in Lekki


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Taxi business is never worth investing on. In fact, any business that doesn't appreciate in value is not worth investing.
People make this mistake a lot by thinking buying a car as uber is a good business. Well the hard truth is, you will end up loosing your body because it doesn't appreciate in value. Now let do the math.

A good Toyota corolla cost around 1.6m naira let assume everything with license ends at 1.7m naira.

Its will take approximately 1yr 6months to recover your capital at 100k per month earning. That's if every condition is constant which it surely won't be. Now try reselling the car, it won't be sold at the purchased price because its not an asset.

Now my advice, rather than put your money in taxi business. Why not first dedicate about 3 to 6 months and to learn a valuable skill. Catering, paint making, grill making, nylon making, baking, look for a service people can't do without and learn the skill. Then go look for a location where such service is not only needed but also scarce. The location must have good purchasing power and high traffic that is , a location where middle class is more compared to the rich. As studies have shown middle class people tend to spend more so as to look like the rich.