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Danfo Business-is It Worth Investing On? - Business (2) - Nairaland

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What Business Is The Most Profitable To Invest In Nigeria / Danfo Business. How Much Do Danfo Busses/15 Passanger Busses Make / A Mini Bar,Viewing,Game Center.It's Worth Investing On In Nigeria ? Pls Advice (2) (3) (4)

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Re: Danfo Business-is It Worth Investing On? by Nobody: 5:17pm On Jan 15, 2013
drive your self,you make up to ten thousand per day, but only if you are rugged and have direct route like obalende to oshodi or oshodi to sango toll gate, every rush hour and closing time ,rest in the afternoon and resume at night.
I know of friend that lost oceanic bank job,make 6k profit per day routing end of iyana oworo-gbagada /cms obalende between 5am and 10am to 4pm and 8pm. give it to driver, then you are in loss.

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Re: Danfo Business-is It Worth Investing On? by labiola: 5:18pm On Jan 15, 2013
My guy transportation business is a lucrative one if well managed. presently, am into Danfo business and i can tell you from experience is a high risk business. Let me share my experience with you to guide you, sometimes last year i took a loan from my office and bought the Bus for N750,000, i also spent an additional N170,000 for registration, painting to Lagos colour, two new tyres and lawyer's agreement fee. I got a driver and we agreed for N1,550,000 that he will pay back for a period of one year and he will pay me N30,000 every week. I received my first payment on the 9th April, 2012 and as at today the guy has paid N900,000. In our agreement the guy should finish the payment by March 2013 but i doubt if he can meet up with the date. The challenges there is that the guy defaults in payment for logical reasons for example if there is a major repair on the bus, issue with Lasma, gear problem, sickness, accident etc. Atimes i have to treaten the guy with Lawyer to take my bus back from him. Overall, the guy has done well. if things gone according to plan one would have made about 60% profit from the investment. Would I continue on the completion of the final payment? my answer is undecide.
My advice, if you have a good driver preferable a married and responsible man it will help you, aslo try and work with any of the big boss of NURTW to help you supervise it. I wish you best of luck.

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Re: Danfo Business-is It Worth Investing On? by amiskurie(m): 5:35pm On Jan 15, 2013
Abrantie: Why is it called "Danfo"?

We call it "tro tro" in Ghana because back in the colonial days, the fare was 3 pence (tro).
uncle(abrantie),I wanted to buy some cars for commercial purpose to be place with my trusted person in ghana.hw much ghana cedis does a small car cost?
Re: Danfo Business-is It Worth Investing On? by TokyoBulls(m): 5:36pm On Jan 15, 2013
You need a lion's heart to manage 'danfo' business in Lagos. Most of the drivers in Lagos do not have your interest at heart and are freelance drivers. I will not advise anyone not 'on the streets' to invest in passenger transport in Lagos. Some people will advise you to do hire purchase but it hardly works either. Most drivers will use your bus badly and will dump it before you threaten to collect it. They will successfully (ironically) pounce on another culprit. By then, you have made less than 10% and your bus is worth about 40% or less of the value you bought it.

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Re: Danfo Business-is It Worth Investing On? by amiskurie(m): 5:45pm On Jan 15, 2013
eagle,eye:


I will use mine as an example, My driver is a middle aged family man. I went for a family man who is responsible to himself and family. He knows that if he defaults, no questions asked... I will withdraw the vehicle from him.
I have my own mechanic, he works my personal car as well the commercial vehicle. If my driver works the car, it is on his own account, unless I gave the go ahead order.
My weekly return is 25k, 4k everyday and 1k extra. If he defaults without a cogent reason, I withdraw my car.

so far, we all respect ourselves.
sounds cool,pls where do you live.I need to venture in the danfo business too.I already ventured in the truck business and I think danfo will be cool too.
What model of bus is good for the job and hw much does it cos.
DONT WORK FOR MONEY,LET UR MONEY WORK F0R U! grin

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Re: Danfo Business-is It Worth Investing On? by caesaraba(m): 5:58pm On Jan 15, 2013
eagle,eye:


I will use mine as an example, My driver is a middle aged family man. I went for a family man who is responsible to himself and family. He knows that if he defaults, no questions asked... I will withdraw the vehicle from him.
I have my own mechanic, he works my personal car as well the commercial vehicle. If my driver works the car, it is on his own account, unless I gave the go ahead order.
My weekly return is 25k, 4k everyday and 1k extra. If he defaults without a cogent reason, I withdraw my car.

so far, we all respect ourselves.

thank you joor! I'm about starting this biz (although not in Lagos). People kept bombing me with bad tales and then I got advice from someone who has been very successful in the biz.

I think many people fail in this biz cos they only view it as an easy money spinner and not a proper business.

Apart from the usual "getting of good drivers and mechanics,"

Here's what I have decided to do:
1. Open an office to face the biz (plus my other offline biz) squarely since I'm starting with 3 vehicles.
2. Take my monthly profit as a against 20 days return. The rest goes for maintenance and miscellaneous.
3. Keep my expectations at a very realistic level.
A biz like this is worth doing well. Those that succeed don't have two heads!

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Re: Danfo Business-is It Worth Investing On? by Ifemyke: 6:01pm On Jan 15, 2013
I beg you in the name of God, dont ever ever ever go into this business unless you hear from God directly and he convinces you to try it. I bought three buses and within three months I was left penniless. Be warned!
Re: Danfo Business-is It Worth Investing On? by Teejayphillip(m): 6:26pm On Jan 15, 2013
Bros u had beta say no,cos nah crious hypertension u wan gif ursef....

Afta a while,its gonna b one issue to the oda... today LASTMAN issue,2mao tyre issue,radiator,agbero's mata etc...

Dnt jus embark on it...

I wuld ave advice HIGHER PURCHASE DEAL,bur u knw ow funny pple are. They'll pay parts n leta turn it anoda tin...

Jus put ur mind off,or beta stil save enuf money n buy a brand new bus and gif it 2 dis Transport company,all u nid du is 2 provide an insurance cover 4 it... It makes mor sense dan danfo biz...

1 Like

Re: Danfo Business-is It Worth Investing On? by vanstanzy(m): 6:29pm On Jan 15, 2013
My father invested in it before and almost had a heart-attack grin grin grin. The driver was supposed to be delivering 2,500 to 3k a day, but instead would always come back everyday with 1000, 500, 200 or mosttimes even nothing. He would always claim the vehicle had one fault everyother day. The man was very dubious, of course u can hardly find a responsible person to drive ur danfo these days. Also have in mind that u alone can manage ur property well to give u the optimum performance and results, and not another.
If u can find a responsible person to drive the danfo for u. And u re ok with these Lagos (Guessing that's where u re) agberos and their BLOODY and ANNOYING owo boiz, owo chairman and co. Then u re good to go.
Re: Danfo Business-is It Worth Investing On? by SKYQUEST(m): 6:46pm On Jan 15, 2013
caesaraba:

thank you joor! I'm about starting this biz (although not in Lagos). People kept bombing me with bad tales and then I got advice from someone who has been very successful in the biz.

I think many people fail in this biz cos they only view it as an easy money spinner and not a proper business.

Apart from the usual "getting of good drivers and mechanics,"

Here's what I have decided to do:
1. Open an office to face the biz (plus my other offline biz) squarely since I'm starting with 3 vehicles.
2. Take my monthly profit as a against 20 days return. The rest goes for maintenance and miscellaneous.
3. Keep my expectations at a very realistic level.
A biz like this is worth doing well. Those that succeed don't have two heads!

why don't you experiment with one vehicle first, gather experience and decide if you will really invest in this business. doing this will limit ur loss if anything goes wrong. for me, this is a no no business!
Re: Danfo Business-is It Worth Investing On? by vanstanzy(m): 6:51pm On Jan 15, 2013
Teejayphillip: Bros u had beta say no,cos nah crious hypertension u wan gif ursef....

Afta a while,its gonna b one issue to the oda... today LASTMAN issue,2mao tyre issue,radiator,agbero's mata etc...

Dnt jus embark on it...

I wuld ave advice HIGHER PURCHASE DEAL,bur u knw ow funny pple are. They'll pay parts n leta turn it anoda tin...

Jus put ur mind off,or beta stil save enuf money n buy a brand new bus and gif it 2 dis Transport company,all u nid du is 2 provide an insurance cover 4 it... It makes mor sense dan danfo biz...

Bros, ur head e dey there! Danfo biz na "WELCOME TO HELL FIRE!".
Re: Danfo Business-is It Worth Investing On? by caesaraba(m): 7:03pm On Jan 15, 2013
SKYQUEST:

why don't you experiment with one vehicle first, gather experience and decide if you will really invest in this business. doing this will limit ur loss if anything goes wrong. for me, this is a no no business!

Thanks for the advice. But I have my reasons starting with 3. At least I won't develop "heart-attack" when one vehicle is down. Plus, I don't plan on depending solely on the revenue from the business. #trying to create multiple streams of income.
Re: Danfo Business-is It Worth Investing On? by Dagods(m): 7:07pm On Jan 15, 2013
I am a danfo driver suo sebi u be danfo driver? suo.come @op if u no sabi dis song u r pushing an aeroplane...
Re: Danfo Business-is It Worth Investing On? by vanstanzy(m): 7:18pm On Jan 15, 2013
Ericomoto: I MADE THE FRONT PAGE AT LAST grin

Thanks all, I need people who have done this business before or still doing it to please advice me. I want to learn more before venturing.

Venture into hire purchase instead its much less strenuous and profitable. smiley smiley smiley smiley smiley
Re: Danfo Business-is It Worth Investing On? by Thereishel: 7:21pm On Jan 15, 2013
Go and invest into other business. You would be frustated out of it. I have a friend who did this for a while when i was in Nigeria and i am talking from experience. The driver would work full days after which he would tell you he was with mechanics through out the day. He would have bargained with a mechanic who will testify and share ur money. The money you made would be taken eventually by drivers sometimes. He would tell you that you need to buy some parts either inflate the prize or not buying nothing except you are a mechanic. It only pays for the drivers. When you send your driver on a route, he would go to another one especially long distance and your bus may not last and service may take toil on ur wallet and bus.
Re: Danfo Business-is It Worth Investing On? by visafoneng: 7:31pm On Jan 15, 2013
there is definitely no business without risk in this world though some are with low risk. my advice is invest or start with money you can afford to loose without breaking down
Re: Danfo Business-is It Worth Investing On? by zeennurei(m): 7:42pm On Jan 15, 2013
My Friend carry on venture in it every business has its on riks, am also into similar business but not Damfo it really pays if you get a God fearing Driver.
Re: Danfo Business-is It Worth Investing On? by eagleeye2: 7:49pm On Jan 15, 2013
amiskurie: sounds cool,pls where do you live.I need to venture in the danfo business too.I already ventured in the truck business and I think danfo will be cool too.
What model of bus is good for the job and hw much does it cos.
DONT WORK FOR MONEY,LET UR MONEY WORK F0R U! grin

I stay in the east and I use a sienna van for the biz.

Every biz is risky, but if you don't take risk how will you succeed. It is better to try and fail, than not to try at all.

1 Like

Re: Danfo Business-is It Worth Investing On? by caesaraba(m): 8:00pm On Jan 15, 2013
eagle,eye:


I stay in the east and I use a sienna van for the biz.

Every biz is risky, but if you don't take risk how will you succeed. It is better to try and fail, than not to try at all.

Thank u my broda!
Re: Danfo Business-is It Worth Investing On? by sylve11: 8:01pm On Jan 15, 2013
Ifemyke: I beg you in the name of God, dont ever ever ever go into this business unless you hear from God directly and he convinces you to try it. I bought three buses and within three months I was left penniless. Be warned!

how does one hear from God! cool
Re: Danfo Business-is It Worth Investing On? by ABsI1: 8:08pm On Jan 15, 2013
U heard daily delivery is 4k shei? Dats all u will eva hear. U wont see a dime i bet u. All u will see is an eva rising blood pressure&if care is not taken an early grave. Trust me dis from experience. A stitch in time saves 9, to be forewarned........................................
Re: Danfo Business-is It Worth Investing On? by iykemyke: 8:27pm On Jan 15, 2013
Ericomoto: I intend buying a bus to start a Danfo business. I hear daily delivery is 4k. Please anyone who has done this before should share their experiences
am planning of doing same but by my own observation if u real on daily remittance u will not enjoy it, so the best plan is hire purchase. buy the bus say 500k fix it 1.3 or based on negotiaton. The remittance will be weekly. I bet u, u will have peace of mind and the driver will not disappoint cos he sees the bus as his own also.
Re: Danfo Business-is It Worth Investing On? by benzion72(m): 8:38pm On Jan 15, 2013
Danfo Biz is lucrative. But the caveate is that you can never get a good driver even a kinsman will dupe you. The best you can do is drive it yourself that is what I used to do as a bank worker then From Jakande Estate Ipaja to Ikeja Inside, to Oshodi. Another option is to buy and sell on higher purchase. To gain an inshight to life of Danfo watch Osofia Danfo Driver you will see the life of a driver. I remember a portion where Osofia as a driver brought Fridge compressor to the owner that it is what has just spoiled in the Danfo, if you are not well versed like that the owner. You will pay

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Re: Danfo Business-is It Worth Investing On? by Ninilowo(m): 10:33pm On Jan 15, 2013
vveeeeryyyy profitable. Just write ur will and get a relliable lawyer to handle it in case you kpai along the line especially if na ur pension or cooperative loan una take buy the vehicle grin

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Re: Danfo Business-is It Worth Investing On? by samfibby(m): 10:42pm On Jan 15, 2013
My family use to own one, thank god we gave it out on time. From experience, only 20% of investors make anything out of this business. Reasons why this business fails are:
Corrupt lastma officers, VIO, ever greedy policemen, greedy drivers.
To suceed in this business, get a good mechanic with sound knowledge of danfo bus, get a middle aged family man as your driver (preferably a ibo man or calabar) or better still be ur own driver.

1 Like

Re: Danfo Business-is It Worth Investing On? by eagleeye2: 11:18pm On Jan 15, 2013
Maybe the failure rate is higher in Lagos than elsewhere because LASMA, etc. But I believe that this failure rate has not made Danfo owner's in the same Lagos to reduce.
Anyway, I stay in the east and I am registered under one of those established transport company (more or less a Franchise). I don't even see my car from week to week. I only get to see it when it is time for servicing.

OP, I believe you are literate/learned it's time you school yourself in the financial world or you can take your money to a less risky business that will give you "peace of mind".
Re: Danfo Business-is It Worth Investing On? by eagleeye2: 11:21pm On Jan 15, 2013
Like I said earlier on this thread, my parents equally ventured into transport biz, but they failed. It didn't deter me. Rather I learned from their failure.
Re: Danfo Business-is It Worth Investing On? by Nobody: 11:25pm On Jan 15, 2013
i have a friend who did it, in one year he got his money back and over, he wants to sell the bus now at the same price he got it and he is already having good deal on it. he first started with hire, and for one reason or the other the driver dropped the key willingly (though he was delivering consistently). he got another driver but on daily return.

told my hubby if we need to do it we will go to Lord's chosen or Deeper life (am not saying other churches dont have born agains ooo)and get someone who his pastor is the guarantor can be sure our brethren there will be faithful.

then, lets say our hausa brethren drive danfo, or guys from benue, they are faithful, my hubby's friend is doing this business in abuja and he is making it welllll, he has 5 busses, he works in lagos, his wife works is abuja who is a lawyer so she is in charge of all legal documents. he has made millions, he told my hubby some tips: he uses guys from the north and benue and he said he never use igbo guys like him that he knows what up with his igbo guys or yoruba guys.

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Re: Danfo Business-is It Worth Investing On? by Abrantie: 11:35pm On Jan 15, 2013
amiskurie: uncle(abrantie),I wanted to buy some cars for commercial purpose to be place with my trusted person in ghana.hw much ghana cedis does a small car cost?


http://www.google.com.gh/local/trader/s/Cars%20&%20Vehicles/carstrucks?skip=c
Re: Danfo Business-is It Worth Investing On? by Chinom(m): 11:35pm On Jan 15, 2013
eagle,eye:


I will use mine as an example, My driver is a middle aged family man. I went for a family man who is responsible to himself and family. He knows that if he defaults, no questions asked... I will withdraw the vehicle from him.
I have my own mechanic, he works my personal car as well the commercial vehicle. If my driver works the car, it is on his own account, unless I gave the go ahead order.
My weekly return is 25k, 4k everyday and 1k extra. If he defaults without a cogent reason, I withdraw my car.

so far, we all respect ourselves.

This is the only reasonable comment here. The rest are just too negative. Posted by people who will never be businessmen because they are too afraid and cynical. If the biz is that bad, how come we have so many buses on the road. You people are giving too much power away to the drivers. To really succeed in Danfo biz, you have to make sure you are not solely dependent on the returns from the bus for your survival.
The driver must be a married man with children. He needs the income much more than you do, so he will make sure not to lose the bus. So, if i withdraw the bus from him for 1 week, he will never mess up again when and if i give it back to him.
I have 3 buses parked in Lagos with all sorts of people begging me to drive it on whatever term i choose. I have not given them out yet because i'm not ready yet. I can assure you that once i'm ready, i will get whatever amount i plan to realise from the biz. The key is to choose a driver who needs the money more than you do and you should be ready to park the bus at any point in time. I know of drivers who fix the bus with their own money and still make their returns. Success in the Danfo biz depends on your personal situation.

7 Likes

Re: Danfo Business-is It Worth Investing On? by eagleeye2: 11:38pm On Jan 15, 2013
caropy: i have a friend who did it, in one year he got his money back and over, he wants to sell the bus now at the same price he got it and he is already having good deal on it. he first started with hire, and for one reason or the other the driver dropped the key willingly (though he was delivering consistently). he got another driver but on daily return.

told my hubby if we need to do it we will go to Lord's chosen or Deeper life and get someone who his pastor is the guarantor can be sure our brethren there will be faithful.

If it wasn't profitable, people won't be venturing into it. But in Nigeria we believe everybody is a 'Fraud'. We use the brush to paint everybody and we are surprised when the west make negative comment against us or outright discrimination.

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