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Pls Advise: Taxi Cab Or A Betting Shop by femijck(m): 2:37pm On Mar 15, 2016
Left my previous job in january, and things hasn't been easy..now going for a loan of 350k....pls from experience, which one would u advise....pls i need this advise...
Thanks
Re: Pls Advise: Taxi Cab Or A Betting Shop by RollingFellas: 4:38pm On Mar 15, 2016
femijck:
Left my previous job in january, and things hasn't been easy..now going for a loan of 350k....pls from experience, which one would u advise....pls i need this advise...
Thanks

Taxi cab. But 350k is quite low for a good tokunbo vehicle, except you intend going for Naija used.

1 Like

Re: Pls Advise: Taxi Cab Or A Betting Shop by Danfuster(m): 4:40pm On Mar 15, 2016
Personally... I'd say taxi cab if you're gonna be driving it yourself. But you have to be strategic about it. If you're in Lagos, you can target early morning commuters from mainland to the Highland. You need to work your peek and off peek period... Else you waist, time, money and ware your car. If you're consistent you should be able to have consistent early morning customers you commute to a closely joint destination.

I intend doing something similar soon, just want it to be different. Imagine you have a toyota hi-ace bus 18 passenger with consistent customer from iyana-ipaja to CMS and fare is 500 (to and fro)

Thats : 500×16= 8000 (per day)

We have 5 working days

8000x5= 40000 (per week)

Then we go ahead and multiply by 4 weeks

4000x4= 160,000 (per month)

Imagine what you'd be earning per year and you're not working full time, just one trip in the morning and another in the evening. Remember this is minus the owambe functions where your bus get hired on weekends which you can make a remarkable amount like 15k-35k depending on the distance and bargaining skill. You can never spend more than 20k monthly for maintenance, even if you do...you can't spend such the following month as you're not working your bus to death.

#ThinkAboutIt

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Re: Pls Advise: Taxi Cab Or A Betting Shop by RollingFellas: 4:43pm On Mar 15, 2016
femijck:
Left my previous job in january, and things hasn't been easy..now going for a loan of 350k....pls from experience, which one would u advise....pls i need this advise...
Thanks

Taxi cab. But 350k is quite low for a good tokunbo vehicle, except you intend going for Naija used. With discipline, dedication and perseverance, you will grow by buying more taxi cabs and expanding. Also, transport business brings in regular cash flow and also very lucrative with adequate planning and strategy.
Re: Pls Advise: Taxi Cab Or A Betting Shop by femijck(m): 7:21pm On Mar 15, 2016
Danfuster:
Personally... I'd say taxi cab if you're gonna be driving it yourself. But you have to be strategic about it. If you're in Lagos, you can target early morning commuters from mainland to the Highland. You need to work your peek and off peek period... Else you waist, time, money and ware your car. If you're consistent you should be able to have consistent early morning customers you commute to a closely joint destination.

I intend doing something similar soon, just want it to be different. Imagine you have a toyota hi-ace bus 18 passenger with consistent customer from iyana-ipaja to CMS and fare is 500 (to and fro)

Thats : 500×16= 8000 (per day)

We have 5 working days

8000x5= 40000 (per week)

Then we go ahead and multiply by 4 weeks

4000x4= 160,000 (per month)

Imagine what you'd be earning per year and you're not working full time, just one trip in the morning and another in the evening. Remember this is minus the owambe functions where your bus get hired on weekends which you can make a remarkable amount like 15k-35k depending on the distance and bargaining skill. You can never spend more than 20k monthly for maintenance, even if you do...you can't spend such the following month as you're not working your bus to death.

#ThinkAboutIt
good one bro...so love the calculation.,i stay in sango so im targeting sango-abeokuta @400naira ...1 round in the morning, 1 in the evening ...that is 8k/day....8k x 6days. 48k/week
Re: Pls Advise: Taxi Cab Or A Betting Shop by femijck(m): 7:23pm On Mar 15, 2016
RollingFellas:


Taxi cab. But 350k is quite low for a good tokunbo vehicle, except you intend going for Naija used. With discipline, dedication and perseverance, you will grow by buying more taxi cabs and expanding. Also, transport business brings in regular cash flow and also very lucrative with adequate planning and strategy.
yea but my mechanic uncle promise to get me a gud naija use at that price...what do u think?

1 Like

Re: Pls Advise: Taxi Cab Or A Betting Shop by Danfuster(m): 8:05pm On Mar 15, 2016
femijck:
good one bro...so love the calculation.,i stay in sango so im targeting sango-abeokuta @400naira ...1 round in the morning, 1 in the evening ...that is 8k/day....8k x 6days. 48k/week


Good one. You have to be determined and be content, early morning and evening is the best way to avoid associating and harassment of touts/agbero
Re: Pls Advise: Taxi Cab Or A Betting Shop by ogawisdom(m): 8:08pm On Mar 15, 2016
Danfuster:
Personally... I'd say taxi cab if you're gonna be driving it yourself. But you have to be strategic about it. If you're in Lagos, you can target early morning commuters from mainland to the Highland. You need to work your peek and off peek period... Else you waist, time, money and ware your car. If you're consistent you should be able to have consistent early morning customers you commute to a closely joint destination.

I intend doing something similar soon, just want it to be different. Imagine you have a toyota hi-ace bus 18 passenger with consistent customer from iyana-ipaja to CMS and fare is 500 (to and fro)

Thats : 500×16= 8000 (per day)

We have 5 working days

8000x5= 40000 (per week)

Then we go ahead and multiply by 4 weeks

4000x4= 160,000 (per month)

Imagine what you'd be earning per year and you're not working full time, just one trip in the morning and another in the evening. Remember this is minus the owambe functions where your bus get hired on weekends which you can make a remarkable amount like 15k-35k depending on the distance and bargaining skill. You can never spend more than 20k monthly for maintenance, even if you do...you can't spend such the following month as you're not working your bus to death.

#ThinkAboutIt

Use insurance ooo BC there could be accident in d first week n d bus damage beyond repair or d bus can b stolenangry

Not to scare u but dts d risk in d biz
Re: Pls Advise: Taxi Cab Or A Betting Shop by SurefireAsoOke: 8:17pm On Mar 15, 2016
U Can Manage The 2.
U'll Be The One To Drive The Taxi While U Employ Sum1 To Manage The Bet Shop For U. But Mak Sure U Understand Hw The Bet Shop Is Been Operated Cos Those Worker @ Bet Shop Can Ruin Any JJC Boss
Re: Pls Advise: Taxi Cab Or A Betting Shop by bemagnify: 8:37pm On Mar 15, 2016
femijck:
Left my previous job in january, and things hasn't been easy..now going for a loan of 350k....pls from experience, which one would u advise....pls i need this advise...
Thanks
am in need of 100k loan to execute a business plan,,,pls how do u get ur loan
Re: Pls Advise: Taxi Cab Or A Betting Shop by Danfuster(m): 9:12pm On Mar 15, 2016
ogawisdom:


Use insurance ooo BC there could be accident in d first week n d bus damage beyond repair or d bus can b stolenangry

Not to scare u but dts d risk in d biz


Will look into that, thanks tho

1 Like

Re: Pls Advise: Taxi Cab Or A Betting Shop by femijck(m): 9:32pm On Mar 15, 2016
bemagnify:
am in need of 100k loan to execute a business plan,,,pls how do u get ur loan
loan is actually frm a family member.

1 Like

Re: Pls Advise: Taxi Cab Or A Betting Shop by RollingFellas: 11:10pm On Mar 15, 2016
femijck:
yea but my mechanic uncle promise to get me a gud naija use at that price...what do u think?
Re: Pls Advise: Taxi Cab Or A Betting Shop by RollingFellas: 11:17pm On Mar 15, 2016
femijck:
yea but my mechanic uncle promise to get me a gud naija use at that price...what do u think?

Personally, I have always advocated good Tokunbo or new vehicles for transport business. This is because the wear and tear already in good tokunbo vehicles as at time of purchase is minimal when compared to that of Naija used. However, if you get a well maintained Naija used for a start with your budget, you can start with that, provided you have a very good mechanic at your berk and call. Once you're able to make money to get a tokunbo car, you can give the Naija used you've used out to another driver (or you sell and add money to it to get a bus, mini van or a better car) while you drive the tokunbo car. On opening a bet shop, I have never liked betting. I don't think Its a realistic and practical business you can have total control of its cash flow. Besides, it's simply gambling. Its a game of chance. Why should one hinge business cash flow on chance? My opinion though....
Re: Pls Advise: Taxi Cab Or A Betting Shop by bemagnify: 10:51am On Mar 16, 2016
femijck:
loan is actually frm a family member.
ok bro
Re: Pls Advise: Taxi Cab Or A Betting Shop by baddooski: 10:50am On Mar 18, 2016
bemagnify:
am in need of 100k loan to execute a business plan,,,pls how do u get ur loan
what happen to punting?
Re: Pls Advise: Taxi Cab Or A Betting Shop by akanniade10(m): 6:08pm On Apr 05, 2016
RollingFellas:

Taxi cab.
ogawisdom:

Use insurance ooo
RollingFellas:

Personally, I have always advocated good Tokunbo or new vehicles for transport business.


Watch words.... You 'll never regret it. Make sure you drive the car yourself

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