profeoo:
This is a business I am presently contemplating.
Buy a keke for 400k, add other paper works to it takes you to 450k.
If you get an honest driver who will remit close to 7k to you on a weekly basis without stories, I am sure you will make your money back in 6months time.
Driving it yourself is best,although since I am currently engage, I intend to get an honest driver...there's risk in every business

Pls I beg go do your math well 7x4x6 is not up to even 200k.

Harkynkunle:

I believe the buisness scope of Danfo Is bigger and demanding than Keke... moreover i can't do with their crazy acts

lol are yhu d 1 to drive it

Harkynkunle:

what's d age of the person u gave urs to... cuz as I heard...
elder ones are more reliable and serious go young chaps

well, it's a personality thing. even a younger one could do same and blame it on the union or any other body, ofcourse 'police will never be a helpful friend ' that's why I suggest the person gets an affidavit from court.

petux:
lol are yhu d 1 to drive it

I mean Danfo drivers crazy acts

is better u hand d keke over to their union chairman , let him get his own cut every week. then be sure of ur cash every week cos those drivers don't mess with their union chairman ,else they will b out of work at that area.

teachernnaa:
is better u hand d keke over to their union chairman , let him get his own cut every week. then be sure of ur cash every week cos those drivers don't mess with their union chairman ,else they will b out of work at that area.

Av u done this buis before

Franky826:


udysweet is this happening to you? please can you share your story I really want to learn

I don't want to discourage anyone Jare the best is to get someone who won't be giving you stories upon stories. Maybe I would have just used it to do MMM, that one maybe the risk would have been worth it, lol

teachernnaa:
is better u hand d keke over to their union chairman , let him get his own cut every week. then be sure of ur cash every week cos those drivers don't mess with their union chairman ,else they will b out of work at that area.

That one is sentence to death, believe me.... The park chairman will eat your money and still find 101 ways to have better part of your money, transport money is called owo egun and before coming our for the day, he probably have a fix amount in his mind, don't let park chairman use your money to complete his house and send bad luck towards your career, to destroy cost less and these people don't care. Even before he emerge as the park chairman, he knew what he passed thro, so you case is little compare to that.

The best still remain bring your rider, avoid unnecessary favour from the chairman and pay all their fees including daily ticket if you have made up your mind, unless! chairman will so torment the rider, take the keke time to time from the rider, to the point of you not having a voice to control the rider on what you want.... #Don't go and wake sheriff

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Sharon6:
Yes, its a very profitable business. Give it out to drivers on hire purchase, tell them to pay weekly installment, don't make the payments monthly because it'll be very difficult for the drivers to save money for a month to give to you. Be very strict, don't familiarize to much with the drivers, familiarity breeds insults. Above all pray!!!


PLEASE CHECK MY SIGNATURE!

pls. Pls can i ask u some question privately. I send u pm

Xeedorf:


7k per week you mention
please request for calculator from your neigbour

sorry,i calculated based on another big I intend to complement it with. My bad

ikorodureporta:



...how did you arrive @ 6months @ 7k monthly?? 6months=26weeks; 26*l7000=N182,000...QED

my bad,I added returns from another investment. But in all,tricycle bid is cheap to start and can yield profit within a few months with proper manhandling

@woodboi, union chairman won't have access to your money,he will only look after d keke cos u will pay him like 1.5 ,2k weekly, d driver will pay direct to u , u can always call the chairman to remind or threaten him wen ever he messed up. I bet the chairman won't joke wt dat 2k. my opinion.

i duff my hat for you

moneyMouthed:

First of all, I want to applaud the OP for his foresight and quest to break out of the rat race for though the OP isn't unemployed yet deems it fit to get another stream of income by the side. That's great!


Now, my two cents goes thus; the Keke biz is lucrative but shrouded in great risks. This is a biz that I've been doing for close to two years now. Yes, I've had my trying times but yes, I've always bounced back stronger and now enjoying the fruits of my labour. Should I tell u my secrets? Ofcus, i owe it a duty to, cos I see that's why u created this thread.


I started my Keke biz with a fairly used one I bought at the cost of N168k. Did my Union registration for 3k and then I hit the road myself (as I was jobless but determined to get out of the labor market) after four days learning of how to move a tricycle and mehn, I must say it wasn't easy at all.

I had problems of changing new spare parts when they get spoilt and mind u, most Keke spare parts are more expensive than that of cars. Yes, I said so. Go make ur research. But This isnt an argumentative thread so I mustn't digress.

I had to buy tickets daily for N100 and I had to attend our weekly Union meetings twice a Month And pay my N200 attendance fee or N1000 fine if I missed a meeting.

I faced insults from passengers who felt I was a useless person just because they see me riding a tricycle (very sad especially as am a graduate with a B.sC degree, 2:1) but I wasn't deterred Nor was I discouraged.

I had another problem of charging of passengers, as in, how much do I receive per drop over a certain distance. For like a week, I rode my tricycle on borrowed money to buy fuel (Though Keke has good economy of fuel) as I undercharged my passengers. Then I asked for advice from my co tricyclist who was into it before I joined and he saw me through this problem.

The second week after I got my tricycle, I started mastering the biz knowing the ropes and making 2-3k daily after I had fed, bought the union ticket and done my fueling for the next day. On market days, I make as much as 4-5 after my daily expenses. Multiply that by 26 days cos I don't work on Sundays and you'll get how much I made monthly.


Today, I own two brand new kekes I bought from the first one I bought as a fairly used and hopefully, I'll be getting the third one by November this year.

Note: I have stopped riding now and all I do is monitor my riders and ensure they pay me as at when due. No words, no excuses, just pay me!


This brings me to what method of handling a Keke biz is the best; riding by self, daily deliver or hire purchase.

Self riding is the best for the following reasons;

1) You own the Keke and as such, u manage it to the best of ur ability

2) You keep all the money u get to urself, you don't have anybody to pressurize u

3) If u are a good planner, you strategize and create ur wealth for urself

4) Should anything get spoilt, u know it did and u decide if u wanna buy the original or fake and u know how much u spend on such

Disadvantages
- You'll be stressed out and treated like poo even by peeps hu ain't up to u in any standard

-No time for urself,

-If you're the kind hu die for ladies, u lose out as u no more have time for them

- You may break down health wise from fatigue etc etc

DAILY DELIVERE
Advantages
- Enough time for urself
- Making money on a Daily
- No stress
- Your tricycle is in ur custody
- No sweat
- No insults from passengers (FRSC,NPF)
- No Union meetings

DISADVANTAGES
- U pay for repairs whenever ur tricycle gets spoilt
- The person hu rides for u mostly rides carelessly as they know u pay for repairs
- You're at the mercy of ur rider as s/he decides days to work etc etc

HIRE PURCHASE
Advantages
- Legal machinary are in ur favor
- You can plan more on this
- Any damage or loss of ur tricycle is paid for by ur rider and/or the guarantors
- Sweatless money
- In terms of problems, the contractual agreement you, your rider, the guarantors and witness signed already states how such should be managed etc etc
- Your rider wants to own the tricycle therefore does his best to pay up before agreed date
- You can withdraw ownership of and take position of ur tricycle if ur rider defaults in payment

DISADVANTAGES
(Coming up soon)

Icecream4U:
where is the assembly plant here in Lagos?

Agidingbi.

Hello ,
I just went through your post and I know you have been well informed on how lucrative the business of keke Napep can be. You are nt making any mistakes at all,for chosing to invest your hard earned money in the ever lucrative transportation business in Nigeria especially in Lagos.
I have been in this business for some time now, though not as a driver but an agent to a company who gives out bike,keke,cars and buses to those interested in going into the business of transportation. And I can testify to the patronage from well meaning Nigerians who has moved from zero to hero in this business.
The business of keke is very lucrative and one that will rake in money for you in no time and has room for you to grow in it.

In our company we give you a brand new keke when you pay just A small amount and the balance will be spread over a period of time.

If you have the money for ONe keke,with us you can get 3 keke and we will spread the balance over a period of time.

If you need more clarifications and explanations

You can reach me. 08028503973. You will be glad you did

You can just start your own transport fleet.

Good

mrsage:
Good

Well done Sir... I will like to read more from u on this... I know u are vast in this buis sir

Harkynkunle:
Are u in the buisness...?

No...bt i knw does who ar in to it

Harkynkunle:

Well done Sir... I will like to read more from u on this...
I know u are vast in this buis sir

My opinion. It's a viable business. Transport business is a gold mine but most people don't know this and some find it difficult to manage.

For a start you can buy a used tricycle. Priority is to invest and recoup your investment fast.
Before you invest in transport always think like a business man.
It's not compulsory to start with a new Keke.

Hire purchase is a good option.

Again select your location carefully. This is very important. Most investors overlook this.

Sometimes daily /weekly returns vary based on location. Some locations have lower risk.

If you can make the rider pay an initial deposit it helps too. This is an option.

A rider who has paid some money at the beginning of the hire purchase deal has already made an investment too. It has a psychological effects on his ability to pay back.

Agreement

Have him (your rider) sign the agreement in a police station, military barracks, lawyers office or shrine if possible.

Wish you luck

mrsage:


My opinion. It's a viable business. Transport business is a gold mine but most people don't know this and some find it difficult to manage.

For a start you can buy a used tricycle. Priority is to invest and recoup your investment fast.
Before you invest in transport always think like a business man.
It's not compulsory to start with a new Keke.

Hire purchase is a good option.

Again select your location carefully. This is very important. Most investors overlook this.

Sometimes daily /weekly returns vary based on location. Some locations have lower risk.

If you can make the rider pay an initial deposit it helps too. This is an option.

A rider who has paid some money at the beginning of the hire purchase deal has already made an investment too. It has a psychological effects on his ability to pay back.

Agreement

Have him (your rider) sign the agreement in a police station, military barracks, lawyers office or shrine if possible.

Wish you luck

Thanks Sir

teachernnaa:
@woodboi, union chairman won't have access to your money,he will only look after d keke cos u will pay him like 1.5 ,2k weekly, d driver will pay direct to u , u can always call the chairman to remind or threaten him wen ever he messed up. I bet the chairman won't joke wt dat 2k. my opinion.

Yes, I understand... but when things get beyond your understanding, you Will have to result to the chairman.He may promise to get the money from the rider, the event are things you just can't predict until you find yourself with the wrong people.

Hamrad, could you please direct me to an Original TVS king tricycle spare parts importer
Thanks

Okeejoseph:
My brother to b sincere with you, it's a very very nice biz to do bt d problem is d driver, if it hpns u'll b d one driving it fine, bt if u r giving it out i tell u, u regret ever entering d biz, i leave in kano n I've done dis same biz b4, one of my drvers is very honest bt d 2nd was jst using me to get his own keke..... Is good if u use it ursef or better still go on hire purchase with d help of legal practitioners to draft agreement.

may i have ur number.

i want to ask u some on Keke napep bix.... i stayed in kano.