If a woman around ikorodu Lagos state, Nigeria can be managing over 25 units of Tricycle( Keke Marwa) on HirePurchase basis over the years. Yes! You can manage two.

Its a Good Business that guarantees faster and double returns than keeping your money in fixed bank deposit.


Over the decades, I have discovered two major issues preventing human being from achieving their Abraham Maslow needs theory , This theory explains and summarised the 5 major needs of man.


The issues:
1.Some have business ideas that passes SWOT analysis but no finance.

2. Some have idle funds but lack business ideas.


Basically, I believe no ideas is new on earth but we only keep improving on the subsisting business ideas.


Recall "Thomas Edison's teachers said he was "too stupid to learn anything." He was fired from his first two jobs for being "non-productive." As an inventor, Edison made 1,000 unsuccessful attempts at inventing the light bulb". But later succeeded in inventing the bulbs we used in our houses today."


Most importantly, on Risk : Someone else invested in a business and failed to making ROI doesn't mean if you do it you wont succeed in it.


I purposely gave the preambles because people don't like to take risk on anything related to transportation business when mentioned. Read my lips, it's doable when you followed the laid down procedure of doing such business.



Putting 1,000,000 in bank fix deposit for one year hardly before you can get 10% interest.


Cost price : #550,000
HirePurchase: 850,000
Payment schedule : 57weeks , 15,000 weekly
Profit: 300,000


Why can not you invest that money on two unit of tricycle (kekemarwa) transport business with just addition of 100,000 for 57week. And make cool cash of 600,000.

Note: by another 37weeks in the life circle of the actual business would have generated #550,000 that can be invested again on hire purchase agreement.


Mini Suzuki : The 7 seater transport business is another cool business.

Cost of purchase: conversion, painting, documentation,fixing the seat is between 750,000- 800,000

Hire purchase : 1,200,000

Profit Margin: #400,000 -450,000
Type : Hire Purchase


Payment timeline: 20,000 per week for 60weeks.


Advice:

1. No friendship in business ensures the drivers bring two guarantors.

2. Pay lawyer between #5000 to prepare the agreement for both parties.

3. Ensure the drivers drop #60,000 -#80,000 before you handover the keke or mini bus to them.

4. Be flexible but never allowed the weekly payment to be change by the driver.

5. You can also make it daily payments into designated account.


Note: never borrow money from microfinance bank to finance this kind of project to avoid being enslaved to them and to avoid high blood pressure.

Finally, give it a trial, some other day I will share other ideas on other Big transportation business.

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this is nice..thanks op

this business has always been a prospective and lucrative business but the issue has always been getting a reliable and loyal driver

Most drivers of nowadays are usually the death of such business

this is nice..thanks op

this business has always been a prospective and lucrative business but the issue has always been getting a reliable and loyal driver

Most drivers of nowadays are usually the death of such business and that's what scares people like me away from the business

You are absolutely correct on the driver madness, their way of life is always the risk factors preventing investors in doing transportation business.But the ones who drive mine has never dissapointed.



On the high side , the one driving our hammer bus 15seater passenger for inter state services that I managed for Wole Arisekola Transport Ltd also,has not disappointed over the years.





Why the legal service is good is that it will take care up the guarantors should any serious breached of agreement.

For debt recovery through the magistrate court within 3-4months is 60,000.

To sue for the total sum
Damages
Interest rate
Legal fees.


However,Based on my experience, if my above suggested advice is adhere to religiously the risk will be reduced to the bearest minimal level and litigation will be avoided.


FYI: You can search nairaland for my whatsapp MTN number and chat me for reliable drivers.

Good concept. Keep it up.

I'm always happy whenever Transport is discussed here on Nairaland.

I'm into transportation but willing to learn from other experts in the house.

It is a very cool business and profitable..if not there won't be UberNigeria today all the way from America to our country to bring technology application and packaging into the transportation your business.


Soonest Uber will chase all the yellow taxi away and other unpackage hire transport provider.


But on the discussed Suzuki mini bus(7seater) and tricycle kekeMarwa(4 seater) class of transportation has different category and huge communters that patronise them.


Cost of maintenance cheap, low fuel consumption and quick loading etc makes them unique. Working at designated parks make them more durable.

Their life cycle ranges from 4-5years. And returns on investment( RoI )would have been made by 1year and 2months on a good motorable roads.



From those that also know the technical know how of this type of transportation. I will appreciate more comments on this mode of transportation from you Sirs/Ma's.......... If we don't share knowledge !who will?

FYI: Those who contacted me on Facebook/Twitter/kokobilesanmi and whatsapp...SayNoToRecession and start making your money now. Cheers.

This subject matter brought me in contact with another vehicle "Opel corsal 2000 model, which is still fair than keke Marwa for transport business.

As I writes, One is available for hire purchase.
Any interested individual can contact me.

Another safest and cool means of transportation if you a car owner is by joinning Uber...You can join through my signature link free of charge...

koko2007:
This subject matter brought me in contact with another vehicle "Opel corsal 2000 model, which is still fair than keke Marwa for transport business.

As I writes, One is available for hire purchase.
Any interested individual can contact me.

Good Evening sir,Please I am Interested,I am Based In Lagos.
My Contacts:08130110390 Sam.

Hello all,

Please I'm in need of a neat Toyota Hiace or Toyota Sienna for Transport business on Hire Purchase of weekly or monthly instalment (Based on Agreement by a lawyer ).

I am a resident of Ibadan and my contact is 08116733397 or e-mail aikiokin35@gmail.com

Thank you.

Learn about starting your own transportation business here!
https://www.businessplan.com.ng/commercial-transportation-business-plan-in-nigeria/

Good morning.
I have a minibus for hired purchase. Driver needed. A married man living around laokwe, awoyaya, songetedo would be highly considered. Whatsapp me on 08037640922

i am interested.
please your contact