Opened this thread partly to respond to a thread I read on front page https://www.nairaland.com/6929052/how-started-tricycle-keke-business and partly to educate those who run into a business based on hearsay.

Before I go into the main thing, let me ease your mental stress a bit. According to the guy on that thread and the analysis of many people I have read on this platform, you can save just 5000 daily, that should give you about 150k/month and 1.8 million annually. But come to think of it, how many keke operators do you see living in a good apartment? With annual net income of about 1.8 million, one should be able to afford a semi decent home; fairly nice dresses and send his children to fairly good schools. After all you can hardly see a civil servant that saves up to 150k monthly yet they live more decent life than keke riders. Why? Before I answe this question, let me say that, although I'm not sure, the OP of that thread is still new in that business; he hasn't stayed up to a year. So at the right time he will come and edit that thread.

The truth about keke business
1st scenerio: fairly used keke...
There are two major reasons why people sell their used keke.
1. The keke is faulty. Most riders have very bad maintenance culture especially those who started their keke with brand new one. They feel the machine will remain sound inspite of their abuse until it down on them that great damage has been done on the machine, they put it up for sell. If you're the unlucky buyer that would be moved by the deceptive statement "five months old", sorry will become your name.

2. The owner is having issues with the operator. The owner might just decide to sell off so as not to loose out completely. In this case, the maintenance history of the machine cannot be guaranteed because in most cases, the operator see it coming and is more concerned about how much he can make before the owner seizes it.

Whichever is the case with the keke you're buying as second hand, you're 85% probably going to suffer in the hands of mechanics just few months after purchase. You will spend the little you have saved fixing the keke and will likely spend a lot of time in mechanic workshop making it hard for you to be able to save more. After one year, instead of the 1.8 million you're have calculated initially, you might just be VERY LUCKY to see 300k. In fact this is one of the realities why keke operators can't afford fairly decent life for their family.

2nd scenerio: new keke...
If you want to get a new keke now, just budget 1 million naira. At the start you'll be making a lot of money because passengers prefer to board clean keke. Because of how much you're making, as a real niggar, you will want to love-vendor your ride so that it will become more appealing and exquisite; the satisfaction you feel while blasting jams filter into the air from your keke... you can work from morning till night without getting tired because your ride is soft... you start paying all your bills without any issue... Hardly will you realize how quickly the machine is detoriating.

The reality will set in when your engine start shorting oil. After sometime you're asked to change your piston and ring. That is the genesis of a downward spiral in your financial life.

There are two very important things everyone should know. First, the lifespan tricycle is short. Remember that keke doesn't have radiator yet many of them are three cylinder. If you're serious minded, just give your keke 6 months, maximum one year, before you replace it. Secondly, every other business appreciates while keke depreciate. From the day you bought it, it starts depreciating till you need another 1milion to buy another one. But the shocking reality is that most people can't raise that money when they need to replace it. The reason is that, the death of their machine normally comes at a time they don't expect it, and they try to maintain the old one with their savings thinking that they can use it to raise more money.

If you spent 1 million naira opening, let's say, a provision store, after one year you would be surprised how big it has grown because it grows daily. But the pain of coughing out the equivalent of your initial capital once a while just to remain in business is not easy.

Conclusion.
If you want to start a keke business just to keep yourself busy for the meantime, go ahead. But please instead of buying new keke, invest the money in a business that has growth prospect. I've not talked about how often you will scratch somebody's car and you're asked to repay it; how many times the authorities will impound your machine; God forbid you involve in accident... Everything I wrote is based on experience.

Both parties are on point...

So true. Will never advice anybody to go into this business.

Useless analysis and a poor rebuttal of the original thread. I have seen people use their keke for 6 years and still sound, I have also seen people open shops with huge capital only for it to be looted or mismanaged.

My friend bought a second hand keke late last year (october) here in kano. And a week ago he has put the keke for sale. Reason is that; there is no week he doesnt take the keke to mechanic

One thing with Nigerians any business they hear is booming they will just rush into it without doing due research.
Same way they rush saturate POS business

SUPERPACK:
Useless analysis and a poor rebuttal of the original thread. I have seen people use their keke for 6 years and still sound, I have also seen people open shops with huge capital only for it to be looted or mismanaged.

"I have SEEN..." That is how it all sound but we know better

tuclap:
My friend bought a second hand keke late last year (october) here in kano. And a week ago he has put the keke for sale. Reason is that; there is no week he doesnt take the keke to mechanic

Second hand keke will make you think your village people are after you

SUPERPACK:
Useless analysis and a poor rebuttal of the original thread. I have seen people use their keke for 6 years and still sound, I have also seen people open shops with huge capital only for it to be looted or mismanaged.

But you've never seen people whose new keke involved in accident and everything went down the drain in a twinkle of an eye. You've never also seen people who started business with little money and overtime, it grew very big. SMH

uncleck:

But you've never seen people whose new keke involved in accident and everything went down the drain in a twinkle of an eye. You've never also seen people who started business with little money and overtime, it grew very big. SMH

Life is risk, going by your analysis we should stop driving our cars since we can be involved in an accident and all money gone down the drain. What about refusing a taxi job because they can be snatched and drivers killed? Business is risk and if you don't have the balls to handle the risk go and look for a 8 to 5 job simple.

SUPERPACK:
Life is risk, going by your analysis we should stop driving our cars since we can be involved in an accident and all money gone down the drain. What about refusing a taci job because they can snatched and drivers killed? Business is risk and if you don't have the balls to handle the risk go and look for a 8 to 5 job simple.

You just like trouble

@OP, this your rebuttal post is not so on point. The other post mentioned an average of 80k per month after expenses like fueling, feeding and repairs and that one needs to acquire a sound machine to do well in the business. There are still many successful keke drivers out there. Every life endeavor has its ups and downs. For the provisions business, there is not much profit in it especially if the location is not a busy area. One sells with a profit margin between 1 and 10 Naira, you will still have to deal with thieves from time to time. If the shop is located in a rodent infested environment, sorry will be your name. One needs a lot of discipline to operate a provisions business otherwise you end up feeding your family with your wares.

OP
Everything is mindset
If your mindset is program to succeed
The law of attraction will kick in and everything will be going in your favour.
I know of a Keke rider at ibadan he bought land built house buy Micra marry wife and had plantation farm all from the Keke business.
I also know someone Oga settle with 1ml and the boy blow the profit and capital.
I also know of someone that build up from one small chemist shop to 3 now.
All is mindset
That is why gambler will win 6miliion today 3years from now money don finish

Also note most time it's not the amount you make but how you manage your money.
I know of keke driver that can eat 2k meat at a sitting. Too much flexing but no investment and always fighting with his wife.

Everybody can not be a shop owner
Likewise every body cannot be a Keke driver

You should have shared your experience without rebuttal attack on the previous thread.
Nothing worthwhile can be achieved without taking a sizable risk.
Taking a risk to achieve a goal requires courage to face the fear of uncertainty. No matter the outcome, either way, we grow through the process and become more resilient and confident.

Abilistic:
You should have shared your experience without rebuttal attack on the previous thread.
Nothing worthwhile can be achieved without taking a sizable risk.
Taking a risk to achieve a goal requires courage to face the fear of uncertainty. No matter the outcome, either way, we grow through the process and become more resilient and confident.

We take calculated risk. It is better to learn from experience than out of experience. Like I said, keke business doesn't worth it. Why invest 1milion naira in a business that has no growth prospect while there are many better alternative and better business you can do with a prospect of growth?

Y'all can go ahead and do whatever business that suits you; but I'm advising everyone, based on experience, that there's no road here. Only do keke business just to keep yourself busy, maybe in the meantime, but NEVER do it as a long term business

joinnow:
OP
Everything is mindset
If your mindset is program to succeed
The law of attraction will kick in and everything will be going in your favour.
I know of a Keke rider at ibadan he bought land built house buy Micra marry wife and had plantation farm all from the Keke business.
I also know someone Oga settle with 1ml and the boy blow the profit and capital.
I also know of someone that build up from one small chemist shop to 3 now.
All is mindset
That is why gambler will win 6miliion today 3years from now money don finish

Also note most time it's not the amount you make but how you manage your money.
I know of keke driver that can eat 2k meat at a sitting. Too much flexing but no investment and always fighting with his wife.

Everybody can not be a shop owner
Likewise every body cannot be a Keke driver

Both foo.ls and intelligent people are born everyday. They all grow up and they all die. Even your community is made up of the wise and food.ls. So because of that, it doesn't matter whether you're wise or not. Abi? That a lot of people invest in it doesn't mean it is good. There's something called the "foolish majority." You don't do business based on sentiment or emotion. I'm not a business consultant. But I only want intelligent people to learn from my experience. The rest can follow their eyes

Save yourself the stress op, many keke riders are on hired purchase, hence it mostly profit the owners. But it's also a win for the riders since atleast they will make ends meet at the end of the day, but i agree it should'nt be a long term strategy.

I agree on some points and disagree on others. I agree with buying a used Keke.... either it is already packed with trouble .... or about to be packed with trouble .... expenses to operate. Getting one for short term use ... maybe 6 months.... outcome depends on which of the two was bought. I disagree that Keke cannot be a long term success business. Wouldn't it be if someone buys new keke.... use it for maybe 6 months and selling it off and replacing it before signs of trouble ? .... always having new keke... which attract customers?

Originalsly:
I agree on some points and disagree on others. I agree with buying a used Keke.... either it is already packed with trouble .... or about to be packed with trouble .... expenses to operate. Getting one for short term use ... maybe 6 months.... outcome depends on which of the two was bought. I disagree that Keke cannot be a long term success business. Wouldn't it be if someone buys new keke.... use it for maybe 6 months and selling it off and replacing it before signs of trouble ? .... always having new keke... which attract customers?

Consider the capital and the ROI

Damnnn niggarrrr
Grab my weed to learn

Ok

WHEN I READ THE EARLIER THREAD I LAUGHED.
UNCLE IS NEW IN THE GAME.

KEKE WILL FRUSTRATE YOU AFTER 1YEAR DEPENDING ON YOUR LEVEL OF MAINTENANCE,6MONTHS IF ITS FAIRLY MAINTAINED.

YOU NEVER ADD AGBERO,POLICE AND TIMES YOU WILL SPEND AT THE MECHANIC PADDING AND SERVICING.

GATHERING #50 TILL IT BECOMES 10,000 IS TIRING,SO YOU WILL NEED REST.

CONCLUSION: THE OTHER O.P SOUNDED LIKE A YOUTUBE MOTIVATIONAL SPEAKER.

Omo

Rearing cat fish is better than transportation business.