uncleck:
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.

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

nashito:
This fuckin business is what made me broke somehow until. I’ve been regaining my stand. Bought 4 once for #660k. Coupling etc #20k, Reg no: #20k.

I never made up to 1.5m after investing #4m.
Na so so stories the drivers dey talk every other Friday. Some will even turn off their phones, someone will involve in accident and incure damages you’ll still bring out from the savings money to fix .

Abeg, before you invest in Nigeria, make sure you’re present or you maintain a highly regulated rules & regulations accepted in your business and when someone goes contrary to that, be it family or friends, be ready to scrap them or Nigerians will take your business and hard earned money for ride with the believe that Oga has plenty money

Jecci:
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

Adakintroy:
Lazy man mindset.

First of all there one point you left out. Your individuality. It's incumbent on every man to be true to themselves in all things and be hardworking. Hard work Trump all. There is work and there is hardwork.

Some go to work and tell stories,close anytime with no decipline. Then they come out and complain when they don't meet target. Some take advantages of the extra layer of time rather than 7 work themselves till 10/11. You will be shock how much extra 3hrs shift will generation if you multiply the difference by let's say 30days or 6months. Most people don't look to themselves as the real problem they too busy making attributions.

I got my first bike in delivery here in Lagos fairly use q links. It was in decent condition so I guess I was lucky. But I loved my bike so I treat it with respect. I change the oil regularly. Attend to the brake pads. when ever I hear any noise it's straight to my mechanics. not that I had much. But this things are like mans health early direction is key. Cut a long story short I have bought five bikes in between in a space of two yrs. Employ an extra hand. It's on 45k salary monthly. And am just gething started. Bros wetin the first guy talk about Keke as good, he no lie to me he even play it down. na your honest inpute and hard work. For any set it comes down to individuality. How bad you want it will determine you inpute. You inpute ultimately determine your salary. That's were it end.

If you really want to work. Get a decent Keke. There are good mechanics that will tell you what to do before you spend x amount you are good. The rest na ur competitve spirit. Or hussling spirit as we de talk.

Oldmansense:

Don't ask op come and ask me. Don't criticize what you have never tried delegently. I live in an estate here with my Keke. Lemme burst your bubble...my friend that i assisted in getting an apartment in my compound owns up to 30 units of keke. Right now he owns a spare parts shop for Keke and succeeded in buying the undeveloped part of land remaining in my compound. Imagine a Keke rider buying land from former house of assembly member

Limassol:
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.

Celsony:

How about Uber business with ones own Toyota Corollaway car?

uncleck:

You just like trouble

gypsey:
He is arguing against himself what a dumbo

Matheusmartin:

if keke drivers make such money as claimed, why can't they afford decent life style??

food for thought.

Dozie32:
Rearing cat fish is better than transportation business.

uncleck:

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

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

uncleck:

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

agentarcher:
Your observations are what most pass through. People commenting about one person that bought land with it don't know how to base conclusions. You can not say because you saw one man succeeding in a business and conclude that business is good. You look at it from the majority. I have a friends who repair Keke, and they would tell you driving Keke is very difficult. You spend a lot on repairs and police settlement. I have seen people enjoying from it, but I can't count up to ten people. You might be lucky to get hired monthly for school runs and other things. People like this use the daily hustle to settle daily expenses. When they get paid for the school runs service they provide, that goes into something else. Some Keke drivers also have other hustle apart from the Keke riding business you don't know about. It's not everyone that tells you what's going on in their lives. When you see such a person booming now, you end up saying it's the Keke job that is giving him the money.

Adakintroy:
Lazy man mindset.

First of all there one point you left out. Your individuality. It's incumbent on every man to be true to themselves in all things and be hardworking. Hard work Trump all. There is work and there is hardwork.

Some go to work and tell stories,close anytime with no decipline. Then they come out and complain when they don't meet target. Some take advantages of the extra layer of time rather than 7 work themselves till 10/11. You will be shock how much extra 3hrs shift will generation if you multiply the difference by let's say 30days or 6months. Most people don't look to themselves as the real problem they too busy making attributions.

I got my first bike in delivery here in Lagos fairly use q links. It was in decent condition so I guess I was lucky. But I loved my bike so I treat it with respect. I change the oil regularly. Attend to the brake pads. when ever I hear any noise it's straight to my mechanics. not that I had much. But this things are like mans health early direction is key. Cut a long story short I have bought five bikes in between in a space of two yrs. Employ an extra hand. It's on 45k salary monthly. And am just gething started. Bros wetin the first guy talk about Keke as good, he no lie to me he even play it down. na your honest inpute and hard work. For any set it comes down to individuality. How bad you want it will determine you inpute. You inpute ultimatelytely determine your salary. That's were it end.

If you really want to work. Get a decent Keke. There are good mechanics that will tell you what to do before you spend x amount you are good. The rest na ur competive spirit. Or hussling spirit as we de talk.

youngtee5:
I disagree with all you said op. I don't know where to start cause everywhere will full
But let me correct you. 1 I have a friend who lives in 2bed rooms in abuleegba, you should know how much that cost.

2 I have seen a man that use his Keke for 8 years and is still working

3 if you can ride Keke and you have a good money management and you don't mind people looking down on you if your 8-5 job is not up to 150k pls if u can quit that job and buy a Keke ride it ur self.

My Experience
I ride Keke Monday to Friday. I rest on Saturdays sometimes on Mondays too I don't like Monday holdup
I earn 40k on average weekly I deliver 20k weekly and I do my service every 3weeks
This is my six month in the job I ply agege to ikeja

Regret
Wasting 5 years in company work Regret not starting Keke job since
2 the down side most ladies don't like it when I tell them I am a Keke rider.

ojoisimi:
.

Which police are you talking about? People should learn to comment base on context. Not everyone live in your area. Police don't disturb Keke riders in my town. There's nothing like agbero in my area. Not everyone lives in Lagos.

Selling and buying business or whatever the poster called it isn't a given.

That few people are making it from Keke business in your area doesn't mean it is so for all areas in Nigeria.

The original post for which this rebuttal was made stated clear some but not all terms and condition necessary for Keke business to thrive

SUPERPACK:
Even a 21st century illiterate feels he has a say.