₦airaland Forum

dapotemi:
Now this is a good point... On this platform, driver complain that riders are paying ging too low, ride is cheap.. The app company did a slight increase, plus bonus, plus regular surge, driver makes more money now, but same driver want partners to remain d same.... On friday, nearly all d babes in my office were struggling to get uber to go home.. Right in front of me ride was showing 11k to go from oniru to omole, yes traffic was huge but i shock.. A driver will pocket that one and still gives the OWNER of d car 20k at d end of d week.. I had small fuel in my car, had to quickly refil to half tank, left oniru 11pm and got to ketu 2am, my fuel was still around quarter. Maybe i use 1,200 fuel for d trip.. So if am on uber, i might pocket like 8k for that single trip, if am paying Owner per trip let assume, i will go and give him 1k...because i have been stress to achieve that.. Its not fair..

If am not mistaken, I am d first person that suggested Increase in rentals from 25k given current realities.
So don't mistake my point. The quarel I have with ur view is seeing a driver as ur staff, and fuming that he makes more money than u in the partnership.
My stand will not change, hell yes, he is allowed to make more money than u, u r an investor, he is the person running the operations. Look at it like putting ur money in fixed deposit in a bank, or capital market or stocks, u can never earn more than the guys giving you commission.
If any driver accepts 50/50 then it's because he has no choice, not because it's just/fair. My stands may sound controversial that's because I have worn both shoes and I want to be fair to both parties. I will be cruel to ask my drivers to pay me 50% of Net when they earn big and insist on 30k when they earn average. Like Deedee said, some weeks a good driver will pay his rent and have nothing left on him that's because that's all he made that week.

hopefullight:
To your quesrion, yes I can drive and I am also a Stakeholder in the industry.

If you cannot drive it for 40k others will do it.

Its dru that spoil people like u...25k weekly for a 2.5m car.

@dru23: how many years does it take you to break-even on a car with 25k?

And when your car gets damaged or misused , hope you won't come here to complain

Advision:
From a driver perspective. There was barely a weekend I didnt gross 40 - 50k (net at least 25k) even during the driest period. On public holidays/festivals, I can do 50k in 1 day if I drive morning and evenings.

Mind you these figures where made morning and evenings only because I typically hate afternoon traffic and selcting only trips to areas I consider to have good roads.

Morning rush (excluding bonus) 5am - 12noon, a driver can consistently make 8k net (Monday - Wednesday), slightly lower on Thursday and Fridays at atleast 4k net.

Nb- I did not factor afternoon and evening weekdays because I almost never did drive by then. But even fron the drivers app, with the surge that comes up at peak afternoon and late in the evening, will the driver not make something?

No serious driver should make less tha 60k net a week execpt under extraordinary circumstances. And if you make 60k and owner of the car collects 40k (2/3), it is not too much given that he owns the car, carries the risk of business failure and bares maintenance

I guess you where sleeping whe you wrote that?

izzou:
[color=royalblue]You can be actively involved. It depends on the arrangement.

Partners collecting 25k are really trying. Especially those with just one car.

I don't see how that's feasible[/color]

FACT... FOR YOU TO CALL IT A FLEET ANYWHERE FROM 5 CARS UPWARD... YOU CAN RECOUP YOUR MONEY FASTER THAT WAY...

BUT 1 0R 2 CARS IT WILL TAKE LONGER TO RECOUP .

Advision:
You best argument to kicking against 40k ia that you have driven for 6 months. Bro, it holds no water here. I will provide you a basis for my own:

Eatimates:

Corrola 2006 toks: 2.5M
Minor repairs before deplyment: 75k
Total outlay: 2.6M

**Running expense and income

1. 1st year total rental at 25k : 1200k for 12months (because its toks assume near 100% uptime)

2. Servicing every 2 months using the cheapest engine oil, oil filter: 15k per servicing (90k per year)

3. Shock absorber (35k _50k), brake parts, clutch (15-30k), tyres (30k) (twice a year at the least for a well maintained car: total is 210k)

4. Papers & comp. insurance (5%): 175k

5. Miscellaneous: 50k

Net income to partner:1.2M - 100k -210k -175k -50k = 665k

From year 2, I can bet the partner will not see 665k as car maintainance will start shooting up and he will not achieve 100% uptime.

In essence even after 5 years at 25k he may not recover his capital talk less of profit, especially if a discount factor is applied to account for time value of money.

Brother the problem is not the rental fee, the problem is your failure to analyse the ideal amount to invest and recouping strategy ...They are better car options that will save your money than corolla
..dru have always advocated for use of civics, anything above 1.5m on this hustle for car na the person Sabi in addition, you can break even faster having more than 3 cars on the platform.....

IFSHR:
Brother the problem is not the rental fee, the problem is your failure to analyse the ideal amount to invest and recouping strategy ...They are better car options that will save your money than corolla
..dru have always advocated for use of civics, anything above 1.5m on this hustle for car na the person Sabi in addition, you can break even faster having more than 3 cars on the platform.....

[color=royalblue]Dru23 imports his cars by himself, so his landing costs is below 1.5 million. Let's not use him as an example

Sir, can you kindly suggest a car that I can walk into a car stand and pick for less than 1.5 million, that is Uber standard?

Kindly help us sir[/color]

IFSHR:
How much the driver makes with a car on rental is not the business of the car owner.. the problem is not the earning, the problem is the contract details used and as well as the man management prowess of the car owner....

The average car owner don't know anything about the business, and their failure starts from asking for just any rental agreement contract they modify the name and validate the contract without personalising it to fit there preference and what they are offering..imagine a landlord in VGC using same tenancy agreement with a landlord in Akute e.t.c. Your rental agreement must represent the current economy and projected economy of the business (if not you will complain and cry everytime)

Secondly, Rental implies giving out/transfering possession of a particular thing (not ownership) to a second party for use in return for an agreed fee termed rental fee) the returns generated from the use of the item is basically the rentee largese and by law is expected to pay only the agreed rental fee.... So whether your the rentee makes more than the rental fee is that's his gain and if the rentee makes less than it that's his loss, anything other than this is just individual play of give and take. For instance: you rent out a house and the company makes a lot of money and you feel cheated, the legal thing to do is to activate the part of the contract which states the rental fee is open to renegotiation, but the question is how many of this rental contract have such provision (none that I have seen)

Thirdly, under rental especially for an item that has depreciating or appreciating attribute there must always be a well stated plan of action when it comes to maintenance and repairs, most of the rental agreement just indicate repairs and maintenance to be handled by owner (wrong move) some indicate that repairs below or above this amount (wrong move). Imagine renting a house and your bulb gets spoilt and you start disturbing your landlord (?). For car , there are two type of cost ...running cost and repair cost....running cost such as fueling, servicing buying of battery, electrical fault ought to be handled by the driver, why repairs such as engine related, gear related and other high end expenses should be handled by the renter (ownership is not transferred)

Renter (car owner) have every right to review his rental fee, very legal, that can be done reviewing the current earning possiblity, the current repair expenses, and you draw up your contract and table your offer to the rentee (driver) it's left for him to accept, reject or counter offer. (simple).

Lastly, the man management skill, if you don't possess it you have no business investing in this nature of business... You must be ready to hire, review, fire, and inspect....lack in any of those areas and you will cry bitterly...

I will restate my point, any amount the driver makes out of the car is never the business of the car owner....if you want earning to be your business, then what you have to do is employ drivers (I mooove)

This should be the closing statement of this argument. anybody that reads this and still opines contrary is unjust or is ignorant or has refused to learn.

LilX:
Please say things that are imaginary , 50k in a day ? Please are you the only bolt driver in lagos? Stop trying to prove your point wit lies . Desist from it

So if I happen to net 60k I give 40k and take home 20k?

Is this not greed?? What will 20k a week do for a married man who have 4 children to feed with? Or a bachelor taking care of unseen bills?

30k is very ok. If you are not cool with it then drive your car yourself

Where did you see 50k a day? Reread for clearer understanding. And even at that, somedays a driver can make up to 50k particularly festive days where riders may opt for offline trips.

Entitled mentality has eaten deep into your reasoning. So the owner of the car who probably makes less than 10k profit a week from the 40k is greedy, but you who did not drop a penny into the business considers 20k weekly (80k a month) too small? Do you know many of the people you see wearing suit n tie by 6am on monday dont even make up to 100k

izzou:
[color=royalblue]Dru23 imports his cars by himself, so his landing costs is below 1.5 million. Let's not use him as an example

Sir, can you kindly suggest a car that I can walk into a car stand and pick for less than 1.5 million, that is Uber standard?

Kindly help us sir[/color]

Is the 2.5m buying a new car? No.

Kia cerato, Toyota matrix, honda civics, honda CRV, I drive honda CRV currently...I bough it 800k spent less than 200k....the car don produce another honda CRV after 1.1 years ... I don't buy from abroad ...I buy here and spend 200k to put to standard...as long as the engine, gear is good...then you can bring to speed any other part without breaking the bank

IFSHR:
Brother the problem is not the rental fee, the problem is your failure to analyse the ideal amount to invest and recouping strategy ...They are better car options that will save your money than corolla
..dru have always advocated for use of civics, anything above 1.5m on this hustle for car na the person Sabi in addition, you can break even faster having more than 3 cars on the platform.....

You are very right. I exited the business when bolt came and basterdized the market with lower spec cars

dru23:
But it is not easy at all .... Having good drivers plays a major part.. So this is why my rental is 25k ... Am not saying that my method will work for EVERYONE......

I know it will not work or easy for everybody. Just an analysis

izzou:
[color=royalblue] Nothing concerns me with what the driver makes.

My own take is that with the current reality we live in, 25k will not make any car owner break even

Blackbishop, I understand the fact that Dru23 has a fleet. But what about those with just one Corolla?

100k a month and you spend a mandatory 10k plus to service. Let's not talk about if something major or minor goes bad. That's like taking 75k a month

So at what point will the person recoup his 2.5 million, and start enjoying sara money?

[/color]

Bro Na serious wahala bẹ that. Do you know the number people that contact me to get them a driver. Which turn down just to stay off talk all the time.

Advision:
Where did you see 50k a day? Reread for clearer understanding. And even at that, somedays a driver can make up to 50k particularly festive days where riders may opt for offline trips.

Entitled mentality has eaten deep into your reasoning. So the owner of the car who probably makes less than 10k profit a week from the 40k is greedy, but you who did not drop a penny into the business considers 20k weekly (80k a month) too small? Do you know many of the people you see wearing suit n tie by 6am on monday dont even make up to 100k

You make it sound like these drivers don't make expenses, see your weird calculations.

So at the bolded u envying the driver for making up to 100k a week? Sir , enter road and start driving for yourself, u expect some one to work from Monday to Sunday to take home 20k? After the stress, insults , skipping food? What is the difference between you and bolt? This is pure slavery.

Like I said , 30k per week is the best.

Advision:
Is it your application of energy or the availability of the car that provided the means to make money? If it is by application of energy, hardwork and bravery, abokis pushing wheel barrow should earn 1million a month. Alas, they cant because they only have a wheel barrow.

That you were provided a road-worthy car by the partner is the only reason you are an ehailing driver and can use your strenght to make the said millions in a year.

In reality, no partner should offer a tokunbo car for less 40k a week at the initial. Because after the first year, he will likely get strung up on repair expenses and drivers asking for a reduction in rental because the car is not in pristine condition or spend some time at the mechanic workshop every now and then.

Driver can look for another car or another source of income, he was surviving before ur car was bought. But if u insist on 50k rental, ur car will remain in ur house and gather mould
Why are we comparing a human being with a property/material thing. smh

Your Last Paragraph...I agree but not all tokunbo cars deserve 40k, there are cars that command 40k.
Current realities should be between 30k and 35k for cars of 1.8 litre engine or less.

Felicity0001:
I thought I made myself clear already on how much is ok for married couple and singles...

So where did you not understand?

As a matter of fact 25k is very very much okay generally so pets not create any form of segregation.

I read somebody said bolt has increase the fare, what kind of poor analysis is that? How much was fuel b4?

Its reasonable to say owners should increase rental fee due to inflation on cost of purchase of cars and cost of repairs and parts but to say because of surge and N70/km is not a technical way to argue at all.

Any owner that wants to rent at 30k and above should opt to hp and stop acting like you're doing the driver favour for his hard work by maintaining your own car. Mind you these drivers are only renting your car and no matter how long or how many years he uses the car on rental the car still belongs to you and not his so why should I rent a car for 30k and above? For what As as how na?!

If it's HP then the driver knows he's working to get something at the end of the contract but how certain can a driver drive on rental to buy his own car? How possible can a man with responsibilities be able to save 2.5m to buy a corolla?

So you guys should understand there's a large different btw rental and HP so why asking for same amount? Same owner on rental with a particular car for 3yrs wants 30k per week as one on HP, so tell me who is the selfish one here now?

The renter
The hirer
Or the rentee?

This your 25k argument holds no water. I am married and also on the streets of bolt

There's a standing order on the account I use for Bolt that debits N5000 everyday to my sons account. Whatever is left is what I survive with. You know what that means? If I was remitting money to a partner, I can comfortably pay 35k weekly and still have enough for myself.

Except the vehicle is a V6 that requires premium fuel, anyone giving out a vehicle for 25k is just running a charity organisation for the driver.

What I expect you to be advocating is that married men should learn to work harder than single guys since they have more bills to pay and not telling partners to dash out vehicles at 25k rentals

Blackbishop:
Bro Na serious wahala bẹ that. Do you the number people that contact me to get them a driver. Which turn down just to stay off talk all the time.

[color=royalblue] People ask me too.

The other day, I was tempted to collect a car from a partner and just use it for my business.

Every Friday to Sunday, I'll raise his 25k for him and use the rest of the week for my own wahala. But I just knew it wasn't worth it. Some other driver could use it to survive.

The matter tire person[/color]

IFSHR:
It's a major one for you to spend all energy proving that no one does it.....speak for yourself oga ade

But you sucked us in when u said "All"

Advision:
I have managed cars actively on the platform for over 3 years. In all this while, I maintained an active bolt driver account I used during the weekends when the most money were on the table.

Even without driving full time and having now retired since rentals and costs became unfavourable.

No one can run the business profitably even on 25k rental right now using tokunbo cars, not even moove with their large fleet n economies of scale. Personally when, I understood the business better, I converted all my cars to hire purchase at 35k with 300k upfront.

If there is something you think you can school me on, say it, I am listening. Dont tell you you have driven for longer than I have.

Don't say nobody, just say u couldn't.

Bobbiet:
Good evening pilots....

I'm here with a knowledge seeking question.

I'm based in Benin and I've been looking for a car to ride on e-hailing.

So last week I went to a office and was offered a car with certain criteria to meet.

About 60k deposit and 2 guarantors.

I'll balance 8k daily, 6days a week.

Car is strictly on rental.

I'll be paid 50k monthly.

Pilots in the house, is this a fair deal? Can I meet up in Benin?

My target in raising enough money to get a decent Nigerian used car in less than 5months.

U can't deliver 8k a day (48k/week) in Benin. Run from such contract.

Pearl1910:
But you sucked us in when u said "All"

I said "most" meaning not all the dashboard falls in my second opinion

LilX:
And when your car gets damaged or misused , hope you won't come here to complain

With 25k or 40k, the car will still damage....so the driver should ober use the car and net 100k weekly then pay me 25k abi?

I’m loving the new cruise here.
See 5pages and still counting...
una no dey go church ?

Partners want to share part of d National cake.
Drivers don’t want to let go of any crumbs.
I’m a spectator in this match. Let’s go


[img]https://media1./images/ec57d870d082429fa2264bd6f3a0b486/tenor.gif?itemid=7692084[/img]

hopefullight:
With 25k or 40k, the car will still damage....so the driver should over use the car and net 100k weekly then pay me 25k abi?

For them not me, like I said, I manage the vehicle like its mine , once I'm clocked 10k net, I go home. I don't work on Tuesdays, the way I take care of the car and make it in good shape. Its not easy owning a vehicle, I have to appreciate the one I have

northbird:
No one is talking about being good. Being Faithful to a cause and backing it up with actions.

For instance, after church service on Sunday. By 12 noon. I hit the road. My neighbor will be like "Are you not resting, today is Sunday , ojo isinmi things? My rest day is one of the weekdays.
I just laugh, that's religious dogma. Sunday is one of the best days to drive in Lagos.

Yet, the same people will watch premiership being played by another group of people (thousands of miles) on a Sunday too.

This still doesn't guarantee it will end well, it only maximizes the chances of success.

MrCarter577:
Actually, I didn't end the first trip, Since it was on surge, I just changed the Location to Lekki. Trip ended 6,400 for 1h.30mins. Hope it's a fair price or should be higher?

You still want more?

kanuisagoat:
Does this also apply to regular businesses? I mean, if I open a shawarma spot and employ marketers, bike riders, and someone who makes the shawarma. Do they deserve to earn more than me who invested my money since they do all the work and bear all the risk.

It's not the same, it will be the same if you only rented out the space. So let's assume you rented out the space for 10k per week, if he makes 1m that week it's still your 10k you will collect and if he makes just 2k the following week it's still your 10k you will collect

Advision:
You best argument to kicking against 40k ia that you have driven for 6 months. Bro, it holds no water here. I will provide you a basis for my own:

Eatimates:

Corrola 2006 toks: 2.5M
Minor repairs before deplyment: 75k
Total outlay: 2.6M

**Running expense and income

1. 1st year total rental at 25k : 1200k for 12months (because its toks assume near 100% uptime)

2. Servicing every 2 months using the cheapest engine oil, oil filter: 15k per servicing (90k per year)

3. Shock absorber (35k _50k), brake parts, clutch (15-30k), tyres (30k) (twice a year at the least for a well maintained car: total is 210k)

4. Papers & comp. insurance (5%): 175k

5. Miscellaneous: 50k

Net income to partner:1.2M - 100k -210k -175k -50k = 665k

From year 2, I can bet the partner will not see 665k as car maintainance will start shooting up and he will not achieve 100% uptime.

In essence even after 5 years at 25k he may not recover his capital talk less of profit, especially if a discount factor is applied to account for time value of money.

I see where you're coming from. It's gloomy.

First off, I've always posited for 30k weekly payments and Nigerian used Tokunbo standard vehicles. Another thing is that driver pays for servicing and brake parts and linkages. By the grace of God, I've been able to systematically format the strategies of 6 investors on this platform.

Estimates

Corrola 2006 : 1.4M
Matrix: 1.2m
Honda City: 900k
Kia Rio: 800k

Minor repairs before deplyment: 200k
Total outlay: 1.6M, 1.4M, 1.1M, 1M


**Running expense and income

1st year total rental at 30k : 1.56m for 12months


. Shock absorber (30k), tyres (20k) (twice a year at the least for a well maintained car: total is 220k)

Papers & comp. insurance (5%): 80k - 50k

Miscellaneous: 70k

Net income to partner:1.56M - 370k

1.190M

The problem is that ITK owners never want to see beyond their noses. I'm enjoying my Nigerian used as do many others.

Strategy is key

Advision:
From a driver perspective. There was barely a weekend I didnt gross 40 - 50k (net at least 25k) even during the driest period. On public holidays/festivals, I can do 50k in 1 day if I drive morning and evenings.

Mind you these figures where made morning and evenings only because I typically hate afternoon traffic and selcting only trips to areas I consider to have good roads.

Morning rush (excluding bonus) 5am - 12noon, a driver can consistently make 8k net (Monday - Wednesday), slightly lower on Thursday and Fridays at atleast 4k net.

Nb- I did not factor afternoon and evening weekdays because I almost never did drive by then. But even fron the drivers app, with the surge that comes up at peak afternoon and late in the evening, will the driver not make something?

No serious driver should make less tha 60k net a week execpt under extraordinary circumstances. And if you make 60k and owner of the car collects 40k (2/3), it is not too much given that he owns the car, carries the risk of business failure and bares maintenance

Wonderful. Driver will work under sun and rain from Monday to Sunday and make 60k and u will fold your legs inside ur house and collect 40k. And leave him with 20k. Fear God o.

So if u discover driver is making 120k u will demand 80k from him. That's why driver will scatter the car for u without remorse. No mercy for the wicked.

Godfather10:
With this your ideas, l wonder how you will cope if you travel abroad, nobody does all this greeting or want to know you, all they want is to get from point A to B. In a comfotable car.
I guess you are joking anyway, cos all this your fussiness will get you kicked of the platform Sharp, sharp.

l said we dey try be efficient and was told it does not compute

LilX:
I guess you where sleeping whe you wrote that?

Mesef won ask say which day?

It's obvious most of these guys don't know the realities that surrounds this job

izzou:
[color=royalblue]Dru23 imports his cars by himself, so his landing costs is below 1.5 million. Let's not use him as an example

Sir, can you kindly suggest a car that I can walk into a car stand and pick for less than 1.5 million, that is Uber standard?

Kindly help us sir[/color]

1. Volvo S40

Felicity0001:
When you get to Rome you behave like a Roman... So boss no shakings.

Mind you we also have foreigners who make use of the app here in 9ja and never for once have I heard them asking such questions... What they do is call to inform you of their whereabouts not even asking of your location.

IMO, THAT'S the ruder one. "I summon thee to my location. One dost not care where thine are or how thine approaches!"