₦airaland Forum

uncleck:
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

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.

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.

cherryCola:
Because 90% of them are working for someone.

Food for your brain .

saintruky:
I very much agree with u... But first it's best to ask d op if he actually rode d keke himself n which state or city did he operate....

Matheusmartin:
.
where did you get your stats from?

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

Dozie32:
Rearing cat fish is better than transportation business.

Digitallegendzx:
Both parties are on point...

Digitallegendzx:
Both parties are on point...

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.

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 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.

SKINDOGGY:
Haha my sis just finish advising me right now make i no venture into am unless I get strength to dy shout

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.

Nsiehi:
@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.

Thanksful:
There's no successful keke driver. All keke drivers are seriously struggling but they will not tell you.

Do you know how much government make off them through all these thugs littered along our roads?

AlhajiBitcoin:
The only Keke driver that was faithful was finding it difficult to balance N10k per week as at 6 years ago.

The second driver was just a mugu, likes being chased about. 2 weeks owner won't see money or Keke.

All of them staying in Face me I face you.

Where is the N5k per day?

Oldmansense:
That may be true. But in this part of Nigeria, you only buy your daily work permit of 2h and 7500 riders permit sticker. Ensure you have a valid driver's licence and vehicle particulars. But if you want to work without licence and particulars, you will have to ply streets and avoid major roads where police and road Safety Mount road blocks

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

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.

cherryCola:
Because 90% of them are working for someone.

Food for your brain .

Rubby007:
Lols! Let us laff a bit have u ever had to spoon feed a mechanice for good three days just because u want he to help u fix ur keke?
Ur wife will ask of the keke u will have to lie cuz you yourself can't fathom the fact that u want to fix just ring an its taking a whole week. To potress your point hire purchase now is 1.5million which will take 2 good years to pay up how will that be possible? I don't know o