₦airaland Forum

Pearl1910:
No it is not fair.
The price of the car doesn't matter. Fares are the same.
Reason why u should stick to the cheapest possible car so u can get ROI easy and fast. We have had this discussion before.
U can't use the excuse of my car is 7m to demand 100k weekly. Profitable Rent is currently between 40k to 60k if u like buy Rolls Royce, na u sabi.
The investors complaining the business isn't profitable are the ones without information and updates who are still collecting 25-30k rent.

They get their information from the resident "intellectuals" on Nairaland Uber thread.

obinoral1179:
You go old here your mate dey cash out but you dey do gateman..... Well done

Why are you the one replying me and not the cretin, you this female undies hawker from Jankara market. Remember what happened the last time you attempted to be the hero? Thought you would never come back here again after that, here you are.

In your small head, you are doing better than me. Lols. You must be a proper idiot to assume such nonsense. on ewurẹ

Itsrm:


This is as good as charity. I greet you boss.

Eggzactly, not good for investors at all, one repair and all the money is gone

pope191:
He even called me ordinary driver 😂😂😂 that thing pain me no be small 😂 e don born again sha

Sorry padi mi. Jebure 🙏🙏🙏

CheerfulGiver:
No Hire purchase
No long term lease

Short term 3 months lease at a time. If you're both satisfied with the initial relationship, you sign another. Win win.

If a driver isn't on their toes, they tend not to be serious. If you know that continued income is based on performance, it has a different effect on the psyche.

Ehailing has evolved, it has left people on this thread behind because they take advice from stupid people here.

I totally agree with you. Well said 👍

CheerfulGiver:
Are you charging me extra money a week because I found a way to make your payment steady while taking home more? It's like punishing a child for being exceptionally brilliant above expectations.

You should be in charge of making the car road worthy for a driver willing to pay you 65k weekly. If you want 150k weekly maybe you just leave the money on the bank and see if it makes you 150k sitting there.

Not everyone you meet online is uninformed. I didn’t get to where I am today by simply saving money in the bank. I have other ventures that can triple my earnings in a year. Just because I’m asking questions based on some comments here doesn’t mean I don’t know how to manage or invest money.

For an investor, it’s about turnover, and it seems that point is often overlooked. How many years would it take me to recover my capital of 7 million naira if I’m being paid 65k weekly? Three years?

Many people assume, “the investor just collects money while the driver does the work,” without considering the risks involved. Within those three years, inflation could devalue the investment, the car could be impounded, accidents could occur, or even natural disasters could strike. These are critical factors that must be accounted for. Who suffers? ,Driver using the car to make money or the person who invested his hard earned money buying the car in the first place?

tojahh:
This thread na baskab. See how Ministerial Servants dey lose guard for thread on a daily.
As for me and my household. We shall praise Jehovah.

Oga just talk to me directly, no dey go through corners.
😂

Djdamian:
I disagree with you on certain points. The soundness and efficiency of a car are crucial to its profitability in the e-hailing business. This is why you rarely see V8 or V6 vehicles used for this purpose. As an investor, I prioritize purchasing a reliable, high-quality vehicle, even at a higher cost, to avoid issues that could hinder a driver from meeting their targets.

Moreover, expecting an investor to accept 60k weekly while knowing that a driver makes 1 million net monthly seems unreasonable. Under such terms, it would take the investor over two and a half years just to recover their capital, let alone make a profit. Meanwhile, the driver, within the same period, could earn over 18 million.

Or am I getting it all wrong cos it's not making sense to me

This is similar to dapotemi question, but what do I know?

Djdamian:
Not everyone you meet online is uninformed. I didn’t get to where I am today by simply saving money in the bank. I have other ventures that can triple my earnings in a year. Just because I’m asking questions based on some comments here doesn’t mean I don’t know how to manage or invest money.

For an investor, it’s about turnover, and it seems that point is often overlooked. How many years would it take me to recover my capital of 7 million naira if I’m being paid 65k weekly? Three years?

Many people assume, “the investor just collects money while the driver does the work,” without considering the risks involved. Within those three years, inflation could devalue the investment, the car could be impounded, accidents could occur, or even natural disasters could strike. These are critical factors that must be accounted for. Who suffers? ,Driver using the car to make money or the person who invested his hard earned money buying the car in the first place?

You are an investor asking questions. People replying you, who are the type of high earners you need for your model to succeed KEEP telling you to NOT buy a car for 7million for this business..

But somehow, you refuse, do your permutations with 7million and you're asking me how to recoup your investment?

If you were in my shoes right now, reply yourself.

When you've accepted not to buy a car for 7 million you'll see it clearly

Djdamian:
I disagree with you on certain points. The soundness and efficiency of a car are crucial to its profitability in the e-hailing business. This is why you rarely see V8 or V6 vehicles used for this purpose. As an investor, I prioritize purchasing a reliable, high-quality vehicle, even at a higher cost, to avoid issues that could hinder a driver from meeting their targets.

Moreover, expecting an investor to accept 60k weekly while knowing that a driver makes 1 million net monthly seems unreasonable. Under such terms, it would take the investor over two and a half years just to recover their capital, let alone make a profit. Meanwhile, the driver, within the same period, could earn over 18 million.

Or am I getting it all wrong cos it's not making sense to me

The soundness of a car and expensiveness of a car are two different things.
What I am saying is get a relatively cheap car, and repair it to it's best state. Don't go and buy Corolla of 7m and expect u will get a higher rent because of the price of the car.
Buy a cheap car and make it sound.

On the second point, u as a passive partner in the business cannot possibly make close to what the driver, (the active partner) is making.
Just like Bolt charges 25% on trips.
Car owner too should be okay with a fraction of drivers average earnings.

Moove has 5000 brand new cars on the road. They don't collect 60k weekly

Shimmaa:
Shouldn't you also put other things into consideration, the 1m isn't what they take home.

You should factor other expenses into that 1m as well.


Based on some people's claim I've been seeing here, they gross 100k with 25k fuel and pay commission of 25k.

That's expense of 50% of their gross earnings, their take home from 1m monthly earnings will be 500k.
If they are paying 240k monthly out of the 500k to their supposed partners, isn't that fair enough, except their partners wants a huge chunk of their earnings...

When I mentioned net income, I had already factored in the risks and expenses you highlighted. Let’s break it down further:

Using Pearl’s example, it’s feasible to net 30k daily. Over 26 working days, that sums up to 780k monthly, which amounts to about 9 million annually. Over two years, that’s 18 million in net earnings for the driver.

Even with worst-case scenarios factored in—covering servicing, minor and major repairs, including an engine and gearbox replacement—let’s allocate 3-4 million for these expenses. That still leaves the driver with a net of around 14 million over two years.

Now, compare that to what investors are being offered—5.7 million in two years on a 7 million investment. This arrangement overwhelmingly benefits the driver while leaving the investor with minimal returns, even after considering risks and depreciation. Such a setup is not attractive for any serious investors in my opinion.


Don’t get me wrong, I’m simply curious why drivers believe owners or investors should settle for 40k-60k weekly when, based on the reported average earnings in the business, it’s clearly possible to remit 120k-150k weekly. If the numbers shared by people in the business are accurate, this expectation seems rather unfair to investors.

Djdamian:
Not everyone you meet online is uninformed. I didn’t get to where I am today by simply saving money in the bank. I have other ventures that can triple my earnings in a year. Just because I’m asking questions based on some comments here doesn’t mean I don’t know how to manage or invest money.

For an investor, it’s about turnover, and it seems that point is often overlooked. How many years would it take me to recover my capital of 7 million naira if I’m being paid 65k weekly? Three years?

Many people assume, “the investor just collects money while the driver does the work,” without considering the risks involved. Within those three years, inflation could devalue the investment, the car could be impounded, accidents could occur, or even natural disasters could strike. These are critical factors that must be accounted for. Who suffers? ,Driver using the car to make money or the person who invested his hard earned money buying the car in the first place?

I still don’t quite grasp your argument. Regarding the other factors you mentioned, how can the significant weekly return you request for protect your capital/investment if any of those factors come into play?

If you're looking for security for your car or capital, you should think about implementing some measures to ensure your safety. Requesting a huge amount in returns doesn’t provide any assurance for your car.


I feel you're focusing on the money they make...

TheModerator:
Why are you the one replying me and not the cretin, you this female undies hawker from Jankara market. Remember what happened the last time you attempted to be the hero? Thought you would never come back here again after that, here you are.

In your small head, you are doing better than me. Lols. You must be a proper idiot to assume such nonsense. on ewurẹ

STFU... He is doing better than u.
I don't know ur black ass, but I know it's dirty and poor. The person u are quoting is an importer and can feed ur generation and pay u a living wage.

Shimmaa:
I still don’t quite grasp your argument. Regarding the other factors you mentioned, how can the significant weekly return you request for protect your capital/investment if any of those factors come into play?

If you're looking for security for your car or capital, you should think about implementing some measures to ensure your safety. Requesting a huge amount in returns doesn’t provide any assurance for your car.


I feel you're focusing on the money they make...

I am focusing on getting my investment returns earlier,why wait three years when it's possible to get everything in two or less?

Djdamian:
I am focusing on getting my investments earlier,why wait three years when it's possible to get everything in two or less?

You can go ahead and buy the Corolla. Just make sure the driver you're giving it to for 140k weekly is not from this thread, and won't see this thread at all.

Djdamian:
Not everyone you meet online is uninformed. I didn’t get to where I am today by simply saving money in the bank. I have other ventures that can triple my earnings in a year. Just because I’m asking questions based on some comments here doesn’t mean I don’t know how to manage or invest money.

For an investor, it’s about turnover, and it seems that point is often overlooked. How many years would it take me to recover my capital of 7 million naira if I’m being paid 65k weekly? Three years?

Many people assume, “the investor just collects money while the driver does the work,” without considering the risks involved. Within those three years, inflation could devalue the investment, the car could be impounded, accidents could occur, or even natural disasters could strike. These are critical factors that must be accounted for. Who suffers? ,Driver using the car to make money or the person who invested his hard earned money buying the car in the first place?

You are making the points but not coming to d best conclusion. With these few points of urs u should conclude it is better to spend the least amount possible to purchasing a car rather than go for an expensive car. So that u can get back ur investment and start making profit in good time .

Secondly, people tend to forget that ur car is a tangible capital, it's not like rent or recurring costs... U can chose to sell it and make back mur money, a fraction of it or even more. Therefore all the rentals u have been collecting is basically ur profits.

Gentlelife50:
Oga just talk to me directly, no dey go through corners.
😂

Na to begin report Una to circuit overseer

CheerfulGiver:
The major difference between a car owner and a renter is just a psychological difference. If a car owner nets 200k weekly, and a rental guy nets 200k weekly, apart from the remittance the rental guy pays, what's the difference between the two?

From a car owner's angle.
However, from personal observation, 90% (or above) of drivers making contributions here are owner-drivers.
I no dey see rental guys contributing. It's either dey come and lament once in blue moon, or they stay silent as ghost readers, or show up when they see giveaway.
Na why I just kuku put my point in the bracket of car owners.
And yeah, rental guys can make the same, I concour.
Anybody can make it definitely.


Much respect, boss.

Djdamian:
I am focusing on getting my investments return earlier,why wait three years when it's possible to get everything in two or less?

If this is your focus then you're not being a shrewd businessman like you claim. Whatever your 7m naira car can do for ehailing. A 3.5m car will do it exactly all things being equal. So why invest 7m and breathe on drivers neck to rush in your stake when you can as well stay true to reality and get your stake quicker and faster?

Sodiki

A calvary greeting to everyone oooo.

I dey ground like this dey greet una ooo.
Pope, tojah, pearl, gentlelife, cheerfulgiver and others that time will not permit me to mention their names that are still successfully earning on the road.

God bless your existence with favour, unlimited blessings, upliftment, comfort, sound health, long life and prosperity in Jesus name.

I dey waka pass and say make I greet una ni oo

@Djdamian



Inflation shouldn't be any reason to demand a huge return, if inflation comes into play in your investment, that should be applied to the car and not the return...

For instance, they sell cars in 2018 for 1.4m as foreign used, someone who bought a car in 2018 for 1.4m will not sell that car same amount in 2024...


Your car retains it's value, and inflation actually benefits it, meaning returns you have been getting on the car represents your profit while your capital still retains its value or a little less than...

shollywendy1:
A calvary greeting to everyone oooo.

I dey ground like this dey greet una ooo.
Pope, tojah, pearl, gentlelife, cheerfulgiver and others that time will not permit me to mention their names that are still successfully earning on the road.

God bless your existence with favour, unlimited blessings, upliftment, comfort, sound health, long life and prosperity in Jesus name.

I dey waka pass and say make I greet una ni oo

Make we drop aza?

Shimmaa:
@Djdamian



Inflation shouldn't be any reason to demand a huge return, if inflation comes into play in your investment, that should be applied to the car and not the return...

For instance, they sell cars in 2018 for 1.4m as foreign used, someone who bought a car in 2018 for 1.4m will not sell that car same amount in 2024...


Your car retains it's value, and inflation actually benefits it, meaning returns you have been getting on the car represents your profit while your capital still retains its value or a little less than...

Bros, the focus should be on me recovering my returns as early as possible rather than waiting three years. Inflation impacts everything and everyone so that's another talk for another day

If I’m willing to provide a sound tokunbo car, it’s only fair that I get my investment back sooner and in good faith.

For clarity, I’m referring to a hire purchase arrangement, not a lease. The car would belong to the driver at the end of our business agreement.

Djdamian:
Bros, the focus should be on me recovering my returns as early as possible rather than waiting three years. Inflation impacts everything and everyone so that's another talk for another day

If I’m willing to provide a sound tokunbo car, it’s only fair that I get my investment back sooner and in good faith.

For clarity, I’m referring to a hire purchase arrangement, not a lease. The car would belong to the driver at the end of our business agreement.

Okay, I get your point now. But if you intend to buy a 7m car and put it up on Hire Purchase, how much would be fair to you as total package?

tojahh:
If this is your focus then you're not being a shrewd businessman like you claim. Whatever your 7m naira car can do for ehailing. A 3.5m car will do it exactly all things being equal. So why invest 7m and breathe on drivers neck to rush in your stake when you can as well stay true to reality and get your stake quicker and faster?

Sodiki

My brother, I’ve looked into the car market recently, and I can tell you that finding a good Naija-used car for 3.5 million is nothing but a fairy tale these days.

A sound car now goes for 4 million and above—no jokes at all.

thank you,still exploring

Djdamian:
Use the money for something else.

CheerfulGiver:
You can go ahead and buy the Corolla. Just make sure the driver you're giving it to for 140k weekly is not from this thread, and won't see this thread at all.

Still not getting my point but it's fine..no need to further buttress it

Glithronix:
From a car owner's angle.
However, from personal observation, 90% (or above) of drivers making contributions here are owner-drivers.
I no dey see rental guys contributing. It's either dey come and lament once in blue moon, or they stay silent as ghost readers, or show up when they see giveaway.
Na why I just kuku put my point in the bracket of car owners.
And yeah, rental guys can make the same, I concour.
Anybody can make it definitely.


Much respect, boss.

See, most times renters earn more than car owners.
Car owner is responsible for repairs and maintenance while a Renter will call his partner to send money for repairs.
Except u are blessed with a car that will not give u a single issue month in month out.

tojahh:
Na to begin report Una to circuit overseer

So una no dey get radicals for the lord in your congregation?
No be everybody be preacher of peace ooo

shollywendy1:
A calvary greeting to everyone oooo.

I dey ground like this dey greet una ooo.
Pope, tojah, pearl, gentlelife, cheerfulgiver and others that time will not permit me to mention their names that are still successfully earning on the road.

God bless your existence with favour, unlimited blessings, upliftment, comfort, sound health, long life and prosperity in Jesus name.

I dey waka pass and say make I greet una ni oo

Amen...
I think say u wan say make we show for Eko Atlantic make u lodge us cos u just got back. 😁