Hello everyone, i have some money and i think i could invest in this Uber/Taxify stuff, i still have enough money to get a new or neatly used Toyotal corrolla 2003- 2006. I want to know how this works. I am not planning to drive it myself, i am planning on giving it out to someone who will be bringing me money every week. I heard i could be receiving 25k to 35k per week(I don't know how true is this) depending on the agreement with the driver. Secondly, what is not clear to me is the maintenance, who will be responsible when the car is faulty? Also, these days, it looks like more people are trooping into this stuff, i want to ask if it is still booming? Is it a good idea to go into this at this time when Uber and Taxify are everywhere? Thanks as i await your responses.



CC: pope191 izzou GidiWoodsMan XGhost dru23 GazzuzzAutos jesusson2020 Stealth100 Tyche IfoyinTEDO Cooladex Xneg franksam2009 Oluwabengz y jesusson2020 jpworld Darksider131 deedee44 y Gentlelife50 Mjosh1000 knowyeknot

It's is not o. Drove my car on taxify alone jan-june last year(soft work o) and grossed nothing less than 1.5m .

It's still manageable if u're driving ur car. anything else na war. Early last year till may/June, drivers were delivering it 35/40k. Now to meet 25k weekly na war. And u must service ur car monthly and other repairs
Due to high influx of cars, crashing of fares, bad roads etc. Grossing 15k daily now seems an achievement unlike last year when I grossed around 20k daily with 12 hours on taxify alone.


Waoo. FTC.. Wishing every one here a day filled with blessings and achievements

Still ok but not booming anymore.

Hmm

I doubt sha, the Yeye guy I gave my car damaged it. na me no gree listen to my wife

her to learn

omonla10:
It's is not o

y

Hmmmm

No

let me park here!

It's only "Lucrative" for those driving it themselves. As for Driver/Owner partnership, well it depends on the driver. But from what I know, it's getting harder to deliver that 25-30k weekly.

Is lucrative.

Following

Still booming like anything

Why not buy fedeco bus or old used danfo ,you will make more money by carrying market women from ikotun to cele bus stop

Is not as what you think more so you are also responsible for repair of your car and be expecting story from your driver too

Only if you drive yourself.

Note:

- The car depreciates every day
- An accident may knock you out totally, insurance at 80k/year may take 4 - 5mths for cheque, that increase your recovery timeframe by 1 year with no income.
- Repairs sets you several weeks back.
- The cost of parts on the car has increased due to demand.
- change of driver cause you 1 week income if any or more till you get another while your recovery period keep extending and car depreciates.
- The market is saturated and income is not pegged anymore, you might be forced to open a debt book for drivers because you need them more they need you.
- possibility of retrieving your capital before uber threshold on car years requirement is very slim talk more of interest, vehicles further away from the least threshold is more expensive, parts more expensive, insurance more expensive and repairs more expensive.
- With the Nigerian economy, riders are getting slimmer and fare prices forced to crash with promos abound.
- wreckage of vehicles are very likely that even a higher purchase may leave you at a loss after series of default.
- second hand value has dropped because most are recycled taxis even if it's under 1 year.
- it's a full time job, be ready for calls of breakdowns or issues which might consume 1,2,3,4 or more weeks of income..


It's not easy anywhere though..... Goodluck.

Buhari's harsh is telling on boys now

Afonja007:
Why not buy fedeco bus or old used danfo ,you will make more money by carrying market women from ikotun to cele bus stop

flesh and blood didnt reveal this to you

Afonja007:
Why not buy fedeco bus or old used danfo ,you will make more money by carrying market women from ikotun to cele bus stop

Underrated advice

Afonja007:
Why not buy fedeco bus or old used danfo ,you will make more money by carrying market women from ikotun to cele bus stop

Underrated advice

Yes and no

only good for the owners to drive themselves



anything else , story will be involved

jbass1:
Still booming like anything

Are you sure?

Nigeria too hard abeg. If any business boom everyone rushes it till it casts. From cat fish to events center to mini import to uber. Haba na nigerians

If you're not the driver you wont enjoy it that much. If you're the driver, you could actually make at least 150-200k per month. Car maintenance is on you o.