₦airaland Forum

Hello esteemed Partners, I have been unavoidably out of town and out of telecom network area for some days now, and that's what is responsible for my inability to communicate.

I will be in town today. The 2nd meeting will be holding in Port Harcourt tomorrow (Sunday) by 12 Noon. I will send out reminders to your phone before the day runs out. The venue will be at Oyigbo.

I regret any inconvenience this might have caused. Pls Come along with interested friends as important decisions will be discussed before the 3rd meeting in Lagos.

The company name "Haulfast Logistics" will be adopted and the registration will begin by next week.

I have been having a lot of people sending me mails and asking similar questions. So I have decided to post the answers to those questions here too as I'm sure some other people too might be having the same questions on their minds.


Number of Investors
We are looking at as much investors as possible and there cannot be issues with the number of investors. At the last meeting, I broke it down to the minutest detail of how all the investing partners are taken care of. Though in time to come there will be other terms of admitting investors. As at now, anyone with a passion, will and commitment in the biz is free to come on board. The profit margin is decided according to the percentage of how much was invested. I worked out the calculation in the last meeting and will do that again in subsequent meetings before we take off. Everything is well documented and cleared in the terms and agreement of the MOU. Everyone will get a copy before we finally kickoff so that we can have a final meeting to address any issue that partners may raise.

Jobs
As for the jobs, there are too many jobs that we surely cannot cover. Most times its the lack of trucks that slows down most jobs as there are not enough trucks to cater for the jobs on ground. In fact the jobs are always there and that's the fueling force why I want us to come together and pool our resources to meet and bridge that gap. My vision is to have a company that construction companies can count on when it comes to hauling materials and making their work faster and efficient.

As for the drivers, you only give them the chance to act inefficiently because most of the truck owners don't have time to manage the trucks and they leave it to the drivers who come up with different excuses that the truck owner cannot verify because lack of time or convenience. I work closely with the drivers so there is a close monitoring of what or where they are at any point in time.

Invitation to Invest
Invitation for invest is still open and will always be open because we will always aspire to expand at the fastest rate we can achieve in the shortest possible time. Take note that the pioneering partnering investors terms and conditions will be different from those that will come on board later. Before next week runs out, we should be getting our Company name registered at the CAC and the corporate account open at a bank to be nominated.

Exit
There terms and procedures for exit of a member have been laid down in the MOU. there is no complications about it. That's why there are documents to sign after reading and agreeing the terms.

Experience
Of course, I have been in this business for over 3 years now. The best experience can be deduced in the capacity in which one is involved in a business. I have person(s) both on and off Nairaland that were/are current investors with me and I give a fixed ROI (return on investment) monthly. There are other partners too that are experienced in this lofty business that we will be working hand in hand with to ensure a smooth running of the biz. Be aware that we do not only need experience in the haulage business, we also need partners who are experienced in other aspects of the business such as accounts, decision taking, management etc. with a synergy of the professionals in different fields who are equipped with the right skill, experience and education, I am confident that we will grow to an enviable height no matter what inhibitions or obstacle we come across in the course of the business. From experience I have been able to pay my dues in making good and bad decisions and have learned from them.

I implore you to attend the 2nd meeting in Port Harcourt or the 3rd meeting in Lagos to be on ground to get instant answers to your questions and also give your input.

Patric

fastlane84: Haulfast logistics. Sounds like a good one.

Any other person(s) going with this? I'm also ok with it.

2ruink: Interesting! More power to ur elbow guys.

@2ruink my guy where have you been?

Guys,
Here are the likely names to be registered

Haulfast Logistics

Translog Support Services

Benchmark Support services

What do you think?

Please feel free to comment.

This is also to remind interested partners that the 2nd meeting for partners will be holding on the Saturday 25th of May 2013.

Be part of it as you input is greatly appreciated.

@oluks05, @Creamychic, @azpekuliar, @fastlane84, @ALeshyto.

I can assure you that you have taken the right decision and by working in unity with other partners, we will achieve our goal to be the name to reckon when it comes to haulage in the nearest future.

I will implore you to endeavour to be at the 2nd meeting that will hold in Port Harcourt on Saturday 25th 2013 or the 3rd decisive meeting to hold in Lagos on June 1st.

Being present at the meeting gives you the opportunity to meet other interested partners one - one and air your views, make recommendations, share your experience and have an in-depth knowledge of how the business is to the run and how you will be involved in it.

I want to encourage other interested members to make it to the next upcoming meetings as we are in decisive stages and your input will be greatly appreciated at this stage.

Thanks

If you expect everyone to call you before they can get the price quote then that means there is more to it.

Aleshyto: for those of us dat can not attend d meeting how can we participate

@ALeshyto, Its easy, just indicate your interest here with your contact detail on you can leave your details here. Also it will be encouraging to attend the next meeting as important steps and decisions will be taken. Welcome on-board.

ohkingdavid: Please am interested & would like to be in the next meeting on 30th May, 2013 as a partner;
You can reach me on: checksmajorltd@hotmail.com & 08067235810; am sure I can contribute positively.

@ohkingdavid, The next lagos meeting will be announced after the PH session holds on the 25th Saturday of May 2013.

@Oduz, I'm sorry about that. Its quite unfortunate and highly regrettable you were just 2 blocks away from where the meeting was held.

First of all, I will like to say a very BIG thank you to all those that were present at the meeting today. I appreciate you sacrificing your precious time and the will garnered to be at the meeting. Thanks for not making my trip from ph today just a tourist exploit.

The total people that were present at the meeting today were 9

The meeting started officially by 1:10 pm

The meeting kicked off with what the business is all about, how the business is run, cost of running the business, steps to ensure its profitability, measures to be put in place to minimise and mitigate against possible and preventable losses, cost of buying a truck, cost of leasing a truck, financial talks, shedding more light on the option 1 and 2, legal talk and corporate imaging.
We also made a comparative check on buying a truck and leasing a truck.

After deliberation and brainstorming,

It was suggested that we start with getting a registered enterprise corporate name.

That after the name registration, we get a corporate back account.

It was also suggested that we start by leasing the trucks are running them for a while as a way of testing the murky waters of the business instead of outright buying trucks to run the biz.

The workability of the possibility of combining the available options were also re-echoed. example,

If we have 3 investors. 2 Option 1 partners that contributed #50,000 each and 1 Option 2 investor who we agreed to pay 20%(as an example) of his invested capital = #10,000 and his principal capital will be available at an agreed date. This brings the total #150,000 to run the truck for the week.

Now if the weekly profit is #50,000 per week, = #200,000 per month. It means that #10,000 will first of all be deducted from the total profit of #200,000 = #190,000. then the balance of the #190,000 will be share by the other 2 Option 1 Partners.

In the case of a low profit or loss, the option 2 investor still gets his statutory ROI (return on investment) for that month and then the balance is shared amongst the Option 1 partners.

We also deliberated on drafting an MOU stating the terms and agreement concerning every aspect of the business

We agreed to contribute a sum of #1,500 each to take care of the business name registration, logistics and as sign of our commitment the this venture. So of paid at the venue and others can pay theirs by reaching Yemi.

We intend to be done with the name registering and corporate account opening within 2 weeks.

Please be informed that the 2nd meeting will be holding in Port Harcourt on the Saturday 25th 2013 to further discuss opinion, suggestion, input and point of view before we finally proceed in the week.

Those at the meeting, Pls feel free to add if there are aspects discussed I did not point out.
Those that were not there, I understand that you must have been unavoidably absent so your input and constructive criticism is still highly welcome.

Thanks.
Sainpatric

We have decided to Open a thread for interested partners who are interested in investing in he Haulage biz to meet here so we can discuss openly and this avenue will make it easier for ideas and opinions to be vetted and scrutinized in the best interest of the biz.

https://www.nairaland.com/1278480/interested-partners-haulage-biz-meet

The Vision
To be a renown support partner in offering logistic and haulage solutions to construction companies in the country. To have a fleet of Trucks and Machinery to deliver quality support in quality time.

How we hope to achieve our goal

We are inviting investors to come together, to pool our resources and expertise together and grow to an enviable height within the shortest possible time.

What We Need

For a start we are looking to acquiring a minimum of 3 trucks of 30 tons to take care of existing contracts on ground. I am convincingly sure that within the short time, we shall grow to a height everyone will want to reckon with.

We have about 4 interested people already and we decide to make our discussion here open for everyone to be able to join in and make contribution or constructive criticism.

@peacemaker
@chukwuwike2ny
@oduz
@isokai

Pls feel free to contribute here and let's work this out.

Breakdown of How It will Work.
There will be 2 options.

OPTION 1
The profit is shared in % of how much was invested.
Example;

If investor A invests 1,000,000, investor B invests 500,000 and investor C invests 100,000. Total = 1,600,000. So 1,600,000 divided by 100 = 16,000

This means that Investor A's investment is 62.5% of the total investment, Investor B's investment is 31.25% of the total investment while investor C's investment is 6.25%.

10% of the profit is set aside for maintenance and other expenditure.
If the profit for the month is 1,000,000.
100,000 is set aside making 900,000 available to shared.

So
Investor A will get 562,000.
Investor B will get 281,250
Investor C will get 56,250

OPTION 2

The investor is given an agreed fixed % of invested funds as ROI (Return on Investment) monthly. This investor is also free to withdraw the principal fund invested over an agreed period of time.

Example if the agreed amount is 10 % of invested funds, and the principal refunded after 10 months.

If 500,00 was invested, then the investor gets 50,000 monthly and 550,000 at the end of 10 months.

This is just my own Opinion. Feel free to contribute.

The day is here. As great progressives meet today. The maiden meeting that will redesign the haulage business industry will be held today in Lagos. We'll keep you posted as the meeting unfolds, questions will be asked, opinions will be raised, recommendations will be poured out, Solutions will be proffered and pragmatic progressive actions will be taken by greatest of minds. We are set.

The Vision
To be a renown support partner in offering logistic and haulage solutions to construction and oil & gas companies in the country. To have a fleet of Trucks and Machinery to deliver quality support in quality time.

See you there.

Kslib: @OP... DONT MIND THESE PEOPLE,YOU ARE VERY VERY WISE AND YOUR GIRLFRIEND IS A REVREND SISTER..https://i246.photobucket.com/albums/gg88/elatadexico/2012/112012/conan-rofl.gif

kai you guys wont kill me with laughter. You are very very wise jare op. its true o, she is a nun

yhemzy: Brilliant idea, nice initiative and wonderful concept by the initiators.Looking forward to meeting fellow nairalanders on sunday. Kudos to the you guys.

@yhemzy, its on Saturday 1pm

Dextra: I'll love to be a partner. I've got some money to invest.

Good. We look forward to meeting you at the meeting.

omosbaba: i am indeed interested in this haulage stuff and am ready to commit my funds to buy a mack for this business
my advice is we do a background check on the managers and the drivers to ensure we know them really as i am based in abuja
secondly whats the guarantee of steady jobs for the trucks so the trucks dont stay idle

i can be reached via 08064879771 and femmy.omosehin@yahoo.com

The jobs are never the problem, the trucks and of course unpredictable weather.

naijacutee: -Ad removed-

Good job

Hello guys, Due to popular demand and requests, It has been reconsidered that holding the meeting on Saturday 18th will be more convenient. Most people gave reasons ranging from religious engagements to getting ready for a busy Monday. Well I think we can still work with it.

New date is

Date: 18th May 2013
Time: 1 pm
Venue: 34 Ijaiye road Marketing bus stop Ogba Agege.

From Ikeja, board a bus heading to Ogba and alight at Marketing bus stop. When you are at the bus stop, give me a call

From Ogba, board a bus heading to Agege and alight at Marketing bus stop. When you are at the bus stop, give me a call

From Agege, Board a bus going to Ogba and alight at Marketing bus stop. When you are at the bus stop, give me a call.

I will make arrangement for seats and the environment is also quite conducive.


How many of us will make it. This is to enable us make the necessary arrangements.

I'm so sorry for any inconvenience this change might cause.

Patric

Well. From the engineering point of view, space is usually left within bridges so allow for thermal expansion. So in this case, it only happens that the cracks were not well contained and have began to expand and wear.
The authorities should do something about it though before it gets out of hand.

whats the price?

post pics and price here or send to saintpatrics@gmail.com

Monicasque: what is your own

I now see u differently you know

Henix: Its legal aspect that will start with CAC has not been highlighted. The legal aspect is of very important,and requires a legal practitioner's service. Prospective investors will also like to know the calibre of people that will hold the directorship of the company,how this directors are going to be selected or voted, their educational background and their track-record in their various past businesses. A lot of paperwork and discussion to be done,if u must win ur prospective investors' confidence in a country like 9ja,where the fear of yahoo boiz is the begining of wisdom. Am interested in the deal and will try to be at the meeting

That's why its important we hold meetings and discuss

richling77: @spat1 as you know I don't stay in Lagos too. I will only wait on the outcome of the meeting which I wish you can briefly post here for those of us not in Lagos but are interested. Thanks.

Yes sure. the outcome will be posted here.

kedukc: I would not be attending the meeting as I don't stay in Lag, but here are my submissions:

1.
Currently being a partner in absentia, Option 2 seems attractive to me. However it requires some guarantee of cash-flow, because whether the business makes money or not, the % interest has to be paid. That's the smaller problem. For the bigger one, assuming two of us invest 1.75m + 1.75m = N3.5m this adds a truck to the business fleet; (the contributed principal is no longer in cash form). This becomes a problem when it's time to pay back the principal, cos no one will collect half truck.

My advice is to hold off on option 2 till the capital base matures. The risk of default is not just financial, it will affect the perception of future investors.

2.
I won't mind being a manager myself because it feels like a solid adventure; who will host me? OTOH, managers should be rewarded for their performance and good faith.

3.
This is merely a suggestion, though we are gradually but surely getting to confidential stages. I want to suggest a private "Google site" as a repository for confidential business documents. Stuff like bank statements, IDs and pictures which are not suitable for public domains like nairaland. Members can access the page and upload documents from anywhere using their email.

@stpats, pls check this link https://groups.google.com/d/forum/nlhaulers to see what it looks like. You can add others by adding their email to the sharing & permissions box. (login requires gmail)

I have more to say, but let me retreat for now, my honourable ladies and gentlemen.

Very important contribution. It shows you have actually given the whole idea a good thought.

I have also been thinking about the pros and cons of option 2 but I still arrived at a very good conclusion that will ensure all goes smoothly with it. All these I wish to thrash at the meeting.

For the google group, I just applied.

Ichiebillion1: Interesting so far.
Kudos to the initiator, Stpat1.
I wont be able to attend the meeting cos I dont stay in lagos,
but will like to make the following contributions
1.From the first meeting, decide on regular follow-up meetings
2.Establish dossiers for all partners using any bank accepted ID for each partner at a later date.
3. We need a sound lawyer to take care of legal issues at a later date, memorandum of understanding,company incorporation
4.Somebody has mentioned minutes of meeting and snapshots of ever meeting
5.Investment should be open to all but there will be a board of directors that the managers will report to and the composition shared on equity and democracy.The number should not be unwieldy to allow them function.
6. At a later date, those of us outside lagos may come in.
7. maintain all discussion in this thread,discourage all private emails ,pm or calls
8. Trust is earned. Let all genuinely interested people bear that in mind.

Very important points. Noted

hartland: stpat I have seen the date, time and venue. its kk with me. plz let me know if there is any change in the plan. cuz I wud in Lagos on the 18th. tanx

I sure will.

Thanks

Jojo Armani: anyway u said shez 18, she just got to her voting age.(she dont even ve votin card) na de man I dey pity if dis happen.

My brother, hers is the least of my concern. My main concern is for the guy cos he doesn't know what lies ahead. When she comes of age hh mm I pity him sha

Thanks DailyNews. We'll surely take down minutes and a photo shoot will be nice.

djjoad: Nice write up..good observation...but i feel the topic is somehow inappropriate..
Maybe cos of the Nigerian mentality...i was expecting to see large, deep potholes...
______________________________________________

exactly. the topic is kinda misleading. You said death traps and we are not seeing any.

From Ikeja, board a bus heading to Ogba and alight at Marketing bus stop. When you are at the bus stop, give me a call

From Ogba, board a bus heading to Agege and alight at Marketing bus stop. When you are at the bus stop, give me a call

From Agege, Board a bus going to Ogba and alight at Marketing bus stop. When you are at the bus stop, give me a call.

I will make arrangement for seats and the environment is also quite conducive.