₦airaland Forum

Chuwaa:
Today I requested taxify for my boss. ..offline. I asked the guy how much going to three destinations at Ikoyi and later VGC for 4 hours. He said 8k. I quickly agreed.
Was that 8k okay? Undercharged or normal?

Meanwhile a car rental company we called requestes for 30k...for 4hrs. Jesus.

From where; pickup n drop off

Phranex:
Net can not be 10k

Revenue is 10200

Gross is 10000

Driver requested for 1k

Net becomes 10 minus 1

Meanwhile in the dishonest scenario the loss is 350

In scenario 2 if driver doesn't use the 1k. It means he has 11200 as cash.. He only gives me back my initial 1k and subtracts 200 as fuel

Thus making us share 10k instead of 9k.

The loss is 350. Although he might look like he has the full 1k but its 350 he gains

In scenario 1, A driver didn't ask for 1k... Bro, abeg u go sch?
In scenario 2. A driver won't be so dumb to tell you that he didn't not use the 1k, so you share 9k

Phranex:
In scenario 1

It is 35% of 9k

In scenario 2

Also 35% of 9k

I see a loss of 650 tho

Oga check will.

Scenario 1 is 35% of 10,000

And your re right.

You will get a loss of 650. Simple. So it favours driver more

1899Milan:
Phranex, you can't be "brainstorming" yet shitting on opinions.

A dishonest driver will earn more but so will you, tho smaller (% Measure).

Consider this:
Driver Requested N1000 to fix something and you provided it.

At day end, GROSS is N10,200
*** Hypothetically speaking, N200 covers fuel and other miscs.

Going by your model, that N1000 is further subtracted from the Gross which now leaves N9,000 as NET

Driver Earns 35%

Scenario 1 (No Dishonesty)
N10,000 NET
Driver gets 3500 and you 6500.

Scenario 2 (Dishonesty)
Driver doesn't use the N1000 he gets from you, thats an extra in his own pocket.
Going by the new NET of N9000, he gets his 35%, N3150 and you N5850.

Driver:
N3150 + the N1000 with him before = N4150

You:
N5850 + N1000 removed from gross (depending on how you look at it) = N6,850.

Summary:
In Scenario 1, everything worked out normal.
However, in Scenario 2, driver earns an extra N650 and you, N350.

Scenario 2, driver earns an extra N650 and you -N650

Ask me how.

You can't ADD N1000 to yourself cos you took the N1000 from your pocket and not from the money earned to get to the driver
Else

Account won't be balanced

Hold on, lemme let me balance your account. On scenario 2. Driver N4150 + you N6850 = N11,000
Therefore your account is not balance to N10,000


Balancing my scenario 2. Driver N4150 + you 5850 = N10,000. Therefore. You loose d N1,000 to dishonest driver and lost N650 extra from the earning to him. Simple.

Call your accountant, he can explain better

Phranex:
You are missing the point


10 bikes earns me 105 weekly

1 car earns 35 weekly

Cost of 10 bikes equals cost of 1 car.

If you are smart, u will know what to invest in

Meanwhile, anything happens to the car and the income stops for that week.

The 10 bikes can not go bad all at once.

. But can be stolen at once. How do u track it. because the last guy I bought a bike for on my farm to use is nowhere to b found till date.

Aside that, you don't even ve a car on the platform yet. Nawa o. How come you know wat works and wat wont work.

I can see the true pic now, you want investors to invest in bikes, right?
And you can help them to manage it , right?


Ko le werk.... No one is ready to be scammed.

Well, u may be lucky to see some sending you pchat to know about your bike biz... See your tactics bad gan. Those who know, knows

Phranex:
If u were an investor.. Your narrative will be different.

I had 2.2 million and wanted to buy a car just for uber.

I enquired about the biz.. I was told drivers remit 35k weekly..

I did some calculations and wasn't happy with the model.

I invested the 2.2 in bikes.. Bought 10 bikes at 218 each....

The 10 bikes earned me 70k weekly at 1k daily on the mainland.

I took 5bikes to lekki

5 bikes in lekki earns me 70k weekly at 2k daily
5 bikes on mainland earns me 35k weekly at 1k daily

Cumulatively, I earn 105k weekly.

If I had bought a car, I would be crying now...

I want to revisit uber business. This is why I am asking these questions..


My bikes have the capacity to buy a car for uber...

Now you tell me, shouldn't uber bring more money for an investor than a common bike

Your 10 bikes can carry minimum of 10 riders at once and 20 at most per trip

While

1 car can carry minimum of 1 rider at ones and 4 riders at most per trip.

Common sense;
you cant compare 10 bikes to 1 car.

1 bike can never earn as much as a car,
Comfort differs greatly.

Phranex:
No I don't.. I just have to visit uber offices and ask if they have an API.. I will integrate it with the tracker....


In the hybrid application I will create, I will permit a margin of error of 5km...


Anything thing beyond 5km is definitely offline jobs

Good luck with that bro.

I just dey pity the church guyz who will accept your offer thinking God has answered their prayers. Cos at the end of the day, when salaries are not been paid, u can still post them for 2 more months b4 they realized that they are only been brain washed. And on the other hand, u ve made ur cool cash and time for stories.

Anyways, it s a win win situation for you. Its ur car, they can't do anything when u don't pay. They can't collect your car from u for not paying cos they will be tagged as thieves ..

The truth be say, you re looking for those to use and dump cos u always know that model won't work. Good luck in your world of extortion

brogxy:
By staying online? This is what I got for the day after waking up by 4 am to set out by 4.45am. this is just to tell you that the work is not like you feel. Meanwhile, I am still on my way home stuck in the traffic cos it's already my closing time.This amount includes my feeding, tolls

Bros , u try o

Check mine.... After 7hours plus... Only 5600 and still online. Top up my fuel with 2k naw to keep working with 2hours left to call it a day

Phranex:
No.. Its not greed.. I have made an investment. I need to make profit... The driver is an expenditure is my petty cash book.... Its my business.

Hard work + investment = profit

Who's generating the cash flow. Company without workers is dead investment, so also a car without a driver is dead.

Lemme go on break for two weeks and park my car for DAT same two weeks without source for a driver and tell me how I can get profit from that same car. . .

Well I see, its not greed that makes u demand all cash flow. You are a bank that will keep the money till month end ..lol...

By the time u began to keep drivers money, I can assure u how much debit u will be in, in couple months. Fact is, it won't work.

Phranex:
The model is to ensure the driver doesn't just park the car in his house and sleep all month waiting for a salary. You know Nigerians are dishonest people

You don't sound like the honest type. Besides right thinkly existing driver would rather take a fixed 60k driving job of a company or rich man than driver average of 12hours on the road to get 35% from you with some many clauses

GAZZUZZ:
what are you still doing here?

Pls help me ask am again o

Phranex:
You people have been saying this.

How do drivers look for requests


By being online?

Please note that you are talking to an app developer (just to preempt you so you speak within the possibilities of the tech in uber)


Please note that I will buy the phone,car,insurance, fuel,tracker and maintenance and uber commission. All the driver has to do is be online and drive. If he decides to be online for only 2 days in a month.. He makes 35% of that....

Its a fair deal.. Any driver who doesn't accept this is just greedy.

I think you are the greed one here with this model... Extort drivers and kick them off the grid. Why do u intend collecting all the money in the first place. I don't trust this kind of system. Is scam like! I'm sure poor drivers will for victim and when u don't paid them at the end of the month, it s a lose lose for the driver. But a win win for u.

When dead cars a given, the driver dint preform and the kick them out b4 month ends. Bro its scam ... Scam

Phranex:
Drivers will earn 35% off net profit.

Scam

Phranex:
what do u mean?

its my car and i will be in charge of maintaining, right ? I will insure it (my money). All they will do is drive. Yet u drivers want to remit peanuts weekly..

Transport companies who ply interstates employ drivers.. why should uber be different?

If i plan having 5 or more cars on uber, you think i will give them out to greedy drivers to balance me weekly while i maintain the car.. All their work is to drive and get the juicy part of the business while they remit only 30k. You dont call that scam abi..


Look, having drivers ride my car is empowerment to them... they are not doing me a favour by driving my cars...

Yes its your car, buh u re not the one bringing in requests or riders

Transport companies. Do ve an office, controls and bring in the riders, fuel, maintain, and covers all expenses. In this case, if there is a low turn thru out the month, driver still gets paid

And for a partner to think he can handle all DAT and still pay a driver at the end of a month with d low requests. It is a scam cos no partner will pay a driver from his own pocket if inflow is not in excess.

Do ur homework b4 u start. Average of 100k weekly consistently seem impossible, tho possible. Ie 400k gross a month

Debit uber 25% u left with 300k or Taxify 15% u left with 340k

Debit fueling 25k a week ie 100k a month (for low consuming car like corollas) uber, u left with 200k or Taxify 240k

Since u re paid salary, u will cover fees for toll, call cards, data for a month. 4000 call card a month, 2000 data a month, toll 10,000 a month ( ie d driver must not use the toll gate for more than 50times a month if possible. Ie twice a day for 25days only)= 16k a month....
So uber, u left with 184k or Taxify 224k abi

Maintenance, using cheap oil servicing ..total let say 10k only plus oil filter change. Uber u left with 174k and Taxify u left with 214k

Other repairs ... Let say u lucky every month. 0 naira spent



Now; for the analysis above.

You can only net 174k on uber a month and 214k a month if you driver makes an average of 100k weekly o

Therefore, how much do u intend to pay the driver?
Feeding allowance, thank God Taxify covers health and that if he did 200 trips d pervious month?

You all call 30k weekly peanut ie total of 120k a month. ( let say u remove 120k for uber, u left with 54k or taxify , u left 94k)

Will u pay a driver 54k or 94k a month? When 30kk weekly is peanut to u. SCAM ALERT

Phranex:
can i employ a driver and register him on uber?

he would receive salary/wage at the end of the month.


is that a possiblibilty

Only scammers will expect a driver to drive on uber/Taxify for a month to pay him salary.

Jokkarm2:
Please my beloved nairalanders, i need your advice. i am currently working in a private company with 73,000 pay monthly but i have a friend who is in US and wants to help me by buying toyota 2006/2007 for me to be using it for uber. i am a graduated and i have working experience. please educate and advise me because my salary is not driving me forward to even marry or do other business. please help me on how to do the uber busniess . see my email. jokkarm@gmail.com.

Neva leave ur work for uber/Taxify . your friend can go ahead to get u the car, no wahala. U can work sat n sun only and still net 20k. That's 10k net each day.

Mjosh1000:
Who else has noticed no more wait time on uber

. Uber too dey do there own. Where is rideme and grandexpress, come to our rescue

All my spot done cast, where can I position again. I had to swim my car thru ligali ayorinde this morning under the rain to make sum cash.

Shai ! Taxify don suffer me. I dey Ladipo now to buy new sand protectors as water + bad road don comot am.

GAZZUZZ:
You are burnt out, you need a 1/2week break.

Hmmm, I think so

alstarmayo:
This business is not profitable to you then, why do it?

Its better than sitting your money in bank while d bank keep deducting small small chatge s from your money even after using it for there own business

Soon, I myself will stop uber/Taxify .. Its now getting too boring and taking too long to get a request most times sorted in the car for hours.

Time is precious and I hate to waste that time. Looking for other things to do that will at the same time fetch me some money rather than sitting in a car for 15hours per to strike 7k net and most times less.

manny656:
Kindly explain please !

Investors like dru are pulling off some cars off the road cos no driver wants to drop 40k a week . Now more cars need to replace them and be on the road.

Cancelled trips by riders is quick frequent.ones driver arrives, cancel option should b remove like it is when you start the trip.

After staying online sourcing for riders for more than 7hours, I was able to rake in 4300 naira and I don ready use up like 1k fuel. Wash my car 500.

Na to go house go chop remain o.

See as pple plenty for bus stop and I never see request.

Baba God, bless my hustle

We need more cars on uber/Taxify and less trip cancelation

Phranex:
Hey guys,


is taxify/uber still profitable

Yes, only that new investors just won recoup their capital within a short period. Ehailing is not MMM

MobilityExpress:
This is one very strange logic I found on this thread that I still don’t understand. And I find it equally surprising how many investors here have embraced it, whether grudgingly or otherwise. But the thing is, everyone has their own perspective or understanding of what works for them and it’s better for everyone to do whatever works for them. Now, in relation to your statement, let me just say share my own PERSONAL perspective and understanding that works for me:

An investor spends as much as 2.5m to buy a tokunbo car (let’s say a 2007 corolla) and put on the Uber platform. 2.5m includes money to
- pay for the tokunbo car
- pay to fix one or two things or issues that came with the car
- pay for general servicing (fluid changes like engine oil, transmission oil, coolants etc), parts changes like brake pads and/or lining, etc) in order to begin your own service history afresh because you don’t have the service history record of the last user abroad and since it’s for commercial use it’s better to do a comprehensive service before starting
- pay for comprehensive insurance
- pay for tracker
- pay for vehicle registration
- pay for Uber and Taxify registration
- pay for the logistics involved and other miscellaneous

Now the investor invested in the business to make profit, it’s not a charity organization. Now the average ROI he receives weekly is 35k, which means it will take approx about 72 weeks (1 year and 5 months) just to recover the capital invested alone, in an ideal situation where all things perfect and the 35k is paid consistently all throughout the period! But 72 weeks is not a small time and in practicality all things will not be perfect in that 72 weeks. Therefore, if we consider and make allowance for unforeseen circumstances etc, it might take 2 years just to recover his capital. So then what’s his profit? Simple, the value of the car is what every John Doe would say. But for the critical thinker, who can see outside the box, that’s not a good place to be, in fact it is a gamble where there a higher probability to lose than to win. Because the state or condition of the car in 2 years isn’t guaranteed and it is dependent mainly on the driver’s usage. So in 2 years, figuratively speaking, the car might be a dead car, a nearly dead car on life support, a car in coma, a car in average condition or a car in good condition. But the fact is, whichever the case is, the value of the car has significantly depreciated. Right now (September 2018), the average market range of a Nigerian used 2007 Corolla in pristine condition might go for around 1.5m assuming, but 2 years from now (September 2020), there is no way the car will be worth that much. A Corolla in pristine condition then might be around 700k, who knows, as the demand for Corolla might have dropped drastically. And that’s even for a personally used Corolla, now imagine if the buyer discovers the car was used for Uber for 2 years, it’s either the buyer runs away or offers you a ridiculously low price. Because he believes the car will be prone to plenty repairs due to heavy use. So to rely on the value of the car as your profit is blind gamble. You might win (if lucky) or you might lose (most likely). There’s no certainty with the outcome. The associated risks are just many and too dynamic to control. So it’s not wise for any sensible investor to depend on the car’s 3rd / 4th hand value as profit. I said 3rd / 4th hand value because this is a car that was driven for commercial purposes, not personal, so it has a faster depreciation rate and higher wear and tear. So to call it a 2nd hand car might be tantamount to an exaggeration or a subtle lie. Because of this factors, any serious investor that’s serious about making profits has to factor in his profits with the ROI generated during the cars usage. So then, we already established it might take approx 2 years to make 2.5m capital back, then depending on what the investor sees as profit, but for the sake of illustration, let’s say 2m, then it might take another approx 58 weeks (1 year, a month and half) in an ideal situation. But the situation can never be ideal. It will be real. So in reality it might take a year and half), if we factor in the realism of the business. This makes it 3 1/2 years. Let’s round it up and say 4 years. So looking at this business critically and practically, a 2.5m investment of a tokunbo car in perfect condition to run on Uber and Taxify will only be profitable with CERTAINTY if the car runs for 4 years at 35k weekly. 4 years is not a joke! That’s the time it takes to graduate from a social science course in a private Uni in Nigeria. 4 years of hard labor on a car (even though properly serviced within that 4 years) driving on our bad roads shared with many crazy road users will still take it’s toll on the car and eat its pound of flesh. So the state / value of the car at that point is almost negligible. And if it’s has average value, then you know heavy money has been invested into its upkeep.

Now if the 35k weekly is going mainly as an ROI to the investor, then someone still wants the investor to take out of the same money for vehicle maintenance, then that person is a joker. The investment will crash and then investor will ultimately never make any profits but also will eventually lose his initial investment. People need to understand that until they make their capital back, they have not even started business at all. This is the undiluted irrefutable truth. Therefore, the only feasible recovery plan and path to profitability is for the car to generate not only the investors ROI weekly but also money for maintenance. In other words, the car operates on a dynamo system, the investors job is to kickstart it (make an investment of a car in excellent condition), then the car runs itself continuously by itself without needing the investors to pump in more money endlessly like pouring water inside a leaking basket.

There’s more to say but i’m tired of typing do now. Maybe later today (or tomorrow or next week, or next month ) when I’m in the mood again and have the time, I will re-edit this post and add the other things I want to include. After I finish the investors perspective, I will also add from a driver/partners perspective. But as a further reminder, this is personal to me, this is what I believe and know will work for me, so nobody should take it as a blueprint for everybody. Do whatever makes you happy as an investor, but whatever you do, try not to lose your investment because i’m yet to meet anyone that was happy he lost his millions for nothing. And for anyone that’s not in agreement with my post or has objections or angry about it, just ignore the post, no need for endless arguments, confrontation or bitter utterances. I will not respond.

You are absolutely right. This is the reason why I don't like investors comparing a landed property with car.

1. Cars ve short life span (say 4years commercial, 8years personal use)
2. Buildings have long life span( 30 years atleast)

Cars for both purpose is more of a liability than asset.

If u are using ur spare car at home for uber/Taxify.. Excellent profit

Nigeria used in prefect conditions. Good profit

Original toks (not the fake refurbished naija used cars) fair profit

Dead cars .. Bad profit. I.e earn and spend on d car




As for car servicing and major repairs, no driver will take that offer. Well u make be lucky to get one.

Buying and selling of cars is the real deal to make short term profit. And not ehailing biz

Vested:
They will come for your head soon with talks like "this biz is nothing without the driver", and that's after they've dropped partner's car at Rafiu's workshop while moving to the next victim.

Conmen are just the order of the day in Naija's biz environment.

Can your car drive itself? Answer the question and edit ur post.

alstarmayo:
Some partners just want to collect money, drivers will be begging them to do repairs and maintenance, they will be begging you to keep managing it

Lol... That s very common bro. I'm sure all partners do this. I once did that to a guy that drove my car for 2week b4 I took it back and drove it myself again.

I do manage my car like DAT tho and expected the driver to manage it that way and wen it got broken , I stylishly blame him cos d damage happened wen he drove it.

Been a partner no mean say money dey. Some partner are living in property looking for whom to breakthrough from.

And I like some drivers, they love to paid from their own pocket in other not to default believing that 2mrw will be better in ehail ( that's the type of driver every partner wants. Weither he earn or not... Rentals must enter)

Such is life

kneo:
Please o, has taxify paid anybody today?

yes me.. Just now tho.. And still waiting for two trips b4 10pm

sweetguy10:
Evening people , I greet una . Please how do you new drivers cope if you are booked for a trip that you don’t know the area ? Is it okay to politely tell the rider to give you directions or is there a map that shows direction et al . Thanks in advance for the heads up .

Google map shows the directions and can easily guard u to your destination. It will also show you the estimated time to get to ur destination. The blue line indicates free route, yellow line indicates either slow moving traffic or bad road and red line is for sure, traffic ahead.

You can ask you ride to direct you thru the fastest route if any... More like short cuts

Taxify and their ojoro... The 2k weekday bonus don disappear o..

Hmmmm. This shitting u are shitting us o Taxify, heyyyyi, heyyyyi, debris god ooooo

tunlapapa:
And he is getting 5k for the fraud

Lol... U for tell am to go driver himself with the multiple accounts he has.



Im in ajao estate now. Still no request and it seems like its about to rain.

Rain come and let evening surge fall on me..