Fellow Nairalanders.
I want to quit my ₦80,000 job and start up a business. The business I have in mind is keke spare parts business.

I would have loved to set up the business as a side business but my location is the problem. I work in one of the Northern states and I don't want to base in that state. I am unmarried and wouldn't want to start up my family here. I wish to marry before the end of the year.

My budget for the business is ₦2m.

So my question is: "is the business profitable?", am I taking the right decision?.

Please I need advice.
NB: I didn't save the money from salary and there is no more money where that one came from in case you want to advise me to make more money where that one came from, lol.

Thanks all.

The business is lucrative
Not many people know about this stuff
But I can tell you that you will reproduce your capital in less than 2 months
All you have to is rent a shop is areas where spare parts are sold
Make friends with Keke mechanics
Give discount to them cus that's how they make their money
2m isn't that much but it can go you a long way

Nnamekus1:
Fellow Nairalanders.
I want to quit my ₦80,000 job and start up a business. The business I have in mind is keke spare parts business.

I would have loved to set up the business as a side business but my location is the problem. I work in one of the Northern states and I don't want to base in that state. I am unmarried and wouldn't want to start up my family here. I wish to marry before the end of the year.

My budget for the business is ₦2m.

So my question is: "is the business profitable?", am I taking the right decision?.

Please I need advice.
NB: I didn't save the money from salary and there is no more money where that one came from in case you want to advise me to make more money where that one came from, lol.

Thanks all.

Keke is gradually becoming the recognised mode of transport in Nigerian Town and city suburbs.
Trust your instinct because you've stumbled on a fold mine many Nigerians will rush into in the nearest future.
I'll implore you to understudy a keke spare part trader or a short apprentice program to be abreast of the antics of the business and also follow the guide of the first responder to this thread.
I wish you all the best.

blazingblender:
The business is lucrative
Not many people know about this stuff
But I can tell you that you will reproduce your capital in less than 2 months
All you have to is rent a shop is areas where spare parts are sold
Make friends with Keke mechanics
Give discount to them cus that's how they make their money
2m isn't that much but it can go you a long way

The business sounds quite lucrative and that your good suggestion is quite credible.

How and where does one source the spare parts in Nigeria?

AVECDEO:


The business sounds quite lucrative and that your good suggestion is quite credible.

How and where does one source the spare parts in Nigeria?

well with 2m minus shop rent and the rest it's quite small
I will advice him to go into mini importation in sites like 1688.com,Alibaba
Learning how to track your goods till it gets to Nigeria could be that hard but with a good agent it will be smooth..
But the good thing about this is that he gets *10 or more of his initial capital ...
But if he decides to source in Nigeria hmmm thé gain will not be that much compared to importing directly...

Good business

blazingblender:
well with 2m minus shop rent and the rest it's quite small
I will advice him to go into mini importation in sites like 1688.com,Alibaba
Learning how to track your goods till it gets to Nigeria could be that hard but with a good agent it will be smooth..
But the good thing about this is that he gets *10 or more of his initial capital ...
But if he decides to source in Nigeria hmmm thé gain will not be that much compared to importing directly...

the import duty is not helping matter Boss

Sambai65:
the import duty is not helping matter Boss

That's another problem
But when selling you would still make a lot of gain than buying it in nigeria
Import duty is about 20% of the product
So before you start you can do market survey in the goods you are about to start and you will find out the import duty is not much of a problem

blazingblender:

That's another problem
But when selling you would still make a lot of gain than buying it in nigeria
Import duty is about 20% of the product
So before you start you can do market survey in the goods you are about to start and you will find out the import duty is not much of a problem

thanks you boss

Hello 👋 I’m sure you might have run your business now how lucrative is the business mine I’m planning to join both keke and okada parts if I learn only keke parts will I still sabi okada parts with the knowledge I got from keke because the person that I’m learning from is doing only keke alone thank you for your response please some should help me out

[/quote][quote author=Nnamekus1 post=112637184]Fellow Nairalanders.
I want to quit my ₦80,000 job and start up a business. The business I have in mind is keke spare parts business.

I would have loved to set up the business as a side business but my location is the problem. I work in one of the Northern states and I don't want to base in that state. I am unmarried and wouldn't want to start up my family here. I wish to marry before the end of the year.

My budget for the business is ₦2m.

So my question is: "is the business profitable?", am I taking the right decision?.

Please I need advice.
NB: I didn't save the money from salary and there is no more money where that one came from in case you want to advise me to make more money where that one came from, lol.

Thanks all.