Is good

Sharon6:
Yes, its a very profitable business. Give it out to drivers on hire purchase, tell them to pay weekly installment, don't make the payments monthly because it'll be very difficult for the drivers to save money for a month to give to you. Be very strict, don't familiarize to much with the drivers, familiarity breeds insults. Above all pray!!!



PLEASE CHECK MY SIGNATURE!

Anything transport in Nigeria is not easy at all, the drivers will do everything possible not to pay you. They go extra miles even being Fetish at times just to make sure you don't get your money. Aside all that, the stress of police involvement, mechanical faults development, fuel scarcity etc. made me look away too.

My brother to b sincere with you, it's a very very nice biz to do bt d problem is d driver, if it hpns u'll b d one driving it fine, bt if u r giving it out i tell u, u regret ever entering d biz, i leave in kano n I've done dis same biz b4, one of my drvers is very honest bt d 2nd was jst using me to get his own keke..... Is good if u use it ursef or better still go on hire purchase with d help of legal practitioners to draft agreement.

Odunharry:

Giving it to family man is the best, they take the business serious and considering the fact they have family to cater for and obligation to meet also. Infact before the stipulated time they deliver.

Family man you say? It typically the same level of risk with a non-family member... Human are still humans and as a matter of fact family won't even take it serious, na them go give story pass.

Every transport business is profitable when personally managed. If given out except on hire purchase, forget it oh!

drive it urslf or hire purchase

udysweet:
Story of my life

Seems they don do you .

I think they deliver 15-17k per week definitely not 7k

Odunharry:

Giving it to family man is the best, they take the business serious and considering the fact they have family to cater for and obligation to meet also. Infact before the stipulated time they deliver.

lol. Bro that is if the family man is honest. A family man should be the worst. Shey pesin wey neva chop belleful, wey get family to cater for, expenses piling up naim go dae honest?

Harkynkunle:
As a young chap, I have been looking for a legit buisness platform to invest into.. then this thought of tricycle buis comes to mind... I believe or feel with d huge population in Lagos, this buisness should flourish (though not totally convinced).. Thus I need ideas from people who have got stream of ideas or those are still in d buisness to share their experiences with me.... I wouldn't wanna take a wrong step...
Thanks in anticipation

Indeed it is a good biz.

There is this man in my area who was riding an old okada but luckily he got a tricycle on higher purchase I think for 800k or therabout and I was so glad when he told me that he will pay off the remaining 24k in a months time and the tricycle will be his...I remember it was not up to a year that he got the tricycle so yes it pays if you give to elderly people as higher purchase .

In fact if you have money to buy like 5 at say 550k each with registration then you can make 250k profit on one on higher purchase basis making over 1m naira which is better than fixed deposit.

And if you want to drive it by yourself all good.

Yes. If you are the one driving it.

Toks2008:


Indeed it is a good biz.

There is this man in my area who was riding an old okada but luckily he got a tricycle on higher purchase I think for 800k or therabout and I was so glad when he told me that he will pay off the remaining 24k in a months time and the tricycle will be his...I remember it was not up to a year that he got the tricycle so yes it pays if you give to elderly people as higher purchase .

In fact if you have money to buy like 5 at say 550k each with registration then you can make 250k profit on one on higher purchase basis making over 1m naira which is better than fixed deposit.

And if you want to drive it by yourself all good.

It always appears this simple and hitch free until you try it yourself. Honest drivers are not easy to come by at all. They all start with assurance but become story tellers on the long run.

In d right hands.. Yes it is

@OP they do have association of tricycle owners I think.. Pick a route and talk with them, they will put you thru.

opey112:
I think they deliver 15-17k per week definitely not 7k

It's 10-12k.

byvan03:



It always appears this simple and hitch free until you try it yourself. Honest drivers are not easy to come by at all. They all start with assurance but become story tellers on the long run.

As I wrote, higher purchase is better and the elderly men are more reliable.

My friend I will b honest wit u keke bisnes is only gud if u are driving it urslf but buy give it 2 anybody on jusr purchace is like trowing ur 450k in2 a pit I bot keke Feb dis yr 300k was paid remainin 300k only 4d guy 2 tell me d keke was stolen.

Toks2008:


As I wrote, higher purchase is better and the elderly men are more reliable.

Not all, being elderly doesn't make one reliable. I agree hire purchase is better with a good driver, old or young but honest .

this is a very good business but you have to manage it very well to make it. i have being in this business for about seven years now, i was once a driver, owner and now spare parts dealer. in fact i am posting this from my shop now. My advice
if you want to give it out on higher purchace write a good aggrement and state your rules and regulation very well. Let your driver have a guarantor and you also have a witness the 4 party should sign the agrement. Now the real work started dont listen to any story when it comes to payment otherwise you will blame you self. i bet you the real story will start after six month but dont give a damn. apply all managerial skills for a business and pray verywell. which you best of luck

It depends. I am into keke biz for 3yrs now. i live in Ilorin. Higher purshase will give you 800k by paying 12k everymonth. but giving out to a driver will give you 2k per day. But, driving it yourself is the most perfect. though i have 6keke napep here is Ilorin. No fuckup from those drivers.
I gave them on higher purchase and they are paying 12k each per week. You can contact me if interested. 08057582306 or 07061293754. No work for Naija. This is my 6th years after my NYSC. Keke biz is good in Ilorin

Harkynkunle:
As a young chap, I have been looking for a legit buisness platform to invest into.. then this thought of tricycle buis comes to mind... I believe or feel with d huge population in Lagos, this buisness should flourish (though not totally convinced).. Thus I need ideas from people who have got stream of ideas or those are still in d buisness to share their experiences with me.... I wouldn't wanna take a wrong step...
Thanks in anticipation

go find a land where its developing and set up a good block moulding factory, buy a truck for supply, produce high quality blocks with stone dust, sharp sand and plaster sand you will be marveled @ the kind of sales u will have, I guarantee you 200-300% of returns to investment in one year, when your blocks doesn't break unnecessarily may be 1/100, you will be selling @ 150-170 where others sell theirs @ 130-140 and ur products will never be left on ground for more than 48hrs

Qristien:
People, I don't think he's talking about buying and driving.

I think he means buying and selling, like being a tricycle merchant.
If this is what you mean, then it is a profitable trade, especially since the price of dollar climbs everyday. You could buy it for N300000 today to sell for N350000; the next day you will hear it is now sold at N350000. Your guess is as good as mine.

If however, you are talking about buy and drive, then I follow the opinions of the previous contributors - if you are not ready to drive it yourself, then be ready to suffer headaches.

And why would I buy from him when I can approach the assembly plant here in Lagos at a lower price?

Not advisable.

Abeymills:
My friend I will b honest wit u keke bisnes is only gud if u are driving it urslf but buy give it 2 anybody on jusr purchace is like trowing ur 450k in2 a pit I bot keke Feb dis yr 300k was paid remainin 300k only 4d guy 2 tell me d keke was stolen.

Yours is better, gave mine to the first person, story for 3 weeks to the point of making me to understand the first payment was from his account... the second guy did not pay up to 30k before the stolen story, litigation has been on since then and there you will find out different type of case issues, at worst he will go to jail and you won't have your money back or pay for lawyer and the best is go and pick his properties, that's if he have any valuable worth the tricycle.

@OP! The stress is not just worth it, both the park chairman and the rider go as far as fetish level, except you are willing to follow that part. lasma problem is another thing if they ticket the rider twice in a month, That is close to 44k minus demurrage... Then the rider will turn to you for soft loan including his outstanding debt and begging from different quaters, then you will ask yourself what have I done to myself?

But there is a way to go about it, like they say every business is a risk... Either you register with CAC, so incase of any loss, they will be the one to push the case for you or the rider most be ready to fortify valuables worth the agreement, duly signed and stamped by court.

when you get the keke, at the back tyre, you can weld a cup shape iron to one of the tyre and padlock it when you want to park the keke or at a place you are not sure of the safety, that way the tyres can not move, unless they break the lock.


PM, let's talk more: 90 percent of these riders are they same, they learn tricks from each other and family member is the worst.

Odunharry:

Giving it to family man is the best, they take the business serious and considering the fact they have family to cater for and obligation to meet also. Infact before the stipulated time they deliver.

Swings both ways bro.

Could be a disadvantage.

Honesty remains the ONLY attribute needed.

Best way to do it is ask whoever you are giving to pay 40% of the cost in advance. Then you only calculate interest on the 60% contributed by you . By so doing , being that he contributed his own money to yhe purchase, he is bound to use the tricycle very well and without excuses . The conditions is if he starts story, you retrieve the cycle from him , and he lost all his money .

This will keep him calm and cool while the contract lasts . That is what we do in the bank and it works .

Unionised:


And why would I buy from him when I can approach the assembly plant here in Lagos at a lower price?

Not advisable.

It is a good thing that you're using the word, "I".

People still buy cars from roadside and startup car dealers, even though the Apapa port is just a ride away.

It depends. I am into keke biz for 3yrs now. i live in Ilorin. Higher purshase will give you 800k by paying 12k everymonth. but giving out to a driver will give you 2k per day. But, driving it yourself is the most perfect. though i have 6keke napep here is Ilorin. No fuckup from those drivers.
I gave them on higher purchase and they are paying 12k each per week. You can contact me if interested. 08057582306 or 07061293754. No work for Naija. This is my 6th years after my NYSC. Keke biz is good in Ilorin

Leave Agbero Business for Agbero. You will have to be very hard with the driver(s) and street wise to break even talk less of succeed. Nevertheless "No Risk, No Gain"

MY GUY BUY AND USE IT YOURSELF....IF YOU WISH TO GIVE ON HIRE PURCHASE ...CONSIDER IT GONE COS YOU WILL WAKE UP WITH SEVERAL BAD STORIES...THE WORSE I HEARD RECENTLY WAS THAT THE GUY TOLD THE OWNER THE KEKE HAD BEEN STOLEN..HE NEARLY FAINTED.

D biz is gud if U have honest riders. Have 2 in Abj, and its d only biz dats keeping me afloat in this trying period. Balance is 10k/week per keke, one of my rider is 95% honest, while I have changed like 3 riders since I bought d second Keke. Keke is lucrative if U can manage ur riders but I'll advice U to go into livestock farming, especially cow rearing, poultry or catfish farming.

Teetunz64:
It's good but you can also try poultry or Catfish farming

pls are you into poultry farming?