Hello nairalanders

I need your advice. I want to do transport biz in Benin. I am considering buying a tricycle and giving it to somebody to drive on hire purchase or buy a car for Uber biz in Benin.

Please which do you think will be more profitable with reasons pls. I am tilting towards keke as I feel Benin is not as busy as Lagos and uber will not give returns like keke in Benin. Thank you all in advance.

Mods I will appreciate front page to get more advice. Don't want to make mistake

First u need understand every business is a long term venture. U need understand the risk involved in business before going into it. You can either lose your money, make profit this are the two possible way a business can turn out.

From my experience, in 2011 at 24 yrs was my first keke I bought which cost about 350k then. Gave it to a guy who ended up having a serious accident with it making me to loose my cash .
Fast forward 2017 I bought a bus about 700k gave it to someone who ended up not remitting as we agreed I ended up selling the bus.

Fast forward 2018 started a business a restaurant precisely, at first I got disappointed but with consistency, sacrifice, hard work, starvation and prayer. It finally started making sense, Raking in about 250k profit after expenses.

Fast forward 2018 December, bought a car for taxify everything working fine .

My advice for u is you should try having a side hustle before venturing into any business as business is really a risky journey. Also I would advice you go for a car Toyota precisely due to it resale value or Hyundai elantra 2010 version or a Honda civic 2005 version. But for a keke except you are very convinced that the rider won't fall ur hand oh but I doubt because Nigerians are mostly not worth helping

tinz:
First u need understand every business is a long term venture. U need understand the risk involved in business before going into it. You can either lose your money, make profit this are the two possible way a business can turn out.

From my experience, in 2011 at 24 yrs was my first keke I bought which cost about 350k then. Gave it to a guy who ended up having a serious accident with it making me to loose my cash .
Fast forward 2017 I bought a bus about 700k gave it to someone who ended up not remitting as we agreed I ended up selling the bus.

Fast forward 2018 started a business a restaurant precisely, at first I got disappointed but with consistency, sacrifice, hard work, starvation and prayer. It finally started making sense, Raking in about 250k profit after expenses.

Fast forward 2018 December, bought a car for taxify everything working fine .

My advice for u is you should try having a side hustle before venturing into any business as business is really a risky journey. Also I would advice you go for a car Toyota precisely due to it resale value or Hyundai elantra 2010 version or a Honda civic 2005 version. But for a keke except you are very convinced that the rider won't fall ur hand oh but I doubt because Nigerians are mostly not worth helping

Thank you very much for taking time to share your experience with me. I don't have a side hustle right now and I will be depending on this 100 percent. I am getting support funds to do this so I can't afford to fail. You did these businesses in Lagos or Benin? The roads in Benin are not good that is why I am scared of uber as I will not be driving myself. I was going to buy the keke and put it on a motorable route so that repair would be minimal. Did you do hire purchase? Ie driver takes over the car/keke after balancing a certain amount? How about repairs? Who pays for it? Thanks for your time

I need more contributors and advice please

I need more contributions and advice pls. Lalasticlala pls help me get to front page

Buy a Toyota Corolla and register it with Uber in Abuja and not Benin because Abj has a better road conditions compare to benin. U don’t have to reside in Abuja as the agreed amount will be credited into your account monthly or weekly depending on the agreement. I am a from Benin and I know the roads are bad outside the major road.

If you are debating between Keke vs car, it means you haven't carried out a feasibility study yet. You are only trying to do what everyone else is doing without having concrete figures to help you decide.

Consider what 'Kekes' go through at the hands of Nigerian Police, their (Keke) Union and Local government officials. Plus restrictions that apply to their movements in your state. You may want to ask those who ride Tricycles in your area if Hire Purchase arrangements favor the owner.
So Uber might be a better choice in the long run, unless you want to give it to a driver to be making returns. In which case, they'll wreck your vehicle and return scrap to you after a short while.

For me, I'd go for Uber, and drive it myself, giving me full control of my investment. Both have pros and cons.

Speaking of pros, if you were in Lagos, I'd have suggested that you can also get a pro and experienced IELTS tutor in Lagos, by sending a mail to editus dot ng at gmail dot com.

Good luck with your choice.

Damnnñnnnn niggarrr!
Nor be all road keke fit pass for Benin city. Their movement is restricted here in Benin city! And secondly keke napep cost. Na when i jam one guy own after i don drink some bottles with my lexus for pz sapele road Benin city i take know for. The idiot say make i buy new one
But if i say make you buy car now ehnnnn.
I nor sure say you go get profit

Brother! Open HK(huzzle kingdom) with the small money when you get
then real niggarrrz go give you updated tools and format

Keke

First option

Uber isn't thriving in Benin as lagos but that don't mean it doesn't operate at all plus a car has good resale value especially when it is corrolla. You spend more investing in this business but if it fails, you can still recoup with minimal loss provided you have comprehensive insurance on the car. However, you minimize you chances of failure when the car is on HP. Solved.

Second option

Keke is wildly used in Benin but no resale value. Can't be monitored as much as a car. You spend less to acquire in comparison to acquiring a car but no chance of recouping even half of your capital if business fails as fairly used Keke sells for 250k or 300k. And when it gets stolen, that's the end of it all. Solved.

Choose wisely my friend, the ball is in your Stamford brigde.

Dew

Give people your things to run for you, and you will weep afterwards.

CuriousX:
I need more contributions and advice pls. Lalasticlala pls help me get to front page

Drive it yourself oh

Prefer a car for Uber
Go and register with taxify

Uber is not a business, it's a static income alongside a depreciating asset, it's just to keep you going for a while until you can maintain no more and give up, the feasibility is only sweet on paper and cloud calculations. its not hate, its fact from experience.

Think of a business that can be grown while you grow, you cannot be innovative doing an uber business neither can you grow the business beyond the app owners.

What is with all this keke and uber topics on front page constantly...
Can't better initiatives be brought in, such as small scale productions/manufacturing, poultry, animal rearing, fast food, mini importation etc...

Halelluya ,So Benin City Now has Uber

Venture into Keke as far as its Benin Uber won't fetch u money where those hausa guys are

CuriousX:
I need more contributions and advice pls. Lalasticlala pls help me get to front page

If you ask me Na who I go ask ?

If you're not driving the tricycle or the car yourself please don't venture into this business,except you have a big disappointment and heartbreak threshold.

Space bookers everywhere!!!

Keke. Dem fit steal your car in Benin while doing the uber

Hmmn..buy one of Edo transport vehicles today..

Car for Uber

Just buy Keke at least you are sure of your daily pay

how much direct oversight will you have?

Why can't you ride the keke or uber yourself? Give anyone to drive any of these machines, you will regret massively. And loose big time.

As this is the only source of income u are about to delve into, shelve pride and ride it yourself. You are a man.