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Nairaland Forum / Nairaland / General / Business / If You Are Uber Partner In Lagos, Please Share Your Experience Here (5045957 Views)
If You Are (uber/Taxify (bolt) e-hailing Partner In Port Harcourt, Come In. / If You Are Uber Partner In Abuja, Please Share Your Experience Here / See How To Register As An Uber Partner In Lagos Or Abuja (2) (3) (4)
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Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by shollywendy1(m): 7:19pm On Apr 21, 2020 |
Carshopper:You dnt understand my point sir. We are on the same page. Dont get me wrong. I mean buying car above 1.5m naira for the business as u said is not worth it anymore 1 Like |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Carshopper(m): 7:20pm On Apr 21, 2020 |
shollywendy1: Oh ... ![]() |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by mrjaydee(m): 7:21pm On Apr 21, 2020 |
I might be wrong, but I think the original plan for ehailing is to drive (you own the car) at your leisure time and make extra cash. The only way to "enjoy" this uber buisness is if you own the car and you drive it yourself. There is this peace that comes with it. I have been fortunate to drive my own car and I tell you its rewarding cos 1. No pressure of 25k weekly remittance 2. You drive the car with care cos it's your own 3. You go online when you need money or bored I can go on and on. I dont think "in the abroad" they operate the way we do which is to give the car out for rental. I stand corrected I'm speaking from my own experience as a driver for a year plus on uber/taxify. P.S Corrolla is not hyped, its underrated! 4 Likes |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Eizenburg: 7:21pm On Apr 21, 2020 |
radautoworks:That IMO, is the fundamental flaw with a lot of Nigerian business owners; wanting to break even in little or no time. In a lot of cases, businesses project multiple years to attain steady profit. That being said, the peculiarities of the e-hailing business (notably the depreciating value of the car) would not make that long term plan feasible. 4 Likes |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by shollywendy1(m): 7:21pm On Apr 21, 2020 |
Carshopper:Im still considering your Rio and dru Civic as the ideal car for the bizness for now due to the price range |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Nobody: 7:21pm On Apr 21, 2020 |
izzou: As far as ROI goes with respect to one year time frame, I don't think any car is better than the other. Lets say we both decide to invest in Uber. I buy a corolla for 1.7m and it makes 1.3m at the end of the year. Let's say I sold the corolla for 1.2m. My profit is N800,000. You buy a civic at N1.3m and recoup your money in a year. You can hardly sell your civic for more than N800,000 which is the same as my profit. Note that I am assuming that the civic and corolla were trouble free and only needed routine maintenance through the year. 5 Likes |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by shollywendy1(m): 7:26pm On Apr 21, 2020 |
rationalmind:But if you are driving it yourself. I believe corolla is better as you can equally recoup the N1.7m in a year, and still sell for N1m or more self 1 Like |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Blackbishop(m): 7:27pm On Apr 21, 2020 |
radautoworks: The resale aspect I agree. I have worked on some and the part price is just within range . But yhu know better ma'am. You are the oga patapata of all mechanic... Respect once again ma'am |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by izzou(m): 7:28pm On Apr 21, 2020 |
rationalmind: Let's keep the issue of resale aside Cost price for the tools Corolla: 1.7 meeeellliiiooonn Civic: 1.3 meeeellliiiooonn Let's also assume that we have an ideal situation (Chemistry ![]() Every month, both makes 100k In 2 years, they made 2.4 meeeellliiiooonn It means the Corolla made a net of 700k, while the civic made a net of 1.1m Like I said, considering the purchase cost in relation to Uber pricing, the Corolla is now a wrong tool for the job 1 Like |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Carshopper(m): 7:28pm On Apr 21, 2020 |
Felicity0001: That's just the beginning for decision making ![]() It also depends what business model you decide to take.... Some say it's a means to an end , others say its an end in itself 2 Likes |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Carshopper(m): 7:30pm On Apr 21, 2020 |
izzou: Best analysis I have seen in a long time ... ![]() |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Blackbishop(m): 7:31pm On Apr 21, 2020 |
OJURONGBE1:. Are you the chairman I chatted with about a Ford? |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by izzou(m): 7:32pm On Apr 21, 2020 |
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Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Nobody: 7:33pm On Apr 21, 2020 |
shollywendy1: Whichever way you even look at it, you arrive at the same answer. If the corolla can make 1.7m In a year, then the civic will make the same 1.7m in a year( all things being equal). By the time you do the arithmetic, both would have given you roughly the same ROI. |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by mrjaydee(m): 7:33pm On Apr 21, 2020 |
izzou: You will spend more on the maintenance of a civic and at the end the civic has no second hand value. 1 Like |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Carshopper(m): 7:35pm On Apr 21, 2020 |
mrjaydee: I beg to disagree.... You will spend more on maintenance for Every car if you use wrong tools 2 Likes |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Blackbishop(m): 7:36pm On Apr 21, 2020 |
mrjaydee: Oga no big spending on maintenance on Civic bro.... 1 Like |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by izzou(m): 7:36pm On Apr 21, 2020 |
mrjaydee: Kindly share your experience on this abeg ![]() 1 Like |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Nobody: 7:38pm On Apr 21, 2020 |
izzou: No, you cannot keep resale value aside. ![]() Eventually when you sell, the money you'll realise from the sale of the corolla will compensate for the "extra money" the civic made. 2 Likes |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by izzou(m): 7:42pm On Apr 21, 2020 |
rationalmind: Resale is relative, that's why you have to keep it aside There is no fixed price for resaleing. And there is no guarantee that it will be sold at that price ![]() Calculating it using a period (2 to 3 years) will show that the Corolla would yield lesser than a civic. 1 Like |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Carshopper(m): 7:42pm On Apr 21, 2020 |
rationalmind: I beg to differ... Every vehicle will command a resale value worth its depreciation. After resale the Corolla will still lag 1 Like |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Eizenburg: 7:46pm On Apr 21, 2020 |
Carshopper: I believe if you assume “good chemistry” like izzou suggested, and maintenance does not go beyond the basics, at the end of the day, your ROI on both vehicles would be very similar. |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by izzou(m): 7:49pm On Apr 21, 2020 |
Eizenburg: Mr Eizenburg, lemme ask you ![]() How many years do you think it's suitable for a Tokunboh car to be on Uber? |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Carshopper(m): 7:53pm On Apr 21, 2020 |
Eizenburg: Using @izzou 'ideal state' Cost of vehicle 1.3m vs 1.7m 100k monthly Over 2years 2.4mil That's 1.1m vs 700k Resale value After 2years on ehailing a Corolla will sell for say 700k A civic say 400k That's 1.5m vs 1.4mil 1 Like |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Eizenburg: 7:53pm On Apr 21, 2020 |
izzou: That’s very subjective. Personally, I’d do my calculations with anything between 18 months and 24 months, with a 50% depreciation in the value of the car. |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Nobody: 7:53pm On Apr 21, 2020 |
izzou: There's a price bracket for used vehicles and that is sufficient for this discussion. We will all consider it insanity to buy a used 05 civic for 1.2m. @Bolded, I don't think so. Except you still want to discount resale value. You'll be lucky to sell the civic for 600k after 2-3 years. That means the civic has lost more than half it's purchase price. The corolla can still sell for more than a million. Again, all things being equal. |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by chillex8(m): 7:56pm On Apr 21, 2020 |
Lets do this the old country way ![]() Like for Corolla Share for civic 16 Likes 6 Shares |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Blackbishop(m): 7:58pm On Apr 21, 2020 |
rationalmind: I disagree on the resale value. Due you consider the market curve? In the next few months market can just switch from Corolla to another product and once people shift from it the value will be drastically reduced.. You may be begging people to buy from you sef |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Eizenburg: 7:58pm On Apr 21, 2020 |
Carshopper: That still boils down to roughly the same percentage ROI |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by izzou(m): 7:59pm On Apr 21, 2020 |
Eizenburg: Good Good ![]() So let's choose 24 months, and let's agree with an ideal situation Corolla - 1.7m Civic - 1.3m A corolla makes 700k, while a civic makes 1.1m So how much will be the resale value on both after two years? |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by radautoworks: 8:00pm On Apr 21, 2020 |
Blackbishop: Why does everyone think I'm a tech? I'm not. I just know about cars. The description above is my husband not me ![]() |
Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by Carshopper(m): 8:00pm On Apr 21, 2020 |
Eizenburg: Yes it does.. and shows that Corolla will NEVER remain the best for the job...every car can deliver same end game results all things equal (moral of the story 1 Like |
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