You could venture into automobile sales and sell fairly used or brand new cars to people searching. How Profitable is Transportation Business in Nigeria?
This is one luxury service that never goes out of play. If it is well operated, the owner will make enough money for his family up-keep and also make extra income for purchase of another tricycle with time. You could set up a blog that focuses on a specific niche and build it into an authority car owners or anyone in the transport industry can connect with.
We must address the issue of connectivity that makes people to move around with ease. Lagos traffic permitting, if you say the bus would be there at 10 am, at that time it should be there. You could take advantage of the transport opportunity ferries present and start a ferry transport service.
It could be for a wedding, prom night, party, music video, or for whatever reason at all. In fact, only essential information necessary for the reader to form opinion and take decisions should be left. Be sure to get an experienced mechanic to test-run it before buying, so as to ensure good quality.
We were able to get some investors to put money into the business, and we approached some banks, Sterling Bank stepped to the plate and the rest is history. The EMU coaches are to movepassengers daily. Every vehicle will constantly need parts to be changed, causing the spare parts business to continue to thrive for decades.
The aviation industry is a lucrative one where almost any organisation that plays a role in any part of it tends to generate large returns on their investments. With an adequate startup capital or a bank credit to back you, you could venture into the supply of heavy materials and equipment with tippers or low-beds.
Commercial bus operators feel the step will force them out of business. You charge any amount of money you desire from your clients and continue growing rich every day.
A transport business can be costly and attention-seeking especially when you consider all the components needed to start the business but the profit you get at the end of the day is always worth it. This will be a place to take the record of your vehicles coming in and those going out. You could first work for a clearing and forwarding company to learn the mechanics before venturing full-on into the trade as the principal business owner.
Due to the fact that this job is yours, you are free from any insults, queries, quarrels etc. It is advisable to operate long-distance travels which will take people to far areas. But of all the types of transport available in Nigeria, road transport is the most subscribed, as most people travel in automobiles from city to city and even within cities.
Why are you not patronising the local assemblers and manufacturers? It is estimated that 86 immigrants enter Lagos every hour — the highest in any city in the world — and they have no plans to leave. The advent of e-commerce has also spiked the income of courier companies as online stores are introducing more enticing packages like same-day deliveries and money-back guarantees, and more, driving the number of orders they get even higher.
While acquiring the land, make sure that you get all the necessary land certificates. You also need at least one functional car to commence and successfully run this business.
But we have signed an MoU with Yutong, to start assembling buses in Nigeria, and we hope before the end of the year we would start assembling buses in Nigeria, especially because of the duty on those buses; we have to pay about 33 per cent or something like that, which is very high.
Tip Read and understand all local ordinances regarding where you can pick up fares. What they have been doing before is that you pay your money, and they assemble for you, and you run it.
It even spurs economic activities, and it would lead to economic growth in the long run, but there must be that political will to make that decision, that this is what we must do.
Consultations are ongoing on the BRP. The minibuses, known in Lagos parlance as Danfo, will henceforth render feeder services from the suburbs to designated bus termini nearest to their areas of operatiions.
Heavy-duty materials and equipment are always transported on a daily basis. Business Structure There are different ways in which you can run this transportation business in Nigeria.
Not only did our debt double, but everything that we used to maintain the buses went up in price. How does the equity compare with the borrowed funds? The Top 10 After the purchase, one should procure all legal papers needed to operate the vehicle to avoid being embarrassed by law-enforcement agents and for the security of the automobile.
What information is contained in a business plan? That is to say that it should be as close to reality as possible.But of all the types of transport available in Nigeria, road transport is the most subscribed, as most people travel in automobiles from city to city and even within cities.
25+ Lucrative Transport Business Ideas & Opportunities In Nigeria or Africa. − Business Plan Writers − The transport business in Nigeria is a lucrative enterprise for people who understand the venture, knows the local terrain, and can implement a good system of operation.
Aug 02, · Business Plan Set clear goals and objectives for profits by listing fares and anticipated market locations. Itemize expenses, such as labor, vehicles, insurance, fuel and maintenance. Abrams () sees a business plan as a powerful document telling the story of your company, while Lambing & Kuehl () defined a business plan as a comprehensive document that helps an entrepreneur analyze the market and plan a business strategy.
Tri-cycle or keke-napep business, Taxi business, and Bus driving business are the most common types of transportation business in Nigeria. This is because Okada riding has met its end in many states in Nigeria and still fading away in more states (especially in big cities or state capitals).
The scope in the transport and logistics industry is varied – from a one-man show using a small truck to transport goods and offer services, to a fleet of transport vehicles which travel the length and breadth of South Africa’s roads.Download