People spend on car for different purposes. While some get fancy cars to ride and oppress on the street, others purchase cars for commercial purposes.
In Lagos especially, transportation is one of the major issues militating against our daily productive activities. Workers had to wake early to catch up with bus in order not to run late and public transport owners are raking in alot of money from price discrimination because of high demand.
Transportatiin is one of the most lucrative business in Nigeria especially in city areas. It is one of the business that is worth taking a loan for.
Lets focus on the various ways we can make money from transportation.
5. Mini Shuttle:
If you are a worker and you have been battling with transport problems on a daily basis, it’s time for you to wake up. If you calculate the money you spend on tfare on weekly basis and multiply that with 12 months, you will understand what I am talking about.
If you earn a decent salary, say N120k above, its high time you started saving. Getting a used car shouldn’t cost you more than N300k. If you can get a good one with good engine, you have been able to resolve a problem.
Making the Money
You can cover your transport cost by shuttling on your way to work and when you are coming back in the evening. Depending on the distance, the fare you get from commuters should cover your transport and feeding for the day.
By the end of the month, you would realize how much you are able to save
4. Travelling Short Distance
If you are the type who enjoys travelling, you can make a living around your hobby. Troops of commuters travel everyday.
Lets consider a short distance such as from Lagos to Ibadan, It takes you a maximum of 5 hours to and fro and by then you would have pocketed nothing less than 30k from a 16 seater bus on a daily basis.
You would need to register with your state governement and the park for you to get started. There are always queues and you will always get your turn as the competition in this kind of transport business is minimal.
Although there are other requirements but you can always get information from any well established park in your state
3. Loads Carrier:
This kind of transport business is very peculiar to people in Lagos State. For instance in Lagos Island, a lot of business people come around to buy goods and they pay heavily for movement to their various destinations.
You will find this kind of business mostly in areas such as Idumota, Iyanapaja, Oshodi… and other established and popular markets around Lagos.
If you have a car or mini bus, you do not need to move around, all you need do is to find such market places and park your car, the goods buyers will approach you and the charges are usually high.
Uber is the latest transport application that has been raking in a lot of money for car owners lately. Uber offer convenience to car owners and commuters alike. It has been offering transport solutions to business people whi could not afford to own a car.
The requirements for getting on UBER platform as a transporter is demanding. The car brands and model requirements are higher and not everyone can afford to get on the platform. But it is very good as it offers car owners the opportunity to rake in money via a different source.
You dont necessarily need to be the one to ride, but you can get a driver who you will have a contract with.
To get started, download the app at Google Playstore
1. Full Time Transportation
No doubt, transportation business offer stream of income for public bus owners and as an individual, it offers an opportunity to run a business of your own without due pressure from any boss.
Majorly in Lagos, public transporters make use of the popular yellow and black stripped varagon buses. The good news is even without being a full time public bus driver, you can make money with a mini bus.
A typical mini bus which can convey 7 passengers at once cost between N500k to N800k. Like I said earlier, transport business is one of those businesses that you can obtain a loan for.
If you do not want to run a full time, you can target workers resumption and closing hours. You can be guaranteed of making money during those periods.
You have to be strategic and be able to determine how many times you would love to work daily. Weekends are also good to work for some hours. The important thing is to make money.
Routine Maintenance of your vehicle is important
Ensure you obtain all necessary documents including your Driver’s licence
Obey the traffic rules at all times
Pay your dues to avoid embarrassment
Lagos State Government now offer business owners loan opportunities at a very low interest rate.
All you need do is to visit your nearest LCDA with the following requirements
1. One Identification Means (National ID Card, Intl Passport)
2. LASRA registration
3. 2 Passport photographs
4. Tax Clearance
You will obtain the LSTDF form and you shall be guided through