10 Easy Steps To Start Up A Transport Business In Nigeria
|HOW TO START A TRANSPORT BUSINESS IN NIGERIA|
How does making between N200,000 - N300,000 thousand naira monthly sound to you? Interesting right?
The truth of the matter is that many people earn more than this which a few vehicles on the road,the trick lies in understanding the ethics and fundamentals of road transport business.
This article contains step by step practical ways to easily set up a transport business that will generate daily income for you and your family in Nigeria.
Starting A Transport Business In Nigeria
Starting A Transport Business In Nigeria
I know you must have definitely asked yourself this question,and it usually is.. why should I start a transport business in Nigeria.
Well the answer to that question is not far fetched,Nigeria is home to over 200 million people and they use road transport daily.
A lot of workers depend on public transport system to go to work and carry out their different daily transactions and they spend a lot of money on transportation.
When you sit down to analyze this scenario, you will find out that transport business is a very lucrative business venture.
Right now,everyone is trying to be an entrepreneur,looking for ways to generate an extra source of income,but before you venture into transport business in Nigeria you have to conduct a lot of research,else you will end up losing your start up capital.
--First,lets take a look as some of the major big time players in the transportation industry.
Definitely the best or one of the best transport company in Nigeria.
ABC Transport came into the transportation business in Nigeria and changed the game,they came with their own unique style of service that Nigerians love.
ABC Transport PLC makes millions of Naira daily and has also extended operations to some other west african countries.
God Is Good Motors
One of the new comers into the Nigerian transport business and seems to already have a hugh fan base and customers.
--Other popular transport companies in Nigeria include Peace Mass Transit, G.Agofure Motors and also some veteran transport companies like:
- Chisco Transport
- Ifesinachi Transport
- The Young Shall Grow Motors Etc
Quick Steps On How To Start And Succeed In Transport Business In Nigeria
You have to be committed and ready to give in your time and energy,and you must lay out a feasible plan before venturing into this business.
First of all analyze and consider differen factors.
--1. Ask your self if you will be needing the services of a driver or will you start off by driving your own vehicle,then probably hire the services of a driver when you purchase more vehicles.
2. You must be well informed about how much it costs to run a transport business daily and your expected revenue.
Just take a walk into the city and make inquiries,ask questions like how much does it take to fuel the vehicle daily?
How much does it take to repair the vehicle?
You have to know the nooks and crannies of these business if you actually want to succeed.
3. Determine the best type of transport services you can offer,either transportation of goods or the transportation of humans.
For the transportation of humans decide if it's the running of commercial intra-city transport ie buses or taxis, Intercity transport service- conveying passengers from one city to the other via a car or a bus.
--Commercial tricycles also known as keke napep.
Commercial motorcycle operating mostly in rural areas and villages.
Haulage services which includes transportation of goods.
Also note that you can haulage for big established companies and make money.
Plus you can purchase a tipper and and transport goods from quarry factory sites,logging sites sawmills. Etc
Simply decide the area you would want to specialize in.
4. What is the size of the area in need of your services.
You need to study your location and spot out the busy areas with less competition.
5. Make a clear estimation of how much profit you expect to make per week and per day,how to offer better services more than your competitors,also how many vehicles to start the business with.
If your planning to employ a driver,you ave to look a trustworthy driver and devise means to keep him in check.
6. It is usually better to start small and grow big,and gain experience as you progress in the business,most of the major transport companies in nigeria started small with few buses.
7. You must not start off with a brand new vehicle,you can as well look for a durable fairly used vehicle to pruchase.
--8. After getting your vehicle, make sure you get all the necessary documents and license for transportation.
9. Also register your business with appropriate Nigerian transport bodies to avoid problems.
For example, you should register with the regional branch of the National Union of Road Transport Workers (NURTW) if you are into commercial transport and also ensure to pay your levies to avoid embarrassment.
This is basically what you need to start a transport business in Nigeria,also note that the Location,Type and size of vehicle and other factors will contribute to how much profit you will make.
Also make sure that you have a solid contract agreement between you and your driver to avoid disagreement that is if you decide to hire drivers.
In conclusion,just note that you must be careful,hard working and vigilant,always supervise your transport business and make sure you regularly service and maintain your vehicles, maintenance is key to a successful transport business.