Untold Secrets of Keke-Tricycle Transport Business

Secrets of Keke-Tricycle Transport Business

It is good to invest in high-income businesses and be part of those making huge money from it.

However, as the saying goes ‘big man, big trouble’ which implies that high incoming businesses could as well have high financial losses.

This is typical of the tricycle (KEKE) business. I will take some time to explain to you all you need to know about running a tricycle (KEKE) business.

Two years ago I worked directly with a friend who owned three tricycles and was given the responsibility of taking care of the financial reports of the tricycles drivers on daily basis.

With that, I was able to gather enough information regarding the investment, its benefits, and challenges, its grassroots secrets, and patterns used in making money from it.

Obviously, everyone or almost every post about tricycle (KEKE) business tries to focus on the financial gains alone with little reference to the potential losses in the business.

This post will be as neutral as possible to explain to you my experience in the business with the sole purpose of guiding you to make a proper decision on the investment.

Just like every other business, the tricycle (KEKE) business is a good one and a lucrative one at that but it can only be true if the proper method is used by the investor.

There are two ways you can invest in the tricycle (KEKE) business and I refer to the two ways as:

Direct Tricycle (KEKE) business investment and Indirect Tricycle (KEKE) business investment.

Let me take some time to explain each of these types of Tricycle (KEKE) business.

Direct Tricycle (KEKE) Transport Business

This implies investing directly into the tricycle (KEKE) business without involving any third party to generate your income. This means that the investor bought the tricycle (KEKE) and start driving it for commercial purposes without handing it over to anyone to do.

It is almost the type you can see in many places but will require the investor to have the time and courage to start driving the Keke (tricycle) for commercial purposes.  

The reason is that most investors consider driving the tricycle (KEKE) as a low-class job as a result released someone else to do the job and return an agreed specific amount of money on daily bases.

Direct investment in the tricycle (KEKE) business has numerous advantages which I will highlight here and provides more investment security but the investor has to be willing to do the job without hiring someone else.

Advantages of Direct Tricycle (KEKE) Business Investment

1. It helps the investor to learn the skill of driving a tricycle.
2. It helps the investor to make more money on daily basis.
3. It helps the investor to have rest of mind about the security and usability of the tricycle.
4. It helps the tricycle (KEKE) to have a longer lifespan and lesser mechanical failure since the owner will always handle it with care.
5. It helps the tricycle (KEKE) to maintain a continuous good look since the owner will always take care of its looks.
6. It helps the investor to know the most profitable routes in the transport business.
7. It helps the investor to know the secrets behind the transport business in general.
8. The investor will be able to know how to advise anyone trying to venture into the business.
9. The investor could be able to save money for another tricycle (KEKE) within a short time.
10. The tricycle (KEKE) will have lesser working hours since the investor will not be in a hurry to meet up daily targets.

Disadvantages of Direct Tricycle (KEKE) Business Investment

1. Not every investor likes to drive tricycles.
2. It will be impossible or inefficient for an investor already employed in another job.
3. The investor needs time to learn proper tricycle (KEKE) driving skills meant for commercial transportation. purpose. It could take up to 7 days or less to become a professional and skilled tricycle (KEKE) driver.
4. Sometimes the investor could fail victim to illegal fees and dues as a result of ignorance in the early days of the transport business.
5. The duty of repairs and maintenance will be in the hand of the investor

Now let us take a look at the other type of investment in the tricycle (KEKE) business;

Indirect Tricycle (KEKE) Transport Business

If you consider the direct method difficult you still have another option which is to invest indirectly in the tricycle (KEKE) business.

Indirect tricycle (KEKE) transport business means buying the tricycle(s) and leasing it out to hired drivers either for the purpose of hire purchase or daily income accounting.

I will take the time to explain each of these methods here.

How tricycle (KEKE) hire purchase business works

If an investor leases a new tricycle (KEKE) for hire purchase, a specific amount of capital will be expected from the tricycle (KEKE) at a set period of time.

This capital will cover the amount of money used to purchase the tricycle (KEKE) and the expected profits which could be up to 50% of the purchasing price.

Let us assume that the investor bought the tricycle (KEKE) at N600, 000, the hire purchase price could be up to N1, 000,000, and this money will be paid to the investor within a specific period of time let say twelve months.

This means that the hire purchase driver will be returning the sum of N84, 000 monthly to the investor which could be broken down further to N21, 000 weekly.

This implies that every week the Tricycle (KEKE) driver will pay the investor the sum of N21, 000 for a period of twelve (12) months and afterward will be the official and legal owner of the tricycle.

Advantages of tricycle (KEKE) hire purchase business

1. Leasing the tricycle (KEKE) for hire purchase helps the investor to feel more secure about the financial recovery of investments.
2. The investor will be able to recover the money spent within a short time including the profits attached to it.
3. The investor can be able to focus on other businesses or jobs while investing in this type of investment.
4. The method provides opportunities for the fewer privileges to own a tricycle (KEKE) through the hire purchase method.
5. It is also a quicker way of making money in the business due to targets set for the driver.
6. The investor will not be in charge of the repair and maintenance of the tricycle.

Disadvantages of tricycle (KEKE) hire purchase business

1. This method will require a lot of paper works and guarantors for the driver who will be carrying the Tricycle.
2. The driver could run into unforeseen incidents which could lead to legal cases most times between the driver and the investor.
3. Sometimes, the tricycle (KEKE) could get damaged due to continuous over labor to meet daily income targets.  This usually prolongs the specified period of financial returns and in some cases could become difficult to complete.
4. There are cases of the driver running away with the tricycle (KEKE) thereby putting the guarantors in trouble.

This type of indirect tricycle (KEKE) business offers the opportunity to anyone who cannot afford to purchase a tricycle (KEKE)

How tricycle (KEKE) Daily income return business works

In this method, the investor buys a tricycle (KEKE) and keeps it at home for drivers who will be hiring daily for commercial transportation.

At the end of each day, the driver returns the tricycle (KEKE) and pays the daily hiring fee to the investor.

There is no limited time of ownership of the tricycle (KEKE) because anyone could come to hire the tricycle (KEKE) daily provided they have traceable records.

This could be a good method for someone with numerous tricycles and its parking space and personal mechanic. At the end of each day, the investor will receive a specific amount of money from the driver.

 Advantages of tricycle (KEKE) Daily income return business

1. You will have more time to do other things while still making money from the tricycle.
2. You will still maintain ownership of the tricycle (KEKE) even after recovering invested capital and profits.
3. You will not be bored with the daily challenges faced by commercial tricycle (KEKE) drivers.
4. Depending on the agreement, you may be assured of the safe handling of the Tricycle.
5. If properly handled you could earn a trice of the capital used in buying the tricycle.
6. Because of its regular returns and parking daily, the tricycle (KEKE) could be used for other personal purposes.

Disadvantages of tricycle (KEKE) Daily income return business

1. This method needs strict rules and closer monitoring of the drivers daily. In some cases, the investor will be the one to specify the route that the tricycle (KEKE) will be running on a daily basis.
2. The maintenance and repair services of the tricycle (KEKE) will be in the hand of the investor.
3. Some drivers could return the tricycle (KEKE) half-day with the excuse of mechanical failure.
4. You may not be able to get drivers every day to hire the tricycle (KEKE) and carry it to work on a daily basis.
5. Some drivers could abuse the agreement and over-labor the tricycle (KEKE) just to make money daily. This leads to early damage or shortened lifespan of the tricycle.

What you mustn’t do in tricycle (KEKE) business

For you to secure your finances, there is a list of things you must not do when investing in the tricycle (KEKE) transport business. Below are some of the things you must avoid:

• Do not buy fairly used tricycle (KEKE) known as second-hand. This could rundown your capital and will give you steady unrest.
• Do not buy a tricycle (KEKE) lease it without getting all the legal papers that will help drivers to use it for commercial transportation.
• Do not hand over the tricycle (KEKE) to any driver that comes your way without proper investigation of the past records of the driver’s experience in driving the tricycle.
• Do not be in a hurry to lease the tricycle, take time to carry out all the paper works and reliable guarantors must be presented to you by the driver.
• Do not be in a hurry to lease the tricycle (KEKE) without proper verification of the information provided to you.

CONCLUSION

I believe by now you would have understood the basic secrets you need to know about the tricycle (KEKE) transportation business.

Do not forget to share this post with your friends on social media platforms and use the comment section to reply to me with any questions or contributions. Thank you and good luck with your investment.