Keke NAPEP (Tricycle) Business, Dealers, And Profits

In this article, you are going to learn: Where to get brand new Keke; Get loans for commercial tricycle business; Set up Keke charter or shuttle service 

Plus: How to earn up to N150,000 monthly even without driving one 

From Success Digest Archives, 2010

No doubt every time there is a mass problem, heated debate and outcry of government ban, there must be a need for an immediate mass solution, and it is only those who have eyes for opportunities that can grab the cash that comes from solving such problems. 

Just imagine a world where there are no problems, no need to be met, then people will die of hunger because there will be no jobs to do, no service to provide, and worst of all no money to be made. 

Easy Business for Quick Cash With Risk 

Indeed bike riding has become the easiest business anyone who come into a city like Lagos can go into even if they don't have cash, no certificate or education. Even if you don't know how to operate a bike or even money to buy one, you can easily get a bike at hire purchase and start carrying passengers for cash. It is only a matter of being brushed on one or two occasions, if you are injured in the process, ‘God dey’! Live goes on, man must survive. 

I remember the day I was trying to maneuver through the traffic on a bike to where I packed my car on the Island and I saw the MD of Union Bank, Mrs Olafunke Iyabo Osibodu, struggling through the traffic jam on foot crossing in between cars just to catch up with a function some distance away. She had to abandon her car or else she would miss the function with everybody waiting. Biking is not cheap and the largest passengers are mostly middle class workers and bankers who are yet to get a car for themselves, they find using commercial motor cycle as the only means to get to their destination in time or get home to prepare for another day's work. There must be a solution. 

No wonder it is easy to find swamps of bees, sorry swamps of bikes flying every corner of Lagos at jet speed trying not only to make ends meet, but also for some, meet-up the financial demand of their hire purchase owner. Bike riders or ‘okada ridding’ has turn out to become an endangered business with families losing their bread winner daily due to unrecoverable series of accidents that occurs with bikers. What is the alternative? What is the solution? Read on.

The Lagos And Other States Hammer 

Truly the clamp down by the Lagos State Government has generated a massive outcry and many of these folks know the law of the Lagos government will always stand the test of time in terms of enforcement. No thanks to the dreaded LASTMA officials. 

Taking Advantage of The Problem to Start Making Money 

A lot of folks complain of losing business, and trekking their lives out as the only means of transportation on the Island now is the commercial tricycle popularly called, Keke. And since they are few, it has been a fight to finish to get a space, even the yellow buses have long been banned from V.I and Lekki environs. 

Over 2,000 Keke may be needed in the areas where bikes have been banned to be able to meet-up the high demand of moving passengers to and fro. 
The multiples ways of doing this business 

This business has become a booming one as a result you do not need to ride one to be able to do the business, you can simple own one: 

1. You can own a Keke and get somebody to ride it for you while remitting cash daily to you. 

2. You can also put numbers of Keke on the street and employ drivers who you will put on a salary to do the job while they will remit proceeds to you daily. 

3. You can set-up a Keke Marwa hire purchase service where you simply invest in the Keke purchase and give to a riders associations or a particular Keke rider who will give you remittance and terminate the deal at specific time. After the total sum and interest or commission has been paid, the Keke rider now  takes possession of the Keke while you can make a profit of between N50,000 and N 150,000 in three to six months higher purchase duration depending on the hire purchase agreements.

4. You can get finances from banks, co-operatives and NGO organizations to fund the purchase of your Keke and simply start the business right now in V.I or Lekki  and start making your money and paying back a portion to remit your loans, because this business is hot at this time. 

5. You can also operate a Keke charter or shuttle service. What this means is that a lot of people who cannot ply regular routes because they want to go to some specific route or operate some special duties may likely like to hire your Keke. You make more money from this process, reduce maintenance cost and the wear & tear of your Keke fleet. Simply brand your Keke service for this purpose. And show your presence to your clients in VI. 

When next you are coming into Lagos or looking for what to do within Lagos, this mini transport business that the Lagos government ban on commercial motor cycle has given a boost is set to make you rich. 

The Huge Profit in Keke Business 

Unlike commercial bus, Kekes don’t have a bust stop, you can maneuver during traffic congestion, and cut a lot of short cuts to your destination. The spare parts for the vehicles are available and replaceable by the operator or owner. You can make N5,000 a day and average of N150,000 in a month. With a purchase price of over N300,000 you can become a millionaire in a year and pay back your loans in three months. A single Keke has an average life-span of 3 years. 

This is your chance to cash the profit while others complain around town of the heavy crisis the ban will cause. 

According to T unji Afuwape, our in-house SME finance expert, to get money for the purchase of a commercial tricycle, you simply approach an existing microfinance bank in your locality, some of them will request you deposit 20 to 25% of the total sum while the balance is spread over 20 to 30 weeks. They also have their conditions which you should find out before collecting the loan. 

Microfinance banks giving out money for Keke purchase right now include: 

(1) Accion Microfinance Bank 3, lyali Avenue VI, Lagos 

(2) Citiserve Microfinance Bank, 360, Ikorodu Rd. Lagos. 

(3) MIC MFB, 10AllenAvenue, Lagos.

You can also contact NAPEP State office nearest to you, they have office at every Federal Sec. Office in Nigeria. Lagos Office is at Old Federal Min of Works. 

Where to get brand new Keke: To get the yellow type, simply go to the assembling centre for Keke office at Shyllon street at Onipanu, Lagos. Collect their bank details, pay into their account and wait until your brand new tricycle gets assembled. 

Do not forget to do your own personal due diligence before carrying out any transactions with anybody. 

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