How to make money in transport business

The issue is taxes. The trucking and delivery transportation industry is enormous. Your email address will not be published. These are road transport, warehousing, storage, rail, maritime, and aviation services. First Name.

How To Make Money From Road Transport Business. A Guide — Business — Nairaland

We all move on our roads to carry out our daily activities. I have been in transport business for two years now and I’m here to discuss how Nigerians can tap into the huge opportunities in the road transport sector. I’m want to encourage you to read with an open mind. Are you interested in doing business in the transport sector? Do you want to tap into the numerous opportunities in the road transportation industry? Then this article is for you. The transport industry in Nigeria is booming currently and Nigerians can now create unlimited wealth from this sector.

50 Best Transportation Business ideas & Opportunities in 2020

Are you interested in doing business in the transport sector? Do you want to tap into the numerous opportunities in the road transportation industry? Then this article is for you. The transport industry in Nigeria is booming currently and Nigerians can now create unlimited wealth from this sector. In fact, this is one of the fastest growing business opportunities in Nigeria.

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Transportation business in Nigeria is still transpirt with the increase in population which is estimated at aboutmillion as at What makes the business economically viable is that the demand by commercial bus users surpass the supply. Before I go tarnsport how to start a transportation business, I will first of all show you the types bjsiness transportation business in Nigeria today. They are many and varied and different entrepreneurs choose different types of transportation business because of their interest and experience.

Motor bike, popularly known as okada is used to bisiness one or two passengers at a time, though some states discourage carrying two passengers. Some state government have proposed replacing motor cycle with keke napep. Workers that commute to work or others travelling outside the state use this means.

Haulage transport service: This is the use of different types of automobile to carry goods for a charge. Different types of vehicles include, tanker, trailer, tipper. It is a new way to transportation business in which you get regular income, more or less, it is a guaranteed income.

The driver will pay for the price agreed installmentally. It is a cool business, is it not? Other classes of transportation business such as the use of aircraft, train, ship or canoe and pipeline are outside the purview of this article.

If it is tri-cycling business or Okada business, they are slightly different from commercial bus business. The capital investment and the regular vehicle maintenance and running costs is much higher than tri-cycling business, however the daily return is also different. Koney your research properly to make sure your location is best suited for the transportation business you want to operate in terms of the financial demands of the Area Boys and the State Government.

I would recommend that you start small and acquire good experience before you grow big. You must register the vehicle with the licensing authority, obtain vehicle insurance and other necessary documentation that will enable you to operate in your location without hindrance.

My advice at this stage is that you should be the professional driver to drive your first commercial bus or tri-cycle since at this stage you have one vehicle, you will manage it more prudently than the how to make money in transport business driver. If you drive a commercial vehicle for a year, how to make money in transport business are no longer a stranger in the transportation tarnsport and you stand to gain so much when eventually you buy your second vehicle and then engage a professional driver.

If you have other businesses you are running, engage a professional driver and negotiate favourable memorandum of understanding between you and your driver. The amount agreed with the driver is sometimes dependent upon the location, type of vehicle as well as size of vehicle. For example, an entrepreneur in Ibadan operating commercial transport service and using a professional driver would demand far less return from his driver than his counterpart operating in Lagos state.

Plough back your profit to your business and buy more vehicles. It is only by prudent management of your resources and hard work of your transport business that you become successful. Nothing in this world is easy to handle, not even transportation business, especially when you want to be successful and expand quickly. Be prudent and careful: avoid the problems with the police by obtaining the right vehicle license, renew it together with trannsport insurance certificate and other dues and levies when they are.

This a a basic business plan for transportation business in Nigeria. You should do your feasibility study on transportation business in Nigeria depending on the area you want to operate, then had with this knowledge. Good luck. If you are looking for other ideas, check out our page: Business ideas. Marketing Academy, providing training services to the industry and educational services to the profession. He also provides tutorial services for students writing the NIMN examinations.

Thank you for sharing your ideas with me. I want to start with okada in a small estate. Business Ideas. Table of Contents. Akinwale May 4, Reply. Leave a Reply Cancel reply.

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Many truckers try to get into the business every year and end up failing. Oil change is how to make money in transport business rapidly now because people have recently become aware of the huge demand for this service and the high level of profitability. Start your own service and then work with business clients around your area that do not want to facilitate deliveries on their. You can include window washing, painting, gutter cleaning, and sign maintenance. With the right tools and equipment even though very costly, you can start an air cargo business by helping businessmen transport their goods faster and in a safer way. Although many taxi cabs in the cities are operated by their owners, there is trnasport growing trend of private taxi cab companies. How to Start a Transportation Business: Everything to Know To start a transportation business, you will need to decide which type of business you intend to create. Small transportation businesses can compete better in local and regional areas. The vehicles you hire to customers must meet higher safety standards before you can provide them for hire. Busibess Now. Generally we get traffic updates from the FM channels.