Ever thought of starting Keke business? Let me help you with basic information on how to start and succeed in this transportation business.
Recently, due to the hike in petroleum products in Nigeria, most car owners have resorted to using public transportation as a way of conveying themselves to and from work.
Business persons too have to adjust to enable them meet up with the challenges that face every sector of the economy and their businesses.
However, the means of transportation that has greatly served as palliative to many is the Keke.
Some highly populated cities like Lagos, Ibadan, and Abuja urgently require this means of transportation, so venturing into this business is a good idea and a lucrative business opportunity.
Furthermore, in recent times, due to recklessness and impatience of some “okada” riders, many have lost their lives and some maimed for life.
As a result of this, many people are running away from it, and coming to Keke Napep, believing that Keke is much safer because of its build and balance.
Despite government’s effort and helpful measures to implement transportation systems such as BRT in Lagos, trains in various parts of the country, and others.
It is very normal to see large numbers of people waiting for vehicles at bus stops during morning and late evening hours.
Benefits of Keke Business
There are many benefits one can derive from involving in Keke business. This is because of its flexibility in some terrains where regular vehicles cannot ply.
In addition, there are certain remote areas within the country that commercial buses cannot access.
People living in these areas have to do long walks to bus stops and stations to get a vehicle to take them to various locations.
This highlights the clear opportunity for success in the Keke Napep business.
Furthermore, all that is required is for someone who wishes to do this business to acquire the essential business knowledge and begin earning profits.
How to Start a Keke Business
Just like every other conventional business, starting and sustaining a good keke transportation business requires some basic things.
In the following paragraphs, I will try to show you what it will take for you to start and run a successful keke business.
Buy Your Keke
Firstly, you have to buy a keke. You can pay for it in full or through hire purchase. This is because the Keke Napep is what you will be using for the transportation business. It costs between N900,000 to 1.2 million naira only, depending on the brand.
You Can Go for Second-hand Keke Napep
Due to financial constraints, it is a good idea to choose a second-hand Keke Napep.
However, due to the costs involved, you may choose to pay for a fairly used one, which ranges from N180,000 to N240,000, depending on the seller.
Although buying a brand new is an excellent option, remember that you can opt for a fairly used Keke to save cost.
Since not everyone can afford to purchase a Keke outrightly, if you lack that amount, you can consider hire purchase.
The leasing cost is approximately N650,000, and you can make weekly payments of N15,000 over a period 10 months.
However, the price is usually not fixed at that point. You can also engage with your hire purchaser to discuss a comfortable payment arrangement.
Get Registered With Keke Business Association
Keke Napep in Nigeria riders belong to an association, so once you acquire your Keke, it is advisable to promptly enroll with them.
This provides you with a level of security, and the registration fee is not more N5,000.
Apart from the registration fee, you are expected to pay the association a certain amount of money on a daily basis, you have to make provision for this too.
Do The Keke Business By Yourself
When you personally manage the Keke Napep business, you will find motivation in the daily profits you earn.
Entrusting the business to someone else may not yield as much profit as when you operate it yourself.
This is due to the fact that not everyone can be trusted, and some individuals might attempt to redirect a portion of the profits for their own personal gain.
Make Provision For More Keke
As you make progress, you can choose to acquire additional Keke Napep.
In such a situation, you will need to hire someone to partner with you in the business, as you cannot drive two vehicles simultaneously.
Since you are active in the business, it will be easy to supervise the other person.
Open A Separate Account For It
The best way to approach this is to distinguish between your personal and business accounts.
This practice will help you in effectively tracking the progress of your business.
It is essential very important to discipline yourself in expenses to ensure the careful management of this account.
Do not Neglect Maintenance
Inadequate maintenance is a key factor that contributes to the decline of Keke Napep businesses.
Some individuals operate these vehicles for extended periods without seeking the services of a Keke mechanic to inspect and maintain them.
Conducting routine inspections on the machine not only prolongs its lifespan but also reduces fuel consumption.
Let’s say for example, with a well-functioning carburetor, you might only spend N1,000 on fuel for the entire day.
On the hand, if the carburetor is not in proper condition, fuel consumption increases.
Maintenance costs are budget-friendly, and replacement parts are readily available.
Therefore, do not to overlook maintenance to prevent higher expenses on repairs.
Keke Napep business is a very lucrative business to embark on.
Instead of sitting at home complaining of no work, one can easily go into the business and become financially independent within a little space of time. Do well to follow the steps above and the sky will be your starting point in this lucrative business. Good luck!
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