Business & Investment

9 steps to start KeKe (Tricycle) business in Nigeria

See the steps to start KeKe (Tricycle) business in Nigeria. Tricycle popularly called Keke Napep is one of the transportation businesses that are making waves in Nigeria presently.

Some of the densely populated cities like Lagos are dare need of this transportation, hence, if one can venture into the business it would be an ideal one.

Motorcycle popularly called “Okada” which is another means of transportation is getting people involved in so many accidents which end up claiming people’s life. As a result of this, many people are running away from it, and coming to Keke Napep, believing that Keke is much safer.

Even though governments have taken the necessary steps to introduce some transportation systems like BRT in Lagos, trains in different parts of the country and others, but that has not reduced the population of people regularly seen at bus stops in the morning and late evenings, waiting for the vehicle.

Read Also: How To Start Boat Transportation Business In Nigeria

Aside from that, there are still some interior parts of the country those commercial buses cannot enter. Residences of such places are left to trek a very long distance before they can board a bus to their business places. It then becomes apparent that anyone that ventures into Keke Napep business will make it. All it takes is for the person to get the necessary knowledge about the business and start making his profit. Click for more information tricycle business in nigeria.

Just like every other business, you need to have good knowledge of Keke Napep business before you venture it, else, you will be a failure in that business line. I am going to walk you through some steps you need to undertake in order to start a Keke business here in Nigeria.

Let us have a look at how it can be started.

1. Buy Your Keke

The first step is to buy the Keke Napep which you will be using for the transportation business. It costs about N900,000 only.

2. You Can Go for Second-hand Keke Napep

Sometimes, it is advisable to go for second hand Keke Napep, but considering the money involved, you can decide to go for fairly used which costs around N180,000 to N240,000. The new one is very good but note that you can go for fairly used instead of brand new Keke.

3. Hire Purchase

It is not everyone that can afford to buy a Keke, so if you don’t have such amount, you can go for hire purchase. Leasing cost about N650,000 which you can be making a weekly payment of N15,000 for 10 months.

It is not really pinned at that price, you can still meet your hire purchaser and deliberate on the mode of payment.

Read Also: How to Start Transportation Business in Nigeria

4. Get Registered With Keke Business Association

Keke Napep riders have an association, so when you get your Keke, register with them as soon as possible. This ensures you have some measures of security and it costs N5,000 to register.

Apart from the registration fee, you are expected to pay the association a certain amount of money on a daily basis, you need to make provision for this too.

5. Do The Business By Yourself

When you the Keke Napep business by yourself, you will be encouraged by the profit you get on daily activities. Giving it to someone to run the business might not really yield much profit like when you are doing it yourself. This is because some are not trustworthy and might want to divert some of the profits realized.

6. Make Provision For More Keke

As you are progressing, you can decide to go for more Keke Napep. In this case, you will need to hire someone that will join in doing the business with you because you cannot be driving two at the same time. Since you are in business, it will be easy to monitor the other person.

7. Open A Separate Account For It

The best thing to do is to separate your personal account from the business account. This will assist you in monitoring how the business is growing. You need to discipline yourself to be able to maintain this account and avoid spending money from it anyhow.

8. Don’t Neglect Maintenance

One thing that runs Keke Napep business down is lack of maintenance. Some would drive it for a long time without caring to ask Keke mechanic to check it for them.

When a regular check is carried out on the machine, it extends its lifespan and consumes less fuel. For example, if the carburetor is in good order, you can spend just N1,000 on fuel for the whole day but if it is not in order, it consumes more fuel. The maintenance is cheap and the parts are easily found, so don’t neglect it to avoid spending more on repairs.

9. Agree On Means Of Remittance If You Hire A Driver

It is necessary to agree with the driver before he resumes on the method to adopt for remittance. In this instance, two things are considered: (i) The state of the Keke at the time of purchase (ii) Is the driver working on Saturdays and Sundays?

One thing that influences the amount to be remitted is the location of the Keke Napep plies. If it’s a busy place that has many passengers, definitely the turn up should be on the high side but if people there are not much, it might not really have a high turn up. In that case, it is better to look for a place that has many residents that go on public transport.

Yet another is the state of the Keke Napep. If it is in good order, it will definitely increase the turnover but if it is not, most of the incomes will be going for repairs and the majority of the time it supposed to be on the road will be spent in a mechanic workshop.

Once you arrive on this, set out the amount he should be remitting and stick to it.

Conclusion

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 a millionaire within a little space of time. Just follow the steps stated above and the sky will be your starting point in this lucrative business.

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Chinonye Ikebaku

Chinonye is an IT Expert and a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

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