I want to introduce you to the mini bus business in Lagos, Nigeria. This business has been booming since mini buses landed in Nigeria, but not many persons understand how it works. For this reason, the number of people into a mini bus business in Lagos become quite a few.
Friend, you don’t have to sit down till God comes down to tell you that he has answered your prayer. Your prayer was answered the moment mini buses landed in Lagos. Meanwhile, people are struggling to enter buses early morning for work and other things.
Thousands of mini buses are shipping into Nigeria, but only a few are does something about it. At least, there are sharp people Nigerians out there who know about this business. For some who need a little more guide and encouragement, come in here.
Right now, movements are happening in Lagos, and people are looking for commercial bus services. Are you still sitting down there? My man, don’t question anybody anymore. It is the business you need. In short, let me start explaining this mini bus business in Lagos for you.
Cost of Mini Bus in Lagos
The mini bus comes in ranges, and these ranges each have their prices. Depending on your pocket, you could go for a brand new mini bus. But it will cost millions. For instance, the Suzuki Every 2WD manual transmission will cost as high as 4.2 million Naira. And the automatic model can go as high as 5 million. I do not know how well packaged you are but if you aren’t then tokunbo is a good option.
The tokunbo are in no way terrible mini buses. Most of the mini buses you find on Lagos roads are tokunbo and they last for a long time. If you keep between 700 thousand Naira and 1.2 million Naira, then a tokunbo mini bus can be yours.
Again, you might even be lucky to see a secondhand in Lagos. I don’t recommend a secondhand, especially if it looks too old. For me, instead of a second, that may distract the business, getting a mini bus on hire purchase would do.
How Much Can You Earn from Mini Bus in Lagos
Here in Nigeria, a place like Lagos is making a bus driver ‘chief in town’. If I should disclose how much this mini bus business in Lagos pay, you might steal somebody’s mini bus. And I am in now way hyping the mini bus business in Lagos.
The moment you get your hands on a mini bus, whether on hire or full purchase, making money has started. You can even begin to loading people right from where you’re buying the mini bus. I warn against it though, unless the papers are complete.
The mini bus business in Lagos can yield money depending on you or the person driving. Other determining factors are the route and the time you put your bus on the road.
But on average driving, you should earn nothing below 25,000 to 35,000 per week. It is just an average weekly estimation which means you can make even more, depending on yourself and the road.
Did you know? A mini bus driver in Lagos earns more than some professional workers and government workers? It’s only those who are ignorant that don’t know that mini bus can attract 100K in one month.
How You Can Be Part of this Business
To become part of the business is simpler than you think. If you just see the bus you want, within one week, it should be ready for Lagos roads. You can get a mini bus on hire purchase, lease or full purchase to start the business.
What do you need?
You can buy mini bus for mini bus business in Lagos on:
- Full purchase
- Hire purchase
On full purchase, if it’s a tokunbo, the stress will not be much. But if you’re going for a brand new mini bus, the pressure will grow and it’ll be costlier. And the worst would be if you’re buying it directly from Asia. When you’re getting a tokunbo, here are what you should demand.
- Mini bus receipt (original)
- Police report papers
- Custom documents (stamped)
- Plate number allocation paper
To add to this list will be insurance papers if the mini bus has been insured in Lagos. If not, do so to avoid spending too much when an incident wrecks the bus.
If you’re getting the 7-seater bus on hire purchase, it’s even more comfortable. The only stage is the terms and conditions agreement which you have to agree on. During the hire purchase talks, these are what should be included:
- Statement of parties’ right
- Description of mini bus
- Price of mini bus
- A form stating mode of payment, etc.
When done, you can splash the mini bus with Lagos commercial vehicle colour, yellow with black stripe.
Where to Buy on Hire Purchase
Buying a mini bus on hire purchase is the smartest way to own a mini bus. Having the big money to pay and get one may be more challenging, so this idea is excellent. It, however, requires paperwork and involves the court too.
It’s good so that anyone who breaches the agreement will face the law.
You can get a mini bus on hire purchase from so many mediums. It’s even more comfortable when you find someone willing to do so. Also, specific mini bus dealers give this offer in Lagos.
Walk into any of the dealer stores and make inquiries to know who can sell on hire purchase. Going online is also a good idea but you must beware of fraudsters.
How to Make Money from Mini Bus Business
You can earn in mini bus business in Lagos from any of the following ways.
- Mini Bus Dealer
- As a driver
Mini Bus Dealer
This type of mini bus business in Lagos is quite different from the others. It is a more demanding and complex means but gives significant returns. If you are going in as a dealer, you should be ready to spend big and gain big. During this period in Lagos, people are venturing into commercial driving and it is mostly the mini bus in Lagos.
To get this started, you might require a considerable loan, if your money is insufficient. Also, you’ll register with several commissions and run some paperwork to become eligible in Lagos. The processes will be made available on subsequent posts.
To sell, you can sell on hire purchase or full sale to the buyer. Hire purchase might take time for you to recover returns.
Here, you are to buy a mini bus and then rent it out. It means that you will have to enter certain agreements with the driver and decide on how much you would be paid. The pay might be either daily, weekly or monthly. Some people prefer it weekly while most others prefer monthly. It’s all up to you, but I don’t recommend getting the pay daily.
The lessee is the opposite of the leaser in the mini bus business in Lagos. As a lessee, you will rent mini bus from a leaser and put it on the road. You will pay the leaser as agreed or before leaving with the bus, but the bus can never be yours. If you want the bus later on, you’ll have to enter the deal as a hire purchase.
Earning this way is best because you won’t have to be hearing stories here and there. You will also make higher and no other person will have to get a cut. It’ll however not be the case if the mini bus is on hire purchase because you’ll be paying on installment.
The best is when you spend between 700k and about 1.2 million Naira from your pocket. The only thing you’ll worry about here is tax and other registration charges which are easy to cover.
Hitting the Road with Your Mini Bus
If you’re running the mini bus business in Lagos park, you have to settle the park chairman. It should cost between 7,000 Naira and 15,000 Naira, depending on the park in Lagos. Besides, this is one of the best places to earn with the mini bus.
Certain routes are prohibited and you must look out for them. You can ask your business partners to guide you on such roads.
Moreover, certain payments and papers are essential to have on you. Some agencies move around in vans and all of that to supervise. If you do not know what documents or tickets are needed, ask questions. Like I said earlier, some locations have factors that determine what goes on and what does not.
I am also sure that there are some commercial services that mini bus owners are not allowed to run. It is because they are others like the Keke owners and they must also make their money.
Before or immediately after hitting the road, please insure the bus. Things happen, but nothing will happen to you. However, insuring your mini bus in Lagos does not just cover your mini bus also helps the business.
I’ve seen a lot of crashed mini buses and the problem is just the money for repairs. Now, if the owners had insured, it won’t even stay up to a week where it is. Also, think of the amount of money being lost during the break period.
How to Succeed in Mini Bus Business in Lagos
It is straightforward to succeed in mini bus business. The essential thing to know is that focus matters. Without direction, you won’t see enough earning. In this business, too, you don’t have to kill yourself. People leave the house and stay on the Lagos roads with their mini buses for two days and even more.
This is how they think they’ll make more money but it doesn’t work like that. Here are what you should observe to succeed in this business here in Lagos.
Study the Assigned Routes
Mini buses have routes they operate in. Some are assigned while some are just naturally there because of the money generation. What most people do is to put their mini buses on the road immediately but you shouldn’t do so.
Know the Road Rules
Here is one of the reasons why mini bus business costs. However, knowing these rules and avoiding them mostly cuts the cost. Another way to cut costs and increase earning is to know what tickets to buy and not to. Know when a document expires and fix it.
Most importantly, you don’t want to be a victim of Nigeria’s road safety patrol. Endeavour to have your seatbelts on at all times and renew licenses to prove mini bus ownership and others. You may never be able to find out everything, so you need to ask questions.
There are joints that most mini bus drivers stop to discuss, relax and eat. Walk up to one of them, buy lunch ask other drivers
Decide Whether to Drive or Employ a Driver
Not everyone is good and can be well dedicated to something. If you want to succeed, study yourself. Find out whether you can function in the business or not. Otherwise, employ a driver who will be doing the job and paying you when you like. You can even save more money and buy another one for yourself or another driver.
Set a Daily Target Earning
Don’t just drive, or you will not know when the day ends or breaks. If your target is 5,000 Naira, drive till you hit it and then go home. However, this won’t always be the case, as some days may not turn out well. When there is no flow on a particular day, do the following:
- Consider switching locations to maximize profit.
- Take a break and don’t burn your petrol.
- Lookout for businesses that need mini bus services at that period.
Apply for Online Driving Schemes
Now that Nigeria is making a step towards modernity, you are responsible for your success. We have companies like Dryva render support for mini buses. In Lagos, just be alert and register to the online driver service that supports mini buses.
Having gone through all of these discussions on mini bus business in Lagos, what do you think? Do you have a question? Are you wondering where to buy your mini bus at a low price? Then get to me.
Lagos is too big and busy for you to allow it to waste. As entrepreneurs, we don’t wait for the government; we become our government.
If this techniques do not work for you, become a yahoo boy.