Transportation Business Plan In Nigeria PDF / Feasibility Study
Transportation is the movement of people from one place to another. This is indeed the simplest definition of transportation but transportation goes beyond the movement of people, it also includes the movement of goods, animals, crops, machines, equipment etc from one place to another. Transportation is as old as man itself. We cannot talk of people without mentioning transportation. As individuals, there are limits to our capacity to move things from one place to another. Also there are limits to distance we can cover.
In the olden days, our ancestors transport themselves and their commodities from one village to another by carrying things on their head or by using animals. As civilization came to existence such means became useless and insufficient. We are going to look into the different aspects of transportation, including the ones used by our ancestors and a brief insight into the advantages and disadvantages.
We have different types of transportation including :
We will focus on road transportation, road transportation is our main reason for this article/business plan.
Types of Road transportation
Animal: This is the movement of people, goods, crops etc by using animals including donkey, camel etc from one place to another. It is mostly used by farmers to transport their crops from one place to another and also by travelers to move from long distance to another. The advantage is that it is cheaper, the animals only need water and food when compared to other means of transportation that requires fuel. The disadvantage is that there is a limit to what it can carry, besides the animal can fall sick or die by the way.
2. Walking : This is still in existence, people still walk long distance and even transport goods by carrying them on their head.
3. Automobile: This is a vehicle powered by internal engine. It can also be used to transport people and goods from one place to another.
4. Cycling: This includes bicycle. This can also be used to transport people and goods from one place to another. It saves time and it is one of the most cheapest means of transportation.
5. Bus: This is used for transporting people and goods from one place to another. There are different sizes/capacity. Some bus can carry 18 people or even 32 people depending on the seat.
6. Heavy duty vehicles: These are vehicles designed for heavy work for example pick up truck, truck tractor with GVWR of about 26,000 pounds, heavy duty trailers and tankers. These are used for the transportation of diesel, fuel etc. The goods transported are harmful to human health. And also when involved in accident can lead to disastrous loss of lives.
Transportation business is a very lucrative business, because people transport daily. Humans are bound to move from one place to another. And they do so mostly with public transport. Transportation business is mostly in demand during festive/celebration period like Christmas, Easter and so on. This is because people move from one place to another to be with their love ones. Let us look at the various means of road transportation and vehicles you can get to start your transportation business. These vehicles comes in their various sizes and prices.
This is very popular and affordable to get but it’s demand has reduced because Government has bound it’s use in major cities. It can only be used in limited and certain areas in the country making it almost unprofitable.
This has taken over motorcycles. It is now used in major roads and also in streets in the country. It can convey as much as 5 passengers.
Town service (Taxi)
This is vehicles used on major roads, it can accommodate as much as 6 passengers. In some cities it is used as ‘drop’. Drop is when one passenger pays for the whole seat and he/she is taken home directly.
This can convey as much as 16 or more people depending on the size.
This are heavy duty machinery.
Ways you can start transportation business in Nigeria
Tricycle (keke) / hiring service
You can purchase a keke for about 600,000 naira or buy a taxi for 1million or less depending on if it is new or tokunbo. You can hire this vehicle out to people and get daily returns from it.
Hire Purchase service
This involves buying keke or taxi and giving it out to someone to work and pay you more than the amount you bought it . For example, you buy Keke 600,000 and the person is given six months to work and pay 800,000 to you, after which he can take the keke as his own personal one.
This is the transportation of people from one place to another and a particular amount is charged. Here, you get a qualified driver.
Tips to starting transportation business in Nigeria
Conduct Feasibility Studies
This is important, you must be aware of what you are going into, this business requires thousands and even millions of naira, you can’t afford to throw your money away over ignorance. You check what the market has in store for you. The dos and donts. You will also check your competitors, ways to be unique and also unions to join. You can get these information by asking those that are there before you and also checking the internet.
There are various vehicles and their prize tags depending on your choice. We have tokunbo which is cheaper and new ones. You will need 600,000 to 1million or more to get a vehicle. It is better you go for new ones because they are better and last longer.
Registration of vehicles
It is important that you register your vehicles so as not to encounter problems with road safety. You can register you’re vehicle with Federal Road Safety to ensure that your papers are complete and also with National Union Road Transport Workers.
It is important that you start your business in a good location that people can easily find it.
Employ qualified and experience drivers
This is to ensure safety.
Insure your vehicles to avoid unfortunate loss.
This Commercial Transportation Business Plan can be used to access bank loans, proposal writing and grant applications etc. The business plan was complied after a thorough feasibility study on Transportation Business in Nigeria was done.
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