When talking about street transport, tricycles are the number one means of street transportation in Nigeria right now. They came into limelight after the ban of motorcycles, majorly known as Okada. You can earn 120,000 naira monthly or even more with an investment Keke Napep.
We shall take a look at Price of Keke Napep, how profitable is a Keke napep business and how to start a tricycle business in Nigeria!
Are you contemplating whether or not you should start a Keke napep business, here is a list of reasons why you should?
Why Keke Napep business is lucrative
- The need for affordable transportation from the suburban is huge, as a lot of commuters who live far away from the city center can’t afford the cost of daily transport by taxi.
- As motorbikes have been banned, thousands of Keke Napep would be needed in major cities to meet the demand of transporting passengers to and fro cities.
- Keke Napep industry is supported by the Government. It actually has announced its plan to boost the use of Keke Napep by introducing solar-powered Keke Napep with the 2019 budget.
Business Ideas with your Keke Napep & how much the profit is
There are many ways you can earn money through these ideas and make a profit. Here are some of them.
- The most common way, you can drive a tricycle yourself. An income of N4,000 can be made in a day and an average of N100,000 in a month.
- If you don’t like driving, you can purchase a Keke and hire a trustworthy person to ride it for you while paying a particular sum to you every day.
- You can also own a Tricycle transport company. You may purchase about ten (10) tricycles and employ trained and experienced persons to drive them. Drivers could be paid monthly.
- If you cannot oversee the aforementioned business, you can begin a Tricycle hire purchase service where you purchase a number of tricycles and give to the Keke Napep riders associations or a particular Keke rider. They will keep on paying regularly until the initial sum invested and some interests have been paid. A profit of about N50,000 and N 150,000 can be gotten in three to six months depending on the initial agreements.
- You can start a shuttle service with Keke Napep just as a car shuttle business.
If you cannot foot the bills of starting this business, there are banks, co-operatives and Non Governmental organizations who can willingly fund the purchase of your tricycles while you pay back a portion to cover your loans. With the profit you earn, you can pay up in 3 months. A Tricycle can last 3 years on average.
How much is Keke Napep
Model of tricycle, place of purchase, time of purchase and currency exchange rates are key factors that determine keke napep prices in Nigeria. The price list below is different for different brands. A new Tricycle is sold at from N500,000 to N850,000 while fairly used one priced at N200,000 – 300,000 on average.
Prices of brand new Keke Napep in Nigeria
|Brand new Keke Napep prices in Nigeria|
|Bajaj||₦600,000 to ₦850,000|
|Daylong||₦500,000 to ₦600,000|
|Piaggio||₦550,000 to ₦700,000|
|TVS||₦550,000 to ₦700,000|
Prices of fairly used Keke Napep in Nigeria
Tricycles are durable and if they are properly used, they can be sold to another person. The disadvantage of buying a fairly used tricycle is that it can develop fault more easily than a brand new one. The variation in the prices depends on how long the tricycle has been on the road.
|Fairly used Keke Napep prices in Nigeria|
|Bajaj||₦200,000 to ₦350,000|
|Daylong||₦180,000 to ₦350,000|
|Piaggio||₦180,000 to ₦300,000|
|TVS||₦250,000 to ₦350,000|
What you should consider when buying a tricycle
- Budget: Keke prices vary, so you may need to purchase the one that suits your pocket.
- Brand: When acquiring a tricycle, it is important to take note of the brand. Certain brands like Bajaj have a good reputation for producing quality tricycle. You may want to avoid brands that have not been tested.
- Fuel consumption: Fuel is important in the day to day usage of the tricycle. Although tricycles generally economize their use of fuel, brands like piaggio incorporate a technology that helps you save fuel more than other brands.
- Availability of spare parts: you may want to avoid brands that were just introduced into the market as their spare parts may not be readily available.
- Durability: Nigerian roads are not in its best state, especially in rural areas. The condition of the road is not friendly to vehicles that ply on them, hence the need for tricycles that are long-lasting and tough.