Only 20 out of every 100 commuters own a car, this explains why transport business is one of the most lucrative businesses to do. When you hear the amount some of the known transport companies in Nigeria rake in on a monthly basis you will be surprised. If those drivers that drive the rickety yellow buses on the street of Lagos make a huge amount of money on daily basis, nothing will stop a standard transport company from making it big.
Another major reason why transport business is very lucrative is that most transport companies now run logistics too. When you take an honest visit to some of the transport companies in Jibowu, Yaba Lagos, you will be surprised to see tons of goods that are taken to the company for them to be delivered to their respective destinations. With all of these points mentioned, you might start thinking of establishing a transportation company in Nigeria.
In this review, we will explain how to start a transportation company in Nigeria.
Make a decision on the Transport you want
Decide the type of transport company you want to do whether it is okada, bus, or Maruwa. You must know that the requirements differ based on the type of transport you want to do.
Decide The Route
Whatever type of transport system you want to use, it is important to select the route you will be running. For instance, commercial buses go to different routes in Lagos. Also, there are buses that travel outside the state. You must select a route for your transport company. It helps your target customers to identify your company.
Get your Vehicle
It is one thing to purchase or get a vehicle, tricycle, or okada on hire purchase, it is another thing to get all the necessary papers. You don’t want to become a target for law enforcement agents once they know you don’t have your complete papers. Ensure you make research on what papers are required your type of transport services.
Register Your Company
Once you get everything set, endeavour to register your company. The registration of your company will give it leverage over all other transport companies within your jurisdiction. Aside from the fact that it is a legal thing to do, it also builds some level of trust in the mind of your customers.
This might be optional depending on the size of your company. If your company is small, you can run it all by yourself. But when the company starts growing, there will be a need for you to hire more hands. Ensure you hire professional riders or drivers that are averagely educated enough to obey all traffic rules.
Join Union and Professional Bodies
As a transporter, you can not run your business in isolation. There are unions that every transport company must belong to, they serve as a means of social Identity to every transport company. Also, there are professional bodies that regulate the operation of transport companies, ensure that you belong to one.
Do Insurance: If you are the rightful owners of your vehicles, okada, or tricycle, it is wise that you insure all of them.