How Profitable Is Keke Napep Business In 2023: Everything You Need To Know

In Nigeria, having a Keke Napep business is a smart way to make money nowadays, and the transportation industry is also a very successful business idea.

The intriguing aspect of this industry is that earning money from Nigeria’s popular form of public transportation doesn’t require you to become an expert Keke napep driver but know the crowd-flooding routes and have the basic knowledge of driving. 

You may simply find out how much Keke napep costs in your area, buy a new or decently used tricycle and earn money by hiring a driver to bring you money each day.

Factors that increase the profitability of the tricycle industry

1. Since some state governments have banned the usage of Okada (business motorcycles), there is a great demand for the transportation of passengers back and forth.
2. Because it is less expensive than other forms of transit, it is currently the most popular form of street transportation in the nation.
3. The Nigerian government, which supports the tricycle sector, is planning to increase the use of tricycles by introducing solar-powered Keke Napep.  As a result, we may conclude that starting a tricycle business is a viable business idea.

How You Can Use Keke Napep To Earn More  

There are several ways to use your trike to earn money. Once you can afford a tricycle, you can earn money without operating it. You can easily obtain a loan from a microfinance bank for your Keke Napep business if you have a strong business plan.

Here are a few simple ways you can earn money with your tricycle.

You can own a Keke and hire someone to ride it and send daily cash transfers to you. Keke napep hire-purchase entails purchasing a tricycle, giving it to a group of Keke riders or tricycle riders, and receiving payments on a daily, weekly, or monthly basis.

If you choose the Keke hire-buy method, the tricycle driver will now be the new owner once the contract has expired. You should thus enter into a solid contract with the tricycle rider or the tricycle riders’ association. By doing that, you will generate more money in addition to recovering your investment in the keg.

Opening a Tricycle Business is one of the ways to go. You can start a tricycle business and hire people to ride your trike. With this approach, you can receive daily returns and pay your drivers at the end of each month.

How much does Keke Napep cost?

The cost of keke napep varies depending on the brands, where it is purchased, and currency exchange rates.

Only a few well-known tricycle brands—Suzuki, Daylong, Bajaj, Piaggio, and TVS Keke napep—have established their dominance in the Nigerian market since the Keke Napep’s debut. Price varies since you can buy a brand-new tricycle or one that is only moderately used, depending on your financial situation.

In Nigeria, prices for commodities are always rising due to a number of different variables, so prices will always change.

Brand New Keke Napep Price 

Daylong Tricycle: 750,000, 000–700, 000

Bajaj Tricycle: N860,000, 000 – N950, 000

Piaggio Tricycle (Diesel engine): N1,050, 000–1,200, 000

Second-Hand Keke Napep Price 

Daylong Tricycle: N450, 000–N500, 000

Bajaj Tricycle: N600, 000–N750, 000

Piaggio Tricycle (Diesel engine): 800, 000–N950, 000

What does Keke Napep deliver on a daily basis 

You could run one yourself and make an average of N8,000 each day.  But, you have to consider the ticket charges in each park. However, you can hire someone to operate it for you and receive a daily return of N2500 if you feel that doing so would diminish your status. As a result, you will need about 3–4 tricycles to earn N200,000 each month.

Let’s say you had to teach yourself how to operate the Keke and run the company. Even if you are only able to work for 25 days out of the month rather than every day, you will still make N200,000.

Calculate 8,000 x 25 to get 200,000.

Monthly revenue equals N200,000. 

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As you can see, this price is what you could pay each month.

Conclusion 

In conclusion, the tricycle industry is incredibly profitable and doesn’t require any clients or marketing plans to function. All you need is a bicycle and the motivation to work for a living, either on your own or by hiring others.