See How Minibus Business Is Booming In Lagos Now

You might be shocked at how profitable a minibus business is. Let’s face it; not everyone can afford to buy a car. Nevertheless, everyone will need a means of transportation to move from one location to another. Because of this, anyone who is involved in public transportation stands a chance to make lots of money. It is quite easy for anyone to get involved in a minibus business. Compared to bigger buses, minibuses are less expensive and cheaper to maintain. 

Lagos is a vibrant city in Nigeria with thousands of people in need of a minibus to convey them to their various destinations. In fact, most Lagosians will rather board a minibus than a large bus because the full passenger load will get completed in a short time in minibuses. Smart Nigerians have seen the money-making potential in the minibus business in Lagos and have quickly gotten involved in it. 

How Much Can A Minibus Driver Earn Per Week

I hope you don’t scream if I tell you how much a minibus driver earns weekly. As a matter of fact, most of them earn much more than those in the corporate world involved in white-collar jobs. On average, a minibus driver earns about 25,000-35,000 NGN per week. That means they earn about 100k-140k per month. Remember, this is an average; they can earn much more! 

Factors That Determine How Much Minibus Drivers Earn Per Week/Month

1. Location:

Where a driver is located often affects how much he earns per month. A minibus driver around Lagos Island tends to earn more than those on the mainland.

2. Distance/route:

The route a minibus driver trods influences his earnings. For instance, a minibus driver who takes passengers from Berger-Oshodi stands a chance of earning more than the one that goes from Berger to Ketu. This is because, the longer the distance, the more the driver can pick up more passengers along the road as other passengers drop off.

3. Traffic/rain

If you are a Lagosian, you will know that Lagos minibus drivers are fond of drastically increasing transport fares anytime there is traffic/rain. Sometimes, the fare can be double or triple the usual price. Anytime this happens, the driver earns more. 

4. Maintenance

This last point actually depends on the condition of the minibus. It’s usually advisable for minibus drivers to have their vehicles in good condition so that they won’t have to keep spending unnecessary money always maintaining them.

5. Surge

There are times in the day when there are many passengers. In most cases, mornings (5-8 am) and evenings (4 – 8 pm) are usually surging times when you can take a full passenger load to and fro. Minibus drivers who master these times tend to earn more. 

How Can You Make Money From Minibus Business

There are various ways you can get involved in the minibus business in Lagos. You can explore any of these options;

Minibus Dealer

If you are a dealer, then you are involved in the sales of minibuses. You can sell either brand new, foreign used or Nigerian used. Depending on your business plan, you can choose to sell in hire purchase or full purchase to customers.

Minibus Leaser

Being a minibus leader means that you buy a minibus and then rent it out to drivers for use. You have to get into a signed agreement with the driver(s) where you agree on how you split the profit. 

Minibus Lease

As a minibus leader, you are not the owner of the bus, but you are the one behind the wheels driving the vehicle. You can earn money from this and give the agreed amount to the leader.

Minibus Driver

Minibus drivers are usually higher in number than the other three. It’s also a good way to earn money from a minibus business.

How Much Is Minibus In Nigeria

The price of a minibus varies depending on the brand, year and model. Also, the price of brand-new, Tokunbo and Nigerian-used minibuses is different. The table below shows the price of popular minibuses used for business in Nigeria;

CAR MODEL	PRICE IN NAIRA
Daihatsu Hijet 2004	₦450,000 – ₦600,000
Daihatsu Hijet 2009	₦650,000 – ₦700,000
Daihatsu Hijet 2012	₦800,000 – ₦1.1million
Suzuki Every 2003	₦ 900,000 – ₦ 1.6 million
Suzuki Every 2005	₦1.1 million – ₦ 1.5 million
Suzuki Every 2007	₦1.4 million – ₦ 2.1million
Suzuki Every 2013	₦2million – ₦ 2.7 million
Nissan Urvan 1995	₦1 million – ₦1.3 million
Nissan Vanette 2003	₦2.1million – ₦3.1 million
Nissan Caravan 2010	₦3.2million – ₦4 million
Nissan Urvan 2015	₦ 9 million – ₦14 million

How To Succeed In Minibus Business In Nigeria

With all I have said thus far, you just might be tempted to start right away! These tips will help you to know how to succeed big-time in this business;

1. STICK TO THE ASSIGNED ROUTES

Lagos has a lot of rules that dictate the routes minibuses are supposed to pass. You will not want a situation whereby you are harassed by the policeman or park chairman because you didn’t stick to the assigned routes.

2. DECIDE HOW YOU WANT TO BE INVOLVED IN MINIBUS BUSINESS

Not everyone can be a minibus driver. Find out if it is easier and more effective for you to be a Lease, a driver or a dealer, then do that which is convenient for you. The important thing is that you are making money from it.

3. BE AWARE OF THE ROAD RULES

In Lagos, traffic rules are usually adhered to. Be aware of the rules that guide transport in Lagos (or your routes in Lagos) and follow it. You definitely don’t want a case with Road Safety.

4. HAVE A DAILY EARNING TARGET

Having a target for your earnings will make it possible for you to set measures to reach it. How much do you want to earn daily? What do you have to do to make you earn it? When you set your target, you can decide the location in Lagos that can help you achieve it and be open to seizing opportunities for profit when it opens.

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CONCLUSION

Minibus business can never go out of fashion. There will always be a need to transport people from one place to another. So, right now, this business is booming and you might want to consider joining the train.