Transportation as a Service is a good way to make money in the transportation industry without forking out a lot of initial capital investment.
Infact, TaaS could serve as another form of flipping transportation assets for passive income.
That might sound like a new phenomenon, but it is doable and people are currently making money out of it.
So how does Transportation as a Service work and how can you make money out of it?
In this post, we’ll look at different ways to invest in transportation business as a service, with a little financial outlay, and without purchasing any vehicles.
All you have to do is provide the right system to make transportation work, and you’d be cashing out some good monthly passive income.
Let’s see some forms of TaaS that are doable in Nigeria right now.
Keke (Tricycle) Hire Purchase
Keke (Tricycle) Hire Purchase is rampant in Nigeria. Most Keke assembly plants nowadays do not sell their tricycles outright. Instead, they find hire Purchase deals where the lessee pays instalmentally.
That is where you come in.
You can help facilitate hire Purchase deals for these companies by providing upfront fees as well as management of the vehicles.
For example, you could find youth looking for jobs and empower them to start earning income by driving tricycles.
All they have to do is provide a guarantor who they live with, then you help them pay the agreement fees for the hire Purchase deal.
The lessee reports directly to you, while you report to the leasing company as the guardian.
If the hire Purchase agreement stipulates that the lessee pays double the original cost of the tricycle, you could add a markup to it, up to half of the original price of the tricycle, and that would be your profit.
You could even start collecting your own share of the deal right from the first week of work until the payment is completed.
This would give you a handsome cashflow that you could put into more hire Purchase deals.
Do these for more hire Purchase deals, and you would have a handsome monthly passive income.
Bus Fleet Management
Buses are money spinners in Nigeria if utilized the right way.
But the problem is that most buses are either mismanaged or not fully utilized for maximum profit.
That is where you come in.
You can start a bus fleet management company that helps people invest in transportation business.
All you have to do is build the right system to properly utilize buses under your management.
This could be by having the right network of transport and logistics chains, having relationships with big brand transport companies looking to incorporate external vehicles, etc.
You would act as the intermediary between transport investors and transport companies utilizing the vehicles.
All payments and remuneration would go through you, out of which you would have your own share.
Bolt App Transport Partnerships
Bolt is arguably the number one e-hailing taxi company in Nigeria right now.
What that means is that Bolt has thousands of drivers and riders, which form a very lucrative transport ecosystem.
This represents millions of Naira in revenue that is there for the taking.
You could start a company that helps investors and partners get on the Bolt money-making carousel, and make serious income out of it.
For example, you could approach car dealers to help them put vehicles on the Bolt platforms.
Instead of waiting for a buyer to buy their cars outright, they could earn almost double the price of their cars by putting them on Bolt and receiving payments instalmentally.
All you have to do is provide responsible drivers to drive the cars and manage payments and remuneration via the Bolt App.
Conclusion
Transportation as a Service (TaaS) is an absolute money spinner in Nigeria, but only a few people are currently engaged in it.
If you have good management skills and can network with people in the transportation industry, nothing should stop you from making good income by investing in Transportation as a Service (TaaS) in Nigeria.