If you’re an entrepreneur who’s currently in Nigeria, you might be wondering what options are available to you. Thankfully, Nigeria is one of the best countries in Africa to be an entrepreneur, and there are loads of ways you could make it big. As the most populous African country, your market is huge and the upside could be massive. If you haven’t thought about it already, then starting your own transport company in Nigeria is a great business idea. But what different transport options are there? In this article, we’re going to have a look at a few different types of transport businesses so that you can get started, as well as some tips for how to get into each of them.
Taxis and ride-hailing
One of the most popular new business ideas in Nigeria is making the most of ride-hailing apps like Uber. Taxi drivers have been around for a while, but now new markets and new ways of doing business are being opened up. You can make the most of these new markets as an entrepreneur, whether you’ve previously been a taxi driver or not.
Ride-hailing has seen huge growth in Africa, and you could be a part of that growth too. Usage of ride-hailing apps is set to grow to 9.6% by 2023. There’s a lot of money to be made from ride-hailing. Uber recently expanded into Africa and is seeing some good growth, but that’s not the only way to make money from ride-hailing on the continent.
While Uber is a great marketplace, there’s really not much scope for growth there. It’s good if you just want to drive for yourself and be your own boss, but there aren’t as many options to scale up and become OTHER people’s bosses. That’s where the real money is to be made—by starting your own taxi business or your own ride-hailing app.
If you want to start your own ride-hailing app, it might not be as hard as you think. Software packages like Onde.app give you a range of tools to set-up and your own white-label ride-hailing business. Starting your own ride-hailing business is a great idea for those who want to avoid some recent curbs to Uber in some areas, as well as having the ability to grow your own venture and become a local employer.
Once you’ve started your own ride-hailing app, you’ll need to set fares, hire drivers and promote your app so that people use it. Make sure all customers get a great experience and that your drivers offer a friendly, clean and comfortable service at all times. The sky (or the road) is the limit!
Another transport business that could see some growth as Nigeria’s economy develops is the logistics industry. As more and more people buy stuff online, it needs a route to get from the manufacturer or warehouse to people’s homes. Not all of Nigeria has been covered efficiently. so there is room for growth and improvement in this industry. You’ll need some lorries (or other appropriate vehicles), some clients and some drivers—but you could make it big as the next big logistics boss in Nigeria.
Are one of these options for you? The transport industry should continue to grow as Nigeria’s economy does. Whether you choose taxis or lorries, there’s money to be made.