Inter-State Bus Transport Business In Nigeria, How To Start
Are you seeking to start a bus company that will ply various routes in Nigeria, then look no further because you have come to the one stop information blog where we will break down the process of setting up an inter-state bus transport business in Nigeria. But before we go through that, you will need to read about small scale commercial bus transport business in nigeria, how to start. Below, we shall be going through the guidelines.
Steps Involved In Setting Up An Inter-State Bus Transport Business In Nigeria.
1) Capital: Setting up this kind of business is capital intensive so therefore, there is need for one to have a very huge capital at his or her disposal before this business can hit the ground rolling, as this capital will be used for purchasing both assets and liabilities.
2) Register The Bus Company: This is the next and most important step that one needs to carry out. Once the decision has been made to set up this business then a name should be given to the company which will in turn get registered in the CAC.
3) Purchase of Assets And Liabilities: With the required fund available, after the company has been registered, one will need to make expenses on Assets for the company, assets such as getting a bus park where passengers will load up from before take off. various buildings will be around that area for both arrivals and departure. Based on the required fund available you will want to set this up in just two locations say in STATE A and STATE B, before you start to think of expansion to other states. Liabilities such as the brand new buses and other office equipment’s. These buses are not cheap they cost about N7,000,000 Naira and therefore you will need the service of an expert to manage these buses so that they serve you longer.
4) Advertise Your Company: This is one of the most important way to drive customers to your business. Brand the buses you purchase with your company logo to stand out of the crowd, also the office space or bus park should have the logos or brand colors of the company. This will get customers trooping into the business.
5) Operations Cost: You will also need to make provisions for operation cost for this company, this cost incurred will take care of the daily running of the company and pay up salaries for the staff that you will employ to work for the company. 6) Need For Expansion: After you begin to get balanced in this business you can decide to get more fleets of buses or also get into other businesses that require the movement of goods like a Cargo service which will enable you move heavy and light goods to your clients destination. Secondly on this you can get partners who will help put funds together to grow the business on shares basis when that need arises.
With this points you can have an idea of what it takes to set up this business in a big way or you can add up to your knowledge by reading up more articles.