We all aspire to have that side hustle like uber business that brings us cash even we are not there physically to monitor it. Having a taxi running by the side is one such great idea. With the popularity of online taxi services (uber business), it can be easy to sit at home or on your workstation and watch how your business is doing.
However, it’s not as lucrative as it sounds having uber bringing you that extra income that you yearn for. A former colleague where I worked had 3 taxis operating in Nairobi. I called him few weeks ago and he informed me that he sold all the three. I asked why and he said it’s not as lucrative as it used to be.
You should get into this kind of business only if you want to create a side business. Run it yourself and don’t incur loans for its sake. The business is still undergoing a cycle with abnormal profits. Its still not possible to guarantee specific incomes.
Let’s define uber business
Uber in Kenya means online taxi hailing services. It does necessarily mean uber the company. I’m in this business I know. Customers request using bolt or little cab or any other cab and immediately call their friends and tell them they are on the way. In an Uber.
Any hailing taxi service is called uber at least in Kenya. Its popular in Kenya capital Nairobi and there are three major players. Estonian owned Bolt formerly taxify, there is the American owned Uber and local one Little. They are all popular around Nairobi. That diminishes as you move across cities.
What should you do?
Start the business. Its good but do not expect it to be an instant cash cow. Income varies from time to time and is heavily dependent on how liquid riders are.
Drive yourself when your are free to do so. Employing drivers is so stressful because they won’t honour your agreement. Life is tough out here.
You cannot leave employment to drive a taxi. You will be doing disservice to your self and your family. Keep it a sidehustle or a hobby and thank me later.
Don’t get a car loan, then put the car on uber and expect it to repay itself. Get a car loan when you have a stable income that will service the loan otherwise your car will be auctioned and that’s a bad experience.