How To Start A Boda Boda Business In Uganda 2020
You can easily start a boda boda business once you are ready to buy one, or get a boda-loan from any of the different providers. Being one of the lucrative ventures in Uganda, you are ready to start profiting right from day one of entering the boda industry. If you were wondering how you can get started with this risky but lucrative business, read on.
The boda riding business in Uganda has been ongoing since many years back, and currently, an activity which people of all ages are attracted to. By riding and earning, anyone who knows how to ride a motorcycle more especially around town can simply join and start making money.
The availability of boda jobs, motorcycle riders and clients or customers have called for the different companies to emerge in order to also benefit from this business. Companies like Boda Boda Banja, SafeBoda, Tugende and etc do offer loans to interested parties who wish to start this business. Others are there to train riders on stardard riding procedures which aim at protecting both the clients and riders while at the same time earning.
If you want to start a boda boda business in Uganda, below are the 3 ways you can do it depending on your financial status..
#1. Buy a boda
If you have your own starter capital, the bnest way to join this business would be buying your own and starting to ride. Riding your own motor bike means being a boss of your own who is answerable to yourself. And if you got lots of cash, you can even buy many bikes and either loan them to others in need or even give them out for daily payment. Several places exisit where you can buy bikes from including the famous Ndeeba town eg TVS center.
#2. Get a boda loan
The likes of Tugende, Opportunity bank, SafeBoda, Mamidecot, Banja ltd and etc companies are well known for loaning out motorcycle taxis to interested individuals. With each of the above having their own terms of payment and qualifications, it is more easy to join this business without using your own capital. It all begins by visiting your choice’s office to get started.
#3. Rider for someone else
If you can’t buy your own, or even secure a banja, the better alternative is to ride for some one else. In fact, this is the common way which many riders have used to join the business. As opposed to where you have to finance your loan weekly or as agreed, here you pay to the owners per day or weekly basis. The many riders ytou see around are riding for others but in the same business.
If you didn’t know, motorcycle riders never fail to meet their needs. They make some good cash off this venture and are able not to only to support their families, but also, pay landlors fior those who rent and even expand their businesses. If you are in Kampala and other big cities like Masaka, Jinja, Mbarara, Mubende, Mityana, Hoima, etc, try and join, you will narrate to me later.