KNOW HOW TO INVEST IN BODABODA BUSINESS

A new Motorcycle costs sh 4,525,000 at Verma as of today October, 2020.

One of the practical methods of investing and profit from this business is to buy new Motocycles and Loan them out to interested riders at higher prices.

There are mainly 2 modes an investor can redeem his/her money from BodaBoda loans.

1. One year Payment Mode:

Under this method, a rider pays the investor sh 1M instant cash as security then sh 107,000 weekly.

One year consists of 52 weeks. This means the investor will be paid sh 6,564,000 (i.e sh 107,000 × 52 weeks in 1 year + 1M security) and he surrenders a card to the rider.

This therefore calls for a profit of sh 2,039,000 (45%) per sh 4,525,000 invested annually. If you invest in 5 Motocycles, you will earn sh 10,195,000 annually with capital investiment of sh 22,625,000.

2. Two years Payment Mode:

When you buy a new BodaBoda and Loan it out, the rider pay 1 Million instant cash as security, then sh 78,000 weekly if he’s to complete the loan in 2 years.

A year has 52 weeks. 52 weeks × 2 makes 104 weeks, which is equivalent to 2 years.

Now 104 weeks (2 years) × sh 78,000 weekly gives the boss/investor sh 8,112,000.

If you add 1,000,000 security, the rider ends up paying sh 9,112,0000 in 2 years just on a BodaBoda that the investor bought at 4.52M.

This gives the investor a profit of sh 4,587,000 (101.4% profit) per sh 4,525,000 invested in two years

Even when the rider escapes with your bike after one year, you have already recovered your capital i.e sh 4,056,000 + 1,000,000 security deposit which equates to sh 5,056,000

NOTE:

Interested borrowers (riders) must submit their particulars including;

National ID Photocopy.

Letter from Chairman of the Stage.

Atleast two guarantors.

Letter from LC1 of residence.

Atleast 1Million initial deposit.

Risks involved

A rider may change Spare parts of your new Motocycle and he pretends to fail payments.

A rider may deal with thieves and intentionally steal/hide your Motocycle.

Riders tend to go in far places which limits inspection of the Motocycle etc…

How to minimize risks

Install tracking devices to help you in case of theft.

A person who qualifies for this loan must have a permit with enough experience in riding.

This Motocycle must work strictly during day time, and parked at night.

If possible, deal with people who have less responsibility like bachelors.

People who drink, smoke weed, and other related characters shouldn’t qualify.