Is Transportation business lucrative or too Risky?

[Adetayo100]

Lot of time and likely considerable expense goes into creating a thriving Transportation business just business of any magnitude. In fact, a lot of the success in the transportation industry comes from excellent, detailed planning and hard work as you take your plan from a concept to a reality.

 

[springtech]

I was discussing with a neigbour of mine and he was talking about his experience in transportation business, how He bought a truck gave it to someone to take care of and also make money. But the guy did dome underneath business which collapse the truck and he run. Till today He as been unable to arrest the guy.

But in his statement, he said if you see a very good person to Handover to its very lucrative because its essential (people can't do without)

My Question is How lucrative and how risky is Transportation business.

Transportation business of anykind is both risky just as with any other type of business and as well highly lucrative.
My dad did this business for a while and was able to amass wealth from it.

What is important is the management. And this involves having a good driver, putting a good and periodic maintenance culture in place and above all having a good understanding with the driver such that both of you will have a WIN WIN situation.

That's why most people prefer to have a hire purchase agreement with the driver such that he settles a given amount and after which he takes possession of the vehicle, this way, he sees himself as the potential owner of the vehicle hence he takes good care of the vehicle while at the same time meet up with his financial obligations.

 

[Lekan]

Transportation of goods is so risky because their are some goods That so risk to transport from one place to another but we did not have choices that we will not transport good before selling them even their is how you will not transfer good before bringing them to your warehouse

 

[Damscooguns73]

2Concerning if transportation is a good business or too risky. Well, it is a very lucrative business to venture into and can be risky too but which business doesn't come with a risk?. The individual needs to be ready to spend money becauseit is capital intensive, you have to make provision for cars and be ready to employ qualified drivers and other management staffs

 

[Seun4luv]

A lot of time and likely considerable expense goes into creating a thriving business of any magnitude. In fact, a lot of the success in the transportation industry comes from excellent, detailed planning and gold old-fashioned hard work as you take your plan from a concept to a reality.

 

[MarieArie]

The biggest asset your company has is your customer relationships. When we talk about losing customers, we are not talking about the risk of competition, which is always a given, but rather the risk that you either forget about some customers because you are not tracking them, or someone in your business decides they want to start their own – and takes a bunch of those relationships with them.

 

[Folaham]

Investment in Transport is actually lucrative if you can manage the issue of drivers excesses by investing in it.
To invest in transport, you need to look at ways of investing in technology (like tracking system). With this you can be able to monitor the movement and real time location of your assets.
Also, find a way to eliminate dead trips on return. make both trips (to and fro) productive. with this you can maximize your return.
With all above submission, we should not that transport business in a high risk investment where one can lose the value for the goods in transit (GIT) and the value of the asset should there be accident during the course of delivery of goods to customers. in some cases , court issue generate because of damages cause by vehicles during accident. some can be as back that fatal accident cases leading to hearings in court

 

[Klismannm12]

Transportation is a highly lucrative business but you should do it yourself,don't ever call on someone to help you with it but concentrate on doing it on your own,as doing it on your own gives room for rest of mind,soul and body

 

[Aniwhyte]

Transportation business is risky and at same time a very great investment, over here in Nigeria taxi drives makes far more than what some bankers, lawyers, doctors and business men make in a month, some keke riders makes roughly 5 to 6 thousand naira in a single day.

 

[Doradorwa]

Transportation businesses is lucrative when you have someone to monitor it when you're starting into my large scale. everything about this life risky and risk is something we must take time to time.... If you have someone to take care of the business and the business is registered with proper governmental agency then your lose will be minimal.

 

[Godleads1]

Any business that has to do with transportation is lucrative and also risky together. The transportation business is a high earning profiled job. But the business is very risky due to unfaithful drivers, extortion from the the police etc

 

[Milz]

Transportation business is quite lucrative. Now it depends on who's going to be on running the transport, will it be you or will you get someone else to do it for you? If you get a good person to run it, then you be raking in good income from it.

 

[Neeta313]

It is both lucrative and risky as well, the thought of drivers having sleepless nights just because they want to meet their target by going different rounds. It's risky because I know of some that had an accident and died on the spot. It is more of risky than lucrative.

 

[.V.]

Transportation business is very lucrative but it has a very high risk factor. Accidents happen a lot on the road and in the course of doing your business you may end up badliy injured or worse. I personally think transportation business is not worth the risk
[automerge]1612776149[/automerge]
Transportation business is very lucrative but it has a very high risk factor. Accidents happen a lot on the road and in the course of doing your business you may end up badliy injured or worse. I personally think transportation business is not worth the risk

 

[Oliver 20]

The Transportation business can be entirely productive, yet it is extraordinarily serious. Numerous carrier attempt to get into the business consistently and wind up falling flat. This result typically ends up peopling who are incredible drivers however are bad entrepreneurs. It is in reality a hazardous business yet the benefit is high and consistently transport of merchandise can happen.

 

[Richard92]

Transportation business is very lucrative but sometimes it is also very risky but as a business owner or professional who is going into a transport business must take extra precaution and care by checking his vehicles properly before they move out of the park with passengers and also check them when they are back from trips.

 

[Dubai]

I was discussing with a neigbour of mine and he was talking about his experience in transportation business, how He bought a truck gave it to someone to take care of and also make money. But the guy did dome underneath business which collapse the truck and he run. Till today He as been unable to arrest the guy.

But in his statement, he said if you see a very good person to Handover to its very lucrative because its essential (people can't do without)

My Question is How lucrative and how risky is Transportation business.

Every type of business comes with it's own risk. But this risk can be managed and reduced if the needful is done. And yes, transportation business is lucrative but you have to work hard to earn the profits. Do not say because is risky you wouldn't want to invest in it.

 

[tolutronics]

All business are not lucrative but all business are risky, as for the transportation business, it's both risky and lucrative. I don't own a transport business of my own, but I have many relatives that does that. Why it is lucrative is that everyday, someone somewhere will want to move from one place to another, so you will always see customers, it's risky in the sense that accident can happen anytime.

 

[Jimmie150]

Transport business has always been a very lucrative business for a very long time and it is still booming till date. Any one wanting to invest into it should seek proper guidance from those already in the business.

 

[Mechi]

The transportation industry is prey to both old and new risks. The more informed you are to the specific vulnerabilities, the more prepared you can be. Many factors play into increased risks including advanced technology, driver shortages, and even international trade disputes. Here are the greatest risks faced by the transportation industry today.