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Review of The Income Analysis
Invest in Trucking

A dump truck is expected to go at least a trip(traffic) of dispatching Granite to Lagos from Ibadan, Abeokuta or from Ijebu, basically due to road work going on Lagos - Ibadan expressway.

Cost of Truck
Used =N14,000,000
New = N27,000,000

Insurance Comprehensive plan is 5-6% per annum

Hence:
*For Used @average of 5.5% = N770,000 + N14,000,000=N14,770,000

*For New @average of 5.5% = N1,485,000 + N27,000,000 =N28,485,000

Per trip for Used Truck, the truck is paid between N60,000 – N80,000

Running cost per trip is around N20,000 - N35,000(include Driver's wages & Daily Ticketing)

Projected profit per trip in average= N50,000

N50,000 per trip x 6trips per week N300,000 per week

N300,000 x 4 weeks = N1,200,000 per month
This is monthly income within Abeokuta - Lagos

Yearly income = N1,200,000 x12= N14,400,000

Less 35%
Depreciation/Maintenance = N5,040,000

Annual Net Income=N14,400,000 - N5,040,000 =N9,360,000

Input in same in New trucks, the only difference is 15% Depreciation/Maintenance.

it is expected that profit target for used truck after 2years while new is 3years. The maintenance culture will increse by 10% after this years.

For more information contact us
+2348055545355, +2348032887233
https://www.nairaland.com/1226046/make-n200000plus-week-haulage-garnite/2

Such a nice thread, unfortunately it's been long it has last received comments.

I will be dropping some info as times go on to resuscitate the thread.

The OP has done a nice job.
People need to see this more often for them to tap into the bountiful opportunity in the business.

Haulage, Heavy equipment Hailing and Hiring are such a good business for anyone who is intending to do it.

Go over this thread to read the various categories you can function.