You're actually incredible for sharing about your journey so openly and not being stingy with information - your responses to comments? Love your vibes! Very interesting endeavor and seems like less of a headache than running the actual delivery part.
Thank you so much for watching my videos! I also appreciate it when people are willing to share information and also try to do the same when I have information
Please Kindly share the financial break down or maybe an example to give us a broader perspective of the costs involved including returns when starting such a business(it doesn't have to be your personal figures but a example) if possible Regards ❤️
Thank you so much for sharing your experience and being transparent, highly appreciated it. I'm about to venture into the same business now I know what to look out for. May I ask you please share the contract you had with your driver's or assist in where I can get it. 🤗
Hi thanks for the vid..im also in this business..but u shudnt be buying parts from dealers .your maintenance is going to be far to high..but u nailed it..the drivers can make or break u..very informative video
Good video to learn how to drive for Uber Eats, Doordash and other food delivery in South Africa , for new drivers to learn, drive and earn very good money. Thank you. Good luck with your youtube channel Brother. God bless you.👍✌️❤️🙏💕🙂
😃 The draft contract 👋 hi everyone, I got it, Milly emailed me. Thank you so much for sharing this valuable information. Two years ago I wanted to start this business but there wasn't much information out there & those who had, didn't want to share it. We grateful & appreciate you for all the videos & info that you share with us 🙏 May God bless you abundantly. Peace Love & Positive vibes to everyone ❤
Hi, I really liked your video sharing your experience in this business. I also want to get involved in this business I like it. Also, you scored yourself a fan❤💫😁
Hi Millie, I am currently doing research on the bike business. How did you go about setting up your contracts for the drivers and what are the lessons that you have learnt from running the business?
I am glad I found this video two years later. I am looking into the business of renting delivery bikes and I have a few questions for you: how much rental fee do you charge and what is the payment frequency? Is it weekly; biweekly perhaps? Which company installed tracking devices on your bikes? Lastly do you have a template for Nike rental agreement? Hope you can revert to me and answer my questions. Thanks for sharing such valuable information.
Thank you for the information you have just shared. I will send you an email tonight. I started the same business about 3 months ago, I want more guidance.
Hi, how much do you charge for rental per week? Where does the bike stay? Do they pick it up from you everyday or they keep it by their residence? Which costs do you bear and which costs do they bear? So do you only cover maintenance, tracker and insurance and they cover petrol and damages and their rental?
Heyy been binging your vids ...love the way you explain So can I ask if I start a motorbike rental business let's say Uber eats how will i be able to handle finances like giving the driver his salary and getting my profit and one more thing please share the draft of the contract please.
Loved your content....I learnt a lot as a taxi owner who wants to venture in this business, I wasn't aware that contracts must signed between me and the renter cuz in the taxi bizz, we sign nothing. Could you maybe assist ka draft ya contract plz ntokazi entle
Hey, glad tou enjoyed the video. I base the amount I charge per week on how much other bike owners in my area are charging. I try to charge a bit lower than them so that I have a competitive advantage and don't struggle with trying to get drivers for my bikes.
Hey there, hope you good thanks for the good video on this. I wanted to know if you must get insurance on the bikes? Or is it okay to just get trackers?
Hi Millie I saw your video and it inspired me to get into the business. Thanks for the great content. I sent you an email earlier today with just a few questions. Looking forward to hearing from you Thanks again!
@LetsTalkPersonalFinance Hey Milly, absolutely amazing content, I'm truly inspired. Would it be possible to share the draft of the contract you use. I've currently sent you a email
Interesting information shared there- just to ask how much is the payment made per week for 1 bike? Do you mind also sharing the template of the contract if it is not a lot to ask for?
Hey, the duration for my rent to buy contract is 1 year and 6 months. I didn't really do anything special to determine this term. I just ensured that the term was long enough to ensure that I get a good profit margin even if I encounter some unexpected expenses along the way
Hey, it depends on who you go to but I pay around R350 for servicing. So currently the drivers are responsible for the servicing and unfortunately they don't always service when they are supposed to
Hi, Thank you for watching my videos. I'm sure you'll be able to get into the business. If you have any questions you can email me at Letstalkpersonalfinance@gmail.com
Hi Dear. Uhm really What I would like to know are all the costs that You encountered, From Buying the bike, to How much it cost for the tracker. I’d also like to know how much Do you rent out each bike and the Frequency Of Those payments
Hey there Ive been researching this type of business and I have spoken to drivers as well and they have drivers for me. I would however like to know what is the step by step on how to get started, what do I need to do besides have the bike and all the things you covered in this video Do I contact Mr d and speak to them on anything? or paperwork to sign? Thank You
Once you have a bike and you have a driver then you are for the most part good to go! I just recommend the following: • Have a tracker installed on your bike (I am using Cartrack). • Try and get your bike insured (I am currently still looking for a good insurance company). • You will also need a contract that both you and your chosen driver will have to sign, make sure the driver understands all or the terms and conditions of the contract. • The drivers that I work with always have their own Mr D Food/ Takealot or Uber Eats accounts, so I don't have to get any of them.
So is there any good thing that came out of the rent to buy business of bikes. I would like to get into this industry as well but I would like to find out from you if it has been viable or if it is a viable business to venture into
Yes, some good things have come out of it but I think that I have learnt quite a lot from this business. I'll be releasing another video talking about this.
Hey, we made the decision to use a rent to buy business model for the following reasons: 1. We wanted to get the best and most responsible drivers for our bikes who will make an effort to take care of the bikes, so in a way, giving them (bike drivers) an opportunity to own the bike after sometime is an incentive to get them to be more careful with the bike. 2. To gain a competitive advantage over other businesses that are just renting out bikes. 3. The shelf life of delivery bikes (that are being used everyday) is not that long, it's about 2+ years (depending on how well you take care of the bike). We don't want the hassle of having to maintain, repair and service older bikes (it will probably be costly). 4. We just want to help out the drivers, if they can get to a point where they own their own bike don't have to pay a weekly fee to rent out one then that means all of the money they make will be theirs. Which is great!
Hi thank you for sharing this. Can I please get a draft of the driver contract of you don't mind? What would you say is a good number of bikes to start with too?
Hello, great and informative video. Although I see its an old one please help me as im only diving into this concept now. I have watched couple of your vids and but was interested in this specific one. I have sent you an email concerning this and please can I get an exampler contract that you made the driver sign.
Great video. Thank you for sharing your experience. I have just bought two bikes & would like assistance with drafting a rental agreement. Can you assist?
Thanks sis I want to buy a bike myself and rent it but can u pliz estimate for me how much can I get out of my bike a week? And how much is anew bike? Thanks
Hi, so for a brand new bike you would need anywhere between R17 000 and R20 000 depending on the accessories you decide to add to the bike and you can charge between R600 and R800 per week for renting out the bike
This video is so informative , thanks a million times....I so wish to buy a bike as well but I don't have enough money to, would it be wise to get a loan maybe?? And go for a second hand bike I don't know I'm clueless kindly assist🙏🙏
I personally don't use loans and think the entire business would be less stressful if you don't take out loans to buy the bikes. If you are considering getting a loan, you will have to do some calculations to figure out if you will make any profit. You will need to find out how much your loan repayment to the bank will be and ensure that it is far less than your expected income from your driver. Profit = (Monthly Income) - (Loan Repayment + Tracker + Insurance + Any other bike expenses you might have) You also need to have some money saved up so that you can afford to pay back the loan repayment in the event that you don't have a driver or your driver delays paying you
Hi my sister thank you so much for sharing this videos with us. I am working as a teacher and I also did a side hustle for mr d food, I would like to ask, let say I buy a bike, what is the procedure if you want to rent it to uber eats. Also can I register as many bike and find.my own drivers
Thank you for watching this video, to rent out your bike you can other get a driver who already had a profile on Mr D food who will then rent out the bike from you (this is what I do) or you could try and get your own profile created on Mr D Food and then get a driver to use that. I'm not too familiar with this process but it can either be a short or long process depending on where you are based in SA and whether or not Mr D Food needs more drivers in your area.
Hello how are you, just wanted to thank you for your insight as ii want to buy bikes and rent them out Wanted to find out from you how did you make your contract with the drivers
Hey, I'm great and how are you got? I got a draft from a lawyer that I then modified slightly so that it fits my needs. If you'd like a copy of the draft you can email me at letstalkpersonalfinance@gmail.com
@@LetsTalkPersonalFinance Thank you so much. When you draft a contract for the renter, is there any party maybe a legal party you involve and do you do repairs and services with fuel filling or the driver does all of that??
Hey, during the signing of the contract I just have a witness there and with regards to the repairs and fuel filling, the renter takes care of all of that.
Hey Milly, I've just sent you an email asking for a draft contract. Wanted to ask - did you get around to insuring yet? I feel like adding another r500+ a month for insurance eats in to the profit margin quite substantially, but then again - rather safe than sorry right?
I know that you can give someone your car to register under their profile on uber, that's what I do with my bikes. I'm honestly not too sure if one person can have multiple profiles with multiple bike on one platform
@@LetsTalkPersonalFinance Hi there, can you follow the driver in real time with Car Track and set a geofence with notifications if the driver leaves a predetermined area? And around how much is insurance on a R20 000 motorbike? Thanks for the great information!
@@nielsaayman yes you can, I'm I the same business and use cartrack. Last week Teo of my bikes were stolen and car track didn't recover them because the signal doesn't pick up when the bile isn't switched on, I'm researching better tracking options
So I charge R600 per week and I came up to that price by asking different drivers how much they are currently paying to rent out bikes from other people/ companies.
This business is like being in the taxi industry ....... I would have definitely vigorously massaged those two drivers you spoke about. 😂😂😂😂..... I'm joking
@@LetsTalkPersonalFinance I've contacted cartrack and was hooked up with a broker of their company. They have linked me with budget insurance that gave me a good deal for like R940 bucks to cover 2 bikes. What Cartrack suggested was have Budget cover 2 bikes and then take that premium to a other insurance company in order for me to have cover on my other 3 bikes.....if however they come in cheaper I can then move all my bikes under the new insurance given that the premium is cheaper.......let's see how I plays out.....I've also been advised that there is no point in adding extra cost with a tracker where the full comprehensive plan covers the bikes in the even of theft, damage, accidents etc.......that's all with budget contact person is Kitso. If you happen to make contact with him let him know that Michael Waites has referred you
Good day I recently watched your video and I'm in the process of buying a bike, could you please assist with how to draft the contract? Great information 👌 Thank you
Hey, I'm glad you found the video helpful. You can send me an email to letstalkpersonalfinance@gmail.com and I'll forward you a draft of the contract I use
Hi ma'am I've been looking for ways to make money while still studying ,and seeing your video really got me thinking of trying out the bike business,Please if u dont mind may I ask around about how much can I expect in rent for a new bike ,please just give me the approximate e.g 1500-2000/month...I would really appreciate that🙂
