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
On the first bike the issue was leaving the maintenance and repairs to the driver. Hence it is necessary to bill drivers for maintenance and insurance for the bike to eliminate such issues. If a driver damages the bike you get it fixed and you send them the invoice and if they fail you raise a lawsuit against them. In that way you keep your drivers responsible and fair..
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 ❤️
😃 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 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?
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.👍✌️❤️🙏💕🙂
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, 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?
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.
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❤💫😁
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.
This business is like being in the taxi industry ....... I would have definitely vigorously massaged those two drivers you spoke about. 😂😂😂😂..... I'm joking
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?
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
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
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, 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!
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.
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 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
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.
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
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.
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 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🙂
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.
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?
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, I loved this video. Thank you. Do you know where I can get second hand big boy bikes? I'm looking to spend between R7k-R10k. Do you think that's possible?
Hey, I think it is possible to find second-hand big boy bikes for that price range, but unfortunately I'm not sure where. You'll have to ask around at different bike dealerships
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
hey thanks for such an informative video. I have a question. Somewhere in the comments you mentioned you rent the bike out enough to cater for what you spent when you bought it and profit. How long exactly do you rent the bike out for? Do you rent them out for the duration of the lifespan of the bike i.e. 2 years? As I'm thinking aren't the drivers frowning upon you for paying 600 a week for over 4- 5 months (which in total amounts to the cost of the bike) but obviously they still don't own the bike yet as you still need to profit from it? not sure if the above is making sense i was thinking out loud too.
I rent out the bikes for about 1 year and 6 months. And with regards to hiw the drivers feel about it, I cannot speak on their behalf. The fact that they do agree to the terms of the contract suggest that they are fine with the arrangement. It's the same reason why people take out loans to buy cars and houses. Yes, by taking out loans from the bank you end up paying around twice what you would have paid for the house or car if you had cash. In the same way the drivers that I work with can't afford to buy the bike for themselves cash, so they are willing to rent it out from me at the agreed price and for the agreed time.
Also the bikes I buy cost around R20 000, so it will take them at about 8- 9 months for the drivers to pay me what I initially invested into the bike. That is not including the costs for tracker that I pay for every month
@@LetsTalkPersonalFinance Thank you for answering my question makes perfect sense now. majority of people who are looking to rent out the bikes seems to be foreigners. How do you ensure that they're documents they provide are actually legit? that's if your renters are foreigners though. my biggest fear is getting a dishonest driver who'll remove the tracker and steal the bike (it's a trend that I see a lot of people complain about on an uber eats Facebook group)
@@Aya-d9j To be honest, I currently do not have a way of verifying driver's documents. The one thing that I always try to verify though is the drivers address and to get the details and possibly even meet their next of kin. Bikes getting stolen is indeed a real thing, at the moment I think the best way to guard against that is to get insurance, but I'm still looking for a good insurance company offering a good price.
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
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?
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
Could you walk through the process of getting the bike on mrd delivery/Uber eats platform. Maybe I'm oberthinking it, but this is what I'm stuck on haha. Would appreciate any help!
@@LetsTalkPersonalFinance thanks so much for your Answer. Do you know where I could possibly get a rental contract to have the driver sign. I've been looking everywhere but can't seem to find one that's specific to 'Uber eats'
Hi, I had my bike which I did not use that much, and I think of renting the bike.If I may ask you, how do you draft your contract and are there any steps you take before drafting your contract
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.
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
Period 🥺 she’s the best.
Thank you for that!
Hello my name is Solomon from Mozambique I'm traver pg
I think you’re the breakthrough I needed🙇🏻♂️🙇🏻♂️🙇🏻♂️❤️❤️❤️❤️❤️
I'm so glad I found you😊... I have been thinking about this business. I just subscribed to your channel, Here's to financial freedom 🎉🎉🎉
On the first bike the issue was leaving the maintenance and repairs to the driver. Hence it is necessary to bill drivers for maintenance and insurance for the bike to eliminate such issues. If a driver damages the bike you get it fixed and you send them the invoice and if they fail you raise a lawsuit against them. In that way you keep your drivers responsible and fair..
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 ❤️
😃 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 ❤
May I kindly request the draft contract
Hi ☺️ would you be so kind to share her email address? I will gladly appreciate it, thank you again
Kindly share the draft contract
Hey please send it to me too if you don't mind.
would you be willing to forward me this draft??
Great channel. Just what I was looking for. Are you still in the bike rental business. Can we talk? I'd like to start one this year - 2024
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?
Hi. Did she reply to you about the contract? May you please share it with me?
Hi, did you by any chance get the contract that you can share?
Finding this video 2 years later is such a win. Knowing what you know now, would you give it a shot again?
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
You are an absolute legend Millie🙌🏾🙌🏾🙌🏾🙌🏾
Thank you so much! It means a lot
@@LetsTalkPersonalFinance I sent you an email Millie. Please peruse it and get back to me when you get a chance👏🏾
You've gained my support, all the way.
Your videos are Much appreciated, stay blessed.
This was valuable information. I’m looking into renting out bike business so this helped a lot
I'm glad I was able to help
New subbie , I love how you simplify everything ❤️
Thank you for subscribing!
Wish I could meet you and talk over lunch. Seems like I could learn a lot from you.
Hey, firstly Thank you for the information...i have a question...Why rent to buy, why not just rent out?
Really insightful and educational👏
Thank you 🤗 🤗, i love how you break down ❤❤❤
I do this. She's spot on with everything. I advertise on Facebook market place tho
Can you help
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.👍✌️❤️🙏💕🙂
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. 🤗
Lol at the "domestic issues". Thank you for this video, my friend and I are considering this business.
Hey 👋, I'm really glad you found this video helpful!
Very clear and candid. I subscribed and I will be viewing your lessons Mam. Thanking you :)
Thank you for subscribing!
Very inciteful and informative. Thank you for sharing your story, apologies for the experience you went through humans are just weird.
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?
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.
Hey… Just came across your channel. This was insightful thank you for sharing.
Thank you so much for watching the video, I'm glad you found it useful!
This is very interesting... Always had such an idea but never really gave it much thought on how I could go about it.
Hi! You should definitely think about getting into the business in 2022
@@LetsTalkPersonalFinance I will look into.... I'm always at malls making small talks with these guys in parking lots I will approach one or two guys
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❤💫😁
Thank you for watching, you should definitely get into the business!
Thank you my sister for sharing your experience with us it's really helpful Our Almighty God blesses you
Am really imprest ,great advise.Which company is fitting your tracking devices?
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.
Just subscribed recently and binged all your videos 😁 love your content !
Thank you so much for subscribing and watching my videos! It really means a lot
Thanks my sister for sharing your business Journey with us it is really helpful Bless you.
Glad it was helpful!
This business is like being in the taxi industry ....... I would have definitely vigorously massaged those two drivers you spoke about. 😂😂😂😂..... I'm joking
Hahahahaha, it definitely can get stressful if you are working with the wrong people
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?
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, you can send me an email at letstalkpersonalfinance@gmail.com and I'll sent you a copy of the contract I use
So informative, thank you!
all the best :)
Thank you so much for watching💕
Thanks alot for the video am subscribing to your account been really wanting this information
Thank you so much for subscribing!
Very helpful, Thank you sister
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!
Hey, thank you for watching my videos. I think I've already responded to your email
@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
Thank you sharing great video definitely going to subscribe.
Do you need a lisence to buy a motprcycle, if you gonna rent it?
Yes
Thank you for this video, super informative. Liked and Subscribed.
Thank you so much for the support!
I need to listen to your instincts more & be assertive.
True
Fancy stuff that makes the bike run 😂, mechanics are prolly cracking up now.
Hi Millie, I love your content
Loved the video very informative. How do you determine how much the rent will be on the bikes?
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.
Hi. Thank you so much for the information. Why do you rent to buy. Why not just rent it out? Are you compelled by any law or something?
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!
Wow.. You really thought this through. Everything you said was helpful. Thank you very much.
Hi,
I am planning to buy and rent out a motorbike.
What is the minimum weekly payment ?
Good morning Milly, I hope you are well I sent you an email asking for the draft contract.
Thank you for sharing such valuable information.
Good day, loving your videos, quick question... as you've registered your bike under a/your company, do you pay taxes?
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.
Thank you so much for watching. I saw and replied to your email.
Thank you for this really insightful
New subbie! Love the content❤️
Thank you so much for subscribing!
Great stuff, where do you buy the bikes?
I like your videos and am already subscribed
Thank you so much for the support!
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 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
Please advise on how much do you rent out your motorbike for a week?, so I have a benchmark for the industry
hi, could you please send a template or example of contract between owner and renter?
Hello it very helpfully video i subscribe . How much do you make ? Im also looking forward to your part 2 video
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.
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
thank you for this information. 🙏🏼
So helpful video
I'm glad I could help! Thank you for watching!
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.
I like you content and I the fact that you share real experiences.
I wonder if you could help me set up a similar business?
Thanks
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 Milly can I also email you also ?I need help also.
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🙂
Hey! 👋 currently for each bike I am receiving R2400 per month, which is around R600 per week
thank you
Hello.
How did you go about drafting the agreement between you and the driver
Hi my sister I'm looking for a bike on a rent to own deal
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.
Hy Millie which bikes do you buy or recommend
Actually thinking of getting into this
Hey sis, hope you are well. Could you please help with the contact draft
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?
How much were the bikes?
Do i need a bike license to buy a bike??
❤good staff I just submitted
Good day, thank you again for the awesome video, what is the duration of your rent to own contract, how do one determine the duration.
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, I loved this video. Thank you. Do you know where I can get second hand big boy bikes? I'm looking to spend between R7k-R10k. Do you think that's possible?
Hey, I think it is possible to find second-hand big boy bikes for that price range, but unfortunately I'm not sure where. You'll have to ask around at different bike dealerships
Rather get them to work for you with takalot and Uber eats etc.
Hi,
I just re the rental draft contract,thanks very much you are a star❤️❤️
You're welcome!
Can I please Get the draft Contract
Yes, you can email me at letstalkpersonalfinance@gmail.com
No insurance for accidnetal damages for the bikes?
At least you got a loyal biker after what you been through.
Yes, I did but a lot has happened since then. I'll be making an update video on this business soon.
@@LetsTalkPersonalFinancewe are still waiting, please don’t leave out all prices this time
How much does a service cost ? How often do you service it ? With a bigboy the service intervals are 3000Km.
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
hey thanks for such an informative video. I have a question. Somewhere in the comments you mentioned you rent the bike out enough to cater for what you spent when you bought it and profit. How long exactly do you rent the bike out for? Do you rent them out for the duration of the lifespan of the bike i.e. 2 years? As I'm thinking aren't the drivers frowning upon you for paying 600 a week for over 4- 5 months (which in total amounts to the cost of the bike) but obviously they still don't own the bike yet as you still need to profit from it?
not sure if the above is making sense i was thinking out loud too.
I rent out the bikes for about 1 year and 6 months. And with regards to hiw the drivers feel about it, I cannot speak on their behalf. The fact that they do agree to the terms of the contract suggest that they are fine with the arrangement. It's the same reason why people take out loans to buy cars and houses. Yes, by taking out loans from the bank you end up paying around twice what you would have paid for the house or car if you had cash. In the same way the drivers that I work with can't afford to buy the bike for themselves cash, so they are willing to rent it out from me at the agreed price and for the agreed time.
Also the bikes I buy cost around R20 000, so it will take them at about 8- 9 months for the drivers to pay me what I initially invested into the bike. That is not including the costs for tracker that I pay for every month
@@LetsTalkPersonalFinance Thank you for answering my question makes perfect sense now. majority of people who are looking to rent out the bikes seems to be foreigners. How do you ensure that they're documents they provide are actually legit? that's if your renters are foreigners though. my biggest fear is getting a dishonest driver who'll remove the tracker and steal the bike (it's a trend that I see a lot of people complain about on an uber eats Facebook group)
@@LetsTalkPersonalFinance I really wish there was an association of some sort that existed for this kind of business.
@@Aya-d9j To be honest, I currently do not have a way of verifying driver's documents. The one thing that I always try to verify though is the drivers address and to get the details and possibly even meet their next of kin. Bikes getting stolen is indeed a real thing, at the moment I think the best way to guard against that is to get insurance, but I'm still looking for a good insurance company offering a good price.
Hi. Thank you for your video. What type of motorcycles did you end up buying for your business and how did you come to a decision? Thanks
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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?
Hi. Congratulations on your two bikes! You can email me at letstalkpersonalfinance@gmail.com and I'll email you the draft
@@LetsTalkPersonalFinance Thank you so much
How much do you rent out your bike for? Per month.
@@LetsTalkPersonalFinance please also share me one.
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
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?
Your insurance is too high mam
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
And is the business profitable to go into
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
From my experience so far, yes it is profitable. It also comes with some challenges though
Hy sisi do you still doing the rent to buy service
How much did you rent out your bike?
Did you made cash on this business coz im trying to jump into this business. And are u still on the business?
Could you walk through the process of getting the bike on mrd delivery/Uber eats platform. Maybe I'm oberthinking it, but this is what I'm stuck on haha.
Would appreciate any help!
Hey, you mean like in a video? If you want to sign up you can just go onto the Uber eats app, => Account => Deliver with Uber
@@LetsTalkPersonalFinance I meant more for if you are a owner and you want to rent out your bikes to drivers...
Hey, so I am just renting out the bike. It is the renters responsibility to get their own Uber Eats or Mr D Food account
@@LetsTalkPersonalFinance thanks so much for your Answer. Do you know where I could possibly get a rental contract to have the driver sign.
I've been looking everywhere but can't seem to find one that's specific to 'Uber eats'
I actually had to get a lawyer to draft up a contract for me and that'd the one I'm using.
Hello how to register ?
Hello There,so do you insure the bikes if so it's how much per bike,
So currently, none of the bikes are insured. It's been hard getting an insurance company that is willing to insure bikes that are being rented out.
Hi, I had my bike which I did not use that much, and I think of renting the bike.If I may ask you, how do you draft your contract and are there any steps you take before drafting your contract
Hey, you can send me an email, letstalkpersonalfinance@gmail.com, and I'll send you the draft contract that I use
Hi, I'm thinking of getting into this business, can I also get tips on how to draft a contract.
@@LetsTalkPersonalFinance Hi, i tried sending an email to this address it just says address not found :(
Hey, can you just check the email that you typed in? letstalkpersonalfinance@gmail.com should work
Good video 👏 is it possible to email the contract between driver and the person renting... want to do the same
Thank you and yes I can send you the contract. Just email me at letstalkpersonalfinance@gmail.com
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.