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🙇🏻‍♂️🙇🏻‍♂️🙇🏻‍♂️❤️❤️❤️❤️❤️

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?

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??

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👏🏾

I'm glad I was able to help

Thank you for subscribing!

Thank you for subscribing!

Thank you so much for watching the video, I'm glad you found it useful!

Yes

Can you help

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

Hey 👋, I'm really glad you found this video helpful!

Thank you so much for subscribing and watching my videos! It really means a lot

Thank you so much for subscribing!

Thank you so much for watching💕

Glad it was helpful!

Thank you for watching, you should definitely get into the business!

True

Hey, you can send me an email at letstalkpersonalfinance@gmail.com and I'll sent you a copy of the contract I use

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.

Thank you so much for the support!

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.

Hahahahaha, it definitely can get stressful if you are working with the wrong people

I'm glad I could help! Thank you for watching!

Thank you so much for watching. I saw and replied to your email.

Thank you so much for subscribing!

Thank you so much for the support!

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.

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 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.

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.

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, 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, 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

All of the insurance companies I have looked at are too expensive and have very high claims, I am still looking for a reasonable insurance company

I charge them R600/ week which amounts to R2400 per month

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.

You're welcome!

Can I please Get the draft Contract

Yes, you can email me at letstalkpersonalfinance@gmail.com

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

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.

Bidboys are popular

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

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

Hey, glad you liked the video! You can email me at letstalkpersonalfinance@gmail.com and I'll send you the draft contract.

Hey! 👋 currently for each bike I am receiving R2400 per month, which is around R600 per week

thank you

Hey, I am also currently using cartrack and I'm also looking for alternative companies

Hi, I used car track

@@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

@Dee Khonkhe I'm really sorry to hear that your bike got stolen.

Thank you and yes I can send you the contract. Just email me at letstalkpersonalfinance@gmail.com

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, so I charge them R600 a week which is R2400 per month. Any amount of money they make more than the R2400 they get to keep.

@@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.