When we look at the transport industry in Ghana, there is this general perception of how risky this industry is. Not one, not two but a lot of people have tried and most have been unsuccessful. So there is this thing in the market or a general fear in the market that when you pursue or when you try to build a business in the transport industry, if you're not careful, you risk losing all your investment.
Now this is not surprising because there has been statement in the market that investment in cars are mostly not seen as asset, but more or less anything that can easily go away. So there is this market or general market perception that it is better to go into real estate or probably use your money to build houses or something, just to avoid a high risk of trading in the transport industry.
Nonetheless, a lot of people have been successful and I've actually been able to generate good amount of income from the transport industry. This fear mostly comes from the fact that the drivers may actually betray you. Fear coming from accident as well as fear of vehicle breaking down unnecessarily and actually locking your funds or your investment in the car. There is also the fear of vehicle getting stolen and never being recovered. One is at risk because once the car is parked out there and not moving, your money is stuck. So there is this general fear out there that if you're not careful, or better still, it's better to keep your money in in your pocket or think of any other investment other than this transport thing.
Now this fear has actually kept a lot of people out of the transport industry without even trying and the few that I've gone in will also confirm that I did transport business and the drivers messed me up, I did transport and this happened.
Yeah, there is some element of truth in there, but from where I sit right now I'm able to tell you clearly from my experience some of the things you can do to be able to overcome most of the challenges to be able to be successful in the industry.
In my other post, I will be looking at the right management attitude to maintain in the industry, the kind of strategies to employ and the kind of vehicles (very important) to work with, the knowledge and understanding you need to have about the vehicles you will be dealing with just to be able to overcome some of these things.
So this fear in the market is something I will be addressing as we move on to the next post, to be able to build people's confident confidence, to be able to trade or venture into this industry and become successful.
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