Mini Vlog | Buying a Motorbike | South African YouTuber

[@mpumeleloshongwe5413]

Hi Millie, I've recently thought of the idea of renting out motorbikes. I came across your channel while trying to research more about it. I just want to show gratitude for your content. It is really helpful and gives one a sense of direction. I was reading through the comments to get answers for some of the questions I have and I am stunned to see you answer each question honestly, you even answered similar questions (didn't mind sharing what you already have shared). Your content and humility is greatly appreciated. Lols ill definetly be asking something soon *hides*

[@LetsTalkPersonalFinance]

Hey! 👋 Thank you so much for your kind words. I really appreciate it. I'm glad you found the video helpful

[@samletsatsi8811]

Hi. Great video. Mind sharing the contract template you use with your drivers. Thanks

[@khensanimaswanganye1480]

Hi Millie, your content is so amazing and informative. I've sent an email to ask for a contract draft as I will definitely be venturing into this business as an unemployed graduate.

[@joshmyburgh]

Would love an update video now that you have been in this business for a few years ? if you are still doing it ?

[@siphokazi.mmaphanga6242]

Yeah! That would be great😊

[@MrLebohangk]

Hi great content you sharing , why did u register your bike under a company?

[@mafamoses2413]

Hey I'm happy to find your channel you truly helping.

[@LetsTalkPersonalFinance]

Hey, I'm glad I could help. Thank you for watching!

[@orgrasiakodisang323]

Hey can you please update us about the progress of your delivery business I'd like to get into it and would like to get some pointers from someone who's already in that industry

[@Nomvula26]

Thanks so much Millie 🙏🏿 I would like to see more content like this (motorbike rental business) if I may ask what are the advantages and disadvantages of registering the bikes under your name?

[@LetsTalkPersonalFinance]

Thank you so much for watching, I'm glad you are enjoying the videos. If the bike is in your name the income you make will be taxed according to your tax bracket and you will get taxed before you pay for expenses. On the other hand, if the bike is under a company, you are only required to pay tax on the profit that you have made. Also the flat rate for corporate tax in South Africa is 28%, which might be less than you personal tax bracket, depending on how much you earn in a year.

[@Nomvula26]

@@LetsTalkPersonalFinance oh makes perfect sense, thanks so much

[@amompyatona8754]

Hi idk if i misswd this part. But where is this bike store and are they new or pre-used? How do you determine the renting price? And how do you determine that a person is fit to meet their rental obligation

[@the_EBB]

the bike place is called, Ultimate Bikes (UB) in Randburg, Jhb....unsure about the other questions

[@Pieterseboy]

Question can you show us how your contract works and do you sort out their maintenance and your financial break down, thanx.

[@bradleythirumurthi]

All the best!

[@megamongivlogs8247]

Good day , I wanted to ask how hard it was to get a motorcycle license. Learners that is, thank you

[@lungilemkhize1597]

I came across one of your videos about renting out bikes and just started going through your channel and I must say that you’re forcing me to adult 😅 I highly appreciate your videos and I’ll definitely will be here with questions soon.

[@lesedimadiseng881]

Hii, hope you good? I wish to know more about this kind of business. So let's say I have already done everything ( bought the bike already found a driver) my issue is on the income ? How much do you pay the driver? And how much does the driver pay you daily, weekly or monthly??

[@LetsTalkPersonalFinance]

Hi 👋 So I ask the driver to pay me R600 every week for renting out the bike. Any amount of money they make over that R600 belongs to them and is therefore their payment.

[@salomemotswalo2389]

Hi Millie thank you for this video what's the name of the shop you bought the motor bike from

[@hlonitalks]

Thank you so much for giving us some education regarding this motorbike delivery business. Highly appreciate it.

[@LetsTalkPersonalFinance]

You're welcome! Thank you for watching my videos

[@mikegalela1815]

Hi Millie, when you say you registered the bike under a company do you mean younde property trust or business/company.

[@LetsTalkMoney-qk2ps]

How much is insurance

[@modikiramaisa4619]

How many bikes do you have in total ?

[@siphiwembatha9029]

Hi Millie ow wow i just had started thinking about this business few days ago and you've been so much helpful. I also just wanted to know a few things, in the research i have conducted i found out that after registering on Uber eats it can take time like a month or two or even more to get you started and also found out that there's another company you can register under and they can get you working within a month but there is a certain percentage required in you profits. So i wanted to know which on is better and more profitable as i wanted to obtain a loan to buy my first motorbike?

[@LetsTalkPersonalFinance]

Hey, you technically don't need to register on Uber eats yourself, UNLESS if you are going to be using the bike. It is possible to find drivers who already have their own account and just need to rent out a bike. You should just look for drivers that already have their own uber eats account

[@siphiwembatha9029]

@@LetsTalkPersonalFinance Alright which is the best possible way to get good profits and actually be able to pay off my loan since I've mentioned that i wanted to take a loan to purchase the motorbike

[@LetsTalkPersonalFinance]

Profit = Income - Expenses So you need to make sure that the amount of rental income you will be getting every month is enough to cover all of your bike expenses (the loan installment, the tracker and/or insurance premium). To try and maximise your profit, you can try to shop around to ensure that you get the lowest prices for your tracker and also try to get the best interest rate on the bike loan. You will also need to ensure that the repayment term of the loan is not too long because bikes typically have a life span of about 2 years (it could be longer if the bike is being taken care of)

[@mfundohg958]

Great content. May you please do a video about this, expenses and how much you make as profit.

[@LetsTalkPersonalFinance]

Thank you for this video suggestion

[@mbalenhleradebe7601]

Hi Millie Which insurance company do you use for the bikes?

[@Dastinm_1]

How much Canadian dollar can buy a bike in South Africa

[@mohalet.b4766]

I have been missing out. I have a question, Is it possible to purchase an asset (Money generating) using your own personal money but register the asset under a company. More like buy for an example a motorbike for a company with your own money?

[@LetsTalkPersonalFinance]

Hey, yes it is possible that is what I did. All of my bikes are registered under a company

[@minni_deswagger]

Hey there. Thank you so much for this video , the comment section has been very educational. I’m looking to get into this business in the coming week or two , been saving for a few months so I could instantly start off with two bike’s instead of one. May I email you get a look at the contract you’ve drafted for your drivers ? TIA

[@LetsTalkPersonalFinance]

Hey, thank you for watching the video. Yes you can email me at [e-mail]

[@hlophesizwe9592]

Hei, So if you keep adding some bikes/vehicles on your Car Tracker company does the money that you pay monthly also increase?

[@LetsTalkPersonalFinance]

Yes, they charge for each tracker that they fit into each of your bikes.

[@ndumisondu2298]

Hey Girl. I hope you’re good. So let’s say you’ve already bought the bike and it’s already registered. What do you do next? Okay you need to find the driver. So you just give him the bike? Like you don’t register the bike under Uber eats or Mr D?

[@LetsTalkPersonalFinance]

Hey, so before giving a driver any of my bikes I install a tracker, so that I know where each of my bikes is at any time. The drivers I work with usually already have account with either Uber Eats or Mr D

[@ntsakomaluleka7886]

Hi. Is big boy a good brand? I’m looking to start this business this year

[@johnsmith-kc1sn]

Not really. They're cheap Chinese bikes rebranded for SA. Probably the most reliable small bikes you'll get here is Honda Ace 125. Apparently SYM brand (also Chinese) is better than BigBoy

[@mamoisemabuza436]

Hey which model do you get?

[@LetsTalkPersonalFinance]

Hey, I always buy the big boy velocity 150

[@thabisokamela6193]

Do you need a bike license to buy one cause am also interested venturing into this business but i don't have a bike license.

[@khuthidagumi]

No

[@desintuli7071]

Hi do you pay any fee at thr licensing department?

[@nkosiuj5701]

Hey, would you advise someone to still get into the bike rent-to-buy business? Is there still a demand for it?

[@LetsTalkPersonalFinance]

I haven't been renting out my bikes in the last few months so I'm not 100% certain how things are working right now. I am planning on getting my bikes back on the road this month though so I'll let you know how things are going once I've done that.

[@lungilemkhize1597]

@@LetsTalkPersonalFinance Hi… I just wanted to check if you ended up putting your bikes back on the road and how it’s currently going

[@wandilenene3279]

?

[@tebatsolephalala8416]

Hi Millie, If I rent my bike to someone. Is it my responsibility to find a storage/parking space? If it's mine, where can I find a parking space?

[@LetsTalkPersonalFinance]

It depends on the agreement that you have with the driver, currently all of my drivers keep the bikes with them overnight but this is quite risky as the bikes might get stolen. I’m also not 100% sure where you can find parking space for your bike.

[@tebatsolephalala8416]

Thank you very much.🙏

[@cristianolifestyle4752]

What is this place called where you bought the bike

[@mthokozisilehlogonolo7217]

Theirs a place in Pretoria which is cheaper than Randburg

[@Thatssokukie]

Hey Millie can you kindly share the contract or template

[@str8xrippin]

Not to discourage you or anything but being a biker myself I would never rent out a bike, that's all I'm going to say. Good luck on your business

[@LetsTalkPersonalFinance]

Thank you for watching!

[@pheaganemokoena]

Why not @STR8xRIPPIN?

[@mabunda5726]

Hi MIllie, could I please ask regarding the contract you mention in one of your videos? Could I reach out for that?

[@lloydmadisha807]

How did you go about drafting a contract signed by your drivers?

[@LetsTalkPersonalFinance]

I got a lawyer to draft it for me, you can email me at [e-mail] and I'll send you the draft contract

[@tshepisoav]

Hi.. Can you please share the contract if u still have it. I tried emailing her. I think she didn't see my email

[@tebatsolephalala8416]

Hi Millie, How can I get a motorbike license and how much does it cost?

[@LetsTalkPersonalFinance]

Hey, you can go to a Licensing Department in your area, (the same place where people go to get their car license) and when you register a new bike you will also get a vehicle license (it is one process) and it costs R480

[@tebatsolephalala8416]

Thank you so much

[@nhlanhlenimgobhozi]

Hi Millie please help me with an example of a contract for renting out a bike. I sent you an email but maybe you didn’t see. Please help me

[@Mbilithuthagwala]

Do you have an insurance cover for that motorcycle?

[@LetsTalkPersonalFinance]

Not yet, I am still looking for a reasonable insurance premium

[@Shane_101]

So milli, what happens when the contract is duration is done.

[@LetsTalkPersonalFinance]

When the contract duration is done, the driver will officially own the bike, but so far now of the drivers I've worked with have actually completed the contract.

[@Shane_101]

@@LetsTalkPersonalFinance alright and what about your tracker?

[@mpolelochantelletsoela231]

@@LetsTalkPersonalFinance Hello, thanks for the information. Usually, how long is your contract duration?

[@LetsTalkPersonalFinance]

It's usually 1 year and 6 months

[@LetsTalkPersonalFinance]

I haven't gotten to that point yet but I plan on asking the tracking company to install that tracker on another bike.

[@mondentuli3983]

Hi do u mind sharing how much a new bike costs ...as well as rental fee from your tenants?

[@LetsTalkPersonalFinance]

Hey, a new bike + a bracket and a delivery box + registration is around R18 500, it could be more or less depending on the accessories that you choose to have. I charge R600 as a rental fee for each bike

[@mphomollo2308]

@@LetsTalkPersonalFinance Thank you for sharing your journey with us, Is this R600 per month?

[@LetsTalkPersonalFinance]

No, it's R600 per week, which will be R2400 per month

[@thutoradikeledi7697]

@@LetsTalkPersonalFinance so if you get R2400 per month how much do you pay for the bike per month? Or you buy it cash?

[@LetsTalkPersonalFinance]

Yeah, I buy all the bikes cash

[@krazzyvibestv8657]

Can I please ask the location of the place to buy the bike

[@LetsTalkPersonalFinance]

I buy my bikes from Ultimate Bikes in Randburg, you can Google it to find the address. They only sell big boys there.

[@Maishibe]

Are you responsible for servicing the bike or does the rentee take care of that ?

[@LetsTalkPersonalFinance]

The renter services the bike

[@sisekom.6538]

Yes, after how many Km's is the bike supposed to be serviced👏?

[@foodparadise6116]

Let's Talk Personal Finance, if you get R600 from your driver per week. Do you get paid for renting out your bike from the company you renting it too?

[@LetsTalkPersonalFinance]

The driver pays me R600 per week and they get the money directly from the company (e.g Mr D Food, Uber Eats) they are delivering for. I don't get anything from the company. I hope that answers your question

[@musamashinini9514]

@@LetsTalkPersonalFinance is the 600 amount the renting fee or it depends if they delivering for both Uber eats and mr d ?

[@LetsTalkPersonalFinance]

It is the renting fee, they just pay me R600 per week, even if they are delivering for different companies (Mr D Food, Uber Eats, Checkers60)

[@nomhleramakhula9391]

How much was the bike?

[@LetsTalkPersonalFinance]

Hi, everything for the bike was just under R19 000

[@DefasqueiaMassimbe]

Hie boss I need bmw bike

[@bonolomenu4926]

Hi Millie really appreciate your content 🫶🏾. Could you kindly help me with the contract. I’m already bought the bike and now I have a driver who’s interested but I just need to draw up a contract before he starts. I have no idea where to start.

[@LetsTalkPersonalFinance]

Hi, thank you for watching my videos! You can email me at [e-mail] and I'll send you the contract that I use.

[@Thatssokukie]

Hey Bonolo have you started with your bike business

[@olethabethe4538]

Hey Milly .... thanks for sharing ... what's the name of the bike shop ? And what is the price range for motorbikes isuitable for deliveries in that shop?

[@LetsTalkPersonalFinance]

Hi, the name of the bike shop I use is Ultimate Bike, it's located in Randburg. I think I actually buy the cheapest bikes they have there and those are about R19 000 including the bracket and delivery box. There have other more expensive bikes there including some luxury motorbikes that people buy for personal use. I hope my answer helps

[@trigxionworld9628]

Hello, do you have to register it under your municipality or anywhere ? Or municipality where you bought it ?

[@LetsTalkPersonalFinance]

No, you just have to register it at any licencing department in your area, once you have done that you should be fine

[@franceteboho6002]

Do you insure your Bikes?

[@LetsTalkPersonalFinance]

Hi, I am still looking into getting insurance for my bikes, so currently my bikes are not insured

[@andilekhala5815]

Hi Millie. Is there any way I can try contact you maybe email or Instagram dm? I have some few questions about this scooter rental business 🥺🙏🏾

[@LetsTalkPersonalFinance]

Hey! Yes, you can email me at [e-mail]