And another one bites the dust....

[Terpe]

We bought a new tricycle for one of my bro-in-laws a fews years ago.
The idea was to help put food on the table for the family and keep him busy.

I showed him exactly how he should run the business but he never really learned that his gross income isn't the same as gross profit so was always looking for help to run the business. Stuff like maintenance, repairs tyres petrol etc needs to come out of his gross income before he can spend it.

For sure I don't know all that went on, but it really seems to me that being a tricycle owner/driver just doesn't generate enough Peso's for a family to live unless the maintenance and repairs are done 'inhouse'. Means he has to learn how to do that for himself.

Anyway it seems he's off the road more than on and has decided he needs a complete new rig.

I've told him to spruce up his old one, sell it and buy another one out of the proceeds as I can't buy him another one, new or otherwise.

Just what he'll do with the money I've no idea. He seems to think that renting a videoke is a better business.

He's not a bad bloke and it's sad that he can't manage his own business. But I have to say no more from my side.

Another bro-in-law recently sold the fishing boat we bought him for similar reasons.
He just couldn't manage his business and would spend all his generated income. Even to the extent of selling all his fish and not keeping any for the family table.
If you going into the fishing business future planning is even more important due to unforseen weather interruptions.

Maybe the title should read "Another two bite the dust"

[Terpe]

.....it really seems to me that being a tricycle owner/driver just doesn't generate enough Peso's for a family to live unless the maintenance and repairs are done 'inhouse'. Means he has to learn how to do that for himself.


I'm thinking it must be the same for owner/drivers of jeepneys too.

Remind me to never consider that as a business opportunity.

[fred]

The businesses you mentioned are extremely tough for a number of reasons..
My Mrs sister`s husband borrowed the deposit for a brand new Toyota Hiace about 3 years ago..(200K from another family member in the U.S)
He drives it from Dasma - Batangas full of passengers each day.
He pays the loan back monthly and the van repayment over 5 years.. He makes about 15k a month but when the van becomes totally his his income will increase to 40K plus per month..
I think then he will trade it in for a brand new one.. As vehicles hold their value well here,its a very good strategy IMO.

[raynaputi]

My uncle in Qatar also had a tricycle that he lets one of the relatives to run in Laguna. It was doing fine for a few weeks. The earnings go straight to my grandma and of course the relative gets his everyday cut. But eventually my grandma was kept on being asked for fixing broken parts all the time. So my mum and uncle decided to sell it in the end. They thought it was something that can make some few bucks for my grandma but it went the other way around! My grandma now rents out 2 videoke machines. I'm not sure how good it is business wise but the family uses it as well anyway.

[stevewool]

I understand all you are saying Peter,
Ems dad owns a tricycle and it pays him well, he can work when he wants too.
There has been many time i have seen him with his hands so dirty doing maintenance on his bike, i will ask why dont you buy the new part even giving the money for it too, but the answer is always no, i have a spare day today and i can fix it myself,

[grahamw48]

Mercedes and her family know that I am a pauper.

I am quite willing to help fix her brother's trike any time though, providing I have the tools and he can supply the parts. :xxgrinning--00xx3:

[Harry T]

I think many filipinos are very hardworking, but some of them just dont seem to have the business acumen thats needed, as you say Gross Income and Profit are 2 entirely different things, and its of no help when other family members think just because you have your own business you are rich. :Brick:

[Michael Parnham]

I think many filipinos are very hardworking, but some of them just dont seem to have the business acumen thats needed, as you say Gross Income and Profit are 2 entirely different things, and its of no help when other family members think just because you have your own business you are rich. :Brick:

Most vehicles are bodged up forever, they don't understand what preventive maintenance is :Erm:

[stevewool]

i think it all depends on that persons out look it can take a very long time to make any sort off profit, and some just cannot wait that long too, spend today tomorrow will take care of its self sort of thing,
Even here you see lots of people doing this,

[Michael Parnham]

i think it all depends on that persons out look it can take a very long time to make any sort off profit, and some just cannot wait that long too, spend today tomorrow will take care of its self sort of thing,
Even here you see lots of people doing this,

I see your point Steve, in fact after talking to a few Pedicab (tricycle) drivers in Dumaguete I found the younger drivers who had bought new Motor bikes did have them serviced frequently at the dealers who supplied them also they were very proud to own a new bike and kept them in pristine condition :xxgrinning--00xx3:

[fred]

The only way to understand what its like to have a self driven tricycle business is to buy one and drive it yourself for a year.. Do all the maintenance, pay all the tax and insurance etc, feed and house yourself and make a you tube video of your daily experiences for us all to see..I wish you success.
Don't judge somebody until you have walked for a year or two in their shoes is my thinking!

[grahamw48]

Very fair comment that, Fred. :xxgrinning--00xx3: