My wife and I started this business in April 2014, with the help of our close friends in Myanmar. We entered the market seeing a huge opportunity:
1) The only chance for us to enter into PUBLIC TRANSPORT sector, legally.
2) Motorcycles and bicycles are banned on the roads and sidewalks.
3) There is currently no proper public transport infrastructure at the moment.
So, with good faith, we bought 18 taxis.
Within 2 weeks, all were rented out.
The profit that was generated was used to buy additional fleet.
It has been 16 months passed, we now have 24 taxis without putting in any additional cash.
Our NET PROFIT per year calculated to be about SGD$46000.00 (After forex)
The profit will continue to grow exponentially, only if profit is re-invested.
Income is based on the taxi rentals, not the meter or revenue the drivers make. (Think ComfortDelgro leasing style)
We have close friends (Burmeses) there to operate our business, therefore we do not need to hands on.
This is our passive income. I can teach you how, so long as you follow the system that we created.
Our total asset value (fleet) is about SGD$320,000.00
We are looking at getting an upfront 7 years profit cash. Which tallies to be about SGD$320,000.00 too
We are willing to let go this business at SGD$640,000.00 including assets, licensing and company.
This is for real serious buyers!
The reason to sell is simple. We entered this business with the intention to make it profitable then sell. We have other businesses running at the moment. At the same time we want to cash out for other businesses.
Business have risks. We took calculated ones and let us help you assess yours:
1) Forex risks. Myanmar Kyat is very much tagged to USD. This is a double edge sword, may increase or decrease your profit.
2) Car thefts. Extremely unlikely. Why? When you know Burmeses well, teachings of Buddha will not allow such act.
3) Government changes. This is something that you have to look out for. At the moment the licenses are legal, but we do not know 10 years down the road what will happen to the new government laws.
Feel free to contact me. I can't write and explain everything here.
All the information in this listing has been provided by the business seller or representative. Our platfrom is not responsible for the accuracy of the information.