Is hire purchase business lucrative?

[Augusta]

This is a lucrative business; you can start if you have the needed capital. The good thing about this business is that you can do other businesses by the side. All you need to do with this business is to buy the item for the hire purchase, look for a good person to use it and you add your interest to the capital and let the hirer pay you instalmentally. This is like making your money worked for you.

You can look around and buy what people would love to hire for maybe personal or commercial use. Buy and give it out for a profit.

 

[Ralphjoe]

Of course, Hire purchase business is a very lucrative business saying that you will give out something of yours for hire in which you will be paid instalmentally over a course of period of time. This business does not require you to do anything stressful as all you have to do is to give out an item of yours on hire purchase, then the hirer will be paying you your money after you have added your profit price. This is a business that I might delve into with time.

 

[Maks25]

You are free to agree and disagree with me but here in my area, it is very lucrative and like every other business, risk is involve.
I recently bought a fairly used bike for 60k. I gave it to a rider after with a proper documented agreement between both parties with a verifiable guarantor for 105k. He has pays on weekly basis 7k and this will continue till he balance up and the bike becomes his.
That means in 15weeks (less than 4months) I will make 45k from my 60k investment. Is it not lucrative.
Presses calculator

15 weeks = 4 months

#45k divided by 4 = #11k monthly

#11k divided by 30 days = N366 daily .

Pure water hawker is better than

 

[Mataracy]

Hire purchase business is good if your business is well manage.
When you want to start the business make sure your business is well dicumrnted. Anybody that want take up hire should have surety that will stand as a guarantor.
There must be a concrete agreement between both.
The passport of the person must be part of requirement should in case of any default.