James is an entrepreneur who quit his well-paying banking job to start boda boda business. He now earns Ksh 300,000 per month from the business. This is James’ story.
“2013 was the year I decided to quit my banking job to pursue my personal interests. But before I resolved to call it quits, a lot had happened in my life. From what I experienced as a Banker, I won’t wish anyone to take up any banking job.
I used to work for Equity Bank and I was a teller. During my time, I was always up at 4:30 am and slept at 12:00am.In my house I was a guest and my workstation turned to be my temporary home. I didn’t like the life.
After working for Equity Bank for three years, I realized I wasn’t growing financially and socially. I was earning Ksh 55,000 ,money that was not enough to do a meaningful project. I took a loan once of Ksh 250,000 and the only thing I did with it was to pay school fees for my siblings.
One day I decided to take a risk…to quit my job. But before I quit, I had to consult my friends and family members. The first person I consulted was my workmate,who,out of fear, discouraged me from quitting.I moved to a next time,my mother.
“Mum,I want to quit my job”,that’s what I told her through a phone call.
She replied:”my son,if you quit,what can we eat?I am currently diagnosed with pressure,if I see you suffering, I will die, please don’t quit”
Again, my mother’s answer wasn’t helpful. I was now desperate to look for someone who had undergone the same experience as mine and I was lucky one of my college mates, who quit his job to start a salon and SPA ,was in line to help me.When I explained to her, she readily encouraged me to quit.
Leaving a regular job is not easy, I can testify, but this time I was ready to risk but didn’t want my mother to get a hint I had quit. Two months later,after I carefully analyzed risks, capital requirement and profit margins, I decided to experiment on boda boda business. I needed quick money, which is why I though boda boda would give me regular income.
I withdrew Ksh120,000 I had in my account and bought one Boxer motor cycle from a shop in Nairobi. I had done my research and determined where I could get maximum returns. I took my cousin who knew how to ride a boda boda,told him to operate at Kahawa Sukari.I took insurance policy and bought safety jackets and helmets. The capital for this business was Ksh150,000.
For the first time I was surprised how quick one can make money. I regretted wasting time as a banker. The first week into starting the business, I managed to make Ksh 5, 000, that is after I had my cousin and catered for other expenses.It took me 6 months to add another boda boda.
By last year, 2016,I had a total of 6 boda boda ,and each was earning upwards of Ksh 600 per day.Today,I am able to make up to Ksh300,000 per month and the number of boda boda under my name have increased to 12.I don’t regret the step I took,I actually regret the years I worked for Equity.