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How to Start-up Your Own Taxi Business

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If you are considering starting your own taxi business you could quickly find yourself becoming very successful, providing you have the right foundations in place. Taxis can offer a convenient service, which in the right places can be very sought-after, particularly cities whose public transport is struggling to cope with demand.

So if this is something you’re interested in doing, here’s what you need to know and have in place:

The Right Attitude

Firstly, you need to have the right mind-set for becoming a taxi driver. Good people skills are fundamental as you’ll be dealing with all different walks of life, so needless to say if you’re more introverted this might not be for you.  More to the point, customers will probably prefer a friendly, talkative driver than a silent one.

Research your Competition

Along with this you should also look at what the competition is like in your target area and niche. More densely populated areas are a better option because you’ll have a larger client base to work with. However, look at what other services are operating are offering there; what their prices are like and whether or not they are aiming at a specific niche. Then, use this to your advantage to create a business plan that will offer people a better option.

Be Fully-licenced and Insured

These first two points are what you need to be completely sure about before you start spending money. When you’re happy you’ve made the right choice you need to have the necessary legal documentation.

You may have to take an assessment even if you have a full driving licence, but all other details surrounding the licencing of UK taxis or private hire vehicles can be found here on gov.uk. At the same time you will need to have an insurance policy in place which specifically covers you and your vehicle for taxiing purposes.

Find the Right Vehicle

You can of course invest in a new vehicle and purchase something which will be both affordable to run and accommodating for passengers. Aim to invest in a vehicle which has a decent MPG and low emissions, the latter is especially important as the country is continuing to cut emissions to get in line with EU requirements. You can find specialist dealerships like Cab Direct though who can help inform your choice.

Advertise your Services

Social media profiles are great for getting your business name out there, and better still they’re free. Other options you have are leaflets, business cards and posters dotted about the area to publicise your services to your chosen demographic.

Plan for Expansion

Unless you’ve got a substantial financial investment you’re likely to follow the above steps and start small with your business. Don’t limit yourself though if this is the case, plan for future expansion and set yourself goals to work towards. For instance in five years’ time you may want to have other drivers working for you and beyond that you might want to consider setting up a base and hiring a location for your firm.
Whatever preferences you have, follow this advice to suit your needs and you could soon begin to realise commercial and personally-satisfying success from your very own taxi business.

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