How To Start A Taxi Business

Image of a cab

Quick Overview of Operating Your Own Cab  Service

Everyone needs a place to go, especially in the city.

Cabs are one of the first choices people make when deciding to get somewhere.

If one knows the roads and is sociable, they can make quite a living as a cab driver. They can make an even better living if they run the whole operation.

A taxi service is a potentially profitable venture that you can invest on particularly if you live in the city and there are plenty of people who need the services of cabs.

In larger cities, many people rely on public transportation or cabs to get around. In other areas, cabs may not be used as much, but there will be less competition.

Regardless of the size of your metro area, starting a cab company and operating your own taxi cab can be a financially rewarding business opportunity

It is important for one to decide whether they want to go solo or if they want a lot of drivers. Regardless of what one chooses, the next step is to factor in the price of the car, having the meter fitted, getting insurance, and keeping in mind future repairs. Many banks will offer a loan for this type of business venture

How To Start A Cab Business – Tasks And Skills Needed:
Business Specific Tasks:

If you are planning to do all the business tasks or hiring or subcontracting tasks, here’s a list of tasks that need to be attended to when it comes to the business side of running a cab business:

 

Industry Specific Tasks:

Same as above if you plan to do everything yourself or get help, here are some of the tasks necessary to operate a cab business:

Pick up and drive customers to destinations

  • Log and record mileage and fares
  • Detail cabs (clean them)
  • Fuel cabs
  • Map city streets and major intersections
Approximate Daily Hours Needed:

General Hours of Operation: – When your business is open – These could vary significantly. In cities people never sleep, therefore one might need to run cabs 24 hours a day. If you are the only driver than it might be up to you to decide when the best hours are for business.

Hours Needed to Prepare – Before Opening and After Hours Activities

Detail cabs, fuel cabs, outline (map) pickups or plans to park at airport, bus stations, etc., order cleaning supplies/have cars cleaned, advertising and promotion.