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Reap Rich Profits With A Taxi Service

Updated on June 10, 2011

Taxi Service As A Small Business

The first thing you look for as you disembark from a flight or ship in every city in the world is a taxi. And whenever a traveler wants to go sightseeing,and he does not want to take the local train or subway or the tourist bus, he opts for a private taxi. Taxis as you know are unique in each city. They are visible with the Taxi sign board on top. If it is a city taxi , they are fitted with a wireless and a meter to tell you the fare to be paid according to the distance covered and waiting time.

Well most cabs are registered with a travel agency or a city taxi provider so as to get business.

What do you need to get into this Taxi business?

Of course, a vehicle that the city taxi service provider/travel agency is looking for. Banks give you a loan for purchase of commercial vehicle which then needs to be registered in your city and the required inspection checks are completed before Permits to run the vehicle as a Taxi are issued. Wireless sets and hiring meters are setup and you are ready For Hire. But, before that you need to register with the right travel agency or taxi service. The taxi service provider or travel agency runs a call center to get its customers and will despatch the taxi closest to the customer. And your taxi gets engaged.

You also need a good driver to run your taxi. If you wish to get more profit out of your taxi , you must run it 24x7, which means you hire 2 drivers, and engage them in a 12 hour shift or a 24 hour shift-whatever is permissible in your city. If you wish to run the taxi yourself, you can engage one more driver. Drivers need to be checked for previous criminal records, and valid licenses, apart from holding a permit to work in your country if they are immigrants.

ROI in this taxi business is good if your business is good. Special seasons such as the Holidays gets you extra good business. Repeat customers are a boon when business is lapse. On the whole, whether you market yourself or through a registered agency, you get to pay off your loan quickly by which time you get confident enough to go in for a second and a third vehicle. That brings you to the point of being an entrepreneur. Yes, you are then in the taxi business, and reaping rich profits too.

The most important thing to be cautious about is the maintainance of your vehicles and renewing of your permits in time. This saves you time & money,as fuel efficiency is of utmost importance. If a vehicle meets with an accident or is out of circulation for any reason such as repairs or driver absence, you lose that many days' business. It is necessary therefore to have your vehicle insurance papers in order.

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    • Purple Perl profile imageAUTHOR

      Purple Perl 

      8 years ago from Bangalore,India

      DeBorrah, thanks for stopping by. By the way, I ran this taxi business myself for 5 years with 3 vehicles.

    • DeBorrah K. Ogans profile image

      DeBorrah K Ogans 

      8 years ago

      Purple Perl, Nice hub! You have provided great information for anyone interested in acquiring a "Taxi Service" Business! Thank you for sharing, Blessings!

    • Purple Perl profile imageAUTHOR

      Purple Perl 

      8 years ago from Bangalore,India

      You are welcome, TnFlash.

    • TnFlash profile image

      TnFlash 

      8 years ago from Tampa, Florida

      Great Hub! This is a good business for anyone to start. You can hire drivers or work driving yourself. Good recommendation.

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