The taxi industry has changed a lot in recent years and this is largely due to technology. As one of the first companies to utilise technology to simplify and enhance the user experience, Uber created a new business model for the industry. While Uber’s success has been smattered with legal complications, they have had a huge effect on the taxi industry, changing the way firms operate.
So, if you want to start and run your own taxi firm, what does this mean for you? And how can you be successful in this new digital age?
Apply for a Licence
All taxi companies and vehicles require a licence to operate in the UK, so before you can open for business, you need to complete your application. You can find information on the types of licences on the Gov.uk website.
In addition to a licence, a taxi company will need several insurances. This will include commercial insurance (as opposed to personal driving insurance policies), and public liability insurance, which will protect your company if your property is damaged or a member of the public is injured.
The Right Cabs
In addition to the type and level of service your business offers, the types of vehicles you have in your fleet are essential, too. Choosing pre-modified taxis is the easiest option, with companies like Cab Direct selling specialist vehicles. Remember to also consider ease of access for disabled passengers.
With contactless payment methods, more people than ever are using cards as their preferred payment method. To attract more business, consider going cashless. In addition to being more convenient, it provides faster payment options, helping your taxi company to stand out.
Create an App
It is fair to say that the world is technology obsessed, so much so that an app has been launched that not only tracks usage, but locks your phone to promote time away from the screen. For a taxi company, an app can help to provide a quicker and more efficient service, deliver automation, and provide real-time updates to customers and employees.
Prepare for Upkeep
Taxis do a lot of mileage, so in addition to the initial purchase price, remember to factor in the upkeep costs. This includes regular servicing, new tyres and yearly MOTs. Ensuring you have the cash flow to cover these will allow your company to grow, helping your business to compete.
Lastly, running a taxi company can be a lot of hard work. Many firms operate around the clock, so this is not an industry to work in if you enjoy the standard 9-to-5 routine. However, while it can be difficult, as long as you’re prepared to put in the work, running a taxi business can also be very rewarding and everyone is thankful to get where they need to go in a safe manner.