You are looking at how to start a taxi company but don’t know where to start? Here are 3 things to consider while putting together your plan.
1. Your Market and Competition
Check out the market in the area you are considering servicing. Is it already saturated with other taxi companies? This doesn’t have to stop you! Look closely at your competition. Who are they servicing? Is it possible, through marketing, to cater to a specific audience? Once you’ve thought through that, think about your routes and the distances you are willing to travel.
2. Your Company’s Size
Are you a one-car show or managing a fleet? You must purchase reliable vehicles with plenty of passenger and trunk space and license those vehicles appropriately. Research insurance options for your equipment and employees, if you have any. Will you need dispatching software or function through calls to your cell phone? What about a home base?
3. Your Future Ambitions
Where do you see the taxi company in 5-10 years? Planning and structuring your company for growth now is important. Construct a business plan that includes your marketing and expansion strategies and set short and long term goals as well.
There are many things to consider when creating a taxi company. Having a solid action action place is a great place to start.