Start up your own Taxi Company?
So you have a Taxi Driver's Licence, what now? You have a few options, Firstly we'll look at starting your own Taxi Company.
So you want to be your own boss and take charge of your life. Thats great, working for yourself gives you flexibility and control over the work you do and most of all you get to keep all the money you make! Lets look at some of the Pro's and Con's involved
Pro's:
- You are in charge, you are the Boss!
- You decide when you work
- You get to make up the rules
- You can choose who you hire to work for you
- You Decide which vehicles you will drive
- You get to name your company and choose your logo and marketing materials
- You run the finances so you decide what to spend money on and what not to
- If you are successful, you could grow a big company and make lots of money!
Now the funny thing about the Con's is that they are very similar to the Pro's, as you will see below:
Con's
- When you are the Boss you have to personally be responsible for everything. While you may be able to employ staff to take over some of the work for you, you will still need to make sure everything is running smoothly because if you don't you could lose everything!
- You decide when you work: let's bear in mind that lots of taxi firms operate 24 hours a day, 7 days a week. Customers don't care if you need to sleep, they need a Taxi and they want it now! you need to be available when they call or they will go elsewhere.
- You can choose who you hire to work for you: Firstly you need to find people to hire and advertising can be expensive. Then you need to ensure these people are trustworthy, there are lots of ways you can get ripped off by your staff and if you don't protect yourself you will get ripped off.
- You Decide which vehicles you will drive: And when they go wrong you have to pay to have them fixed.
- You get to name your company and choose your logo and marketing materials: More work for you to do and if you can't do it yourself then you'll need to pay someone to do this for you. Advertising your Taxi Company is important if no one knows you exist how will you get any customers?
- You run the finances so you decide what to spend money on and what not to: Accounting is hard work if you don't know what you are doing. If you want to avoid paying too much tax or get fined for not paying enough then you will need an Accountant.
- If you are successful, you could grow a big company and make lots of money: On the flip side, if you are not successful you could end up with massive Debts or Bankrupt!
Conclusion:
Starting up your own Taxi Company is not impossible, I've done it! But be warned it is not easy and you need to be ready to work really hard and very long hours. But with a bit of luck and knowing the right people you could do it too!
Stay tuned for the Pro's and Con's of working for a Taxi Company
~Taxi Blogger