If you love to drive and want to be in business for yourself, a one-person taxi business may be something to consider. Owning a taxi business involves more than simply driving customers from one place to another. Understanding all of the aspects of owning a taxi business can help you succeed on your own.
- Skill level:
- Moderately Challenging
Things you need
Purchase the vehicle that will be used as your taxi cab. You can choose between used or new vehicles. Have the vehicle checked by a mechanic for reliability and safety. Have a meter installed. A meter measures both the distance travelled and waiting time so you and the customer can see what the fare is at the end of the trip. According to Meters 101, meters are required by federal law anytime you operate a business that charges by units, such as by the mile or by the minute. Have your logo or the word taxi alongside your business phone number placed on the vehicle. Check with local and state ordinances and have a passenger dividing screen installed if required or desired. Insure the vehicle for commercial use.
Obtain required business licensing and research any local rules that apply to owning a taxi company in your community. Check with the business tax office at your local city hall to determine whether you need to report sales figures on a quarterly or annual basis.
Determine what geographic area your taxi company will incorporate. Use a map to mark the areas of operation and place the map near the business phone for easy visual accessibility.
Investigate gas stations throughout the area to find the least expensive companies. Note the hours of operations and whether there are different times of day that are more busy than others.
Design and purchase business cards. Establish rates and have brochures printed up that include your rates, hours of operation and geographic area you cover.
Advertise your taxi service in local publications, at senior citizen centres, hospitals and other places where taxi cabs are needed. Ask if you can place brochures on notice boards. Offer a discount for the first trip with new customers.
Hire an accountant to handle your accounting needs and business deductions.
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