How to start a taxi firm
23rd August 2022
There was once a time when collaboration and utilising the expertise and knowledge of others was possibly considered a weakness for budding entrepreneurs and start-up companies.
Those who decided to ‘go it alone and handle every aspect of their start-up were considered visionaries, go-getters and driven.
Of course, all that is likely to be true, however, these days there is a much greater emphasis on tapping into the resources available to ensure your vision has the best chance of becoming a reality.
In the dynamic, fast-moving and, at times, complex world of private hire – this is particularly pertinent.
Here are four of our top tips on getting your taxi firm off the ground and making sure you remain on the road to long-term success.
The legal stuff…
Red tape, bureaucracy, tax, company registration… there are myriad elements of starting a business that don’t exactly set the heart racing (not for good reasons anyway!).
Given taxi hire is a public-facing industry it is naturally heavily regulated and scrutinised and misunderstanding or accidentally neglecting any aspect of the legal stuff can derail your progress or worse.
Take control of the aspects you do well and are comfortable with and for everything else, align yourself with an organisation such as iCabbi which knows the industry – and its demands – inside out.
Knowledge is power
You’ll want to quickly grow a reputation amongst customers and potential customers who may be slightly guarded given you are new to the scene.
Accessing tailored insights, tapping into business intelligence solutions, getting expert advice on reacting to the challenge of Uber, absorbing the experience of professionals on attracting and retaining the best staff… all this and more can help you establish yourself quickly and head towards an upwards trajectory for sustained growth.
Starting up a taxi firm gives you a phenomenal opportunity to get your systems and processes right and performing from the get-go.
Driver and passenger apps, automated booking solutions, the latest Cloud-based systems, in-car cash-free payment… all of these innovative solutions and more are offered by iCabbi.
Not only can embracing such processes help streamline your business and create an efficient, well-oiled machine, you’ll keep expenditure to a minimum, enhance profit opportunities and quickly develop a reputation as a forward-thinking, modern organisation that customers want to associate themselves with.
What’s your vision?
At the start of your journey, you may have very clear and short-term aspirations – and there’s absolutely nothing wrong with that.
You’ll want to establish yourself, get the key in the ignition, pick up your first customer and earn your first fare – all of this demonstrates good progress.
However, in order to become sustainable and successful, there must be a realisation that no business – especially ours – can stand still.
Down the line you will need to react to changing landscapes, be fleet of foot in integrating new, game-changing products coming to market and adapt to changes in customer behaviour and expectations.
Reaching out to a business like iCabbi who have their finger on the pulse and the capabilities to assist in the evolution of your business – from seamless system upgrades and installations to accessing a forum of fellow taxi firm business owners – is a great way to futureproof your new business from the very start.
Our extensive, all-encompassing range of innovative and best-in-class products, not to mention the industry-leading level of support on offer 24/7, makes iCabbi the go-to solution for private fleet hire companies of all shapes and sizes – from start-ups and those looking to grow, to long-established businesses with a nationwide presence.
Get in touch today to discover how we can become, in effect, an extension of your fledgling business – helping you realise your vision and translating it into a prosperous, profitable and enduring success.