Taxi firm
Introduction
So you've decided you want to run a taxi business. This guide will take you through the issues you need to consider and give you practical pointers on getting started.
Sector trends
In recent years there has been:
- a steady increase in demand for taxi services, stimulated to a large extent by the introduction of stringent drink-drive legislation and an increase in tourist and business activity
- an increase in many areas in the number of taxis and private hire vehicles, creating a very competitive environment
- the introduction of requirements for taxis to be wheelchair accessible
- significant increases in fuel and licence costs while fare levels have remained competitive
Although overall demand for taxi services is likely to remain reasonably strong, you will have to decide whether:
- demand will be high enough in your particular area to provide you with enough trade. If you plan to operate in a rural area, there simply may not be enough customers who will want to travel by taxi on a regular basis
- your local economy is healthy - if your area has been unlucky enough to suffer from many business failures and factory closures recently, local people will want to spend as little as possible on transport. Although the economy seems to be recovering, the next couple of years are still likely to be tough for the taxi trade
- there is room for another taxi business in your area
1.1 Keep up to date with the taxi sector
The Licensed Taxi Drivers Association represents the interests of taxi drivers in London and produces Taxi journal.
There are many local taxi associations representing taxi businesses in different parts of the country. Contact the National Taxi Association for details of your local branch.
The Public Carriage Office website contains full details of what you need to know to become a London taxi driver.
The National Private Hire Association publishes Private Hire and Taxi Monthly and provides a range of other useful information.
The London Taxi website is operated by a working London cab driver and provides a forum for the London taxi trade.
