Carving Out A Niche For A New Taxi Hire Firm

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Starting a taxi firm is like starting any small business. You need to conduct good research, ensure there is or could be a market for your service, and then ensure that you fulfil that need. There will be challenges ahead, but there is also the potential of bringing in a substantial profit over time, and even if you are only planning on starting off with a single vehicle of your own, you should consider a niche to concentrate on. You can take any bookings, of course, but if you offer airport runs, wheelchair access, or luxury taxi hire as your primary niche, then you can build a brand around this specialist niche.

Wheelchair accessibility isn’t available in all cabs and private hire taxis, although all London cabs should offer accessibility. This means that the accessible taxi niche has less supply, although it also has less demand. While you don’t need any specific licence to be able to set up this type of taxi hire firm, you will need to be highly customer focused, ensure that wheelchair ramps and other accessibility features are well maintained, and that your taxi really does offer proper accessibility.

Airport runs mean ferrying passengers at the beginning and end of long journeys. While some customers will be happy to be getting away, others may be less than happy after having spent several hours on planes and in airports. Comfort is important, but room to store luggage and timing are even more important.

As well as ensuring you have a decent size taxi, you should invest in a good quality satnav, always make sure that you know flight details so that you can track take-off and landing times, and be prepared for long journeys.

Luxury travel means offering a luxurious experience. You will need to ensure that your car is brand new, that it has all the extra trimmings including leather upholstery, and be willing to wear a shirt and tie while driving. You should also be prepared to go the extra mile, because luxury travel passengers will expect you to. However, by investing a little extra money and time in your taxi firm, you could reap even greater returns and high levels of customer service should always be a main priority, because it leads to greater customer retention and improved word of mouth marketing.

Establishing your own taxi firm takes dedication and motivation. You need to be willing to put in long and unsociable hours, and you will have to invest in a decent quality vehicle. Ensure that the market in your area isn’t already saturated with similar companies, and consider a niche to help attract and retain clients.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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