What Do I Need to Start a Taxi Business?


Quick Answer

Starting a taxi business depends on the size of the operation and where it is located. That said, there are some common factors that are essential no matter what. These includes a car, branding, a license to operate as a taxi driver, insurance and a meter.

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Full Answer

Cars are usually the biggest expense for new taxi companies, whether there is one car on the road or many cars. Capital or a means of financing the car is required.

Some work will then be required on the car. This includes buying an approved meter and getting it fitted. It also includes branding, which often means painting the car with a logo and/or a telephone number.

An appropriate taxi license is also required. The type of license, the cost and the availability all varies depending on where the new taxi company is going to be located.

Dispatching software and computer hardware will be required, particularly if there are multiple vehicles on the road. Plus staff will have to be hired, both as dispatchers and as drivers.

The other important document that is required when starting a taxi company is appropriate insurance. However, it does not end there. Sufficient thought and an appropriate amount of funds should be allocated to the day-to-day running costs of a taxi business. This includes gas, as well as car cleaning, maintenance and repairs.

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