May 25, 2013

10 Reasons Why Being an Independent Taxi Driver Makes Sense For An Entrepreneur

10 Reasons Why Being an Independent Taxi Driver Makes Sense For An Entrepreneur

10 Reasons Why Being an Independent Taxi Driver Makes Sense For An Entrepreneur
By Ross Taylor

Here are the 10 reasons why I believe that being a humble Independent Taxi Driver is the best Real Job you could have if you wanted to run other Micro-businesses on the side.

1. Freedom to work where you want and when you want. You could go out at Midnight on a Monday night if you so wished. This is the Key Reason why Taxi Driving fits in so well with running other businesses. You can literally fit Taxi Driving into the gaps.

2. No Boss to worry about.

3. Your "tool" is your Car. This same car can be used for alternative business purposes when not in use. You may find that it is most worthwhile to pay someone else to drive the taxi when you are not available.

4. Taxi Driving is a cash business.

5. You get out and about in your community. This leads to further opportunities landing on your lap.

6. There are relatively low barriers to entry. Without being derogatory, it is easier to become a Taxi Driver than a Pharmacist.

7. Taxi Driving is relatively good paying. Do you know any ex-Taxi Drivers? Don't get me wrong Taxi Driving won't get you a 5 Bed Mansion on the 18th Green of a Golf Course but it will keep the Wolf from the door. A driver I know brings in �50k per year despite working nowhere near a 40hr week.

8. Taxis are not going out of fashion. Woolworths came and went but Taxis are here to stay. I would say that Car Ownership has probably levelled out in the UK. Taxis will always be needed for those without a car but can't take the bus for whatever reason.

9. Overheads could be low if managed correctly. I'm assuming that the overheads for an Independent Self Employed Taxi Driver would be: Cost of the Car, Cost of running the Car, Carrier Insurance, Licenses and Permits from the Council. Of all these I am assuming that Fuel would probably be the highest. There is an easy way round this - switch to LPG. At the moment there are nice Mercedes, BMWs and Range Rovers with LPG fitted available on eBay at very reasonable prices.

10. Taxi Driving can give you a high return per hour worked. Let's take a Saturday Night dealing with a normal Taxi queue in any British town. I'm assuming that a Taxi Driver could do 12 runs from Midnight to 3am in Stirling or Alloa (and these are relatively small towns). At an average of �10 per drop this would bring in the equivalent of �40 per hour.

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