![]() There are so many niches you can serve in the taxi industry.įor instance, there are the late Friday and Saturday night clubs and restaurant-goers. Therefore, you need to identify a specific and ideal passenger avatar to cater to them more effectively. ![]() If your answer is “everyone” you’re basically going to cater to no one. Think about this, for example: who is your target market? Why is market research important? Because it helps you identify niches within which you can operate and customers that you can serve. Some of the most important steps you’ll need to take at the beginning of the process include: Market research Starting a taxi business – whether you’re an owner-driver or a private hire firm – will require some prior preparation, as with any business venture. How to start a taxi business or a private hire firm There were around 251,100 licensed taxis and private hire vehicles (PHVs) in the UK in 2021, and even though the Covid-19 pandemic brought a decline to the industry, it will always be required as a service to millions of people around the UK every day. Instead, they operate with a prior reservation and pick up passengers from one location and deliver them to their destination. These are taxis that are, by law, not permitted to pick up passengers off the street at all. But mainly, it comes from a historic time when horses that drew carts for hire were called hackneys, named after the place they were from. And if you’re wondering why it is called a hackney carriage, well, the answer will depend on where you look. Hackney carriages are taxi drivers that drive cabs that pick people up off the street. One of the fundamental questions you may have if you’re just starting out is what is the difference between a hackney carriage and private hire?Ī quick distinction here will put your mind at rest. Taxi (hackney carriage) vs private hire (minicabs) – what’s the difference?Īs mentioned above, there are different business structures when it comes to the taxi industry that you need to be aware of. ![]()
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