Last updated on January 8, 2020
When starting a taxi business, your biggest spending might be your car. If you do not have a reliable car, you will not be a taxi driver. As with individual vehicles, the cost you’ll need depends on the age, brand, and model you choose. When we talk about taxi insurance, there are two types of insurance Private Hire Insurance and Public Hire Insurance.
Getting the right car is not the only budget you need when starting a taxi. Do not forget the fuel and ongoing maintenance costs of your car and other basic costs such as insurance. In order to the best price of insurance for your taxi, you should consult with the taxi insurer and get the Short Term Taxi Insurance policies. Because when you take taxi insurance policies in the short term, you will also be able to save a handsome amount. You need professional communication equipment such as the radio to keep in touch with the fare. You need to invest in a payment facility so that your customers can use their credit card to pay you.
The Cost of Taxi License:
You also need to pay a taxi license fee (fees vary depending on your location). If you need to do a test, you can add it too Audi Q7 Personal Contract Hire. Tests you may need to pay to include:
- Medical Examination:
To prove that you are leading healthy. The cost may vary
- Language Test:
You should be able to demonstrate that you can communicate to the lowest level in English. If you have an NVQ / GCSE / O level on any topic, that’s enough. If you do not, you may need to do a temporary English language test (IELTS). Fees may vary.
- Knowledge Testing:
If you plan to become a taxi driver in London, you will need to test a prestigious knowledge. You may also want other parts of the UK to take the test, indicating that you know the area well. This may be included in your order fee and may also be subject to additional charges. If you fail for the first time, you may also need to pay an extra amount to use it again.
- DBS:
You must provide Disclosure and Blocking Services (DBS) when applying for a taxi license. It determines whether you have any convictions or warnings that may prevent you from working with the public. You cannot apply for it yourself, but you can request basic disclosure, but you must pay.
The Cost of Taxi Insurance:
Taxi drivers pay an average of £ 1,300 to £ 1,800 a year as premiums. Of course, your site, vehicle, and any previous claims or penalties will affect these fees. If you are a private hire driver then you should take the Private Hire Insurance and compare the cost of the insurance between the reputable companies.
Additional Costs to Consider:
There are other things to consider at startup. For example, how do you tell people about your taxi business? The budget amount is used for advertising in a local directory and printing flyers to leave the main sites.
Earning of the Taxi Driver:
The amount you can get depends on the number of hours worked, your place of work and your working hours. The national professional service estimates that taxi drivers can earn up to £ 30,000. But remember that your amount on the fare is only half the story. You can search for Cubit Minicab Insurance in order to get more information. To maximize your income, you should also consider reducing your expenses, such as basic taxi insurance Audi Q7 Used Cars.
