Taxi Cab Service Start Up Sample Business Plan NEW!

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Taxi Business Plan

In addition, increased demand from corporate travelers, tourists and private households is expected to result in steady growth for this industry. The Taxi and Limousine Services industry is indeed a very thriving industry in most countries of the world. The industry is responsible for the employment of well over , people drivers and administrative staff members. Experts project the supermarket and grocery industry to grow at a 6.

There is no establishment in this industry that has a dominant market share in the United States.

Within that same period, GDP is estimated to increase by 2. Basically, the industry demand is usually influenced by disposable income levels corporate profit and domestic trips by US residents. You could start with handbills and distribute them in cooperate organizations and public places.

Ridesharing company

As a matter of fact the internet has become one of the cheapest and most potent advertising platforms. Over and above, taxi cab cum limousine services businesses all over the world are still enjoying good patronage particularly if they have comfortable taxis, professional drivers and if they are well positioned and if they know how to reach out to their target market corporate organizations, hotels, travels and tours companies, government and household et al.

We chose to operate in these cities because we know that our services will be in high demand due to the demographic composition of Florida. We are well trained and equipped with some of the finest taxi cab drivers and comfortable cars to service our clients irrespective of their social and financial status.

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The current system, which relies on the closest cab to an order bidding on the order, means that orders are constantly being held up while the bidding takes place. Radios : This cost would also be borne by the broker at start-up, and would be minimal for the company. For more information, see Legality of ridesharing companies by jurisdiction. The city has recently seen the implementation of several sports franchises, an auto race, expanded concert venues, hotel construction, and are planning a downtown convention center which should pull in business from the surrounding cities in Ohio and throughout the United States. Another reason is that only recently has Toledo developed a significant downtown business. Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below.

Our services will involve taxi services, taxi leasing and other car services, luxury and corporate sedan services, stretch limousines and buses, SUVs and large vans rental services et al. We are a company that will be dedicated to establishing good business relationship with our clients giving them value for their money and reasons for them to hire our services over and over again. We are quite aware that in order to become the number one choice in our city, we must continue to deliver quality and highly reliable services and that is exactly what we will do.

We are open to the use of latest technology in the taxi cab cum limousine services line of business. No doubt our excellent customer service and the quality of services we offer will position us to always welcome repeated customers and handle massive deals from both government agencies, and corporate organizations. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Use social media for taxi marketing

Our services offering are listed below;. Our vision is to become the number one taxi cab and limousine services company in the whole of Florida with active presence in key cities all around the State of Florida. Our mission as a standard taxi and limousine services company is to develop a highly successful, profitable business which provides quality automobile transportation services in our city and to become a standard for an ideal taxi and limousine services business not only in the State of Florida but also throughout the United States of America and Canada where we intend launching our business and selling our franchise.

We are quite aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our taxi cab cum limousine Services Company on the right business foundation. As a matter of fact, we are set out to build a taxi and limousine Services Company that will be a standard for an ideal taxi and limousine services industry in the United States of America and Canada.

We want to build a business of dedicated workforce who will go all the way to ensure that our customers are satisfied and they get value for their money.

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In other to achieve this, we aware that it takes a business with the right employees and structure to achieve all what we have set to achieve, which is why we will be putting structures and processes in place that will help us deliver excellent services and run the business on auto pilot. The success of our taxi and limousine services company will be anchored on the team not on any individual — drivers and back office staff members inclusive. With the wide range of our service offerings, we are only expected to employ more than it is required to run a conventional taxi and limousine services business.

Taxi cab cum limousine services business is one of the many businesses that can easily generate sales with little stress as long as they are well positioned and equipped to carry out their services. We are building a standard taxi cab cum limousine services business with the plans to sell our franchise all across the United States of America and Canada which is why we have decided to subject our business idea company to SWOT Analysis.

We hired the services of Mrs. So also we have a well — experienced and qualified team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details. The fact that we are launching out in the heart of Miami — Florida, provides us with unlimited opportunities to market our services to a large number of corporate organizations, travel and tours agencies, hotels, government organizations and households et al.

As with any new business, a taxi service business plan should be developed. This document should include a profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. If an individual entrepreneur is looking to raise capital via a bank loan than it is absolutely necessary that any expansive business ratios and lending ratios page is developed.

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This will showcase to the potential funding source the fact that the business will be able to support monthly loan payments. Beyond financial information, the taxi service business plan should also have an extensive market analysis completed. This includes an overview of median household income, population density, population size, and effective market radius. This analysis should be in-depth especially for areas that are more rural given that there is can be a greater lag time between individual fares taken by taxi drivers.

One of the things that should also be discussed is the number of competitors within the local market. This includes taking a look at how many individuals are enrolled as Uber drivers or Lyft drivers in any specific area in which the entrepreneur is looking to launch these types of operations. A taxi service marketing plan should also be developed. This marketing plan can be somewhat limited given that companies like Uber and Lyft frequently do the marketing on behalf of taxi drivers. As it relates to proprietary marketing most taxicab services focus significantly on developing relationships with local corporations that have ongoing personnel transportation needs.

Rather, specialize in a niche with a targeted customer group.

Overall, you should choose something that you feel the most passionate about and where you can provide the most outstanding service. Once you found out in what niche you want to work, write a business plan. A business plan helps you to figure out the steps necessary to get your driving service business started. Your business plan should include your competition analysis, a financial plan startup costs, operating costs, expected expenses and income , an operating plan and an overall description of your driving service business. Commercial auto liability coverage is essential for any driving service business. Obviously, if you just have a town car you can accommodate it at home.