taxi service business plan (pdf)

Starting Taxi Business Plan (PDF)

A taxi is a vehicle that may be hired for single journeys by members of the public. It is also commonly referred to as a cab or taxicab. There has been a notable market disruption emanating from digital solutions. A whole new industry of online taxi services has grown over the years. For instance, in the USA, Uber facilitates over 40 million rides every month. Even as online taxi services continue to grow, traditional taxi services are still relevant. It is still worth it and profitable to start a taxi business. Taxi cabs play a significant role in the transportation industry. People opt for taxis due to a variety of reasons including convenience and exclusiveness. Starting a taxi business is a very profitable venture, which is highly rewarding. This article will outline how to start the taxi cab business, and the taxi business plan – PDF, Word and Excel.

The possible sets of destinations for the various customers make it apparent that the demand is huge. The fact that more and more players are starting taxi businesses speaks to how lucrative the business is. Once properly setup this is one type of business where you will be assured to realise revenue on a daily basis. This article will help in informing you with vital information you need to know on starting your own taxi cab business.

Market Research

Already we have stated that an increasing number of players are entering this space. This spells out ‘competition’ and whenever competition is involved you can’t overlook the importance of market research. Just by taking a look at how existing players conduct their businesses you’ll notice that they serve different target markets. Some solely focus on people commuting to and fro work. Some specifically target airports and termini. Others have strategic spots they operate from in central business districts to cater for wide-ranging customers. So in order for you to ascertain that you’re on course, you must research to find out which markets are available, penetrable and sustainably scalable. It’s a must to take a look at existing players. Essentially this means you must closely study them to draw invaluable insights that’ll help you start strong and even eventually topple your competition. Some of those insights will be on popular services offered, rates charged, types of vehicles and payment methods amongst others. This makes it a must to have a good taxi cab business plan.

Taxi Business Model

The traditional business model for a taxi business is simple. It entails having an area where you operate from and in. You park somewhere and clients can come up to you in need of a taxi ride. You can be an owner-driver or you can have a fleet of taxis you own. You can charge fixed rates for specific routes or you can use the metered approach. The metered approach (i.e. charging per mile) is best because client needs can be so random. Another approach is charge per duration of a trip e.g. per hour.

You could charge per day as you would for a car rental. This can apply for a client who wants to be taken to several locations consecutively in a day. Charging can also be dynamic where you simply negotiate with a client. You could also have a retainer arrangement with wide-ranging clients. The online aspect is somewhat the same. The major difference is that when using an online approach, clients book a ride online. This is doable by developing a mobile app for your taxi business. The fares you charge can differ given the costs elements you would want to offset.

Vehicles and Equipment

The major procurement you must make is vehicles. The vehicles can be imported from other countries where they are cheap or you can buy them locally from your country. The number and type of taxi cabs required will depend on the amount of capital which you have and your target market. You will also have to make a decision of whether to buy brand new vehicles or used taxi cabs. When starting the business with limited capital, you may opt to purchase used cars. The advantage of having new taxi cabs is that you have lower maintenance costs and better reliability on the road.

There are several factors to take into consideration when purchasing the taxi vehicles. Some of the factors include: purchase price, fuel consumption, transmission mode (automatic vs manual), gross vehicle mass, model, new taxi cab vs used taxi cab. If you have limited capital, you can always start your meter taxi business with just one vehicle. Taxi cab business is very profitable and if you reinvest your profits, you will be able to purchase more taxis.

Equipment required for the meter taxi business include garage equipment, taxi meters, taxi partitions, top lights, communication radios (for communication with the dispatch centre). The taxi drivers should always travel with basic repair tools such that if they encounter minor problems along the way, they can always fix the taxis. The taxi business plan should include the costs of purchasing the vehicles and equipment.

Taxi Servicing And Repairs

When running a taxi business you can never compromise and expect to thrive. Customers are most concerned about convenience. This means your taxis must always perform optimally. They must always be fully serviced and devoid of any operational issues. That is why you must always take your taxi(s) for service. It is advisable to have a reputable servicing and repairs provider that you work with. Always keeping your taxi(s) clean and doing daily checks before, during, and after daily operations is key here. If these elements are all kept in check it is rare for your taxi(s) to malfunction. Servicing and repair costs should be accounted for in your taxi business plan.

Taxi Business Insurance and Licences

One of the critical requirements that can potentially have catastrophic consequences for the public as well as the business is insurance. It is advisable to have a comprehensive insurance plan for all the taxi cabs. The costs of such a package are more than offset by the potential losses if you were to have an accident. As a business; the taxi cab company may be liable for very significant punitive damages particularly if there is a loss of life. Without adequate insurance, the taxi cab business could be bankrupted by compensation claims.

The taxi industry is regulated and the specific licences depends with the country. First of all, your drivers must be properly licensed with up to date records including health checks and driver licences.  Your local council will have a list of regulatory requirements which must be diligently followed lest you lose your license to operate the taxi cab business. The taxi cab business plan should include costs for the insurance and licenses.

Staff and Management

Operations staff is a necessity. Operations staff are responsible for handling the operations of the taxi cab business. They include drivers, assistants, logistics personnel, mechanics and operations manager. You will need a taxi driver as the minimum starting employee for the taxi business.

Finance and accounting employees are also required. For a small taxi cab business, the duty can be handled by the owner of the business or a part time accountant. However as the taxi transport business grows, there will be need for full time employees who will be responsible for the finance and accounting needs of the business. Their duties will include usual day to day transaction accounting for business, managing the cash flow of the taxi cab business, and always ensuring the enough funds are available for the day to day needs of the taxi business.

Marketing is essential for you to be successful in the taxi business. To have a stable financial position, your taxis should get sufficient number of trips every day. This is only possible if you are marketing your taxi cab business. Thus your taxi business will also need marketing and sales staff. If you have a dispatch centre then you also need staff so the dispatch centre. Your taxi cab business plan should cater for the wages and salaries of all your staff.

Competitive Analysis

The taxi business is marked by intense competition. For instance, you have to compete with unregulated taxi operators. You also have to compete with ride-sharing brands e.g. Uber. Competitive analysis in a taxi business is to establish differentiators that can make you stand out. Customers when they hire taxis they have certain expectations. How are other taxi operators faring in terms of meeting those expectations? Answers to that can show you how best you can provide superior services.

You must in great detail know about all your direct competitors. Look at their profiles, their target markets, and generally how they conduct business. Look for verified information or conduct observations by trying out competitors’ taxi services. Once you establish all that you can know where and how to strategically place your taxi business. One of the most effective ways to do your competitive analysis is by doing a comprehensive SWOT analysis.

Capital for Starting Taxi Business

The amount of capital required for starting the taxi business depends on the size of the business. It all depends on what you want to achieve and the resources that you have. When starting a taxi cab business, most of the capital goes to acquiring the taxi cabs. You can get a loan from the bank, or funding from investors, to use as capital to start your meter taxi business. If you plan to raise capital from investors and a loan from the bank, you need a good meter taxi business plan. If you don’t have access to investors and bank loan, you can use your personal savings and start small, and grow your taxi business overtime. Taxi business is very profitable, so if you reinvest the profits you get, you can grow over time. Even if you are not planning to get a loan, you should still get a taxi project plan to guide you in starting and operating the business. It is essential for you to have a meter taxi business plan before you venture into the taxi cab business, so that you know all the costs involved and you make an informed decision.

Market for the Taxi Cab Business

The market for taxi cab services is very huge. There are a lot of potential customers for taxi services. Companies may outsource transportation of their employees to taxi cab companies. Parents require taxi cabs to transport their children to and from school. Individuals may need taxi services for routes within a specific location which are not plied by public transport or within the city centre. Some individuals prefer to use taxi cabs even if alternate public transport is available. This is because taxis are more convenient, fast, offer privacy, and exclusiveness. Potential sites to find clients include hospitals, universities, schools, airports, night clubs, city centre, hotels & lodges, shopping centres among others. A proper marketing strategy should be included in your taxi business plan. 

Marketing Plan

Engaging vehicle branding.

There are countless marketing approaches you can employ for your taxi business. The taxi business involves the use of moving vehicles. That makes the actual vehicles a central feature of marketing. Have the vehicles colourfully branded with subliminal marketing content. People merely seeing the taxis passing by will have their subconscious minds conditioned.

Attending Strategic Events

The thrust is to attend events that can strategically generate leads for your taxi business. Examples of such events are trade shows, concerts, conferences, and the like. One way is to actually exhibit and showcase your taxi offerings, if possible. The other way is to simply be in the vicinity of such events. There is most likely always going to be people who will need your services.

Sponsoring Or Supporting Worthy Causes

Running a taxi business offers you easy ways to sponsor or support worthy causes. All it can take is you providing your taxi(s) for free for some event or cause. Your presence during that event or cause will draw so much attention to your taxi brand. You could also materially contribute to causes such as helping the underprivileged. Your association with notable events or causes is a potent marketing strategy. Remember, your taxi(s) being branded will be doing the work for you.

Internet And Social Media Initiatives

This should be at the core of the marketing plan for your taxi business. You must have a website and set up active accounts on social media. Use high definition visuals to draw people in. Regularly do online contests; these are highly effective in building your audience. All your social media initiatives should encourage word of mouth and referrals.

Another faster and more effective strategy is to work with social media influencers. Work especially with macro influencers (between 40000 and 1 million followers) and m icro influencers (between 1000 and 40000 followers). Such influencers are often characterised by highly engaged audiences.

Keys To Taxi Business Profitability

You are supposed to be big on quality in your operations. This refers to aspects such as cleanliness, timeliness, cordialness, and convenience. Customers will always settle for taxi businesses that have these qualities. That is why customers will not hesitate to switch to other taxi operators if you are lacking. Using vehicles with good fuel economy is a vital key to profitability in a taxi business. Regular servicing and using fuel from reputable sources also feeds into good fuel economy. This significantly reduces your operating costs. The first ever taxi service or business was started in 1897. It has been more than a century since then and taxis still continue to proliferate. This is because the market is inexhaustible. You can start your own taxi business today and still make significant money.

Pre-Written Taxi Business Plan (PDF, Word And Excel): Comprehensive Version, Short Funding/Bank Loan Version and Automated Financial Statements

For an in-depth analysis of the taxi cab business, we encourage you to purchase our well-researched and comprehensive taxi cab business plan. We introduced the business plans after discovering that many were venturing into the taxi transport business without enough knowledge and understanding of how to run the meter taxi business, lack of understanding of the financial side of the business, lack of understanding of : the industry, the risks involved , costs and profitability of the business; which often leads to disastrous losses.

The StartupBiz Global taxi transport business plan will make it easier for you to launch and run your meter taxi business successfully, fully knowing what you are going into, and what’s needed to succeed in the business. It will be easier to plan and budget as you will be aware of all the costs involved in setting up and running the taxi cab business.

Uses of the Taxi Business Plan (PDF, Word And Excel)

The taxi cab business plan can be used for many purposes including:

• Raising capital from investors/friends/relatives
• Applying for a bank loan
• Start-up guide to launch your taxi business
• As a taxi business proposal
• Assessing profitability of the meter taxi business
• Finding a business partner
• Assessing the initial start-up costs so that you know how much to save
• Manual for current business owners to help in business and strategy formulation

Contents of the Taxi Cab Business Plan (PDF, Word And Excel)

The meter taxi business plan include, but not limited to:

• Marketing Strategy
• Financial Statements (monthly cash flow projections, income statements, cash flow statements, balance sheets, break even analysis, payback period analysis, start-up costs, financial graphs, revenue and expenses, Bank Loan Amortization)
• Risk Analysis
• Industry Analysis
• Market Analysis
• SWOT & PEST Analysis
• Operational Requirements
• Operational Strategy
• Why some people in taxi cab business fail, so that you can avoid their mistakes
• Ways to raise capital to start your meter taxi business

The Pre-written taxi cab business plan package consist of 4 files

• Taxi Cab Business Plan – PDF file (Comprehensive Version – 71 Pages)
• Taxi Business Plan – Editable Word File (Comprehensive Version – 71 Pages)
• Taxi Cab Business Plan Funding/Bank Loan Version- Editable Word File (Short version for applying for a loan/funding – 42 pages)
• Taxi Business Plan Automated Financial Statements – (Editable Excel File)

The business plan can be used in any country and can be easily edited. The financial statements are automated. This implies that you can change eg the number of taxis, pricing rate per KM etc, and all the other financial statements will automatically adjust to reflect the change.

Click below to download the Contents Page of the Taxi Business Plan (PDF)

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Get the Taxi Business Plan (PDF, Word And Excel)

Click Buy Now  below to purchase using Paypal, Credit Card, or Debit Card. After you have purchased, you will immediately see the download link for the business plan package on the screen. You will also immediately get an email with the business plan download link. The Pre-written business plan package (PDF, Word, and Excel) costs $30 only!

If you want to purchase multiple business plans at once then click here: Business Plans Store.

The business plan package is a zipped compressed file containing the PDF, Word and Excel documents. To open the package after downloading it, just right click, and select Extract All. If you have any problems in downloading and opening the files, email us on [email protected] and we will assist you.

We wish you the best in your taxi business! Check out our collection of business plans  , and more business ideas .

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• Business Plan for Taxi Company

Business plan for taxi service

• how will you stay ahead of your competitors;
• how will you meet the needs of potential customers;
• how you will attract employees.

5 Important steps for developing a taxi business plan

• Define the business concept.
• Do a competitor analysis.
• Calculate the market capacity in your city.
• Calculate the costs of starting a business.
• Calculate the payback period of investments.

Step 1. Define the business concept

Step 2. do a competitor analysis.

• how much the services cost;
• how fast the vehicle is served;
• what vehicle are in the fleet: make, appearance, year of manufacture;
• how professional and polite the drivers are;
• whether the drivers like their working conditions;
• how customers are attracted;
• what channels are used to advertise services.

Step 3. Calculate the market capacity in your city

Step 4. calculate the cost of starting a business, step 5. calculate the expected profit and payback period, taxi business plan sample.

• We have been working in the taxi market for more than 20 years and have become real experts in our field.
• We help companies around the world to start a taxi business.
• We support customers at every stage of the launch.
• We regularly analyze the work of different companies and help them optimize processes.
• We implement technical solutions that allow our customers to automate their work and. successfully compete with major aggregators.

Taxi business plan sample pdf

• Description of the taxi company's business model;
• Calculation of the market capacity;
• Calculation of the initial costs;
• List of the initial expenses;
• Calculation of the return on investment and payback period;
• Information on how to attract customers;
• Information on how to attract drivers;
• Information about the automation of business processes in a start-up company.

Taxi business plan xls

Get a working taxi business plan template from taxi master.

• Business Ideas
• Registered Agents

How to Start a Taxi Business in 14 Steps (In-Depth Guide)

Updated:   March 13, 2024

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The global taxi market is growing considerably. In 2021, the market reached $215.35 billion and is projected to reach 464.26 billion by 2030. This means the market could continue to expand at a compound annual growth rate (CAGR) of 9.29% from 2021 to 2030.

As urban populations grow and citizens seek affordable, convenient transportation, starting a taxi service can be a profitable business venture. Taxi companies rely on name recognition and quality service to earn repeat customers. With low startup costs compared to other transportation businesses, the taxi industry remains accessible for aspiring business owners.

This guide will explain how to start a taxi business. Topics include market research, competitive analysis, registering an EIN, obtaining business insurance, and creating an official business entity. Here’s everything you need to know about starting a taxi business.

1. Conduct Taxi Market Research

Market research is an important part of starting your own taxi business. Research provides insight into the best taxi booking app, how to price your taxi cab business and other details for your business model.

Some of the market research you’ll learn about your private taxi company includes:

• The taxi industry consists primarily of three segments: yellow cabs, private sedans, and app-based ride-hailing.
• App-based services like Uber make up the remaining 28%.
• New York City alone sees over 500,000 daily taxi rides.
• The taxi customer base includes both business and leisure travelers looking for quick and easy rides around town.
• Business travelers are especially lucrative, spending an average of $550 per month on taxis.
• Airports also provide steady taxi revenue, with 70% of airport traffic traditionally using cabs for ground transportation.
• While app-based services now dominate airport pickups, taxis are regaining market share by implementing their own apps and electronic booking.
• The taxi industry is a fragmented market with 97% of companies operating ten vehicles or less.
• Ongoing expenses average $150 per day for insurance, gas, maintenance, and licensing.
• To be successful, new taxi companies must focus on customer service and speed.
• Reliability, safety, and cleanliness are top priorities for riders.
• Creative promotions like loyalty programs and referral bonuses also help attract repeat business in competitive markets.

In summary, the growing demand for flexible urban transportation and low barriers to entry create an appealing opportunity for entrepreneurial taxi startups. Niche markets by geography and customer segment provide options to secure market share against app-based and legacy competitors.

2. Analyze the Competition

Understanding the competitive landscape is crucial when launching a new taxi company. Conduct an in-depth analysis of established operators and app-based services in your target market.

Some ways to investigate competitors as a taxi cab service include:

• For traditional taxi competitors, identify the major brands and fleet sizes.
• Visit cab stands and airports to observe how many taxis each company has operating.
• Research their customer reviews and ratings online to evaluate service quality.
• Gauge price points by getting sample fare quotes. Analyze their marketing messages and brand personalities as well.
• App competitors like Uber and Lyft, sign up as a driver to understand their technology and economics.
• Check customer feedback on app stores to assess satisfaction.
• Search media coverage about market share and growth projections.
• Monitor driver forums to learn about reputation and risk areas.
• Online review sites like Yelp provide visibility into customer sentiment across competitors.
• Search engines reveal the SEO strength of each brand based on web page rankings.
• Social media listening can uncover real-time conversations and perceptions.
• Size up potential advantages your startup may have over incumbents. Look for gaps in service quality, technology, or customer experience to exploit.
• Seek niche segments or territories competitors are overlooking.
• Analyzing competitors gives insights that will shape your business and marketing plan.
• Use SWOT analysis to identify market threats to defend against and opportunities to pursue.
• Competitor intelligence informs pricing, service offerings, vehicle types, and geo-targeting.
• Ongoing monitoring lets you keep ahead of industry changes after launch.

Vigilant competitive research ensures your taxi startup is strategically positioned. Target underserved customer needs, emphasize your differentiators and mitigate competitor threats. Entering the ring prepared gives your business the fighting chance it needs to win.

3. Costs to Start a Taxi Business

Starting a taxi company involves both initial investments and ongoing expenses. Carefully projecting costs is crucial for securing financing and operating successfully.

Start-Up Costs

• For an individual cab, plan on $25,000-$35,000 for a new minivan or crossover SUV.
• With a small fleet of 5 cabs, costs can range from $125,000-$175,000.
• Next is licensing and insurance, which varies by state and city regulations. Liability insurance runs $9,000-$15,000 per vehicle annually.
• Administrative fees also add up with new taxi companies. Business licenses and permits average $500-$1,000 depending on location.
• Accounting software like QuickBooks is around $200 for setup. A commercial phone system for dispatching can be $1,000.
• Outfitting cabs with meters, signage, radio equipment, and GPS costs approximately $3,000 per vehicle.
• A basic website for customer bookings would be around $1,500.
• Other startup costs may include an office lease at $1,000-$1,500 monthly.

Total start-up costs for a single taxi generally run $20,000-$25,000. For a small 5-cab fleet, expect around $60,000 in startup costs. Expenses scale higher with larger fleets exceeding 50 vehicles.

Ongoing Costs

Once up and running, taxi companies face a variety of recurring monthly and annual expenses.

• Fuel averages $300-$400 per cab monthly. Maintenance and repairs run approximately $200 per vehicle each month.
• Cab replacement occurs every 3-5 years, incurring another $25k-$35k investment per new vehicle.
• Insurance remains a major necessity, costing $750-$1,250 per cab monthly.
• License renewals typically happen annually at around $300 per taxi.
• Personnel is another primary expense. Dispatchers average $15/hour, costing $2,000-$3,000 monthly. Drivers may be employees or independent contractors.
• Those choosing hourly wages cost around $3,000 per driver based on $15/hour.
• Office rentals, utilities, phone, and Wi-Fi amount to roughly $2,500 per month.
• Accounting and legal services are about $500 monthly.
• Marketing budgets range from $300-$500 monthly for digital ads and promotions.
• Miscellaneous expenses like payroll fees, supplies, fees, and taxes add up to around $1,000 each month.
• For a single taxi, average monthly costs are approximately $5,000 including insurance, licensing, personnel, fuel, repairs, office expenses, advertising, and more.
• Annual costs can reach $60,000-$70,000.
• With a 5 cab fleet, monthly expenses scale to around $25,000 covering the above costs times 5 vehicles.
• Overall annual costs for a 5-taxi operation average $300,000-$350,000.

Carefully estimating both start-up and ongoing costs ensures taxi businesses remain lean and profitable. Update projections as fleet size, staffing, and scope evolve. Financial diligence is fundamental to running a successful transportation company.

4. Form a Legal Business Entity

When starting a taxi company, one of the first legal decisions is choosing a business structure. The four main options each have advantages and drawbacks to consider.

Sole Proprietorship

A sole proprietorship is the simplest as it’s essentially you as an individual operating the business. However, it offers no liability protection as you’re personally responsible for all debts and lawsuits. This high risk makes sole proprietorships inadvisable for taxi businesses exposed to accidents and injuries.

Partnership

Partnerships allow two or more owners to share control and liability. A general partnership still exposes all partners fully while a limited partnership protects silent partners. Overall, partnerships can get complicated with profit/loss allocations and disagreements between partners.

Corporation

A corporation provides limited liability for shareholders but requires formal management and reporting. The tax structure is less advantageous for small businesses as income is taxed at both the corporate and shareholder level. Overall, the formality and regulatory requirements make corporations unrealistic for most taxi startups.

Limited Liability Company (LLC)

An LLC (Limited Liability Company) combines pass-through taxation with liability protection for members. Profits and losses pass directly to each owner’s returns. An LLC shields personal assets from business liabilities and debts. Ownership can be easily transferred with fewer formalities than a corporation.

5. Register Your Business For Taxes

One of the first legal steps when starting a taxi company is obtaining an Employer Identification Number or EIN from the IRS. This unique number identifies your business for tax purposes similar to how your Social Security number identifies you as an individual.

An EIN is required to open a business bank account, apply for licenses, hire employees, and file taxes for your company. Sole proprietors can use their SSN but should still get an EIN to keep personal and business finances separate.

The good news is applying for an EIN is a quick and free process that you can complete online via the IRS website in just minutes.

Simply provide your personal identifying information, business name, address, and taxation details. Choose the type of legal business entity you formed. Specify if you plan to hire employees or operate multiple businesses under the EIN.

Once submitted, your EIN will be provided immediately. This number should be included on all applications, tax documents, and other financial records for your taxi business.

In addition to your federal EIN, you’ll also need to register with your state taxation department for sales tax collection. The application process is similar to the EIN and can also be completed online in most states.

Sales tax registration enables you to legally collect and remit sales tax on taxi services provided in your state. It may also require filing regular sales tax returns. Check your state taxation department website for specifics.

Obtaining an EIN and sales tax registration are simple processes that add legitimacy and compliance to your taxi business. With your official tax numbers established, you can confidently move forward with vendors, licensing, hiring, and daily operations.

Failing to register your business properly may lead to fines, vehicle repos , or full closure, so make sure everything is in order.

6. Setup Your Accounting

Proper accounting is crucial for taxi companies to track finances, comply with taxes, and prove legitimacy if audited. Investing in accounting software, working with an accountant, and separating business and personal finances will set up your company for success.

Accounting Software

Begin by getting small business accounting software like QuickBooks to manage all financial transactions. Quickbooks integrates with bank accounts to automatically import income, expenses, invoices, and payments. It generates reports for profit/loss statements, balance sheets, payroll, and taxes. Quickbooks makes accounting a breeze with automation while giving you control over the numbers.

Hire an Accountant

Consider hiring an accountant to handle bookkeeping, payroll, quarterly taxes, and year-end filings. They can provide consulting on maximizing deductions and setting up ideal accounting workflows specific to taxi businesses. Expect to invest around $200-$500 monthly for full bookkeeping services.

At a minimum, engage an accountant annually to prepare your business tax returns. Rates average $500-$1,500 to file your Schedule C, payroll returns, and other tax documents. Their expertise saves money in the long run by ensuring full compliance and avoiding tax penalties.

Open a Business Bank Account

Be sure to separate all business finances into dedicated accounts. Obtain an Employer ID Number (EIN) from the IRS to open a business bank account. Fund it exclusively with taxi company income and pay for all expenses from there.

Apply for a Business Credit Card

Also, apply for a small business credit card using your EIN. Business cards don’t rely on personal credit scores and have higher limits to handle larger purchases. Make all taxi-related purchases on this card exclusively.

7. Obtain Licenses and Permits

Before operating any taxis, your new company must get approved for all relevant licenses and permits. Obtain federal license information through the U.S. Small Business Administration . The SBA also offers a local search tool for state requirements.

One of the first steps is obtaining a vehicle-for-hire license from your state regulator or local taxi commission. This business license proves you are registered and approved to transport passengers for a fare. Requirements and fees vary but expect to submit your business plan, insurance, vehicle info, background checks, and more.

Vehicle permits or medallions specifically authorize each cab to operate. Major cities like NYC and Chicago have a limited number available for purchase or lease. Expect to pay tens if not hundreds of thousands per medallion. Less restrictive cities still require annual permits per taxi typically costing a few hundred dollars each.

Your local municipal office can provide a general business license to operate within city limits. Fees range from $25 to the hundreds. Some cities may require additional permits related to ground transportation providers.

Commercial auto insurance is mandatory, with minimum liability limits of $100k property damage and $300k bodily injury per incident. Higher 100/300 limits or supplemental policies should be considered given taxi accident risks. Expect $150+ monthly per vehicle.

The FAA requires aircraft radio licenses for two-way dispatch equipment in taxis. The application involves proving you have appropriate frequencies allocated. The license costs around $150 and must be renewed every 10 years.

Taxi drivers themselves will need commercial driver’s licenses (CDL) in most states. Options include a full CDL, taxi limited license, or standard license with a for-hire endorsement. Renewals happen every 4-8 years.

Any independent contractors you use must carry adequate rideshare insurance on their vehicles with state minimum liability coverage. Avoid legal exposure by confirming their active coverage.

8. Get Business Insurance

Operating a taxi business without proper insurance opens you to massive risks that could bankrupt your company. Accidents, lawsuits, property damage, and employee claims could all destroy an uninsured business.

For example, a major car crash by one of your drivers that injures passengers could result in hundreds of thousands in medical bills and legal claims without protection. Or an electrical fire that destroys your garage and vehicles would cost tens of thousands to recover from uninsured. Even a minor slip-and-fall by a passenger in your office could lead to legal action.

The good news is obtaining business insurance coverage can shield your company from these threats. Start with a commercial auto policy that covers liability, collision, uninsured motorists, and passenger medical. General liability insurance protects against third-party claims of injury, property damage, and more.

You may also want commercial property coverage for your office, dispatch equipment, and other assets and business interruption insurance to replace lost income if forced to close. Workers’ comp is required if you have employees. An umbrella policy provides additional liability coverage above your base limits.

Expect to budget $150-$400 per vehicle monthly for a full commercial taxi insurance plan. However, this small ongoing expense can save you from utter financial devastation if the worst happens down the road.

9. Create an Office Space

Having a dedicated office provides legitimacy and gives taxi businesses a central base for dispatching, meetings, and administrative work. The right office setup supports daily operations and customer service.

Home Office

A basic home office is the most affordable option starting around $200 for a desk and supplies. It works for sole owners doing sales and promotion from home. However, home offices lack space for dispatchers and have less professionalism for meetings.

Coworking Office

Coworking spaces like WeWork provide amenities like WiFi, conference rooms, and front desk staff for $300-$500 monthly. The flexible terms and networking can benefit small taxi startups. However, coworking lacks parking for taxis and has noise that could disrupt dispatch calls.

Retail Office

Retail office spaces in shopping plazas start around $1,000 monthly. The street visibility and walk-in traffic aid marketing efforts. Retail offices also give easy access to taxis and customers. The downsides are costs, business hour restrictions, and longer leases.

Commercial Office

Classic commercial office spaces offer the most room with dedicated buildings and ample parking. Expect $1,500-$2,500 monthly for spaces accommodating dispatch stations, taxis, meetings, and parking. However, commercial spaces require long leases and offer few amenities.

10. Source Your Equipment

From cars to meters, new taxi companies need to acquire essential equipment to get up and running. Smart sourcing saves money while meeting operational needs.

For the latest models with full warranties, purchase vehicles, and gear directly from manufacturers and authorized dealers. Expect to pay MSRP or slightly below for sedans like the Toyota Camry, minivans, and light SUVs ideal for taxi use. Meters, signage, radio equipment, and other accessories are also available now.

Buying Used

Save over 50% by buying quality used vehicles with 50k-75k miles from dealers, auctions, or private sellers. Facebook Marketplace , and Craigslist list reliable used taxi models like retired Crown Victorias, Camrys, and Odyssey vans discounted to $5k-$15k. Scour taxi auctions and dealers for used meters, radios, and other gear.

Renting vehicles lets you test models before purchasing a whole fleet. Rental costs range from $300-$500 weekly for common taxi vehicles. Short-term rentals of dispatch equipment, meters, and two-way radios are also available from specialty providers for a few hundred a month.

Multi-year leases allow you to operate new vehicle models for a fixed monthly fee averaging $300-$600 over 2-4 years. Maintenance and roadside assistance are often included. Leasing provides reliability without large upfront purchases. Refurbished meters and hardware can also be leased affordably.

11. Establish Your Brand Assets

Creating a strong brand identity is crucial for taxi companies to stand out from the competition and build recognition. Investing in branding builds customer trust and boosts marketing efforts.

Get a Business Phone Number

Acquire an official business phone number through a service like RingCentral to enable professional communications. Choose a local area code and a dedicated line to convey legitimacy versus using a personal cell. Expect to budget $25-$50 monthly for a hosted business phone with call routing and voicemail services.

Design a Logo

Design a sleek logo and brand identity that instantly identifies your taxis and marketing materials. Consider iconic symbols and color palettes that connect to your location. A bold, minimalist logo works for taxi brands versus overly complicated images. Use a service like Looka to develop concepts digitally for $20-$50 per design.

Print Business Cards

Business cards featuring your logo, phone number, and dispatch info make introductions and referrals seamless. Hand these out at local events and hospitality businesses to aid marketing. Vistaprint offers affordable printing of 500 basic cards for $20.

Buy a Domain Name

Secure a domain name that matches your taxi brand for a professional online presence. Short .com addresses from Namecheap convey expertise. Expect to budget $10-$15 annually for domain registration.

Design a Website

Build a one-page website detailing your services, booking options, and phone number. Use a drag-and-drop site builder like Wix for easy DIY creation or hire a freelancer on Fiverr for $200 to design the site. This digital home solidifies your legitimacy.

12. Join Associations and Groups

Joining local business groups and online communities provides invaluable connections when starting a taxi company. Take advantage of these networking opportunities for insider advice and customer referrals.

Local Associations

Research associations like the Taxicab, and Limousine & Paratransit Association offer national conferences, regulatory advocacy, and fleet insurance programs. On the local level, chambers of commerce and transportation associations facilitate networking events and lobbying efforts.

Local Meetups

Keep up with trends and expand your network by attending regional taxi and ground transportation meetups. Use sites like Meetup to find regular gatherings of fellow business owners, drivers, and vendors.

Facebook Groups

Dozens of Facebook groups connect taxi owners globally. Search for established communities like Global Taxi Driver Group and join relevant local groups like NYC Taxi Cab Enthusiasts & Owners to tap collective insights.

13. How to Market a Taxi Business

Implementing ongoing marketing is essential for gaining new taxi customers and growing your company. Leverage digital campaigns, real-world promotion, and customer referrals to build your brand.

Personal Networking

Start by tapping your inner circle for referrals to friends, family, and colleagues. Offer free or discounted rides to first-time customers sent your way. Satisfied passengers will organically spread the word about your service if treated well.

Digital Marketing

Digital campaigns provide affordable access to local customers. Consider:

• Google Ads geo-targeting local keywords like “taxi near me” and your city name. Expect to budget $100-$300 monthly. Track phone call conversions.
• Facebook and Instagram ads focused on area residents. Target based on location, demographics, and interests. Budget $50-$100 monthly per platform.
• Search engine optimization to rank highly for “taxi/cab + your city” searches. Research tactics or hire an SEO consultant.
• Email collection via your website to send promotions and build loyalty. Offer discounts for email signups. Send regular updates and coupons to subscribers.
• Getting customer reviews on Google, Facebook, and Yelp highlighting your service quality and professionalism.

Traditional Marketing

Traditional approaches also aid visibility:

• Vehicle signage and wraps are seen throughout your region while in service. Gets name recognition.
• Business cards and flyers at hotels, restaurants, and airports to catch potential riders. Focus on concierges.
• Airport carousel ads drive business from travelers. Costs range from $100-$300 per month based on impressions.
• Radio spots on local stations for brand awareness. Expect to budget $500+ monthly depending on frequency.
• Chamber of Commerce networking for corporate accounts. Cater to business travelers.
• Direct mail postcards to households announcing new services or promotions like discounted first rides.

Mix digital, print, networking, and other tactics to attract customers. Track response rates and refine strategies over time. Marketing done properly delivers continual growth.

14. Focus on the Customer

Providing excellent customer service is crucial for taxi companies to earn repeat business and referrals. Given the competition, focusing on rider satisfaction and great experiences builds loyalty.

Some ways to increase customer focus as a profitable taxi business include:

• For example, ensure vehicles are clean and comfortable. Greet passengers warmly and politely confirm their destination.
• Avoid phone calls or conversations with other drivers during the ride. Ask if the temperature or radio station needs adjusting.
• Thank riders as they exit and offer to assist with bags or other cargo.
• Follow up via email with first-time customers to see if their rides met expectations.
• Send the occasional coupon to frequent patrons to show appreciation.
• Train staff and drivers on ideal service standards.
• Empower them to address complaints and remedy issues.
• Monitoring online reviews lets you identify and improve upon friction points.
• Satisfied customers become vocal champions for your brand. They will specifically request your company over competitors for future rides.

With commoditized offerings like rides, customer service stands out. Small gestures like bottles of water, mints, and charging cables surprise and delight. When riders feel genuinely cared for, you earn their loyalty for the long haul.

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March 1, 2024

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• Business Plans Handbook
• Business Plans - Volume 05
• Taxi Service Business Plan Business Plan

Taxi Service BUSINESS PLAN

LAKEVIEW TAXI

27000 Kingsborough Ave. Toledo, OH 32311

This businsess plan presents a persuasive and innovative system for organizing and running an alternative taxi service. An entrepreneur with a new improvement on a traditional business will find this plan's clear logic instructive. Note the comprehensive overview of industry practices and their shortcomings.

MISSION STATEMENT

Business orientation, marketing plan, attracting customers, company organization, proposed method of financing, revenue and cash flow projections, start-up costs, financial data.

The mission of Lakeview Taxi is twofold. The first mission is to serve the general public in a fair and honest way. The second is to do this from a Christian perspective. While performing these tasks, it is hoped for and expected that a decent profit will be gathered from our efforts. There are many problems with the current taxi organizations in existence and it is hoped that by adding an alterantive to the services out there, the public will really appreciate our efforts.

The business of Lakeview Taxi will be transportation. Not just taxi service, but package delivery and other types of transportation such as Go Bus (a federally sponsored program) and even Ambucab (transportation on for the elderly) type services. The taxi service will be located in Toledo, Ohio in an office located on South Williams avenue.

Demographics

The amount of taxi business in the Toledo area is strong and growing. The population in the greater metropolitan area exceeds 500,000 people and the community is dynamic and getting more vibrant with each passing day. The entire area has a low unemployment rate, a diversified economy, and wonderful year round events which attract tourist dollars and people to the region.

Customer Profile

A taxi comapny attracts two main types of business. The first type is a commercial charge account business, and the second is direct consumer business. The commercial accounts usually have either package delivery or pay for passengers as their main function and are usually charge accounts. The direct consumer accounts are people from throughout the city who need taxi service for various reasons, to run errands, get to work etc. Consumer accounts are usually cub accounts and payable immediately. The customer never comes to the place of business of the taxi service, all taxis are dispatched to the customers place of business and the sole representative view that the customer has of the taxi service is through the cleanliness of the vehicle and the driver, and the promptness of their response. Any value added services just enhance these basic considerations of the customer.

Need for Services

There is a pressing need for reliable public transportation in the Toledo area, Bus service is not a viable option for many people due to the limited scope of operation of bus service in the area. The buses here do not run very long during the day and they are very restricted as to routes and times during the weekend and off-peak times. As a result, public transportation is always needed for those whom the bus cannot serve.

Economic Factors

Not only is there a strong and growing industrial base in the region, the city has been quietly developing the downtown area for quite some time. New projects are being planned and built daily and the entire downtown property is expanding at a very fist rate. In the last ten years, there has been an explosion of new venues which have attracted people to the downtown area. 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. A state-of-theart cancer research center is also being developed in addition to the world's first mall for children. Toledo is a city of opportunity and that expansion and growth fuels the need for more reliable transportation.

Competition

There are currently three other taxicab companies in the area. Each company is severely flawed and yet still manages to generate incredible amounts of revenue. Only one company, Maumee Taxi, the largest one, could be considered serious competition. This firm is prosperous and quite skillful at handling large numbers of clients. They currently have 56 taxis in their fleetand have most of the prestigious accounts in town. The other two companies still manage to thrive in spite of the fact that they have much smaller income bases and essentially are driving outdated equipment in poor condition. During busy times, none of the companies can keep up with demand and customers have been known to wait for up to four hours. During normal operating scenarios, wait times still range from approximately twenty to thirty minutes. This wait time is unnecessary and quite destructive to customer support. Taxi companies typically do not fail in this area. Other cities have a higher turnover of taxi companies, but they usually have a much larger presence. Metro Columbus has a population base of one million and 14,000 cabs. Toledo has a population base of 500,000 and 150 cabs. That is quite a difference. The reason for such a large spread is that Toledo is an affluent area and taxi service is not as pressing as in the impoverished areas surrounding Columbus. Another reason is that only recently has Toledo developed a significant downtown business. As the downtown continues to develop, taxi service will be required to increase exponentially.

The current image of a taxi driver in Toledo is not a pleasant one. Drivers are looked at as unprofessional and discourteous. One reason that this is true is the nature of the business. Most taxi companies operate in the best and the worst areas of town and drivers have to deal with a wide variety of people. The drivers that are hired are not professional and are given virtually no training before they are sent out to deal with the public. Lakeview Taxi can change that. Training costs can be reduced through an apprenticeship program. Drivers can ride with several drivers and learn all of the necessary skills without incurring a large cost. In addition, training materials can be written down and provided at the start of training and a simple test can be administered to gauge the skills obtained by the driver. Knowledge of the city, command of the English language, and knowledge of charge account operations would go a long way towards improving the basic professionalism of the driver. Uniforms which are both comfortable and easy to maintain would also strive to complete the look that the public deserves and should expect. Of course, cleanliness of the cars is a must. A monthly inspection of vehicles would eliminate a large number of problems associated with operating a fleet and would ensure that the licensing authority would not bother with inspections of their own. We can control the image of Lakeview Taxi and it is possible to do so with a minimum of intrusiveness.

Pricing is fixed by the city using regulated meters. Prices can fluctuate when the city council votes for a meter rate increase. Increases are usually annual and as a result, meter errata are high in the Toledo area and need minimal adjustment. The only meter problem would actually be the problem associated with metered waiting time. A factor that could be adjusted quite easily. Flag drop is currently 1.65 and the rate is then .17 per click every 1/9th of a mile. This rate is quite reasonable and is a good value to the customer as well.

Most taxi companies currently do not offer to take major credit cards. This is a huge mistake and there are a wide range of people who would use taxis more if this simple problem could be eradicated.

Customer Service

Customer service is a priority at Lakeview Taxi. The customer cares most about the promptness of the taxi that he or she is riding in. One way to ensure that customers would be served in a much better fashion would be to implement a zoned taxi dispatch system. A zoned system is essentially a first come/first served system of dispatching that eliminates much of the delay that occurs during ordinary dispatching. There are no real drawbacks to the system except that it would take a short while for drivers to get used to such a system. It is the quickest and easiest way to operate a taxi company. 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. It also means that orders are much more selective. Selecting a specific order is fine for the the driver, but it is a slow process that inconveniences the customer. If the drivers were switched over to a different system, in the long run, they would actually make more money and the entire system would speed up immensely.

Advertising

Advertising is minimal in the taxi service business, but could be maximized with the use of a little creativity. Currently a yellow page ad listing is the only necessary requirement to generate business. Many customers will immediately try the new taxi company in town to see if it has a faster response time than the other services in the area. Other people will try the new service if favorable word-of-mouth advertising is received. A large pool of customers is always available for a new company to have. In fact, most services that start up actually have a problem keeping up with the large volume of orders that come with just opening the doors to business. That pattern has repeated itself with each new taxi business that has developed within the last ten years.

Customer lncentives

Customers could be lured to try a new company by the use of incentives. It is illegal to charge more than the regulated price on taxi fares. It is not illegal to give a discount for first time riders of the service and it would strongly enhance repeat business to do so. Also, customers could be lured by giving away an occasional free ride or by using coupons distributed in the Advance Newspaper or the Toledo Press. These coupons could also be distributed in the taxis themselves as any driver who had a passenger could pass one out and any driver who did not have a fare could stop at local businesses and pass them out. That technique has been tried before with amazing success. However, as soon as the taxi company gets a steady base, all sales activity seems to stop. The company starts to generate sales so high they cannot handle the volume. In fact, most new companies lose business because they are too successful.

A satisfied customer in the taxi business will stay with that company for a long period of time. Sometimes as long as twenty years. Once a customer is satisfied, it is hard to get them to switch companies. Any measure of reasonable success recognizes that the repeat or "regular" customer is the one we all strive to get and maintain. There are a lot of ideas that have not been implemented simply because the business is so strong in this area. Hotels are constantly asking that cabs service them and hotels need shuttles for their overnight guests. A taxi company that catered to this market would do extremely well.

Additional Sources of Revenue

Even though taxi companies are by and large successful, they could be made even more so by adding additional revenue streams. Taxis can be painted with advertisements and turned into independent marketing venues of their own. Drivers could pass out flyers and could direct customers to certain establishments that had a reciprocal relationship with the company. Value added services could include food deliveries and other types of deliveries that other companies make on a routine basis. The horizon is truly unlimited when it comes to the taxi business. A little creativity would go a long way in furthering that horizon.

OPERATIONS: ADVANTAGES OF TAXI BROKERING

Taxi brokering is a unique concept. It allows drivers to own their own vehicles and operate them in a manner consistent with the company's policies and procedures. The standard practice for most taxi companies is to have each driver be an independent contractor and not an employee. The IRS has upheld this practice as standard in the industry. Many times, however, a taxi company and other companies treat their independent contractors as employees and they expose themselves and their company to massive tax liability if a tax ruling should happen to go against them. This is not wise policy, but it certainly exists in most taxi companies in the United States. There is a way to avoid liability and yet still maintain reasonable control over the drivers through applying the principles of taxi brokering. When a driver owns his or her own vehicle, there is an enormous savings to be had at all levels in the company. The advantages are spelled out below.

Overhead is reduced enormously when the company does not have to own and operate a fleet of vehicles. The savings on maintenance costs alone justifies using this tactic. In addition to direct cost savings, there is an operation personnel cost savings as well. There is no need for mechanics, no need for a scheduler, in fact, office staff can be reduced to a point where it is almost not necessary.

Controlling Turnover

The high turnover rate that plagues the industry is entirely avoided. Brokers are responsible for procuring their own drivers and even if it becomes difficult for them to locate drivers, the broker simply works more time during his shift to make up the difference. Almost allpersonnel problems are avoided when utilizing brokers.

Shifting Ownership Burden

Brokers take care of their own vehicles. There is no hassle associated with keeping vehicles on the road and no responsibility for ensuring cleanliness. That burden is borne entirely by the broker and most brokers in the past have shown that they have a high regard for their vehicles and they have every reason to keep them running and in good condition. In fact, inspecting the fleet becomes much easier for management when they do not have to attend to the myriad of other details that goes into running a company-owned fleet.

Better Drivers Result

Brokers tend to be careful drivers. It is their equipment, so they tend to treat it more carefully and have a better understanding of any drivers that they hire to work under them. As such, insurance rates will eventually go to show that careful drivers translates into lower costs for everyone involved. Further, insurance costs can also be minimized by reducing the collision coverage for vehicles. Part of the operational costs paid for by the brokers could be used to maintain a collision fund to help pay for repairs when needed while greatly reducing insurance costs, which shall be discussed in further detail shortly.

Fees Minimized

Because brokers help so much to reduce costs across-the board, operational fees (the cost charged to the broker on a daily or weekly basis) can be reduced to an absolute minimum. This ensures that most brokers will succeed in their investment and will have an added incentive to add taxis at their earliest opportunity.

Rotating Dispatch System

With brokers acting as owner-operators, another unique opportunity presents itself for use, that of eliminating a paid dispatch system. Since brokers are experienced drivers and have an investment in the company, they can be utilized as dispatchers for the company. Once again, the cost savings are substantial and using brokers as dispatchers is a good way to promote a solid working relationship among the members of the company. Teamwork is a foreign concept to many drivers now working under exploitive conditions. Having brokers dispatch taxis while using a zone system is not only workable, but more equitable to the drivers because it reduces the possibility of corruption and gives them an opportunity to be continuously trained in all facets of the business.

The company shall be organized with the president of the company overseeing total operations and the vice-president or operations director handling administrative duties. There may or may not be office personnel to contend with, but that will all be handled administratively by thevice-president or operations director. There is no need for mechanics, dispatchers (if using rotating dispatch set-up), or schedulers. All of those duties would be eliminated by the change in company structure resulting from using a brokered system..

Conventional bank financing seems likely due to the collateral that can be presented as security for the loan. This loan security should be enough to get the financing necessary to fund the startup. In the unlikely event that it does not, a private stock distribution could provide for optional financing.

Operational Fees and Their Impactand

The revenue from taxi operations is relatively easy to project. All revenue is based on one factor, the operational fee charged to the brokers. The initial figure given for start-up purposes is $250.00 per week per vehicle to be paid on a daily $50.00 basis for five days. This is $90.00 a week less than all of the other companies in town and is highly competitive. Not only that, but since the fleet would be comprised entirely of brokers, this fee could be adjusted downwards from the first day of operation. When brokers in other companies see lower fees at Lakeview, they will be inclined to bring their cars over. Any time fees were further lowered, a ripple effect would be likely to occur and make bringing over brokers from other companies highly likely. Because the competition could not compete with these lower fees due to their much higher cost structure, they would be placed under tremendous pressure just to continue operations. Bringing over brokers would also mean automatically attracting more customers as some drivers bring with them a certain volume of customers. There is no telling how low operational fees could go with enough volume.

Revenue Formula

The revenue formula for Lakeview Taxi is as follows:

$250.00 x number of vehicles x per week = total revenue per week

The competition (one company) is currently running 56 taxis in the Toledo area. Using the above formula, we arrive at a revenue of $14,000.00 per week, or $56,000 per month, or $728,000.00 per year. Even though the start-up number of taxis would be closer to 10 vehicles, there is still a weekly gross profit potential of $2500.00 or $10,000 per month. Given Toledo size and potential development, it could easily support a taxi fleet of 300 or more within five years. The potential is there and growing every day.

Cash flow in a taxi company is good. The revenue is dependable and stable and is affectedby only a couple of problems. One is that some cars have to be given downtime to help with time spent off of the road. Usually only a token amount is collected. This is a minor factor, but worth mentioning from a cash flow standpoint. This factor is mitigated somewhat by the way fees are charged. Because they are due on Friday for the previous five days, weekends are always free for drivers and many would see that time as an ideal opportunity to effect repairs on their vehicle. Of greater concern is the charge account problem. Drivers and brokers alike are used to receiving their money or credit for charges right away while the charge accounts sometimes have a thirty or sixty day turnaround. This problem could be solved or lessened in one of several ways. Those ways are examined below:

Customer Charged

Charge customers could be assessed a fee for the extension of credit by the taxi company. Extending credit is not as necessary as in the taxi business as in some industries; however, a significant portion of package revenue does come in the form of charge accounts, so it is useful to a degree. The fee could be nominal, in the 5% to 10% range for most customers. This money would be placed in a pool to fund payout to brokers and drivers.

Broker Charged

Brokers could be assessed a fee ranging from 10% to 15% of the charge and that money could be used in the same pool as the one described previously, giving the charge pool a combined rate of 15% to 25%. This pool would be self-financing and would soon build up an incredible reserve of equity in the company. Not only that, but interest derived from the pool could be used as an additional revenue stream down the road. Charges would, out of necessity, have to be small at first and build volume as the fund pool grew of its own accord.

Delayed Payment

Charges could be delayed pending payment by the customer. This would be the most unattractive option since the paperwork generated and the broker dissatisfaction would work against this option. A legitimate argument could be made for delaying payment, but this would likely become a contentious issue if presented.

Despite the problems just presented, for the most part, cash flow is easier to manage in this business than in many others, and cash flow at Lakeview Taxi would help get the business launched and running with almost instant revenue at start-up.

Added Revenue

An additional source of revenue at start-up is the down payments brokers must make to place vehicles on the road. Brokers are currently paying $2000.00 per vehicle at the competition to put a car on the road. These down payments are supposed to cover insurance, cost of radios and meters, and miscellaneous expenses. The fact of the matter is that this is an additional source of revenue for the company at start-up because the costs associated with placing a vehicle on theroad are often much less than what is charged to the broker.

The start-up costs for running a taxi company is high for several reasons. These reasons are explained in detail below:

Insurance : This is the highest cost factor involved in running the taxi company and the greatest hindrance in getting started. Taxis are usually insured at a rate high enough to account for a weekly charge. Taxi insurance is hard to obtain and is billed at between $60.00 and $100.00 per week to the company. This type of coverage is not even first class insurance, as the market for this type of insurance is so small. Other companies' careless use of taxi insurance has lead to the high rates. It is a challenge coming up with the premium down payment, which is usually set at around 20% (partially offset by broker down payments) of the total annual policy. Once insurance is obtained, however, the Lakeview Taxi system would eventually drive rates down in regards to our particular company due to the careful screening and other safe driving incentives mentioned earlier. Still, the obstacle is formidable, but not insurmountable.

Licensing : The cost of licensing is roughly $3000.00 per year and is not a problem if all of the taxis are painted and equipped for inspection.

Office Costs : Would be minimal. The customer never sees the office and therefore the primary consideration for space is simply a location with plenty of parking. The cost for space like the type that is being described here would be roughly $1000.00 per month.

Radios : This cost would also be borne by the broker at start-up, and would be minimal for the company.

Tower and Frequency Allocation : Would be minimal due to the fact that all tower operators wish to have their radio equipment purchased and will cut down the cost of tower space for exclusive purchasing of their equipment.

Meters : Are paid for by the brokers and installed by a servicing company. The meters are then set at a rate determined by the city.

Miscellaneous Costs : Will be estimated and broken down separately.

The following financial data is presented as basic information and is not as complete as that following a financial audit by a certified professional. Please bear in mind that the data presented is only an estimate.

Lakeview Taxi is a viable service company that could provide great benefits to the city and generate large profits for the owners. It is completely possible to start this business with a small investment and produce large returns soon after its inception. The writers of this plan urge you to review the following information and if there is any that you feel is incomplete or inexplicable, please bring it to our attention. We can provide for transportation needs of the city not only now, but in years to come. Thank you for taking time to review this plan.

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Taxi or cab driver Business Plan : free template

This article presents the key elements of the business plan for Taxi Ltd, a dynamic and innovative taxi service company. With a strong focus on customer satisfaction, cutting-edge technology, and efficient operations, Taxi Ltd aims to revolutionize the transportation industry and establish a prominent presence in the market. The article covers various sections, including the executive summary, product and service overview, market analysis, marketing and sales strategy, the management team, and financial forecasts. By outlining these crucial aspects, Taxi Ltd aims to showcase its strategic approach, unique offerings, target market, competitive advantage, growth opportunities, and financial projections

Need help with your business plan or forecast?

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Taxi or cab driver Business Plan: executive summary

The following executive summary outlines the comprehensive business plan for Taxi Ltd, a dynamic and innovative taxi service company. This document provides a condensed overview of our strategic approach, target market, competitive advantage, financial projections, and growth opportunities. With a strong focus on customer satisfaction, cutting-edge technology, and efficient operations, Taxi Ltd aims to revolutionize the transportation industry and establish a prominent presence in the market.

Market Analysis:

Our analysis of the taxi industry has revealed a growing demand for reliable and convenient transportation services. With increasing urbanization and changing consumer preferences, there is a significant opportunity to capture a substantial share of the market. By identifying target demographics and leveraging emerging technologies, Taxi Ltd aims to offer an exceptional customer experience while ensuring cost-effective operations.

Unique Selling Proposition:

At Taxi Ltd, our unique selling proposition lies in our commitment to providing top-notch service and utilizing state-of-the-art technology. Our fleet of well-maintained vehicles, equipped with GPS tracking and advanced booking systems, ensures prompt and efficient service for our customers. By offering a user-friendly mobile app and online booking platform, we aim to streamline the booking process and enhance convenience.

Business Model:

Taxi Ltd will operate on a two-sided business model, catering to both passengers and drivers. We will implement a revenue-sharing model with drivers, ensuring a fair and competitive compensation structure. By maintaining a diverse fleet and optimizing routes, we will maximize efficiency and profitability.

Marketing and Growth Strategy:

To create awareness and build a strong brand presence, Taxi Ltd will employ a multi-channel marketing strategy. We will leverage digital marketing platforms, social media campaigns, and targeted advertising to reach our potential customers. Collaborations with hotels, airports, and local businesses will further expand our customer base.

Financial Projections:

Based on extensive market research and financial analysis, our projections indicate steady growth and profitability. We anticipate an initial investment of [amount], which will primarily be allocated to fleet acquisition, technology implementation, and marketing activities. Over the next three years, we project a gradual increase in revenue and a positive return on investment.

Conclusion:

In summary, Taxi Ltd’s business plan outlines a strategic approach to penetrate the taxi service market. By leveraging advanced technology, maintaining high service standards, and implementing an effective marketing strategy, we are confident in our ability to establish Taxi Ltd as a prominent player in the industry. With a customer-centric approach and a focus on operational efficiency, we are well-positioned to meet the evolving transportation needs of our target market and drive long-term success

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Taxi or cab driver business plan: product and service.

In this section, we will provide an in-depth overview of the products and services offered by Taxi Ltd. With a strong emphasis on customer satisfaction and convenience, we have developed a comprehensive range of transportation solutions that cater to the diverse needs of our target market.

Taxi Services:

At Taxi Ltd, we pride ourselves on offering reliable and efficient taxi services. Our fleet consists of a variety of vehicles, including sedans, SUVs, and vans, ensuring that we can accommodate individuals, families, and groups of different sizes. All our vehicles are well-maintained, clean, and equipped with the latest safety features to provide a comfortable and secure travel experience.

Airport Transfers:

We understand the importance of seamless airport transfers for both business and leisure travelers. Taxi Ltd offers timely and hassle-free transportation to and from airports. Our drivers are trained to monitor flight schedules to ensure on-time pickups and drop-offs, eliminating any stress associated with travel arrangements.

Corporate Transportation:

For corporate clients, Taxi Ltd provides professional and reliable transportation services. We understand the need for punctuality and professionalism in the business world. Our drivers are trained to maintain a high level of professionalism, ensuring a comfortable and productive journey for executives, employees, and clients.

City Tours and Sightseeing:

We also offer city tours and sightseeing services, allowing tourists and visitors to explore the attractions and landmarks of our city. Our knowledgeable drivers serve as tour guides, providing valuable insights and recommendations to enhance the overall experience. We can customize tours based on individual preferences and interests.

Advanced Technology:

To enhance convenience and streamline the booking process, Taxi Ltd has developed a user-friendly mobile app and an online booking platform. Customers can easily book a taxi, track its location in real-time, and make secure payments through these digital channels. Additionally, our app provides estimated fares, trip history, and the ability to rate and review drivers, ensuring transparency and accountability.

Customer Support:

At Taxi Ltd, we prioritize customer satisfaction. Our dedicated customer support team is available 24/7 to assist with any queries, concerns, or feedback. We strive to provide prompt and effective solutions to ensure a positive experience for every customer.

Taxi Ltd offers a comprehensive range of transportation solutions designed to meet the diverse needs of our customers. With our reliable fleet, advanced technology, and commitment to customer satisfaction, we aim to provide a seamless and enjoyable travel experience. Whether it’s airport transfers, corporate transportation, city tours, or general taxi services, Taxi Ltd is dedicated to exceeding customer expectations and becoming the go-to choice for transportation needs

Taxi or cab driver Business Plan: market analysis

In this section, we will conduct a comprehensive market analysis for Taxi Ltd, examining the current trends, opportunities, and challenges in the taxi industry. By understanding the market dynamics, we can identify our target market and develop effective strategies to capture a significant share of the industry.

Market Size and Growth:

The taxi industry has witnessed substantial growth in recent years, driven by factors such as increasing urbanization, population growth, and changing consumer preferences. According to market research reports, the global taxi market is projected to reach [value] by [year], growing at a [percentage] compound annual growth rate (CAGR). This presents a significant opportunity for Taxi Ltd to tap into this expanding market.

Target Market:

Taxi Ltd aims to target a diverse range of customer segments to maximize our market reach. Our primary target market includes:

• Commuters: Daily commuters who rely on taxis for their everyday transportation needs, including commuting to work, running errands, and attending appointments.
• Business Travelers: Professionals and executives who require reliable transportation for airport transfers, corporate meetings, and client visits.
• Tourists: Visitors and tourists seeking convenient and comfortable transportation to explore the city’s attractions and landmarks.

Competitor Analysis:

In the taxi industry, competition is intense, with both traditional taxi companies and ride-hailing services vying for market share. It is crucial for Taxi Ltd to analyze our key competitors and identify our unique selling propositions. Some of the key competitors in the market include established taxi companies, such as [Competitor 1] and [Competitor 2], as well as ride-hailing platforms like [Competitor 3] and [Competitor 4].

Differentiation and Competitive Advantage:

To gain a competitive edge, Taxi Ltd will focus on several key differentiators:

• Service Quality: We will prioritize delivering exceptional customer service, ensuring that every passenger has a comfortable and enjoyable experience.
• Technology Integration: By leveraging advanced technology, such as GPS tracking, online booking systems, and mobile apps, we will enhance convenience and streamline the booking process.
• Safety and Reliability: Taxi Ltd will prioritize passenger safety by ensuring all drivers undergo thorough background checks, and our vehicles are regularly inspected and maintained.

Market Trends and Opportunities:

Several emerging trends provide opportunities for Taxi Ltd:

• Increasing Demand for Ride-hailing: The rise of ride-hailing services has transformed the industry, with more customers opting for convenient app-based booking. Taxi Ltd will leverage this trend by developing a user-friendly mobile app and online platform.
• Sustainable Transportation: There is a growing demand for eco-friendly transportation options. Taxi Ltd will explore the integration of hybrid or electric vehicles into our fleet to cater to environmentally conscious customers.
• Personalized Experiences: Customers increasingly seek personalized experiences. Taxi Ltd will focus on customization, allowing customers to select vehicle preferences, add-ons, and preferred routes, enhancing customer satisfaction.

The market analysis highlights the immense potential within the taxi industry for Taxi Ltd. By understanding market trends, identifying our target market, and differentiating ourselves from competitors, we can position ourselves for success. With a focus on exceptional service, advanced technology, and a customer-centric approach, Taxi Ltd is poised to capitalize on the growing demand for reliable and convenient transportation services

Taxi or cab driver Business Plan: Marketing & Sales Strategy

In this section, we will outline the comprehensive marketing and sales strategy that Taxi Ltd will implement to promote our services, build brand awareness, and drive customer acquisition. Through targeted marketing campaigns and strategic sales efforts, we aim to position Taxi Ltd as the preferred choice for transportation services in our target market.

Target Market Segmentation:

To optimize our marketing efforts, Taxi Ltd will segment our target market based on demographics, psychographics, and specific customer needs. Our primary target segments include:

• Daily Commuters: Individuals who rely on taxis for their daily transportation needs, including commuting to work, running errands, and attending appointments.

Marketing Channels and Strategies:

To reach our target market effectively, Taxi Ltd will employ a multi-channel marketing strategy. Some of the key marketing channels and strategies we will utilize include:

• Website: We will develop a user-friendly website that showcases our services, features customer testimonials, and provides an easy-to-use booking interface.
• Search Engine Optimization (SEO): We will optimize our website content to rank higher in search engine results, ensuring maximum visibility.
• Social Media: We will leverage popular social media platforms to engage with our target audience, share relevant content, run targeted ad campaigns, and foster customer relationships.
• Paid Advertising: We will invest in online advertising platforms, such as Google Ads and social media ads, to increase brand visibility and drive website traffic.
• Email Marketing: Through targeted email campaigns, we will communicate special offers, promotions, and updates to our existing customer base.
• Hotels and Accommodation Providers: We will establish partnerships with local hotels and accommodation providers to offer transportation services to their guests, increasing our customer reach.
• Airports and Travel Agencies: Collaborating with airports and travel agencies will enable us to offer seamless airport transfers and attract business travelers and tourists.
• We will implement a referral program that incentivizes existing customers to refer Taxi Ltd to their friends, family, and colleagues, offering discounts or rewards for successful referrals.

Sales Approach:

In addition to our marketing efforts, Taxi Ltd will adopt a proactive sales approach to acquire corporate clients and forge partnerships with local businesses. Our sales team will focus on:

• Identifying and approaching potential corporate clients, attending business networking events, and scheduling meetings to showcase our services and negotiate contracts.
• Developing customized packages and pricing structures for corporate clients based on their specific needs and volume of transportation required.
• Collaborating with local businesses to offer exclusive discounts or partnerships, such as providing transportation services for corporate events or conferences.

Monitoring and Evaluation: To assess the effectiveness of our marketing and sales efforts, Taxi Ltd will monitor key performance indicators (KPIs) such as website traffic, conversion rates, customer feedback, and revenue growth. Regular evaluation of our marketing channels and strategies will allow us to make data-driven adjustments and optimize our campaigns for better results.

The marketing and sales strategy outlined above demonstrates Taxi Ltd’s commitment to building brand awareness, acquiring customers, and establishing strong partnerships within the target market. By utilizing a multi-channel approach, focusing on digital marketing, partnerships, referrals, and proactive sales efforts, we aim to create a strong presence in the transportation industry. Through continuous monitoring and evaluation, we will refine our strategies to ensure maximum effectiveness and drive sustainable growth for Taxi Ltd

Taxi or cab driver Business Plan: The Management Team

In this section, we will introduce the key members of the management team at Taxi Ltd. Our management team comprises experienced professionals with diverse backgrounds and expertise, collectively working towards the success and growth of the company.

• John Smith (Founder and CEO): John Smith is the visionary founder and CEO of Taxi Ltd. With over 15 years of experience in the transportation industry, John brings a deep understanding of the market dynamics and a passion for delivering exceptional service. As the driving force behind the company, John oversees the strategic direction, operations, and overall management of Taxi Ltd. His leadership and industry knowledge guide the team towards achieving the company’s goals and objectives.
• Sarah Johnson (Chief Operations Officer): As the Chief Operations Officer (COO), Sarah Johnson is responsible for overseeing the day-to-day operations of Taxi Ltd. With a strong background in logistics and operational management, Sarah ensures that our fleet of vehicles is well-maintained, our drivers are properly trained, and our services are delivered with utmost efficiency. She focuses on optimizing processes, implementing quality control measures, and continuously improving operational performance to meet customer demands.
• Emily Davis (Chief Financial Officer): Emily Davis, our Chief Financial Officer (CFO), brings extensive financial expertise to Taxi Ltd. With a solid background in financial management and accounting, Emily is responsible for overseeing the company’s financial operations, budgeting, and financial planning. She ensures the company’s financial stability, manages financial risks, and provides strategic guidance on financial decisions to support the growth and profitability of Taxi Ltd.
• Mark Thompson (Chief Marketing Officer): As the Chief Marketing Officer (CMO), Mark Thompson leads the marketing and branding efforts at Taxi Ltd. With a deep understanding of consumer behavior and market trends, Mark formulates and executes effective marketing strategies to create brand awareness, attract new customers, and drive customer engagement. He oversees digital marketing initiatives, brand positioning, advertising campaigns, and customer relationship management to enhance Taxi Ltd’s market presence.
• Rachel Lee (Chief Technology Officer): Rachel Lee, our Chief Technology Officer (CTO), is responsible for overseeing the technological aspects of Taxi Ltd. With a strong background in software development and IT management, Rachel ensures that our digital platforms, including the website, mobile app, and booking systems, are efficient, secure, and user-friendly. She stays updated with emerging technologies to identify opportunities for technological innovation and integration, improving the overall customer experience.
• Daniel Rodriguez (Chief People Officer): As the Chief People Officer (CPO), Daniel Rodriguez is responsible for managing human resources and fostering a positive work culture at Taxi Ltd. Daniel focuses on attracting and retaining top talent, developing employee training programs, and implementing effective HR policies and practices. He prioritizes employee satisfaction, growth, and well-being, ensuring that Taxi Ltd maintains a motivated and dedicated workforce.

Conclusion: The management team at Taxi Ltd combines their expertise, experience, and passion to drive the success of the company. With their collective leadership, strategic thinking, and operational excellence, they guide Taxi Ltd towards achieving its vision of becoming a leading player in the transportation industry. The team’s dedication to customer satisfaction, innovation, and operational efficiency ensures that Taxi Ltd delivers top-notch services and remains at the forefront of the market

Taxi or cab driver Business Plan: Financial forecasts or projections

In this section, we will provide financial forecasts and projections for Taxi Ltd over the next three years. These projections are based on thorough market research, industry trends, and sound financial analysis. The following estimates outline our revenue, expenses, and profitability, showcasing the growth potential and financial viability of Taxi Ltd.

Revenue Projections:

Year 1: In the first year of operations, we anticipate a gradual increase in revenue as we establish our presence in the market and attract a growing customer base. We project an annual revenue of [amount] for Year 1.

Year 2: As Taxi Ltd gains traction and brand recognition, we expect an accelerated revenue growth in the second year. We forecast a revenue increase of [percentage] compared to Year 1, reaching [amount] in Year 2.

Year 3: In Year 3, we anticipate continued expansion and increased market share. With a loyal customer base and effective marketing strategies, we estimate a revenue growth of [percentage] compared to Year 2, resulting in a total revenue of [amount] in Year 3.

To ensure accurate financial forecasting, we have considered various expenses associated with operating a taxi service business. Some key expense categories include:

• Vehicle Fleet and Maintenance: We will allocate a portion of our budget towards acquiring and maintaining a well-maintained fleet of vehicles. This includes purchase or lease costs, insurance, fuel, maintenance, and repairs.
• Technology and Infrastructure: Investments in advanced technology, such as GPS tracking systems, online booking platforms, and mobile app development, are crucial for efficient operations. We have factored in the associated costs of software, hardware, and IT infrastructure.
• Marketing and Advertising: To create brand awareness and attract customers, Taxi Ltd will invest in marketing and advertising campaigns. These expenses encompass digital marketing, social media advertising, print media, and partnerships with hotels and travel agencies.
• Salaries and Employee Benefits: A dedicated and skilled workforce is essential for the success of Taxi Ltd. We have accounted for salaries, benefits, and training costs for our management team, drivers, and support staff.

Profitability and Return on Investment (ROI):

Based on our revenue projections and estimated expenses, we anticipate a gradual increase in profitability over the forecasted period.

Year 1: In the initial year, we anticipate that Taxi Ltd may incur initial setup costs and expenses associated with establishing our operations. As a result, the net profit margin may be modest, but we expect it to turn positive.

Year 2: With increased revenue and improved operational efficiency, we project a higher net profit margin in Year 2. As we expand our customer base and optimize our operations, we anticipate a steady growth in profitability.

Year 3: In Year 3, with a well-established brand presence, loyal customer base, and streamlined operations, we project a further improvement in net profit margin. As we continue to scale, optimize costs, and leverage economies of scale, our profitability is expected to increase.

Return on Investment (ROI):

The return on investment for Taxi Ltd will depend on several factors, including revenue growth, operational efficiency, and cost management. We aim to achieve a positive ROI within [number] years, demonstrating the financial viability and success of our business model.

The financial forecasts and projections for Taxi Ltd demonstrate the potential for sustainable growth and profitability. While the projections are based on careful analysis, it is important to note that actual results may vary depending on market conditions, competitive landscape, and other external factors. By continuously monitoring and adjusting our financial strategies, we will strive to achieve the projected revenue targets, manage expenses effectively, and ensure a solid return on investment

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Looking for a Uber Taxi Business plan in Nigeria for your new or existing enterprise?

Download this Uber Taxi Business plan sample, which you can download to present to NIRSAL, BOI, BOA, and other investors.

1.0. Executive Summary

Pace Setter Uber Drivers, Inc. is a registered taxi e – hailing software app company that intends to manage drivers under Uber. We will be based in Ikeja, Lagos-Nigeria and also operate in other major cities across the country. We decided to carry out our operation in these cities because our services will be in demand due to the demographic composition of the cities.

Our services will involve managing professional drivers and a fleet of cars under Uber. We are well trained and equipped with some of the most distinct taxi cab drivers and suitable vehicles to service our clients irrespective of their social and financial status.

At Pace Setter Uber Drivers, Inc. we are passionate in a race of attaining excellence and financial progress with fair services and sincerity which is why we have decided to start our own Uber driver service business. 

We will be dedicated to building good business relationships with our clients by providing them value for their money and reasons to patronize us. We acknowledged that to become the best in this city. We will continually provide quality and highly reliable services.

Our values and professional ethics will guide us as the interest of our clients is our priority. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Pace Setter Uber Drivers, Inc. is a family business owned and managed by Larry Sam. They both graduated from Lagos State University and have all the required qualifications and expertise to grow Pace Setter Uber Drivers, Inc. to favourably compete with leading brands in the Taxi e-hailing software app services industry.

2.0. Our Products and Services

Pace Setter Uber Drivers, Inc. is a standard Uber driver company that is built to generate profit and favourably compete among the leading brands in the industry. Our services offerings are listed below;

• Hiring, training and providing drivers for partners under Uber
• Managing drivers and fleet of cars for partners under Uber

3.0. Our Mission and Vision Statement

• Our vision is to become the best Uber driver company in Ikeja-Lagos with an active presence in key cities of the country.
• Our mission as a standard Uber driver company is to develop a highly successful, lucrative business that provides reliable drivers and cars in our city and become the standard for an ideal taxi e-hailing business throughout Nigeria.

4.0. Our Business Structure

We plan to build an Uber driver services company that will be the standard for the industry in Nigeria. We want to have a passionate workforce that ensures that our customers and partners are satisfied and they get worth for their money.

With the wide range of our service offerings, we will employ more than the required workers (both full-time and contract workers) to run a conventional Uber driver business.

We will employ professionals and highly skilled people to occupy the following position;

• Chief Executive Officer
• IT Specialist
• Admin and HR Manager
• Marketing and Sales Executive
• Professional Drivers
• Customer Care Executive / Front Desk Officer

5.0. SWOT ANALYSIS

Our strengths will be the strategic locations we intend to cover, the Business model we will be engaging in, access to a pool of willing partners, a wide range of highly reliable and comfortable cars, highly trained and polite drivers and our excellent customer service culture

Our major weakness is that we don’t have the financial capacity and business structure to compete with Uber hence the need to work with them as an independent partner.

Opportunities

The fact that we are launching out in the centre of Ikeja-Lagos, provides us with countless opportunities to market our services to a vigorous number of professional drivers, business partners, corporate organizations, travel and tours agencies, hotels, government organizations, households et al.

We have been able to carry out feasibility studies and market surveys, we know what our potential clients will be looking for when they patronize our services; we are well-positioned to take on the opportunities that will come our way.

The fact that we are not an independent business will be our major threat and the arrival of a new Uber services company in the location using the same business model as ours.

6.0. Our Target Market

We identify clients that will benefit from our service as a Uber services company with the aid of the feasibility studies and market survey we conducted. Our potential clients are grouped into three and are;

• Investors/partners who are interested in investing in Uber by making an available fleet of cars to be managed by a company like ours
• Professional drivers who want to drive under Uber but don’t have their cars
• Everyone who has the financial capacity to make use of taxi cabs / Uber.

7.0. Our competitive advantage

We can confidently say that the strategic locations we intend to cover, the Business model we will be operating on, access to the funds of partners and investors, ease of payment, a wide variety of dependable and luxurious cars, well-trained and polite drivers and our prolific customer service culture will serve as a competitive advantage for Pace Setter Uber Drivers, Inc.

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Uber Business Plan Template

Written by Dave Lavinsky

Uber Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an Uber business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Uber Business Plan?

A business plan provides a snapshot of your business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for an Uber Business

If you’re looking to start an Uber business, or grow your existing business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your business in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Uber Businesses

With regards to funding, the main sources of funding for an Uber business are personal savings, and credit cards. Personal savings and bank loans are the most common funding paths for Uber businesses.

Finish Your Business Plan Today!

How to write a business plan for an uber business.

If you want to start an Uber business or expand your current one, you need a business plan. Below we detail what should be included in each section of your business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of Uber business you are operating and its status. For example, are you a startup, do you have a business that you would like to grow, or are you operating businesses in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the Uber industry. Discuss the type of Uber business you are operating and your business model. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of business you are operating.

For example, you might operate one of the following types of Uber businesses:

• Uber Green : this type of Uber uses electric vehicles.
• UberX: this type of Uber provides rides for 1-3 customers in a car.
• UberXL: this type of provides rides for groups up to 5 in a minivan or van.
• Uber Delivery: this type of Uber provides local deliveries, of food ordered via the Uber Eats platform, or of packages under 50 pounds.
• Uber Freight: this type of Uber hauls freight over long distances, choosing which loads to haul via the Uber Freight platform

In addition to explaining the type of Uber business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What is your Uber business model? How will you make money using Uber?
• What milestones have you achieved to date? Milestones could include the number of persons assisted, the prestige of clientele served, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the Uber industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the Uber industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

• How big is the Uber industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your Uber business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, groups, and manufacturers.

As you can imagine, the customer segment(s) you choose will have a great impact on your business. Clearly, your business structure would be far different for freight than for individual rides, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most Uber businesses primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other Uber drivers.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes individuals who have their own car, or drive a rental car, or independent trucking companies.

With regards to direct competition, you want to describe the other Uber drivers with which you compete. Most likely, your direct competitors will be Uber drivers located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• Do they specialize in specific services (i.e. luxury transportation, courier services, etc.)?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide a wider range of services?
• Will you offer greater convenience, such as early morning and/or late night hours?
• Will you provide any in-car amenities, such as mints or bottled water?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an Uber driver, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of Uber that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to cross-town trips, will your Uber business provide rides between cities?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your Uber business. Document your location and mention how the location will impact your success. For example, will your car or fleet be centrally located, to capture the greatest market share? In this section, discuss how your location will affect the demand for your services.

Promotions : The final part of your Uber marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider the following marketing campaigns:

• Advertising in local papers and magazines
• Reaching out to local websites
• Signs and billboards
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your business, including getting regular oil changes, cleaning the interior after each customer, washing the exterior regularly, purchasing water/mints, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to complete your 1,000 th ride, or when you hope to reach $X in revenue. It could also be when you expect to launch in new markets.  

Management Team

To demonstrate your ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing Uber businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in passenger transportation, or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you give 10 rides per day, or 20? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your Uber business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a business:

• Office build-out including fixtures, construction, etc.
• Cost of buying or leasing a company vehicle
• Cost of office supplies such as software
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your car or fleet specs, or an overview of all the amenities or services you provide.  

Putting together a business plan for your Uber business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the Uber industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful business.  

Uber Business Plan FAQs

What is the easiest way to complete my uber business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Uber Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of Uber business you are operating and the status; for example, are you a startup, do you have an Uber business that you would like to grow, or are you operating a chain of Uber businesses?

Don’t you wish there was a faster, easier way to finish your Uber business plan?

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business planning consultant can create your business plan for you.

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Starting Minibus Taxi Business In South Africa – Business Plan (PDF, Word & Excel)

Posted by BizBolts | All Articles , Business Ideas , Business Plans , Transport Industry

Starting a minibus taxi business in South Africa is a rewarding venture. South Africa’s minibus taxi industry plays a crucial role in the country’s public transportation system, providing millions of people with a convenient and affordable way to get around. Minibus taxis in South Africa are the most available and most affordable form of public transportation used by the majority of people. Despite some people owning their own vehicles there are still innumerable numbers of people needing public transport. According to the South African National Taxi Council, the minibus taxi industry transports more than 16 million per day. This article will outline how to start the minibus taxi transport business in South Africa and the minibus taxi business plan – PDF, Word and Excel.

Market Research

The public transportation sector is extremely broad and is also characterised by fierce competition. So before you set out to start your minibus public transportation business in South Africa, you have to do some extensive market research to get a grip of the industry. You must appreciate that minibus taxis are different from other public service vehicles including regarding seating capacity. This means you cannot just service any route you want and thus you will have to research about that.

There are many ways in which you can package your services e.g. catering for a particular route doing pick and drops. You could do airport pickups or ferry school kids to and fro school. You could specifically niche by focusing on corporate clients where you ferry them to and fro work daily. These are just some of the possible services one could offer.

So the point is you must do market research and decide which type of services you want to offer, and for which routes. Ensure that you study existing players’ business structures, strategies, marketing approaches and pricing regimes plus so much more. Be very thorough in your pursuit to gather as much information so that you make informed decisions in building your business. That’s why it is essential for you to have a detailed minibus taxi business plan before you start this business.

Premises, Vehicles And Equipment

You will need minibuses since they will be the major component of your business. The number of minibuses will depend on your intended scale of business operations and also the amount of capital which you have. You will have to get the minibus taxis branded (if needs be; it depends on your marketing approaches). You will need to get equipment for the minibuses that are mandatory with respect to regulations. We are talking about things like fire extinguishers, emergency warning triangles, jacks and so on – basically things that are mandatory by law and are necessary for preparedness to deal with any incidentals. When it comes to fleet management you can choose to have your own garage/workshop or you can outsource services as and when you need them. Depending on the number of minibus taxis you will be operating you might need a base of operations for communication purposes (a dispatch centre of sorts). That essentially would bring us back to the issue of having your own garage or workshop which could also play that role all in one.

The other important decision to make is whether to purchase brand new minibus taxis or second hand vehicles. Ideally it will be better to purchase brand new minibus taxi vehicles as they are more reliable and efficient with low repair and maintenance costs. However, if you have limited capital, then you may start the minibus taxi business with used vehicles which are cheaper. You have also to consider the seating capacity of the minibus taxis. This will depend on your operational strategy and the routes which you want to service. The most common modern model for minibus taxis in South Africa is the Toyota Quantum. The other modern models used in South Africa include the Nissan NV350 and Mercedes-Benz Sprinter. The costs of purchasing the minibus taxis and equipment should be included in your minibus taxi business plan.

Maintenance & Repairs

In the realm of South African minibus taxi operations, the importance of maintenance and efficient repairs cannot be overstated. It’s a linchpin of ensuring the safety of passengers and the sustainability of your business. Preventative maintenance takes center stage, involving regular checks of critical components like the engine, brakes, tires, lights, and more. These proactive measures not only enhance passenger safety but also extend the lifespan of your fleet, ultimately reducing the long-term costs associated with repairs. A well-maintained fleet not only instills confidence in passengers but also translates to fewer service interruptions, contributing to higher customer satisfaction and loyalty.

The expertise of skilled technicians is equally essential. Minibus taxis endure considerable wear and tear from daily operations, making the competence of your mechanics and technicians paramount. It’s crucial to have access to professionals who can diagnose and address issues promptly, minimizing downtime. Moreover, forging strong partnerships with reputable repair shops and spare parts suppliers can streamline the repair process, ensuring that your vehicles spend less time off the road.

Budgetary considerations play a pivotal role in this equation. Creating a dedicated budget for maintenance and repairs is essential to ensure that these expenses are accounted for without negatively impacting your financial stability. While cost-cutting measures may be tempting, investing in quality maintenance and repairs ultimately pays dividends by reducing unforeseen repair expenses and maintaining a fleet that passengers can rely on. Exploring strategies such as bulk purchasing of spare parts and negotiating maintenance contracts with trusted service providers can help optimize your budget, ensuring that your minibus taxi business remains both safe and financially viable.

Minibus Taxi Services

There are many possible services to offer in this is type of business including the usual pick and drops, ferrying school kids, airport pick ups and private hires. One of the key factors in choosing the type of services to offer is the distance to be covered. For instance, if you plan on servicing a long distance route, for instance 150 kilometres that would mean you can do pick and drops along the way.

Alternatively you could use a booking system to ensure you only ferry people travelling the whole distance. You could also offer hiring services for a broad range of customers. If it is intra-city you can also follow the same approaches i.e. pick and drops, ferrying full-distance passengers or offering hiring services. If you are enterprising enough and always have an eye out you can notice many other services that you can offer.

Routes are the lifeblood of any minibus taxi business in South Africa. When embarking on this entrepreneurial journey, it’s essential to strategize your routes effectively to ensure the success of your venture. The first route category to consider is connecting the bustling City Centre (CBD) to and from nearby residential areas. These routes cater to the daily commuting needs of residents, providing a convenient and reliable means of transportation to work, shopping, and other activities in the city center. Efficiency and timeliness are key in meeting the demands of this busy crowd.

Expanding your reach, consider establishing routes that connect different residential areas within a city. Passengers often rely on minibus taxis for social visits, events, or errands within their city. By providing comfortable and efficient transportation options, you can tap into the steady demand for intra-city travel.

To broaden your revenue potential, explore inter-city routes that connect major cities in South Africa. People travel between cities for business, leisure, and family visits, presenting an opportunity for your minibus taxi business to thrive. Additionally, consider routes that bridge the gap between urban centers and rural areas, catering to the transportation needs of residents who rely on these services for access to essential facilities. Operating in rural areas requires careful planning and a commitment to serving these communities.

Minibus Taxi Licences and Insurance

To operate a minibus taxi business in South Africa, there are some legal requirements you have to adhere to. All your vehicles should be registered and have a valid vehicle licence which is renewed annually. Any person that transports passengers in South Africa must obtain a public operating licence, this applies also to minibus taxi drivers. A  public operating licence is a permit or document giving drivers permission to transport people for public gain. All your drivers should also have drivers license. The minibus taxi drivers should also have have a professional driving permit for driving passenger vehicles.  It’s important that you adhere to all the regulation otherwise you risk getting fined and losing your operating license.

When operating a minibus taxi business in South Africa, it is important to protect all of the assets of your business. Appropriate and adequate insurance coverage is an important part of protecting your taxi business. It is better to take out comprehensive insurance policies for all your vehicles. This is the most extensive form of insurance and covers you in the event of theft, hijacking, loss and/or damage caused by an accident, fire and natural disasters, and claims made against you by third parties where you are responsible for the damage to their vehicle. The costs of insurance and licences should be catered for in your minibus taxi business plan.

Minibus Taxi Business Model

The Minibus Taxi Business Model is a straightforward yet critical component of operating a successful minibus taxi business in South Africa. It begins with the purchase of vehicles, followed by the hiring of drivers who will operate these vehicles on specific routes. These routes are carefully chosen to cater to the transportation needs of commuters. Minibus taxis are typically stationed at taxi ranks, where passengers board until the vehicle is full, and they pay a fixed fare for the journey. This model relies on efficiency and passenger capacity to maximize revenue while serving the transportation needs of the community.

The major expenses that minibus taxi businesses encounter include fuel, driver salaries, vehicle repairs and maintenance and the necessary licenses and insurance. Profitability hinges on the number of trips the minibus taxis can complete each day. A higher volume of trips translates to increased revenue, which should ideally cover the substantial expenses, primarily fuel and other operational costs. With careful management and strategic planning, a profitable minibus taxi business can even generate enough revenue to expand by purchasing additional vehicles, thus further contributing to its growth and success in meeting the demands of South African commuters.

Staff And Management

This is informed by your scale of operations. The most elementary scale of operations is by being an owner-driver. If this is your level then you can do all that has to be done without hiring anyone. It becomes a different story when you have several minibuses in operation. You would need more hands on deck to run and manage the day to day business activities.

One of the key things to be on top of is close monitoring of how drivers are conducting their trips. Having to ensure that daily revenue targets are being adhered to by the drivers, responsible vehicle handling and many other things will require some full-time staff. Management can always effectively be done by the owner if the business is relatively small to medium scale. When the business grows to huge proportions you might end up needing to have supervisors, managers and even a workshop or garage. Necessary staff for a medium to large scale business include marketing staff, operations staff, finance and accounting staff. Operations staff includes drivers, conductors, mechanics, supervisors and operations managers. Your minibus taxi business plan should include costs for the wages and salaries of all your staff.

Minibus Taxis

Market for Minibus Taxi Business

Despite the competition, the market for minibus taxis is vast and inexhaustible. According to the South African National Taxi Council, the minibus taxi industry transports more than 15 million per day. This show that the demand for minibus taxis is high in South Africa. The majority of these public transport commuters are low income earning individuals. Minibus taxis are the preferred mode of transport for over 50% of the South African population who earn R3 000 or less per month and can’t afford private transport. A proper marketing strategy should be included in your minibus public transport business. 

Keys to Profitability

In the dynamic landscape of the minibus taxi business in South Africa, achieving and maintaining profitability requires a strategic approach and an acute understanding of the market. First and foremost, route optimization is a fundamental aspect. Carefully selecting and fine-tuning your routes is crucial to attracting a consistent flow of passengers. Routes connecting urban centers, residential areas, and transportation hubs tend to yield higher passenger demand. Regularly assessing and adapting to changing commuter patterns ensures that your minibus taxis remain a preferred choice for travelers.

Efficiency in vehicle maintenance is paramount. Regular servicing and maintenance not only reduce repair costs but also instill passenger confidence in the safety and reliability of your fleet. A well-maintained fleet is less likely to experience disruptions due to breakdowns, ensuring a steady stream of revenue. Managing operational costs effectively is another key element. This includes vigilant monitoring of expenses such as fuel, driver salaries, vehicle repairs, and marketing efforts. Implementing cost-saving measures, such as fuel-efficient driving techniques and bulk purchasing of essential supplies, contributes to overall profitability.

Moreover, setting an optimal pricing strategy is essential. Competitive yet fair pricing that takes into account the distance traveled and local market rates strikes a balance between attracting passengers and covering costs with a reasonable profit margin. Maximizing vehicle utilization by ensuring minibuses operate at full capacity during each trip is vital. Offering incentives during off-peak hours can attract additional passengers, while efficient scheduling and reliable service help retain customer loyalty. Building a reputation for excellent customer service and investing in marketing and branding efforts to raise awareness can set your minibus taxi business apart in a crowded market. Compliance with regulations, meticulous financial management, and a commitment to continuous improvement complete the formula for achieving and sustaining profitability in the South African minibus taxi industry.

Advantages of Minibus Taxi Business in South Africa

Embarking on a minibus taxi business in South Africa presents a range of compelling advantages that make it an appealing entrepreneurial pursuit. Firstly, the country’s significant population and urbanization have fostered a robust demand for public transportation. Minibus taxis are instrumental in meeting this demand, serving as a vital mode of mobility for millions of daily commuters. This substantial customer base ensures a consistent flow of passengers, offering a strong foundation for business growth and profitability.

One of the standout features of the minibus taxi business is its inherent flexibility. Entrepreneurs have the liberty to tailor their services according to specific routes, schedules, or even special events. This adaptability allows for a diverse range of business models, from short intra-city trips to long-distance journeys between cities and rural areas, accommodating a wide spectrum of customer needs. With effective route optimization, reliable scheduling, and prudent cost management, the potential for achieving healthy profit margins is significant.

Moreover, beyond its financial benefits, the minibus taxi industry plays a vital role in job creation, offering employment opportunities for drivers, mechanics, administrative personnel, and support staff. Entrepreneurs who venture into this sector contribute to the overall economic development of their communities by providing essential transportation services that enable access to employment, education, healthcare, and social activities. The industry’s relatively low entry barriers further democratize entrepreneurship, making it accessible to a diverse group of individuals interested in participating in South Africa’s transportation landscape. In sum, the minibus taxi business presents a compelling blend of economic potential, adaptability, and community impact, making it an enticing choice for aspiring entrepreneurs in South Africa.

PRE-WRITTEN MINIBUS TAXI BUSINESS PLAN (PDF, WORD AND EXCEL): COMPREHENSIVE VERSION, SHORT FUNDING/BANK LOAN VERSION AND AUTOMATED FINANCIAL STATEMENTS

For an in-depth analysis of the minibus taxi business in South Africa, purchase our minibus taxi public transport business plan. We decided to introduce the business plans after noting that many South Africans were venturing into the minibus public transport business without a full understanding of the industry, market, how to run the business, the risks involved, profitability of the business and the costs involved, leading to a high failure rate of their businesses.

Our business plan will make it easier for you to launch and run a minibus taxi transport business successfully, fully knowing what you are going into, and what’s needed to succeed in the business. It will be easier to plan and budget as the minibus business plan will lay out all the costs involved in setting up and running the minibus taxi business. The business plan is designed specifically for the South African market.

USES OF THE MINIBUS TAXI BUSINESS PLAN (PDF, WORD AND EXCEL)

The minibus public transport business plan can be used for many purposes including:

• Raising capital from investors/friends/relatives
• Applying for a bank loan
• Start-up guide to launch your minibus taxi business
• As a minibus taxi project proposal
• Assessing profitability of the minibus transport business
• Finding a business partner
• Assessing the initial start-up costs so that you know how much to save
• Manual for current business owners to help in business and strategy formulation

CONTENTS OF THE MINIBUS TAXI TRANSPORT BUSINESS PLAN (PDF, WORD AND EXCEL)

The business plan includes, but not limited to:

• Market Analysis
• Industry Analysis
• 5 Year Automated Financial Statements [ Income statements, cash flow statements, balance sheets, monthly cash flow projections (3 years monthly cash flow projections, the remaining two years annually),break even analysis, payback period analysis, start-up costs, financial graphs, revenue and expenses, Bank Loan Amortisation]
• Marketing Strategy
• Risk Analysis
• SWOT & PEST Analysis
• Operational Requirements
• Operational Strategy
• Why some South Africans in the minibus taxi business fail, so that you can avoid their mistakes
• Ways to raise capital to start your minibus taxi public transport business in South Africa

The Minibus Taxi Business Plan package consist of 4 files

• Minibus Taxi Business Plan – PDF file (Comprehensive – 73 pages)
• Minibus Taxi Transport Business Plan – Editable Word File (Comprehensive – 73 pages)
• Minibus Taxi Business Plan Funding Version – Editable Word File (Short version for applying for a loan – 44 pages)
• Minibus Taxi Business Plan Automated Financial Statements – (Editable Excel file)

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The BizBolts poultry business plan led us down the path from start to finish. Contact details of suppliers of key requirements were included in the business plan. It helped us crystallize our strategy, and the business plan was well received by the bank.

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I am extremely pleased with the business plan and financial statements. The business plan is very detailed & it meets my requirements. I feel better equipped with tools that can help me secure funding.  I would have no hesitation of recommending your business plans to other people.

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Thank you BizBolts for the business plan. I received the business plan immediately after payment, it was money well spent ! I was able to easily edit the business plan. After using the BizBolts business plan, I can wholeheartedly recommend their products and skills.

Testimonial 1

Many thanks to the BizBolts team for putting together a fantastic business plan, I could not have done this business plan on my own. I managed to get funding from investors to start my butchery business using your business plan.

Testimonial 3

The business plan has a highly professional look and feel. The research really helps me look deep into the market that I am targeting, it’s well suited for the South African market. The business plan clearly outlined everything I need to start the business and the costs. It’s now easier to budget and plan. Thank you very much.

Testimonial 4

The business plan was very helpful, you did a great job of taking ideas and putting them into words as well as pointing out other aspects of the business plan I wouldn’t have thought of. I got funding using your business plan and it’s now 4 months since I started my poultry business, and everything is going well.

GET THE MINIBUS TAXI BUSINESS PLAN (PDF, WORD AND EXCEL) - R500 Only.

We decided to make the business plan affordable to anyone who would want to start the business, and the price for the pre-written business plan is only 500 Rand.

We have several payment methods which you can use.

Payment Method 1 (Visa card, Mastercard, Credit card, Debit Card)

Click  Buy Now  below to purchase. After you have purchased, you will instantly see the download link for the business plan package on the screen. We will also email you the download link. Get instant access to the business plan now!

If you want to purchase multiple business plans at once using Visa Card/MasterCard then  click here: Business Plans Store

The business plan package is a zipped compressed file containing the PDF, Word and Excel documents. To open the package after downloading it, just right click, and select Extract All. If you have any problems in downloading and opening the files, email us on [email protected] and we will assist you.

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Call/Whatsapp us on +27606334830 for the other payment methods. (Whatsapp us by clicking the link https://wa.me/27606334830 ). Email: [email protected] .

About The Author

BizBolts (Pty) Ltd is a business research company based in Johannesburg, South Africa. We sell prewritten business plans for various industries including livestock production, crop farming and retail businesses. BizBolts also publishes articles on business ideas, business news, business tips, personal finance, and entrepreneur profiles.

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