The mission is to build a synergistic group of taxi companies who can work hand in hand increasing value and profit
1. Growth Opportunities
The transport industry is rapidly growing with the development of new airports, malls, hotels, resorts and other such places where transportation are not directly available. The taxi rentals are available in maximum localities leading transport industry towards a very bright future.
2. Free time
Being a business owner, you can get a lot of free time if you plan your work correctly. You can hire a good transport management company that is capable of managing the day to day running of the cab business. Also, hire competent and technically skilled drivers to drive taxis.
3. Regular workflow
Effective marketing and networking can help you build key connections that’ll further help you in increasing your workflow and cash-flow on a regular basis.
4. New opportunities
By accepting the new technologies, you can broaden up your business and start operating at cheaper costs.
5. Good returns
Having a taxi business can drive a high amount of return on monthly basis. These returns might get double if everything is managed and owned by you only. It means if you give your business on the lease you will get a lesser profit whereas if you’ll handle everything on your own, the entire profit will be yours.
WHATS THE INDUSTRY WORTH?
Driving forward: Revenue has grown over the past five years despite rising external competition
The Taxi Operation industry consists of participants that provide taxis and private-hire vehicles (PHVs) for personal and business transport on British roads. The two-tier system in place in the United Kingdom distinguishes between taxis, which can pick up customers directly on the street, and PHVs, which must be pre-booked through a licensed operator. The industry has faced challenging operating conditions over the past five years due to increased competition and volatile demand. Industry revenue is forecast to rise at a compound annual rate of 2.1% over the five years through 2018-19 to reach £9.7 billion.
Companies in this industry provide passenger transportation by automobiles not operated over regular routes or on regular schedules. No major companies dominate. The global taxi aindustry is highly fragmented, with service levels and practices varying greatly from country to country. Activity and revenue are concentrated in major cities throughout the world. Large cities in affluent countries such as Japan, the UK, and the US have strictly regulated markets and relatively high fares. The global taxi market is forecast to grow from 4 million vehicles in 2014 to 5 million vehicles by 2020, according to Frost & Sullivan.