If you are considering starting a new career as a taxi driver, it is essential that take the time to think about what the job will entail. While many taxicab drivers love the fact that they can be their own boss, the role also has certain responsibilities. Below is a guide to three things you should consider before you set yourself up as a taxi driver.
If you don't choose to work for a taxi company and instead want to work as a self-employed driver, you will be responsible for filing your own taxes at the end of every financial year. If you fail to do this, you may receive a fine for late payment of taxes. If you do not feel confident filling out the paperwork and calculating how much tax you will need to pay, you should consider hiring an accountant who can look after this aspect of the business for you.
As a taxi driver, you will have a choice about the hours you wish to work. When deciding which hours you would like to drive, you need to consider a couple of factors. Firstly, you should try to work out how much money you need to make per week and the times when the streets are busy with people looking to get from one place to another. For example, working in the evenings and nights on the weekend can be very lucrative as people who have been out socialising and drinking need to get home.
You will also be able to charge a premium price for driving at anti-social hours. However, you also need to consider the impact that anti-social hours will have on your life. For example, if you have children, working at night may not be a great choice for you as you won't get to see much of your kids. If this is the case, you should consider driving during the day instead.
Before you can begin driving a taxi cab, you will need to register with the local authorities. If you fail to do so, you could be liable for prosecution. If you aren't registered, it is also likely that your insurance policy will be invalid when transporting fare-paying passengers.
If you would like to find more information about what it takes to set up yourself as a taxi driver, you should contact a local business advisor or your local taxi hire company today.