Becoming An Independent Taxi Cab Owner And Driver

Becoming an independent taxi cab owner and driver is of course

, equal to wearing two entirely different hats. This goes without saying that the tasks bring its own set of challenges. However, it is an exciting job too because you are not only operating the cab but also managing just about everything that are related to the cab. Your job would typically include managing day to day affairs related to the cab.

This could include the loan or mortgage amount you have pledged to the bank, if applicable; managing the finances the cab enables you to earn and so on. Secondly, you will have to manage the operations part (repairing, maintenance, enhancement, for example) of the cab as well. There are certain merits and demerits to this entire proposition.

First, decide on the model and brand of cab you want to buy. Local authorities in some cities may stipulate purchase of a specific brand of cab in which case, you cannot do much of course. However, in case you can choose your cab model, choose the one that is fuel efficient and can travel on all terrains. In other words, choose a robust cab.

Second, let us take a look at the management part and how you can start being a taxi driver and also the taxi owner. First, you need to decide whether you are going to buy the cab on your own or take finance from a bank or any other lending institution. If you opt for the latter, take your time and choose the most suitable financing option depending on the rates of interest, EMIs, total tenure of the loan and other terms and conditions.

Third, obtain the requisite approval and licenses for operating the cab. Some cities or regions may have stipulated areas for operations. Also, become thoroughly aware of the rates and fare you will charge from the passengers.

Now, let us look at the operational or the day to day activities of being a driver of the cab you own. You must, without a doubt, know how to take care of your cab. Get hold of the trouble shooting manual and be aware of common glitches that could occur from time to time. You should be able to fix these glitches without really needing external intervention. Remember to send the cab for regular maintenance checkups, whenever applicable.

As stated earlier, becoming an independent taxi can owner and driver too has

its merits and demerits. Among the merits, you are not at the mercy of the whims and fancies of a taxi driver who you hire. Also, you are saved from paying the salary for the driver jobs and get to save a lot. The downside is that you have a lot on your plate to look after and that can get on your nerves sometimes.

by: Silas Reed

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