How to do Taxi Business in the Philippines

 

How to do Taxi Business in the Philippines.

 

A taxi business is a very interesting business, you get to meet a lot of interesting people and of course, the not-so-interesting ones, you get to go places and most importantly, you get to make money. Taxi business can sometimes be tough and tiring but the income and profit would wipe away the frown from your face in a few minutes.

 

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The most typical setting for a taxi business is to operate your own taxi cab (cabs are not exactly cabs here in the philipines because these taxis could be the latest car sedan or even an AUV such as Toyota and Suzuki). However, the most lucrative setting within this business is to operate your own TAXI agency while leasing your taxis to reputable drivers and letting them pay you boundaries.

You would expect to atleast need a capital of 2,000,000 Php for your own agency, or you could just operate your own taxi cab but you have to pay boundaries if you do not own the taxi/cab. But if you do own it, then just rake in your daily profit!- oh and income taxes? No problem on that here in the Philippines.

To succeed in your Taxi business, the most important thing you ought to know is that you need to employ positive attitude because taxi business is a service-based business. A business that is a part of the hospitality industry and to succeed, you have to be hospitable, you have to make people feel comfortable, at ease and satisfied.

As a visitor in a place for the first time, it doesn’t matter if you came by road, sea or air, there is a high probability that the first person you will meet in the new city is a taxi driver whom you must have employed to take you to your destination and the attitude and carriage of the taxi driver automatically creates a general first impression of the attitude and culture of the residents of that area on your mind.

 

 

Requirements:

  1. Get in the right mindset
  2. Purchase a good vehicle
  3. Get Insurance Covering
  4. Buy and install taxi meters (LTO regulatory standard)
  5. Top lights & Checkers
  6. Licenses and Fees
  7. Employ drivers (or You could be the Driver)

 

 

Conclusion:

This is a customer service type business so the right attitude and often times HONESTY is your foundation for this. You could be the greatest driver but with your ill attitudes, your business or operation might fail. You need to also be patient and accommodating, especially with the customer’s demands because they might want to go somewhere which they could only rely to you.  Do not get into the hype of “TRAPIK kasi kaya dagdag” or in english- It is traffic, so you have to pay up more. We have dealt with this particular taxi drivers before and sometimes it is quite tempting to punch them in the face due their stupid and unreasonable demands; but hey, that is business here in the Philippines.

 

“Taxi pa More!”

-adminj

 

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References:

Image source from opinion.inquirer.net

 

adminjay

"Jay Penn" is a Financial Literacy Mentor and Investor who is best known for his Book "Polymath's Profit". He is also an expert in the field of Maritime, Engineering, and Emergency Medical from his past careers. Experienced with Security Analysis, Crisis Prevention, Contingency Planning, and Global Maritime Distress Safety System. Currently instructs Nautical Sciences and is an avid Researcher of Business and Economics. He is also recognized as the "Top Maritime Instructor" for 3 consecutive years in the Maritime Education from 2014; raising the standard for the Maritime Industry and Training.

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