Starting a meter taxi service?

[anonsa]

A combination of the fact that my vehicle is too old for use as an Uber, and that meter taxi drivers always seem to find fares despite charging higher rates than ride-sharing services has led me to consider starting my own meter taxi service as a way to supplement my income part time.

If I make it a sole proprietership, the only red tape I'd need to get through would be a public operating license. I could then simply buy a magnetic taxi sign for my roof and sit in strategic areas to look for fares.

I wouldn't have to pay tax, as the amount I'd make per year combined with what I earn currently would still not meet the minimum threshold for income tax (I'm a student living with my parents, so my personal expenses are also low). A higher insurance cost is something I'd just have to grin, bear, and make back in earnings per month.

I have a feeling it isn't quite as easy as the above however, but I'm struggling to find additional information. Is there anybody with knowledge or experience in this area who could advice as to how feasible this is, or as to how far off the mark I am?

 

[phiber]

How many hours are you planning to drive a week, v how reliable is your car v how much risk do you want to take by being a cash accepting taxi? Why not run the numbers around leasing an uber car?

 

[RedViking]

All I know is you are gonna have to deal with the taxi associations , make sure you are not in someone else's territory or the taxi mafia is gonna take you out, or so is the word on the street.

 

[anonsa]

How many hours are you planning to drive a week, v how reliable is your car v how much risk do you want to take by being a cash accepting taxi? Why not run the numbers around leasing an uber car?

I've considered this, and it is also a viable idea. It would just be a shame to have to lease a car when I have a perfectly capable one sitting in the driveway. The leasing fee to the owner fo the car plus the percentage I'd have to pay Uber would make my margins a lot slimmer. Being a cash-accepting taxi is a risk I'm all right with. I'm still working out hours per week, although leasing an Uber car would remove a lot of flexibility from the equation. My car is nine years old and I consider it very reliable.

 

[anonsa]

All I know is you are gonna have to deal with the taxi associations , make sure you are not in someone else's territory or the taxi mafia is gonna take you out, or so is the word on the street.

I forgot to mention this, so thanks for reminding me. I'd apparently need to register with a taxi association, who would approve me for certain areas or a certain rute to make sure no area becomes too saturated. I guess I'd have to pay some kind of due to them as well.