How to Grow Your Taxi Business Using these Powerful Ways

Many individuals have tried to create a cab company or have desired to do so, but they have recognized that their efforts have been in vain, so they have given up. It’s not as simple as it first appears to operate a cab company. To run a successful taxi business there is need for both money and manpower. You may also need training for you to be able to handle such situations. The best way to do that is by hiring experienced drivers who can work for small and big companies, as well as individual drivers from your location within the city or town. When you hire a driver with skills and experience, he will be capable of taking orders from patrons. Not only this, the person’s driving experience gives him an advantage over other drivers looking to take a taxi service because he is already trained and ready to learn. A good professional driver will earn you loyalty because you are very satisfied with his services due to his high quality. Here is how you could get yourself on top

• There is more than one taxi service that has grown during my time in Hong Kong. One was called Yellow Star Cab. It was a relatively new company at its inception. This allowed us to find potential clients through word-of-mouth. However, we were able to diversify our service and grow into many different areas of business. We grew into a nationwide leader in several lines of business including: transportation, food and beverages, catering and events, etc. All of these services are profitable! During my tenure I was responsible for running all aspects of our company and our management team. Our goal was to provide excellent services to all travelers in the country. While some had reservations about our lack of professionalism, we listened to everyone and never treated anyone differently than anyone else when offering our services. With a budget of only one million dollars, we were unable to afford to pay salaries, benefits, or bonuses, but we were able to maintain a healthy profit margin. Because of our competitive nature, we had multiple competitors in the area of transport, catering, and event planning. As a result, we kept prices low but offered better customer care and value for money for each client. Even now, we provide the same level of quality as anyone else in the market. They also always strive to make sure their employees are happy, motivated, and feel comfortable. For example, during my tenure we promoted one employee for two years while another hired her for eighteen months. Although she worked hard and performed with excellence, we still gave her additional promotions and benefits at the beginning of every year. In fact, we did it all out of the kindness and generosity of our customers. Some people think that if you don’t offer a decent wage or good working conditions for your employees, they will either leave your company or seek other opportunities elsewhere. If that happens, you will suffer financially and lose even more valuable talent who would continue to contribute to the success of your company long after they leave your establishment. Yes, there are instances where this does happen, but fortunately most times it doesn’t. So what does happen is that someone decides to quit and take another job. At such moments the owners of the original establishment can choose to retain their staff members but add additional benefits or salary increment. Let us hope this means that the owner won’t have to worry about losing valuable staff members.

• Most people believe that keeping employees is expensive and inefficient. That may be true, however, there are far more efficient ways to manage your payroll than employing people. Why? Well, because it costs less to organize and keep track of a large amount of payroll data compared to having people doing the work of tracking payroll data. Also, payroll storage is much cheaper than managing a large database of information. It takes longer, and with fewer errors, to process payroll. The expense of storing and maintaining a payroll system is usually much lower than purchasing a whole set of hardware and software for your payroll needs. Another reason why this technology is superior is the cost it saves on administration. By eliminating the need to keep track of everything from time and attendance records and filing reports, you can spend more time doing what you want to do instead of trying to manage the many tasks associated with making sure everything runs smoothly. Other things to consider include: • Tracking expenses. Have a record of all money you receive through deposits, credit card payments, and any charges from suppliers. Payroll should be set up using accounting methods that help you keep track of expenses and income. Make sure that you log your income and expenses in a separate sheet whenever possible and have a way to track them easily. Get organized. Use programs like QuickBooks Desktop Workstation, Excel VBA, and Microsoft Outlook for tax preparation and tracking expenses. Keep accurate track of mileage and pay your bills accordingly. Do not forget to report for taxes and withholdings on a weekly basis. Check for late payments and notify your suppliers. Set up automatic reminders.

• Having the right person for the job makes many jobs much simpler and less stressful. Now there are dozens of websites that connect prospective employees with employers that they might like to work with. According to statistics, approximately half of those applicants that apply for jobs are rejected. Instead of spending money to try and fill a position, it is much wiser to utilize online resources and utilize referrals for candidates to work for you.

• The last thing anyone wants to deal with is dealing with disgruntled clients. Finding reliable ride hailing services can be difficult because of the complicated processes. But, once again, remember to use online tools and platforms. Ask around, network with people who work with other operators of taxi services and ask their opinion about the services you may offer them. After all, they have firsthand experience in the industry and are much more qualified to make the decision for you.