Do you want to start a mini cab private hire business? A mini cab business can be very profitable and a great investment.
As a private hire business, you will need a PCO license. Pricing is left up to the operator and there are no limits on the number of operators in the area. Whether or not you want a meter is your decision and you can use any vehicle less than 5 years old. A mini cab driver will usually pay rent to a minicab office.
Start Up Costs
As with most business, there are costs involved in running a mini cab. In the London area, you need a valid divCo license. The cost for this varies depending on if you are getting a small or standard license and it needs to be renewed every 5 years. Unless you are using your home, there will be fees for your rental office.
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The vehicle you are using and your booking software will be additional costs. All mini cab drivers are also required to have insurance.
There are some rules for mini cab private hire businesses. You must be over 21 and be deemed a fit and proper person. Operators need a radio licensing, insurance, and are required to have all the drivers documents up to date and in order. As stated earlier drivers need a vehicle that is no more than 5 years old.
They also need a full EU drivers license and are required to pass a medical check.
Word Of Mouth
Word of mouth is one of a mini cab businesses most important tools. Make sure every customer has a good quality of experience.