Taxi business plan in the philippines

Cool south-west wind, moderate to heavy rainfall Tourist Season The Low Season is when the winds change and blow eastward into White Beach. There is more rain than usual, but there are also fewer tourists, better prices on accommodations, and other lower prices. The low season begins in May, and ends in October. During High Season, the winds come from the other side of the island, and White Beach is protected.

Taxi business plan in the philippines

As with most other types of businesses, the exact costs of starting a taxi business will largely depend on the area where your business is located. However, during the financial planning process of starting your taxi service, there are a number of important things you must consider.

Carefully evaluating these tasks can help you to determine the overall startup taxi business plan in the philippines of opening a taxi business, as well as assist you in forecasting future expenses. Vehicle Cost For most taxi businesses, the single greatest startup cost is the vehicles.

Buying used vehicles can save you money on the initial purchase, but be careful about what you buy, since repairs can quickly put a dent in your finances.

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Taxi Top Light Whether you buy new or used vehicles, you will still need to paint them, or have some form of logo attached to identify your taxi company. Costs for this will vary, but often, decals are cheaper than a professional paint job, and usually can be attached yourself if you are careful.

Note that in some areas, this may be a regulatory requirement, and you must display certain identifying information, so check with your local licensing agency prior to purchasing top lights. Taxi Meter Meters must be purchased and installed in each vehicle -- you are often required to have the meters installed by a professional meter shop approved by your local Department of Weights and Measures.

You will also need some form of radio or cellphone communications system, so your dispatcher can contact drivers and vice versa.

taxi business plan in the philippines

Again, costs are dependent upon your area and the system you choose, but expect to spend another couple hundred dollars upfront, as well as a monthly charge if you use mobile phones. Licensing Fees Some areas allow you to open a taxi service with just a general county or city business license, which is available from the local clerk's office.

Most towns and cities, however, have some form of regulatory agency that oversees and licenses taxi businesses, and the fees for procuring a license to operate may be slightly higher to cover the costs of inspections.

Many larger cities have what is called a medallion system for taxis. Generally, a limited number of medallions are issued each year or every other year, allowing only a certain number of companies to provide taxi services in that city, and there is often a waiting list of applicants. Under this system, fees can run from a couple hundred to thousands of dollars, even when going directly through the licensing agency.

However, most cities will allow the owner of a medallion to sell it, if desired -- meaning that you may not necessarily have to wait if you have enough money to make the best offer. Required Insurance According to the laws of most states, any vehicle on the road must be adequately insured.

This goes double for taxicabs.

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Most states leave it to local taxi service licensing agencies to set the insurance minimums required to obtain a license, but even if there is no required level of coverage, it is in your best interest to purchase a policy beyond the bare bones minimum.

Additionally, consider unemployment or self-employment insurance, medical insurance and life insurance, especially if you will have employees. This coverage can raise your monthly premiums, but may be worth it in the long run to keep drivers healthy, happy and productive.

Gas Cost While you won't technically be using any gas until you receive your first client, it is a significant cost that should be factored into your financial planning at startup. Evaluate the gas mileage your vehicles get and the area your taxi service will operate in to prepare a rough estimate of how far you can go on one tank of gas.

Factor a buffer into your startup budget to pay for at least two or three tanks of gas per vehicle for the first month or two, based on the current gas prices in your location.

Other Incidentals You should also be prepared in advance for repairs, regular mechanical maintenance and cosmetic maintenance, such as washing, waxing and vacuuming, on your vehicles.

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While you don't necessarily need to have cash on hand, you should at least have a plan for obtaining any funds you might need, such as a small business loan or line of credit.

Depending on your resources and how big you want to start, you may also choose to invest in renting or purchasing a garage in addition to your business office -- not only will your cars remain in better condition when stored indoors, but you may also be able to hire an in-house mechanic to perform maintenance and repairs at significantly less cost.Whether on business or pleasure, or both, you will always have plenty of things to do and see in Johor Bahru (JB).

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