Taxi Driver Online

Hi folks,

I’ve started the Knowledge in Glasgow and whilst the amount of information to remember is as vast as I imagined, I was hoping this win the know could offer me some advice.

My intention is to buy a black Hackney and plate and double shift it with two drivers. I’m doing the Knowledge as it’s something I want to have if I am going to have a Hackney in the family. I’d be grateful for some more information on the following:

*Ive been told to expect around £200 per week per day shift and £250 for a night shift with the drivers paying for their own fuel. Does this sound about right and would these figures apply to a full 7 days?

*I also wanted to find out more about the cost of radio hire from Glasgow Taxis (I don’t want to bombard the staff with multiple questions initially so I’m keen to educate myself on here as well). Would the above prices include me paying for a radio from Glasgow Taxis and does anyone know the current cost of this?

*In terms of other costs I need to consider, am I correct in saying that these are essentially maintenance and insurance? One chap I spoke to advised that the insurance could be as much as £4K as a new driver but that some providers might transfer my existing car no claims to significantly reduce the annual cost to me.

*I think the cab is put through a sort of MOT every six months at around £60? I’m not sure if I’m right with that or not.

Is there anything else I haven’t considered? All constructive feedback and advice is very much appreciated as I really want to make a success of it.

Thanks very much in advance,

Martin

Check the cost of insuring 2 named drivers first.............might cost more than the plate

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Of all the things ive lost, i miss my mind the most

£20-£30k?

double shifting is not a given as every second cab you see has a sign on the back window saying NIGHTSHIFT DRIVER REQUIRED

weigh ins circa 200-230 dayshift,230/260 nightshift,normal shift pattern is 6 shifts per week and yes the drivers do pay for their own fuel

radio around 95 per week and the above figures are for a radio cab non radio deduct about 45 per week per shift

insurance you need to shop around as quotes can be very different from one company to another,but there are only a few companies who do cab insurance as its regarded as a niche market and a lot of the big guns wont touch taxis with a bargepole
the cab gets 2 tests per year its a lot more strict than the mot test,around 60 if your cab passes first time,if it fails then about 37 per re-test,which you must keep doing till the cab passes

there will always be more that you havent considered,airport tolls,vehicle washes every night,tyres,punctures,electrical problems,etc,etc,etc

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i started out with nothing and ive still got most of it left

at lot closer to 20 than 30

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i started out with nothing and ive still got most of it left

that explains why so many people have said buy private hire cars and rent them out instead!

Thanks very much - very informative. I have noticed a few Glasgow taxis with the night shift adverts so I have reflected on that too. A few drivers I’ve spoken to have spoken very positively about the work they get from schools and suchlike...I know that the same driver delivers items to my place of work every single day. How do drivers secure these higher paying jobs?

I can't believe that you are wanting to go into the but a car and get others to do the work without any experience of the industry it's self.
For what it is worth here is a gem from one of my former employers. It was true then and it is still true today and You should reflect on it seriously before parting with any of your money. This is the same for all types of business.
"If being in business was easy, then everyone would be doing it."
Think hard before entering a business when you have no first hand experience and you are relying on advice from some who could well be your competitors.

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Grandad,
To support my charity text MAYORWALK to 70085 to donate £5

I’m savvy enough to understand why some drivers who have dedicated their life to the taxi trade would be annoyed by the idea that someone like me would seek to profit from the trade without firsthand experience.

That said, I don’t feel that the ultimate success of the business would be determined by whether or not I have a wealth of experience myself. Obviously, firsthand experience would be invaluable but financially, it would make no sense to give up my day job. On that note, were I not keen to drive myself, when I can, and learn more about the sector, I wouldn’t have started the Knowledge - something I am committed to.

My ultimate motivation is perhaps a bit different from someone who has money to throw at something like this. I’m actually looking to make this a success to support a self-employed family member who, due to illness, can no-longer dedicate the time required of their business and so a Hackney in the family has the potential to provide an additional income that will ease some pressure if that makes sense. So whilst it’s perhaps not the easiest business to get involved in, it’s one I feel I can make successful if I speak to the right people over time and do my due diligence.

I’m undoubtedly relying on the advice and guidance of those who know what they are talking about - I would feel neither comfortable nor confident parting with such a sum of money without doing my homework and finding out as much as I can about income vs expenditure.

In terms of it being an easy business, I would say I’m becoming more clued up on the associated difficulties but I continue to learn each time I speak to someone in the know.

and only you will care for your car, your hire drivers wont give a toss about it

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Of all the things ive lost, i miss my mind the most

i dont touch the school work with a bargepole,25% discount,no thanks,if i wanted to do charity work id volunteer at oxfam at the weekend,most of the schoolwork is absolute dross that the private hire dont want or cant cover,high payng jobs usually end up in the domain of the arse lickers and brylcreem boys

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i started out with nothing and ive still got most of it left

Thanks for your honesty!

Another expense I hasn’t considered...do the majority of Glasgow’s taxis have a card machine? I assume this is rented through Glasgow Taxis? Must a radio and card machine be rented together and how much is the card machine?

Whilst it would be significantly cheaper to simply offer a basic cab with no radio etc. I suppose the enhanced earning potential to prospective drivers is a no-brainer.

You can get an iZettle for £30 + vat, so don't worry too much about that.

In relation to the general thread I think if you have got spare cash, doing what your doing isn't a that bad an investment, provided you can get enough good drivers, and the council keep taxi numbers restricted.

The numbers jozefbloggz put up would lead you to recoup your investment within two years, if everything went well.

But as he mentioned getting good drivers, i.e. ones that pay the rent on time and look after your motor, isn't guaranteed. Although I suppose if you adjusted your rent downwards that might help.

I had a discussion with a mate recently who has a large number of houses he rents out to students. The returns he would get on having ten taxi plates compared to a house with seven students (approx £450,000 each), is interesting.

In short he could earn 3 or 4 times more investing in the taxi plates. I know it's comparing apples to oranges, but interesting none the less.

But as he knows my views on restricting taxi numbers, he is keeping his money in property.

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IDFIMH

Please leave school runs alone, so i can have more and quote more

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Of all the things ive lost, i miss my mind the most