Anonymous wrote:
Plates may lose their re-sale value but they will still earn money for you if you work them.
If plates are going to lose their value what’s the fackin point of investing 50 or 25 grand.
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More cabs may mean less money or longer hours for the same money,
Oh you endorse what I said, lol. Simple economics isn’t it. Now you’re learning.
I asked Nigel if he was earning more money before his council de restricted numbers and not surprisingly he said he was earning far less for the same number of hours since de restriction. So you have it straight from the Horses mouth, don’t ever forget it.
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So what does £50k get you in the way of income ? A plate is entry ticket to the market, an established demand built up over years.
There’s that 50k again lol
It’s what you are prepared to pay that is the entry ticket into the “restricted market” the piece of paper is what you are buying. In over 55% of the country you don’t need to pay for that little piece of paper.
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Plates have no value only a price, the original question was about investing 25K that opens even fewer doors, I took the figure of £50k to include vehicle, insurance etc, on the road price as such.
Well blow me down with a wet kipper. You mentioned 50k with the hope that we would read your simple mind and extract from it that what you really meant to say, was that 50k was inclusive of Road tax, and Insurance. We couldn’t extract the etc part from your brain because we are not quite sure where to find the cells that contain the “etc” information. Maybe you can enlighten us on what the etc is.
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If you cannot raise £50k you should not consider any business venture.
lol why does this 50k keep cropping up? You said you never mentioned 50k, in later posts. Getting selective are we?
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Having paid £25k for a plate you should have recovered that within the first year.
You go from the sublime to the ridiculous. Its alright paying 25k for a plate but most of us need something to attache it to. I suppose you’re going to run around town waving a plate “shouting for hire”.
When you buy a Cab to go with your plate come back and re evaluate your financial appraisal. Then tell us what Authority you intend to work in and perhaps we can get an accurate estimation from someone in the forum who has knowledge of the potential earnings of that Authority. Then and only then, will we be able to calculate the potential gross earnings and the profit and loss attached to the investment you have just ventured into.
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I cannot believe any taxi grosses less than £35k per year in any area on a full time basis.
Well if you can’t believe that then your either not very bright or you don’t know the cab game very well. Go and visit Rosendale and ask some of the Cabbies in the local villages how much they earn per year and you will get your answer.
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The adult minimum wage is aroud £200 per week, would anyone bother to work full time for less and on this forum many drivers claim to take in excess of £200 every Saturday night.
Hours my friend, it all boils down to the number of hours you are prepared to work. The earning potential differs from location to location but at the end of the day it all amounts to how many hours you work as to how much you earn, you should know that you being a cab driver. I am assuming you are a Cab driver. What’s your registered nick anyway?
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You are buying a potential income when you buy a plate. Forget the re-sale you are looking for income not growth.
You don’t need to buy a plate to earn a living. My day driver doesn’t have a plate and he earns as much if not more than I do. So where’s the logic in buying a plate these days?
Drivers don’t buy a plate in over 55% of the country so your argument doesn’t hold water.
JD