Taxi Driver Online

Does that include radio rental for PH?

_________________
IDFIMH

No these are the costs for running a taxi, I would think a private hire would be cheaper, even with radio rent.

Maybe in areas that mandate WAVs.

But for areas that allow saloon HCs I suspect not.

_________________
IDFIMH

Go to What Car or Autocar or similar webiste, and look how much it costs to run a particular car per mile.

Then you have to add a few/several more pences per mile to take into account added insurance required for h and r, an extra MOT per year, additional PH/Hackney driver and vehicle licences and annual inspection.

Circuit fees/radio rent (if any), additional bits and bobs like wipers, air fresheners, car washes, stickers/decals (if required by council), etc.

I think for anyone coming into the trade they will be running at a rate that leaves them near or below the national minimum wage, after one takes the various and often large running costs into effect.

If you work long and unsociable hours, and look after your punters well, then in time things will get better. And the longer you stay the easier I thikit gets, and possibly you could earn a reasonable living.

But you must ensure you don't go skint before it gets better.

_________________
IDFIMH

I did post a link on here to a spreadsheet that could have told you the answer, but it was a long time ago. I remember finding out my tyre costs were about .004p a mile. Take the cost of a set of tyres, say £100 a tyre, so that's £400; how many miles you get from a set of tyres, say 40,000 miles if you're careful. So that's £400 every 4,000 miles, so if you do only 20,000 miles a year your annual tyre cost will be £200. So the answer is £200 divided by 20,000. Hey presto, tyre cost per mile. Easy innit?

Basically, if you can't work out your running costs, you shouldn't be in business.

That's one of the problems with the trade, to a degree we are in competition with fellow drivers that have no idea how to make a long term profit.

Like driving on a motorway, no matter how fast you drive someone will always overtake you, in our trade no matter what you quote for a longer journey someone will always undercut you.

Those that do the undercutting are the ones running two bob cars working on a two bob firms, but sadly punters in the main don't really care.

_________________
IDFIMH

Yes my figures were based on wavs, the captain was pretty spot on with his pound though.

I work for myself, run a 2009 Volvo v70 on PH,
38500 miles (Passenger & Dead Miles)
1200 miles (Other Business Miles)
2900 Private Miles
Total 42600 miles
Total business expenditure= £14077

33p / mile

Depreciation = ?

_________________
if you cannot be yourself, then who can you be.

A 2009 Volvo doing 42,600 miles a year is already worth nothing.

_________________
Grandad,

Any car/cab at that stage of its life is probably worth its weight in gold. Having said that, there is as you are aware, depreciation from the price paid. Depending on your/my age (retirement or not is the case) then one at some time or another is going to have to shell out = depreciation?

_________________
if you cannot be yourself, then who can you be.

yes this figure includes Depreciation at my (25%) Not the 8% allowed by HMRC. The 8% is a joke but I normally run my car for 2 years so probably claim 62% the following year(disposal of capital assets). I try to pay as little tax as possible, sometimes paying for My insurance up front on 4th April.
It can sometimes be worth changing to fixed HMRC allowances (45p for first 10k then 25p) can work to your benefit. At the above mileage I could claim £11300 vehicle expenses and not have to bother with Vehicle receipts!

Thought you referred to yourself as a licensed private hire operator/driver not as a fly by night volunteer driver who would be able to claim the 45p and 25p mileage allowances.

Horses for courses. Been around 32 years in the Taxi trade. Formula for success is :-
1) Move into a rural area.
2) Do as little as you need to.
3) Maximize your takings.
4) Minimize your expenditure.
5) Always Smile.

Result = Success!