Monthly Archives: May 2017

The Keys to Running a Successful Taxi Operation

Running a taxi firm comes with many unique challenges. As with running any type of business, you have to balance several things at once to make sure you stay competitive and grow your reputation.

Below are some of the fundamentals of running a successful taxi operation.

Finding the right location for your head office

Choosing the right premises for your head office is extremely important since it’s where your entire operation will be run from.

Ideally your head office will be –

  • In a good location
  • Secure
  • Affordable

Getting insurance at the best price

In order for your taxi firm to be successful, you need to keep overheads to a minimum. Cutting the cost of your taxi insurance is one of the best ways to do this.

Below are some good ways to keep the cost down.

  • Get a lot of quotes – Getting a lot of quotes is one of the most fundamental ways you can save money on taxi insurance. With so many insurance comparison services out there now, there’s no good reason not to do this. It’s always recommended that you get your insurance from a specialist provider too, since they’ll be able to offer you a tailored policy that’s suitable for your business and at a competitive price.
  • Make your vehicles secure – Another excellent to keep insurance costs down is by making your taxis as secure as possible. This means installing trackers/immobilisers/in-car CCTV. Anything you can do to make your vehicles and your drivers safer will help to minimise insurance costs so it’s worth the initial investment in security measures.

Finding the right drivers

Finding the right drivers for your taxi firm is important for few key reasons –

  • They help or hurt your company reputation – This point is extremely important. Your drivers are essentially the face of your business since they’re the ones who will be interacting with your customers. Therefore you want to hire friendly, reliable, competent drivers who are going to create the best possible image for your company.
  • They will affect the cost of your insurance – Another key reason that hiring the right drivers is so important is because they will affect the price you’ll pay for your taxi insurance. It makes sense when you think about it since inexperienced, unreliable drivers are much more likely to be involved in incidents where a claim will be made on the policy.

Insuring a Fleet of Vans

If your business makes use of vans then you’ll already know that insurance can be one of the biggest expenses. If you have separate policies for your vans, even if you only have 3 or 4, then you could save yourself a lot of time and stress by getting them insured together as a fleet.

Benefits of fleet insurance

Below are some of the biggest benefits of fleet insurance –

  • It’s cheaper – One of the biggest benefits of fleet insurance compared to insuring vehicles separately is that it usually works out considerably cheaper. Insurance companies prefer when you spend more upfront so getting a larger policy that covers all your vehicles compared to separate policies for each works out better for everyone.
  • It’s easier to manage – It makes sense that getting one policy that covers all your vans will be easier to manage compared to insuring them under separate policies. Running a business already comes with enough headaches so at least insurance doesn’t have to be one.
  • Insure multiple types of vehicles – Maybe your business has a mix of vans and cars that you want to insure together. The beauty of fleet insurance is that it’s very flexible and enables you to insure multiple vehicle types of varying values all under one policy.

Keeping costs to a minimum

  • Get multiple quotes – Sites such as Cheap Fleet make it very easy to get van fleet insurance quotes from specialist providers. By getting quotes from many providers, you are able to easily compare them and choose the one that’s the best value for money.
  • Make your vehicles secure – Making your vans secure is one of the best ways to save money on fleet insurance. By lowering the chance of your vans being broken into or vandalised, your insurance provider will be able to offer you a quote at a lower rate.
  • Hire reliable drivers – Another key way to minimise what you pay for van fleet insurance is to hire reliable drivers. Hiring drivers who have a good amount of experience, are over the age of 25 and who have a clean driving history will go a long way to reducing what you spend on your insurance.
  • Pay for the policy annually – Most people choose to pay for insurance monthly to help spread the cost and reduce what they’re paying upfront. However if you are able to pay for your policy upfront then you’ll be able to negotiate a significant discount.

A Guide to Buying & Selling Cars Successfully

If you have an entrepreneurial spirit then there are countless ways you can make money. One of the best ways to make money if you have a passion for cars is by buying and selling them. Although buying and selling cars for a living certainly isn’t easy, if you’re good at it there’s great scope for growth and long-term success.

In the guide below you’ll find information on the most important practical considerations as well as some of the biggest keys to success.

Practical considerations

Below are some of the main practical things you’ll need to take care of in order to make your venture a success –

  • Premises – Although you can certainly start out selling on a small scale from your home, in order to scale your business properly, you’ll definitely want to invest in a premises sooner rather than later. When it comes to finding a good business premises, there are certain key things into consideration. The most important of these are location, security and cost. Weigh up these factors and decide if a location is right for the type of business you want to run.
  • Insurance – When you’re dealing with a lot of cars on a regular basis, you’ll need to get a motor trade insurance policy to ensure you’re properly protected. Motor trade insurance will protect you for road risks as well as fire, theft and liability claims, depending on the level of cover you get. It’s always a good idea to get multiple quotes when you’re looking for motor trade insurance to ensure you get the best deal.

Keys to success

Below are some of the best ways to succeed when buying and selling cars –

  • Know where to buy – When buying and selling cars, the key to making a good profit is buying low and selling high. This principal of course applies to most kinds of businesses that sell products. In order to get cars at the best price, you should diversify where you buy from. Buying privately is always a good bet but you shouldn’t neglect other options, such as car auctions too.
  • Make security a priority – When you’re selling something valuable such as cars, you need to make security a priority. You should take steps to make your premises as secure as possible, including having an alarm, security lights and CCTV installed.