The black cab is a famous transportation option in the UK. Though it is most commonly associated with London, there are black cabs in other cities like Edinburgh as well. Just as there are multiple cities that you can work as a black cab driver, there are multiple ways that you can start and operate a black cab business!
Work with your strengths and look outside the box, because with these top options and business tips you can start your own black cab business today:
Getting Your Ride
There are multiple ways to get and use a black cab. Most black cab drivers own and drive their own vehicles. Buying new black taxis for sale can be expensive, but ultimately it will mean keeping costs under your control. With proper maintenance you can use this vehicle for longer, and for less overall.
If you cannot get a new vehicle, you can either buy one used, or you can rent one. There are companies and even individuals that rent out black cabs to licensed drivers who don’t have a vehicle of their own. Always make sure that you are working with an approved proprietor. In London, for example, there is an entire process an individual or company needs to go through, and many standards they need to keep, in order to rent out black cabs.
Working Privately, or Managing a Fleet
You have two main options when it comes to owning your own black cab business. You can either work for yourself and have a business of one or you can manage other drivers. It is important to note that when it comes to black cabs the drivers will be working for themselves, and you will be supplying them with the vehicle.
Passing The Knowledge
If you want to work for yourself then you will want to pass The Knowledge. It can be expensive to train and study for The Knowledge, so be prepared for that in advance. For example, if you are working to pay off the costs it can take you longer than the average 2 to 4 year period that most cab drivers take to pass.
The Knowledge is a powerful tool to have as a driver, as it requires you to essentially memorize all of London’s streets. This way you can, by memory, get your passengers to where they need to go as fast as possible.
Becoming an Official Proprietor
If you want to rent out black cabs to drivers, then you will need to apply to become an official proprietor. This is because black cabs have very strict regulations you will need to meet and there will be regular tests to ensure that your fleet meets them.
Cab drivers who don’t own their own vehicle will then go to you to rent your cab either indefinitely, or until they can afford their own. You will typically earn between £150 to £200 per week when you rent out your cab.