Is taxi driving a lucrative business?

[Imran_Noori]

Today, many people use taxi cars in order to travel from one place to other places and I think this business always has a high demand and it is lucrative.

This business could be lucrative in two ways:

1. For the owner of taxi who rent his taxi.
2. For the driver who is working with the taxi.

 

[Riberet19]

In my city there are many people who have become quite rich by becoming taxi drivers, but it is due to the large amount of tourism in my city, and it is very demanded, I think it depends on your city mainly and tourism among others.

 

[Salt]

I won't say lucrative but its a good way to make money and you can make better as compared to a clerk job

 

[Kane]

With the evolution of ride-sharing companies, I do not think the taxi business is profitable anymore. Unless your taxis drive for any ride sharing company or unless you have your own ride sharing company, the taxi business is no longer lucrative.

 

[glitch]

With Uber and the like, it is quite hard to compete these days as these sorts of companies will try to undercut what taxi businesses charge. I think in certain places, a taxi business can still work but you have to be away of competition.

 

[Good-Person]

In my city there are many people who have become quite rich by becoming taxi drivers, but it is due to the large amount of tourism in my city, and it is very demanded, I think it depends on your city mainly and tourism among others.

There was a time when many taxi drivers used to earn a lot. However, now services such as Uber have replaced them completely and now I can hardly find any taxi nowadays. It seems like their business has ended now completely as things are changing and evolving.

 

[Riberet19]

There was a time when many taxi drivers used to earn a lot. However, now services such as Uber have replaced them completely and now I can hardly find any taxi nowadays. It seems like their business has ended now completely as things are changing and evolving.

Where I live taxis are still used, although there are also other services such as the one you mention, Uber, but taxis are still used a lot since my city is a tourist city, and taxis are widely used, but generally I think that little by little they will lose more and more relevance due to new business models such as Uber and others similar that are coming to the market, like for example Enterprise or Blablacar.

 

[Grant]

Depending on the city or location, yes it can be. But these days you have people being Uber drivers or Lyft drivers, who do what taxi-drivers do already. It's hurt the taxi business if anything, as most people just get an uber or lyft now days and most have forgotten about traditional taxi services. I imagine in really big cities they still thrive, but in most other places I imagine being an uber or lyft driver could pay better.

 

[Good-Person]

Where I live taxis are still used, although there are also other services such as the one you mention, Uber, but taxis are still used a lot since my city is a tourist city, and taxis are widely used, but generally I think that little by little they will lose more and more relevance due to new business models such as Uber and others similar that are coming to the market, like for example Enterprise or Blablacar.

I think that the trend of taxi is still quite popular in many places, especially tourist spots. This is because not all the people might be able to use services such as Uber while they in a foreign country. This is why certain taxis could still be found in many tourist place in my country as well.

 

[Ja sa bong]

Yes, taxi driving business is very lucrative. It's the business which I'm into and I'm making money from it. I get booking every day and I make sure to complete all my rides. There are some of my customers who tips me after their ride is completed because of how smooth my driving is.

 

[Heatman]

Transportation business is very lucrative in the part of state I'm staying which is Lagos Nigeria. It's the populated state in my country which makes transportation business very good here. Drivers here who drive taxi and buses are very rich. Their services are always high in demand 24/7.

 

[jasimi]

Where I live taxis are still used, although there are also other services such as the one you mention, Uber, but taxis are still used a lot since my city is a tourist city, and taxis are widely used, but generally I think that little by little they will lose more and more relevance due to new business models such as Uber and others similar that are coming to the market 8 seater taxi to Gatwick, like for example Enterprise or Blablacar.

I want to start my own business and I want to know if its ok investing in taxis and how profitable it is. The taxis will be operating in the Limpopo province or Joburg to Polokwane. From my research have found out that a permit for the route licence might costs around 45,000 for 5 yrs. Please anyone with good knowledge about taxi business your advice will be appreciated .Getting a job is not easy these days so the future for us new generation is to start your own business or be unemployed which is not an option. Thanks

 

[Frank]

Transportation business is very lucrative in the part of state I'm staying which is Lagos Nigeria. It's the populated state in my country which makes transportation business very good here. Drivers here who drive taxi and buses are very rich. Their services are always high in demand 24/7.

While transportation is a lucrative business, one needs to understand the need to be disciplined when running such business. One of the key angles to having such a business is that you can make more money once you are able to control how you spend your money.