When we think of a taxi business, all that comes to mind is that big yellow vehicle with a taxi board on top that carries people from point A to point B. But there are more startup ideas when it comes to the Taxi industry.
In this article, we will discuss the five most lucrative taxi business ideas that you can start with low investment.
Airport taxi
People travel to airports all the time the reasons including vacations, business meetings, and emergencies. A business model catering to all the passenger groups traveling to and from the airport will be a great business plan. Moreover, since your business concentrate and targets only one market it will reduce and regulate the competition as well.
(do check their article for Airport taxi business market analysis)
Taxi for disabled people
This market is still untapped and many top companies don’t have a proper business model or feature to handle this category of people. So, if your business model and the vehicle can make the trip easy for these people you will definitely be early to market and there is a large potential for profit as well. Some of the key points that you must know before you go into this business are.
- A special vehicle(customized van, maybe) should be used for transporting this group of people for example if the customer is in a wheelchair then your vehicle should have a ramp.
- Additional capital might be required for this taxi business.
- The demand for this market is not as high as in the normal public taxi service.
Limousine service
People need luxury transport to go to parties and big events. Though there is considerable competition in this business, still you can use your innovation to penetrate to market and be profitable. For example, you can introduce attractive price packages to use your car for the after-party, this is just one of the scenarios.
School shuttle
School shuttle service is one of the in-demand services in any country and region. Competitive pricing is the most common way to get into this market and compete with other players. Below are some of the points you need to consider before starting.
- This is one of the most competitive markets so you should have a strong business plan to sustain.
- Comparatively the investment is low you can even start with one vehicle.
- Safety and trust are the main features to consider.
Healthcare Taxi Services
This market is fairly new to the public and made some heads turn during the pandemic time. Basically, you target sick people traveling from one place to another. Below are some points to note before getting into this business.
- The passenger grouping should be done carefully meaning these are people who are sick and need to travel from one place to another not people who need immediate medical attention.
- Most elderly people will fall into this category so your service should be focused on their comfort.
- This is comparatively a small and new market but is projected to grow in the near future.
Conclusion
The taxi business has been there for centuries and continuously growing. Lots of new markets are evolving in this business and will continue to grow at an exponential phase. This whole industry collectively operates under one concept which is “People need to move”.
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