Taxis are one of the most popular modes of transportation in the Philippines. In fact, there are more than 500,000 registered taxis in the country. If you’re looking to start your own taxi business in the Philippines, then you’ve come to the right place. In this article, I will give you a step-by-step guide on how to start a taxi business in the Philippines.
Easy Steps for start taxi business in Philippines:
1). Requirements for starting a taxi business in the Philippines
The first step is to consult with the Land Transportation Franchising and get their requirements. A “For-Hire” or “Public Utility” taxi will have different criteria than the other.
2). Get the necessary permits and licenses
After you have consulted with the LTFRB, you are going to be required to get the essential permits. and licenses from them. These include a Certificate of Public Convenience (CPC) for “For-Hire” taxis and a Certificate of Registration (COR) for “Public Utility” taxis.
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3). Choose the right vehicle
The next thing you need to do for your taxi business is select an appropriate car. You will need to consider the type of vehicle, as well as the size and capacity. The most popular type of taxi in the Philippines is the “sedan” type, which can seat up to 4 passengers.
4). Get your vehicle insured
The moment you’ve settled on the ideal automobile, you will need to get it insured. This is a requirement of the LTFRB, and it will protect you in case of accidents or damages.
How much does it cost to start a taxi business in the Philippines?
The cost of starting a taxi business in the Philippines will depend on a few factors, such as the type of vehicle you choose, the number of vehicles you plan to operate, and the permits and licenses you need to obtain. However, you can expect to spend at least 500,000 PHP (approximately 10,000 USD) to get started.
How to find drivers and employees for your taxi business?
The best way to find drivers and employees for your taxi business is to post ads in newspapers or online. You can also try contacting driving schools in your area, as they may have qualified drivers who are looking for work.
It’s important that you take the time to screen and interview potential drivers, as they will be representing your business. Verify their driving histories and that they possess a current, legal driver’s license before allowing them to drive.
What kind of marketing and advertising should you do for your taxi business?
You may use a variety of marketing and advertising methods to promote your taxi service. Most populars:
- Social media marketing.
- Traditional advertising (newspaper, radio, TV).
- Direct marketing (flyers, brochures).
- Referral marketing (customer referral programs).
The best way to find out what marketing and advertising strategies will work best for your taxi business is to experiment with different techniques and see what produces the best results.
How to manage your taxi business finances?
The best way to manage your taxi business finances is to keep track of all your income and expenses. This will help you see where your money is going and identify any areas where you can save money.
It’s also a good idea to set up a separate bank account for your business, so you can easily track all your business transactions.
Finally, you should create a budget for your business, so you can plan your finances and make sure you are not overspending.
Conclusion:
I hope this guide has been helpful in giving you an overview of how to start a taxi business in the Philippines. Starting a taxi business can be a great way to earn a good income, and it’s a service that is always in demand.