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Taxi Business Plan

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Executive Summary executive summary is a brief introduction to your business plan. It describes your business, the problem that it solves, your target market, and financial highlights.">

City Taxi is a San Francisco, CA based company, whose mission is to provide reliable, timely, and safe cab services by using complete, in-car credit and debit card access, along with computer-aided dispatch. The company will establish its presence in the industry by acquiring an existing taxi cab association, Mighty Cab, a family-owned business that was formed 12 years ago.

City Taxi will provide complete taxi cab services using the latest equipment and technology to facilitate the travel of individuals in and around the San Francisco area. The company’s products and services show that we are an innovative, forward thinking company that recognizes the need to move with ever-changing customer needs. At City Taxi, our philosophy is one that emphasizes service, and a realization that effective communication is a key component in our business. The company also realizes that, in a competitive environment, flexibility and professionalism maintain that leading edge.

The company has drivers and employees that are helpful, courteous, and fully trained on the use of the computer dispatch system. As an added safety measure for both drivers and passengers, City Taxi cabs are fitted with Global Positioning Systems (GPS), which enable the cabs to be tracked or located in an emergency. All City Taxi cabs will be clean, well maintained, and inspected regularly for safety and comfort.

The company’s strategy is to build reputation and market share by establishing our business offering as a viable alternative to existing taxi cab services in the area. The company’s goal in the next year is pursue an aggressive marketing campaign and from that, penetrate at least 65% of the market share. The company’s long-term goal is be the top rated ground transportation company in San Francisco.

The company’s emphasis is on the dispatch, mobile data, and credit/debit card markets of the taxi industry. In aggregate, these markets are believed to represent potential sales in excess of $119 million as of March 1999.  Within these markets, City Taxi will focus on the more lucrative credit card/debit card segment.  This segment, when introduced into any area, has started out slow but over a three-year period has increased by 20% each year in Maryland and Virginia, and by 25-35% in New York each year.

Companies with whom City Taxi competes are Transportation, Inc., Capital Cab, Yellow Cab, and Diamond Cab. Their weaknesses are that they do not have the credit/debit card payment option, and some still use the radio dispatch system. The company has a competitive advantage, however, because our technology is unique to the taxi industry in San Francisco. The GPS will enable the company to provide timely service by giving an accurate estimated time of arrival (ETA). The credit/debit card feature will give customers convenience and privacy during the transaction period.

Reliable communications are essential under all circumstances in this business. As such, City Taxi will use the KDT 5000 system.  The KDT 5000 system design provides multiple levels of reliability to assure communications will be maintained under the most rigorous condition. The company will also run a state of the art call center that will be established by Rockwell International.

The company is seeking $2.5 million of financing to fund the acquisition of Mighty Cab Association and its initial operations. This funding will cover the purchase of Mighty Cab, marketing, purchase of extra vehicles, software, and hardware. Projected revenues for 1999 to 2001 are $200,000, $1.5 million, and $2.2 million, respectively.

1.1 Objectives

The company’s goal in the next year is to pursue an aggressive marketing campaign and from that, penetrate at least 65% of the market share. The company’s goal in the next two to five years is be the top rated ground transportation company in the San Francisco Metro Area by continuously monitoring, evaluating, and following up on customer call-ins.

Key components of City Taxi’s initial strategy can be summarized as follows.

Establish Relationship with Rockwell International. The company is currently working to establish and develop a working relationship with Rockwell International. This will enable City Taxi to lock into the many services that they offer including, but not limited to:

• Continuous improvement

1.2 Mission

The mission of City Taxi is to provide reliable, timely, and safe cab services by using complete in-car credit/debit card access, along with computer aided dispatch.

1.3 Highlights

Highlights of City Taxi

• Exclusive rights to software . City Taxi has the exclusive rights to the latest taxi cab software in San Francisco.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Legal Business Description:

City Taxi was founded in 1997 in San Francisco, California, by Mr. Johnson Taylor. The company is a California C-Corporation under the name Patriot, Inc. d.b.a. City Taxi.

2.1 Company Strategy

The City Taxi’s strategy is to saturate the market with television ads depicting the company as a premier taxi service. The company will leverage the newest in car technology to dominate the credit card segment of the market. City Taxi will dominate the market because no other company has this unique feature.

The company’s strategy is to build reputation and market share in our target market by establishing our business offering as a viable alternative to existing taxi cab services. City Taxi intends to get the confidence of customers and establish itself as a company that provides superior customer service by using up to date technology to provide timely and reliable services.

2.2 Company History

As can be seen in the chart and table below, the company performed well its first year, but sales have not been fully actualized. That is the intent of this plan: to increase sales by utilizing our competitive advantages and by the acquisition of a rival taxi company.

• Adequate facility . City Taxi realizes that it is difficult to locate a facility with the space required for all operations. City Taxi has found a facility with ample space for all operations. There is enough room to set up repair facilities, and there is adjacent space to store vehicles.

2.4 Value Proposition

City Taxi’s products and services offer the following advantages to customers:

• State-of-the-art Call Center . City Taxi’s call center allows us to provide a timely service by picking up the closest vehicle when a call comes in. When a call comes in, it is put into the system, the system sends a message to dispatcher, the system then tags the closest vehicle in the zone, neighboring zone, on the way to the zone, or the dispatcher can call.

City Taxi provides taxi services utilizing computer dispatch to help with timely pick up and quality customer care. The software and hardware systems used by City Taxi give customers convenience by allowing them to use credit and debit cards in the taxi.

3.1 Service Description

Taxi Cab Services

The taxi driver is often the first contact that a visitor has with San Francisco and as such, City Taxi realizes the importance of first impressions and customer care. The company’s customer-oriented philosophy and its commitment to service are reflected in the careful selection of drivers and the comprehensive training program. Customers can expect the following high standards when they travel with City Taxi:

• Most practical route taken

Maintenance/Repair Services

This division of City Taxi deals with the pure maintenance of vehicles. Drivers will be charged at discounted rates for tune-ups, wheel alignments, and other repairs.

3.2 Technology

GLOBAL POSITIONING SYSTEMS . City Taxi has a unique Global Positioning System (GPS) that pinpoints the nearing driver thus allowing the driver to give an accurate estimated time of arrival.

RADIO SYSTEM . Reliable communications are essential under all circumstances. City Taxi will use the KDT 5000 system design because it provides multiple levels of reliability to assure communications will be maintained under the most rigorous condition.

CREDIT/DEBIT CARD SYSTEM . City Taxi will use the in-car credit/debit card system, which is a new market segment for the taxi industry in San Francisco. This involves customers using their debit cards in any City Taxi cab with approval being given instantly, eliminating the need to dial in to head office for approval numbers. By using this system, the company will be addressing the need for convenience and reliability. City Taxi also features a computer-aided dispatch system which will be represented under the Patriot name. The company is currently in the process of making Patriot a trademark. The company has also applied for a license to run a 490 narrow band frequency and voice data transmission. From the perspective of customers, the advantage of City Taxi’s products and services is the high level of technology, which leads to superior customer service. In contrast to competitors, City Taxi’s products and services offer convenience. The key pad and swipe machine are built into the back seat, thus giving the customer privacy. Whereas competitors have to call in a credit/debit card transaction for approval, our customers will be able to get on-the-spot approval before the driver even pulls over.

3.3 Future Services

City Taxi plans to respond to market needs by following up with taxi plus (wheelchair accessible taxi vans with credit card access inside) with the next 5 years. City Taxi believes it can capture this niche and a gain in overall market share. Additional plans for next generation products and services include rent to own options for our drivers. Introduction of the company’s next generation product and services is expected to be within 12 months.

Market Analysis Summary how to do a market analysis for your business plan.">

The company’s emphasis is on the dispatch, mobile data, and credit/debit card markets of the taxi industry. In aggregate, these markets are believed to represent potential sales in excess of $119 million as of March 1999. Within these markets, City Taxi will focus on the more lucrative credit/debit card segment. This segment, when introduced into any area has started out slow, but over a three-year period has increased by 20% each year in Maryland and Virginia, and by 25-35% in New York each year.

The company believes that the major future trend in the industry will be complete credit card access for consumers. The International Taxi Livery Association (ITLA) forecasts a very steady growth for the taxi industry in the next four years.

Market Size Statistics :

4.1 Market Segmentation

Customers and Target Markets

City Taxi’s focus will be on the credit card market with target customers in the low to mid income range in the Metropolitan San Francisco area. The target customers are motivated to use our services over that of competitors because of the convenience and quality associated with our services.

Customer Buying Criteria

We believe our customers choose our cab service based on the following criteria:

• Convenience . This involves the credit/debit card feature.

4.2 Service Business Analysis

Market 1-Taxi Cabs

This category covers establishments engaged primarily in furnishing passenger transportation by automobiles not operated on regular schedules or between fixed terminals. Taxi cab fleet owners and organizations are included, regardless of whether drivers are hired, rent their cabs, or are otherwise compensated.

Industry Snapshot

Organization and Structure

Most taxi companies followed a similar organizational pattern. Managers, sometimes the company owners’ ran the business, hired drivers, and performed other administrative duties. Dispatchers took calls and assigned cabs to passenger locations. The position of dispatcher once represented a promotion awarded to experienced cab drivers, whose familiarity with the city best qualified them for the job. However, the increase in computer-based dispatching in the early 1990’s prompted cab companies to favor computer skills over specialized knowledge of local geography when filing the dispatcher position.

Regulation of the U.S. taxi industry varied from city to city. While almost all cities had some form of licensing requirements, larger urban areas had the strictest regulations. San Francisco regulations focused on fares charged to customers, with rates assigned to designated zones of the city.

Current Conditions

In 1998, 6,342 taxi fleets, consisting of 144,000 cars, were operating in the United States. On a national level, in the early 1990’s, taxi’s made approximately 2 billion passenger trips a year. Most taxi fleets were small, family-owned businesses or individual partnerships; only 5% were corporations. Almost all operated within a single municipality, and more than half of all taxi companies had fewer than 10 vehicles. In rural areas, companies tended to be extremely small, with 1 to 3 cars available for customers. In cities of 100,000 people, the average fleet size was 20 cars. In urban centers of 200,000 or more people, cab companies retained hundreds of cars and carried more passengers than the multitude of smaller companies combined.

Research and Technology

Although the taxi cab industry was not regarded as demanding in a high degree of technology, several innovations have changed the way businesses operate. Computerized dispatching–in which cabs were tracked by computer and dispatch instructions appeared only to the cab assigned to a call–allowed more efficient assignment of cabs to passengers. Computerization also helped remedy the problem of “fare stealing,” in which one driver intercepts a message meant for another and picks up the first driver’s fare.

Another development likely to change the industry’s focus involved its use of certain radio frequencies. In the late 1980’s and early 1990’s, with investment in cellular and digital communications skyrocketing, taxi cab companies found themselves in possession of a valuable asset in the form of the broadcast frequencies granted them by the Federal Communications Commission. During this time, the FCC, allowing them only two frequencies in any one area, heavily restricted the cellular telephone industry’s use of the airwaves. By the mid-1990’s, some cab-related services, such as New Jersey’s dispatcher Fleet Call, were in a strong position to become players in the burgeoning telecommunications industry.

Industry Leaders

Due to increasing decentralization in the industry, few national taxi corporations were in operation in the early 1990’s. A few companies, however, many of which were owned by larger holding corporations, had operations that reached beyond the local. Figure 1 shows the industry leaders in the San Francisco area and their share of the market.

Figure 1  Breakdown of Market Share in San Francisco .

Market 2- Taxi top Display

Taxi top display is a market from which City Taxi can gain a substantial amount of revenue.  This has been shown to be a viable means of advertising for a number of companies and it is used widely.  Figure 2 shows the growth in the taxi top display market segment from 1993.

4.2.1 Competition and Buying Patterns

Competitive threats come from existing taxi cab companies in the San Francisco area. Their weaknesses are, however, that they do not have the credit/debit card payment option, and some still use the radio dispatch system. Transportation, Inc. has computer-aided dispatch but no credit card processing capabilities. Capital Cab, Yellow Cab, and Diamond Cab all have radio dispatch with selected drivers accepting credit cards. However, these drivers do not offer in-car processing, approval must be given at the home office.

Taxi Cabs . City Taxi’s competitors include existing taxi cab companies that have been operating in the San Francisco area. Specifically, competitors include:

• Town Cab is an organization run by Mr. Pete Whitehead. The company uses the radio dispatch system and has a fleet of 800 cabs.

City Taxi’s competitive advantage is our cutting edge technology which is unique to the taxi industry in San Francisco. The GPS will enable City Taxi to provide timely service by giving an accurate ETA. The credit/debit card feature will give our customers convenience and privacy during the transaction period.

Maintenance and Repair Services . City Taxi’s competitors include the above mentioned companies and general maintenance and repair shops in the area. Some of these operations do not have the capacity to handle a large amount of vehicles. While others may have the capacity, their operations are run in a primitive manner, and City Taxi intends to capitalize on that.

City Taxi’s competitive advantages include the availability of space, operations management, and skilled employees.

Strategy and Implementation Summary

Sales Strategy

At City Taxi, the sales process is the same for each of City Taxi’s two areas: taxi cab services and maintenance and repair services. The company intends to establish its presence online by developing a website from which sales will be generated. The District of Columbia Cab Commission regulates pricing for taxi cab services.

5.1 Marketing Strategy

Marketing Strategy

City Taxi markets its products and services as solutions to transportation needs in the city of San Francisco. Other target markets include customers in the low to mid income range. Direct mailings and television advertising will be the company’s main marketing channels.  These channels ensure that target customers are reached repeatedly and effectively. The company will monitor its market position through constant tracking by Value Pack and TCI Media, Inc.

TCI Media Services – The proposed advertising package, titled “The Championship,” will yield:

• Ads on the TV guide channel

5.1.1 Marketing Programs

City Taxi plans to communicate through direct mail and television advertising to generate sales. TCI MEDIA Services and Val-Pak Direct Marketing will spearhead the marketing campaign. The key message associated with our products and services is cleaner, efficient, flexible, and convenient taxi cabs.

Additional Plans–The company also has additional promotional plans which are diverse and include a range of marketing communications described below:

• Val-Pak Direct Marketing : the challenge of any direct marketer is to take a massive amount of amorphous data and create tailored messages to targeted market segments. Perhaps no company is more familiar with that challenge than Florida-based Val-Pak Direct Marketing, a leader in local, cooperative direct mail advertising. More than 53 million households in the United States receive Val-Pak coupons in their mailbox. In 1997, Val-Pak designed, printed and distributed more than 11 billion incentive coupons promoting various products and services. Val-Pak targets as few as 10,000 households or as many as 53 million with any given mailing.

5.2 Strategic Alliances

The company has strategic alliances with King Communications, Surfside Systems, and Commercial Electronic Services. These alliances are valuable to City Taxi because they allow the company to get updates on technology and added tech support, and they are valuable to the ally firms because City Taxi is a growing customer. All agreements come with a stipulation that if new technology becomes available, City Taxi will be notified and provided with the technology to expand on current technology, helping us maintain a competitive edge. Details of the strategic relationships that City Taxi has are given below.

• Mighty Cab Body Shop . The owner of Mighty Cab also owns a body shop. City Taxi will seek to establish a relationship with it for body work and towing services.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Organization

The company’s management philosophy is based on responsibility and mutual respect. City Taxi has an environment and structure that encourages productivity and respect for customers and fellow employees.

The City Taxi team is organized into two groups:

• Maintenance and Repair Services .  This division will deal with the maintenance of vehicles.  Drivers will be charged at discounted rates for tune-ups, wheel alignments, and other repairs.  This division will be staffed with seven employees to begin with.

Officers and Key Employees

City Taxi’s management is highly experienced and qualified.  Key members of City Taxi’s management teams, their backgrounds, and responsibilities are as follows.

• Ms. Glenda Jones, Call Center Supervisor.

Financial Plan investor-ready personnel plan .">

The company is seeking $2.5 million of financing to fund the acquisition of Mighty Cab Association and its initial operations. This funding will cover the purchase of Mighty Cab, marketing, purchase of extra vehicles, software, and hardware.

7.1 Important Assumptions

The table below shows the key assumptions for City Taxi.

7.2 Break-even Analysis

City Taxi’s Break-even Analysis indicates that the firm has a strong balance of costs and sales. The company estimates a monthly break-even sales volume of approximately $43,000, which will be reached by Fiscal Year (FY) 2000.

7.3 Projected Profit and Loss

City Taxi is in the early stage of development, thus initial projections have only been made on accounts that are believed to most drive the income statement.

7.4 Projected Cash Flow

The table below outlines the company’s cash flows for FY 1999-2001. The required $2.5 million will be spent to acquire Mighty Cab’s operations ($1.25 million), as well as to purchase additional property ($250,000) and equipment ($200,000). An additional $500,000 will be spent on other short-term assets.

7.5 Projected Balance Sheet

The table below provides City Taxi’s actual and projected balance sheets for 1999-2001.

7.6 Business Ratios

The following table contains important business ratios from the taxi cab industry, as determined by the Standard Industry Classification (SIC) Index #4121, Taxi Cabs.

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Taxi Business Plan Sample

Published Mar.14, 2017

Updated Oct.29, 2024

By: Jakub Babkins

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Table of Content

Taxi business plan for starting your own business 

Are you looking for how to start taxi service ? If yes, then this taxi service business plan is all you need. The taxi service business can be a great choice if you have a good budget for buying and maintaining vehicles. Starting a taxi services business doesn’t require you to be an expert in the transportation field. The business can be started with just a few cars and drivers. Moreover, it can easily be expanded whenever you want. 

To start a business, it is important to follow a certain procedure. You need to draft a  transport plan   for your taxi service business as the first step. For that, you can look at associated plans such as  tipper truck company plan . If you also want to launch a mobile app to let your customers book a taxi online, you should also analyze  mobile apps plan .

Executive Summary

2.1 about the business.

Grab A Cab will be a taxi service business owned by Benjamin Williams. The business will be based in San Francisco. The main aim of this taxi service business will be to provide trustworthy, well-timed, and safe cabs whenever and wherever someone needs them. Grab A Cab taxi service will provide cab services while integrating the operations with technology to facilitate individuals even more.

2.2 Management of Taxi business

After you have learned how to start a taxi service, it is important to figure out how to manage the taxi business operations successfully. There is no better way to plan out every aspect of your taxi service than developing a plan for taxi service pdf. To know how what your document should include, you can read the strategic plan provided here. In this taxi business plan example, we will guide you about all the components of a strong action plan so that you can develop your call taxi plan.

It is better to hire business planning services to get a professional strategic plan for your startup. However, if you have the business knowledge and you want to create the plan on your own, you can do so after doing adequate research. In that case, it is recommended to also go through a logistics company business plan .

2.3 Customers of Taxi business

Through our market survey and feasibility studies, we identified those customers that are most likely to benefit from our services. The recurring customers of the taxi service business will be:

• Schools 
• Event planners
• Retirement and care homes
• Hotel and airport transfers

2.4 Business Target

The main goal of our taxi service business is to become the most-liked transportation company in the San Francisco Metro Area within three years. We aim at doing so by continuously evaluating, monitoring, and following up on customer call-ins.

Company Summary

3.1 grab a cab owner.

Benjamin Williams will be the owner of Grab A Cab taxi service business. Williams completed his MBA two years ago. After that, he pursued a position as a manager in a noteworthy company. He was quite fascinated by the cab service in his state. After a few months, he left the post to fulfill his lifelong passion of starting his own taxi service business.  

3.2 Why Grab A Cab is being started

Benjamin Williams noticed that the other cab services businesses around him used traditional and outdated methods to serve their customers. He decided to use the latest technological features to bring innovation to the business domain.

3.3 How Grab A Cab business will be started

Step1: Plan Everything

Good planning is crucial when you are going to start a business. To ensure that you plan well for your startup, you should explore how to open a taxi company in the United States.

A action plan for taxi service can best aid in planning and managing a business. To write your taxi driver plan, you can take help from this sample. You can also go through other examples like truck driving business plan to get an idea of what to include when planning for a startup.

Step2: Develop a Brand

The next step in starting up a taxi companyis to highlight your business and its unique offerings. This can be achieved by creating a brand around your business idea. This will include everything from your principles to your competitive advantages.

Step3: Establish Your Office 

The next important step is to establish your business. For this purpose, Benjamin Williams decided to buy a large parking space in the main San Francisco commercial area. He made sure that the place was spacious enough to park all his cabs. Moreover, he also got a workshop constructed inside that place to maintain and repair the cabs. In this way, he reduced the expense of sending damaged cabs to other workshops. 

Step4: Establish a Web Presence

Since we are living in the Information Age, it is necessary to establish a web presence to get known. Therefore, Williams decided to develop a website for the business and establish social media presence for marketing to attract a wider audience. 

Step5: Promote and Market

The last step is developing and executing an effective marketing plan to promote your services.

Services of taxi business 

Before setting up a taxi business, you need to decide on your business’s services. You may have a taxi business plan tempelate, but it might not have everything you need for your sample plan. 

You can follow this guide on how to open a taxi service to figure out what the market for the business looks like and what services are ideal to be included in your startup. 

The cost factor is necessary to keep in mind while considering your services, so you can develop a taxi service business plan startup costs pdf to keep an estimate. Since Williams started with various services, this format can be used to develop even a uber taxi or an airport taxi business plan.

• Door-to-Door Taxi Service 

We will provide door-to-door taxi service to our customers as it is more convenient to use. Our capable drivers will pick up customers from their homes and drop them off directly at their destinations. Our customers will be able to book a cab through our mobile app or website.

• Wheelchair Accessible Cabs

Our specialized service will provide wheelchair user passengers with a ramp or a passenger lift to assist them with getting into the vehicle. This approach is used as it is far easier than transferring from a wheelchair to a car seat and dismantling the wheelchair for the journey. 

• Seniors on the Go

We’ll also provide our professional, skilled, and highly patient cab drivers to assist seniors with their chores. Our company will provide senior citizens taxicab coupon booklets to maximize senior citizens’ benefits. We will aim to provide maximum customer satisfaction. 

• Hourly Service

We will offer our clients affordable discounts that pay off in the long run with our hourly packages.

Marketing Analysis of Taxi business

Excellent work.

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When starting a taxi service business, you should have an excellent understanding of your target market. You can gain this understanding by doing an extensive market analysis as a part of your taxi business plan sample. 

Your plan for a taxi business should also analyze the price of similar services in the market. This data should be used to forecast the prices you will set for starting your own taxi business. 

If you don’t know how to open a taxi company, you can take help of this taxi cab business plan. A complete market analysis is necessary for running a taxi business. 

If you want to learn how to setup your own taxi business, then this opetional plan taxi service will be of great use. 

5.1 Market Trends

Taxi operations provide over 60 billion dollars a year to the general US economy. The industry employs 2,026,478 people. The growth rate of this industry has remained in step with the general growth of the country’s GDP. Management feels that by maintaining a local client base, the company can continue to generate revenues despite the current deleterious economic conditions in the United States.

5.2 Marketing Segmentation

The potential customers of Grab A Cab are divided into the following groups:

Business plan for investors

5.2.1 schools  .

Our primary customers will be the school students. They are expected to avail of our regular services to go to school, travel to sports matches or class trips. 

5.2.2 Event Planners

Our second target customer will be event planners. They need to organize events, and for this purpose, they have to travel to different places. They will utilize our cab service to get maximum comfort. Our cabs will pick them up from their pickup location and drop them at their destination. 

5.2.3 Retirement and Care Homes

This will be our third target group of customers. Our taxi company will provide services to people in retirement and care homes since they may no longer be confident to drive. Our wheelchair-assessable cabs are specially designed for these customers. 

5.2.4 Hotel and Airport Transfers

Lastly, our potential customers include families and individuals on holiday and business travels. These groups don’t typically mind paying a bit more for a solution that takes care of transportation in an all-in-one way. Therefore, we expect to earn a handsome amount from them.

5.3 Business Target

• To become the number one taxi service throughout San Francisco and adjoining areas. 
• The main target of our taxi service business is to pursue an aggressive marketing campaign and penetrate at least 75% of the market share.
• To earn a net profit margin of $50.5k per month by the end of the third year.

5.4 Product Pricing

Our business plan for transportation service ensures that our prices will be economical compared to our competitors. The prices are set at a minimum to get introduced to a wider audience from the very beginning.

Marketing Strategy of Taxi business

To open taxi business, you must develop the best business plan for a taxi business. In addition, before starting up a taxi company, you also need to develop a strong marketing strategy to attract more customers.

In this taxi cab company business plan, we’re providing the sales strategy of Grab A Cab. You can learn a lot from here if you aspire to make a city taxi plan.

6.1 Competitive Analysis

• We have quick customer care services. We respond to customer queries efficiently and respect their feedback to improve our services.
• We have excellent customer support staff that guides our customers in choosing the best traveling package according to their budget. 
• Through our 24/7 online presence, customers can inquire about our services. 
• We will also implement ideas from roadside assistance stategic plan to prevent any inconvenience to our customers. 

6.2 Sales Strategy

• We’ll advertise our services through social media platforms like Facebook and Instagram.
• We’ll give a free ride to our first 50 customers
• We’ll offer a 25% discount to school and college students.

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Personnel plan of taxi business

There are a lot of taxi services in the world. But only those are popular that make customers happy and satisfied. This taxi service business plan sample has all the details regarding the startup of the taxi service business. 

Understanding the importance of good staff, William included some essential features as a part of employee hiring criteria in the taxi cab advertising plans. He also formed a list of employees necessary for running his business. This list can be seen in this taxi business plan pdf.

7.1 Company Staff

• 1 Operations Manager
• 1 Customer Support Officer
• 1 Marketing Officer
• 10 Drivers 
• 2 Mechanics
• 1 Web Developer to manage online sites

7.2 Average Salary of Employees

Financial plan of taxi business.

It is essential to manage your operations timely to earn profits. A detailed financial analysis is necessary to ensure that your business is not getting into a loss. To ensure that you make a detailed financial plan, you should include all the components that we have mentioned in this taxi business sample plan pdf.

The  taxi service business plan startup costs are also important for your financial plan. Moreover, in your financial plan, you must identify when and how you’ll cover your investment amount with the earned profits. This approach would also help to analyze your yearly expenses to determine the possibilities of reducing them.

Here we’re providing the detailed financial plan made for Grab A Cab so that you can get an idea of the business finances.

8.1 Important Assumptions

8.2 Break-even Analysis

8.3 Projected Profit and Loss

8.3.1 profit monthly.

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

  8.5 projected balance sheet, 8.6 business ratios.

• How do I start a taxi business?

To start a taxi business, you need to develop a good sample business plan for taxi service. The above plan taxi company will detail how to do that.

• How does the taxi business work?

The taxi business works by purchasing some taxis, procuring a large parking area, and hiring staff to run and manage services. In this taxi top advertising operational plan we have explained all these three aspects in detail. If you want to set up this business, you can take help from this taxi service business plan. 

• How would you describe a taxi service?

The taxi service provides transportation facilities to people without facing public transport problems. Business plan taxi provides details for setting up taxi business.

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Taxi Business Plan

The taxi business is a thriving industry with tough competition from modern companies such as Uber, Ola, Lyft, and many more. Still, starting a new taxi business is viable and has potential in the current fast-moving world. But a solid and complete business plan is necessary to compete and build a successful taxi business.

If you want to start a new taxi business, the first thing you will need is a business plan. Use our sample taxi business plan created using Upmetrics business plan software to start writing your business plan in no time.

Before you start writing your business plan for your new taxi business, spend as much time as you can reading through some examples of  transportation-related business plans .

Reading sample business plans will give you a good idea of what you’re aiming for, and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample business plan for you to get a good idea about how perfect a taxi business plan should look and what details you will need to include in your stunning business plan.

Taxi Business Plan Outline

This is the standard outline which will cover all the important sections that you should include in your business plan.

• Introduction
• Mission Statement
• Vision Statement
• 3 Year profit forecast
• Company Strategy
• Past Performance
• Value Proposition
• Taxi Cab Services
• Maintenance/Repair Services
• Future Services
• Customers and Target Markets
• Customer Buying Criteria
• Market Analysis
• Competition and Buying Patterns
• Sales Yearly
• Detailed Sales Forecast
• Marketing Programs
• Strategic Alliances
• Organization
• Officers and Key Employees
• Important Assumptions
• Brake-even Analysis
• Profit Yearly
• Gross Margin Yearly
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios

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Download a sample taxi business plan

Need help writing your business plan from scratch? Here you go;  download our free taxi business plan pdf  to start.

It’s a modern business plan template specifically designed for your taxi business. Use the example business plan as a guide for writing your own.

After  getting started with upmetrics , you can copy this sample business plan into your business plan and modify the required information and download your taxi business plan pdf  and doc file . It’s the fastest and easiest way to start writing your business plan.

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About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Taxi Service Business Plan Template

Written by Dave Lavinsky

If you’re looking to create a taxi service business plan, you’ve come to the right place!

Over the past 25 years, the PlanPros team has helped over 1 million entrepreneurs and business owners write business plans….and many of them have started and grown successful taxi service businesses. Below is an example of a business plan for a taxi service business.

Taxi Service Business Plan Example

Below is our taxi service business plan template and sample plan created using our free ai business plan generator :  

I. Executive Summary

Company overview.

At SwiftRide Taxi Solutions, we pride ourselves on providing top-notch transportation services in Linden, NJ, and surrounding areas. Established to meet the growing demand for reliable and efficient taxi services, our company has quickly become a preferred choice for local residents, business travelers, and tourists alike. Our fleet comprises modern, well-maintained vehicles operated by professional, courteous drivers, ensuring a comfortable and safe ride every time. Operating in a strategic location, we leverage our local knowledge and technological advancements to offer timely services, setting us apart in a competitive market.

Success Factors

Our success stems from a combination of key factors and accomplishments. Firstly, our commitment to customer satisfaction has earned us a loyal customer base and positive word-of-mouth referrals. We’ve also invested significantly in technology, allowing for easy booking and real-time tracking of our vehicles, enhancing the overall customer experience. Moreover, our strategic partnerships with local businesses and our participation in community events have bolstered our brand presence and community engagement. These efforts have positioned us as a leading taxi service provider in our area, with a solid foundation for future growth.

Industry Analysis

The taxi and ride-sharing industry has witnessed significant transformations, driven by technological advancements and changing consumer behaviors. The rise of ride-sharing platforms has introduced a new level of competition, compelling traditional taxi services to innovate and adapt. This evolving landscape emphasizes the importance of customer service, technological integration, and operational efficiency. In Linden, NJ, the demand for reliable transportation services continues to grow, fueled by an increase in tourism, business activities, and local events. Our strategic approach positions us to capitalize on these opportunities by offering differentiated services that cater to the specific needs of our diverse customer base.

Customer Analysis

Our target customers encompass a wide range of demographics, including local residents, business travelers, and tourists in Linden, NJ. We cater to individuals seeking convenience, reliability, and quality service in their transportation options. Our analysis indicates a significant demand among professionals for timely and efficient travel to and from the airport, as well as among tourists and locals looking for safe and comfortable rides around the city. Understanding these customer segments allows us to tailor our services and marketing strategies to meet their unique needs, ensuring a superior service experience.

Competitive Analysis

• Elegant Chauffeurs:  Targets premium customers with luxury vehicles, focusing on corporate clients and special events.
• Travelers Taxi, LLC:  Offers a range of services including standard taxi rides and airport shuttles, known for their affordability and reliability.
• Chico Car Service:  Provides budget-friendly, reliable taxi services, appealing to local residents and budget-conscious travelers.

Our competitive advantage lies in our ability to blend the best aspects of our competitors’ offerings with our exceptional customer service and technological innovations. This unique positioning allows us to cater to a broad spectrum of customer needs, setting us apart in the market.

Marketing Plan

Our marketing strategy is centered around online and community-based promotional efforts. We leverage social media, SEO, and email marketing to engage with our audience and promote our services. Our user-friendly website and targeted online advertising campaigns play a crucial role in attracting new customers. Additionally, we engage in community sponsorship and events to enhance our local brand presence. Traditional marketing methods, such as distributing flyers and referral programs, complement our online efforts, creating a well-rounded approach to reach and retain customers in Linden, NJ. Our promotions plan is designed to build trust and loyalty among our customer base, ensuring we remain their top choice for taxi services.

Operations Plan

Our key operational processes include efficient dispatch and scheduling, regular maintenance of our fleet, and ongoing driver training programs to ensure the highest level of service. We’ve set milestones for expanding our fleet, integrating advanced booking technologies, and achieving specific customer satisfaction targets. These operational goals support our mission to provide exceptional taxi services and drive sustainable business growth.

Management Team

Our management team is composed of experienced professionals with diverse backgrounds in the transportation, technology, and customer service industries. Their collective expertise drives our strategic decision-making, operational efficiencies, and customer-focused approach, positioning SwiftRide Taxi Solutions for continued success and market leadership.

Financial Plan

To achieve our growth objectives, we require additional funding to expand our fleet, invest in technology, and enhance our marketing efforts. This investment will enable us to meet the increasing demand for our services, improve operational efficiency, and secure a competitive edge in the market.

Below is an overview of our expected financial performance over the next five years:

II. Company Overview

SwiftRide Taxi Solutions is a new Taxi Service serving customers in Linden, NJ. We are a local taxi service aimed at providing an unmatched transportation solution in the area. Recognizing the gap in high-quality local taxi services, we have embarked on a mission to fill this void by offering reliable, comfortable, and technologically advanced taxi services that cater to the needs of Linden residents and visitors alike.

Our offerings are designed to cater to the modern passenger’s needs, including a state-of-the-art Ride-Booking App that allows customers to request rides with ease, GPS Navigation Systems to ensure efficient routing and timely arrivals, Taxi Meters for transparent and fair billing, Passenger Safety Equipment for peace of mind during travel, and In-Car Payment Systems for convenience in settling fares. These products and services are the backbone of our operations, ensuring a seamless and satisfactory experience for all our customers.

Based in Linden, NJ, SwiftRide Taxi Solutions is strategically positioned to serve the local community and its surrounding areas effectively. Our deep understanding of the local landscape, combined with our commitment to leveraging technology for better service delivery, sets us apart as a preferred choice for taxi services in Linden, NJ.

SwiftRide Taxi Solutions is uniquely qualified to succeed for several reasons. Our founder brings a wealth of experience from previously running a successful taxi service, ensuring that we have the knowledge and expertise required to navigate the industry’s challenges. Additionally, our commitment to providing superior taxi services, compared to what is currently available from the competition, positions us as a leader in the local market. These factors, combined with our passion for customer satisfaction, form the foundation of our success.

Since our establishment on January 1, 2024, as a C Corporation, we have achieved significant milestones. Our accomplishments to date include the development of a distinctive company logo that represents our brand’s values and ethics, the creative process behind our company name that resonates with our mission and vision, and the securing of an ideal location that serves as our operational base. These achievements mark the beginning of our journey towards becoming the go-to taxi service in Linden, NJ.

III. Industry Analysis

The Taxi Service industry in the United States is a significant market with an estimated size of $23.6 billion. This industry has shown steady growth over the past few years, with an expected annual growth rate of 2.7% in the coming years. This growth is attributed to factors such as an increase in demand for convenient transportation options and the rise of ride-sharing services.

One trend in the Taxi Service industry that bodes well for SwiftRide Taxi Solutions is the shift towards more personalized and on-demand services. Customers are increasingly looking for reliable, efficient, and comfortable transportation options, which SwiftRide Taxi Solutions aims to provide. With the rise of technology and mobile apps, customers are also looking for easy booking and payment options, which SwiftRide Taxi Solutions can capitalize on.

Another trend in the Taxi Service industry is the focus on sustainability and eco-friendly transportation options. As more customers become environmentally conscious, there is a growing demand for taxi services that prioritize sustainability. SwiftRide Taxi Solutions can differentiate itself by offering hybrid or electric vehicles, which can attract a niche market of eco-conscious customers in Linden, NJ. By aligning with these industry trends, SwiftRide Taxi Solutions has the opportunity to carve out a successful niche in the competitive Taxi Service market.

IV. Customer Analysis

Below is a description of our target customers and their core needs.

Target Customers

Our primary target customers will be local residents of Linden, NJ who require reliable and convenient transportation for their daily commutes, errands, and social activities. We will focus on providing top-notch services to individuals who do not own vehicles or prefer not to drive, ensuring they have a dependable alternative for their mobility needs. By offering competitive pricing and exceptional customer service, we will quickly become the go-to choice for local transportation.

We will also target business professionals who need timely and comfortable transportation to and from work, meetings, and corporate events. Our services will include options for pre-scheduled pickups and drop-offs, catering to the busy schedules of our corporate clientele. Additionally, we will offer premium services for executives and VIPs, ensuring a high-quality experience for those who require it.

Another key segment we will target is tourists and visitors to Linden, NJ, who need hassle-free transportation to explore the city’s attractions, hotels, and nearby destinations. We will provide tailored tour packages and sightseeing services to enhance their travel experience. Our knowledgeable drivers will offer insights and recommendations, making us an essential part of their visit.

We will also focus on serving individuals with special transportation needs, such as seniors and people with disabilities, by offering accessible vehicles and trained drivers. Our commitment to inclusivity will ensure that every customer, regardless of their mobility challenges, will have a safe and comfortable ride. This dedication to accessibility will set us apart from competitors and build a loyal customer base.

Customer Needs

SwiftRide Taxi Solutions provides high-quality taxi services to residents who prioritize comfort and reliability. Customers expect timely arrivals and departures, ensuring they reach their destinations punctually. Our fleet is well-maintained, offering a clean and safe environment for all passengers.

We cater to the need for advanced booking options through our user-friendly app, allowing customers to schedule rides at their convenience. Real-time tracking features give customers peace of mind, knowing exactly when their taxi will arrive. Our competitive pricing ensures affordability without compromising service quality.

Our drivers are professionally trained, enhancing the overall customer experience with courteous and knowledgeable service. We understand the importance of accessibility, offering services that accommodate individuals with special needs. Customer support is readily available to address any concerns or questions, ensuring a seamless and satisfying ride experience.

V. Competitive Analysis

Direct competitors, elegant chauffeurs.

Elegant Chauffeurs offers high-end taxi and chauffeur services, targeting corporate clients and special events. They provide luxury sedans, SUVs, and limousines. Price points are premium, with an average ride costing between $50 and $150 depending on the distance and vehicle type. Their revenue is estimated to be around $2 million annually. They operate in Linden, NJ, and surrounding areas including Newark and Elizabeth. The primary customer segments include corporate executives, tourists, and event attendees. Key strengths include a high level of service, luxury vehicles, and experienced drivers. Weaknesses are higher costs and a narrower market appeal limited to premium customers.

Travelers Taxi, LLC

Travelers Taxi, LLC provides standard taxi services as well as airport shuttles and package delivery. Their fleet includes sedans and minivans. Price points are competitive, with fares ranging from $15 to $50 depending on the service. The company generates an estimated $1.5 million in annual revenue. They serve Linden, NJ, and extend their services to include Newark Liberty International Airport. Their customer segments include local residents, business travelers, and tourists. Key strengths are affordability, a diverse range of services, and reliability. Weaknesses include a less luxurious fleet and longer wait times during peak hours.

Chico Car Service

Chico Car Service specializes in affordable and reliable taxi services, offering both on-demand rides and scheduled pickups. Their fleet includes sedans and SUVs. Price points are budget-friendly, with typical fares ranging between $10 and $40. The company has an estimated annual revenue of around $1 million. They serve Linden, NJ, and nearby cities like Rahway and Cranford. Key customer segments include local residents, students, and budget-conscious travelers. Key strengths are affordability, convenience, and customer loyalty. Weaknesses include a smaller fleet size and limited premium service options.

Competitive Advantages

SwiftRide Taxi Solutions distinguishes itself in the competitive market through exceptional service quality and customer-centric features. Our commitment to providing better taxi services than our competition is evident in multiple aspects. We have invested in a modern fleet of vehicles equipped with the latest safety and comfort features, ensuring a superior ride experience for our customers. Additionally, our drivers undergo rigorous training and background checks to guarantee professionalism and safety, setting us apart from other service providers.

We also leverage technology to enhance our service delivery. Our user-friendly mobile app offers seamless booking, real-time tracking, and cashless payment options, making the entire process hassle-free for our customers. Furthermore, our competitive pricing strategy, coupled with frequent promotional offers, ensures that our services remain affordable without compromising on quality. By continually innovating and prioritizing customer satisfaction, we maintain a distinct edge over our competitors in the Linden, NJ market.

VI. Marketing Plan

Our marketing plan, included below, details our products/services, pricing and promotions plan.

Products, Services & Pricing

SwiftRide Taxi Solutions offers a variety of products and services designed to enhance the customer experience and ensure efficient operations. Their primary offering is a user-friendly Ride-Booking App, which allows customers to easily book rides, track their taxi in real-time, and make payments. The app is available for free on both iOS and Android platforms, providing convenience and accessibility for all users.

To ensure drivers can navigate efficiently, SwiftRide includes advanced GPS Navigation Systems in each vehicle. These systems are equipped with real-time traffic updates and alternative route suggestions, helping drivers avoid delays and provide timely service. The cost of integrating these navigation systems into each vehicle is approximately $300 per unit.

Accurate fare calculation is crucial for both the driver and the passenger. SwiftRide uses high-precision Taxi Meters that ensure transparent and fair pricing. The average cost of these taxi meters is about $250 per unit, and they are regularly calibrated to maintain accuracy.

Passenger safety is a top priority for SwiftRide, which is why they invest in comprehensive Passenger Safety Equipment. This includes features like in-car cameras, emergency buttons, and first-aid kits. The safety equipment package typically costs around $150 per vehicle, providing peace of mind for both drivers and passengers.

For seamless transactions, SwiftRide installs state-of-the-art In-Car Payment Systems in all taxis. These systems support multiple payment methods, including credit/debit cards, mobile payments, and cash. The average cost of these payment systems is about $200 per unit, ensuring drivers can efficiently manage fares and tips.

By offering these products and services, SwiftRide aims to provide a reliable, safe, and convenient taxi service experience for all their customers.

Promotions Plan

At SwiftRide Taxi Solutions, we implement a variety of promotional methods to attract and retain customers in Linden, NJ. Our primary focus is on online marketing, leveraging the power of digital platforms to reach a broader audience. We utilize social media channels such as Facebook, Instagram, and Twitter to engage with potential customers, share updates, and run targeted advertising campaigns. Through these platforms, we also engage in community building by responding to customer inquiries and feedback promptly.

In addition to social media, we invest in search engine optimization (SEO) to ensure our website ranks highly in search engine results. This increases our visibility to individuals searching for taxi services in Linden. Our website is user-friendly and mobile-optimized, providing customers with an easy way to book rides and access information about our services.

Email marketing plays a significant role in our promotional strategy. We collect email addresses through our website and social media channels to send out newsletters, promotional offers, and important updates. This helps us maintain regular communication with our customers and keeps them informed about any new services or discounts we offer.

We also run online advertisements through Google Ads and other relevant platforms. These ads are targeted based on demographics, location, and customer behavior, ensuring that we reach the right audience. Additionally, we collaborate with local businesses and events to sponsor and promote our services, thereby increasing our brand presence in the community.

Our promotional efforts are not limited to online methods. We distribute flyers and business cards in high-traffic areas such as shopping centers, train stations, and community events. We also offer referral programs where existing customers receive discounts for referring new clients to us. This word-of-mouth marketing is highly effective in building trust and credibility.

To further enhance our visibility, we participate in local community events and sponsor charitable activities. This not only helps us give back to the community but also strengthens our brand image. By being actively involved in the community, we build strong relationships with potential customers who value local businesses that contribute to their area.

Overall, our comprehensive promotional strategy combines online marketing, community engagement, and traditional advertising methods to attract and retain customers in Linden, NJ. We remain committed to providing exceptional service and continuously adapting our promotional tactics to meet the evolving needs of our customers.

VII. Operations Plan

Our Operations Plan details:

• The key day-to-day processes that our business performs to serve our customers
• The key business milestones that our company expects to accomplish as we grow

Key Operational Processes

To ensure the success of SwiftRide Taxi Solutions, there are several key day-to-day operational processes that we will perform:

• Customer Booking Management:  Efficiently manage customer bookings through a user-friendly mobile app and phone-based reservation system.
• Driver Coordination:  Schedule and dispatch drivers effectively to meet customer demand and reduce wait times.
• Vehicle Maintenance:  Regularly inspect and maintain vehicles to ensure safety and reliability.
• Customer Service:  Provide exceptional customer service by addressing inquiries, complaints, and feedback promptly.
• Payment Processing:  Offer multiple payment options and ensure secure, efficient processing of transactions.
• Compliance and Licensing:  Ensure all taxis and drivers comply with local regulations and licensing requirements.
• Marketing and Promotions:  Develop and execute marketing strategies to attract and retain customers, including promotions and loyalty programs.
• Data Analytics:  Collect and analyze data on customer preferences, peak times, and service efficiency to make informed decisions.
• Driver Training:  Provide ongoing training for drivers on customer service, safety protocols, and efficient route management.
• Technology Upgrades:  Regularly update and maintain the booking platform, app, and other technology systems to ensure smooth operation.
• Health and Safety Protocols:  Implement and monitor health and safety protocols, especially relevant in light of public health concerns.
• Partner Collaboration:  Establish partnerships with local businesses and organizations to extend service reach and offer joint promotions.
• Financial Management:  Monitor expenses, manage budgets, and ensure financial sustainability of the business.

SwiftRide Taxi Solutions expects to complete the following milestones in the coming months in order to ensure its success:

• Obtain necessary permits and licenses:  Secure all the required operational permits and licenses from local and state authorities to legally operate the taxi service in Linden, NJ.
• Build a fleet of vehicles:  Acquire and prepare a fleet of reliable, well-maintained vehicles that meet safety and comfort standards, ensuring a positive customer experience.
• Hire and train drivers:  Recruit skilled, professional drivers and provide them with comprehensive training on customer service, safety protocols, and the use of the company’s technology platform.
• Launch our taxi service:  Officially start the taxi service operations, including a marketing campaign to announce the launch and attract initial customers.
• Implement a robust technology platform:  Deploy an efficient booking and dispatch system, including a user-friendly mobile app for customers and a GPS tracking system for real-time vehicle management.
• Establish strong customer support:  Set up an effective customer service team to handle inquiries, complaints, and feedback, ensuring high levels of customer satisfaction and loyalty.
• Reach $15,000/month in revenue:  Focus on marketing, customer retention, and service excellence to achieve a sustainable revenue stream of at least $15,000 per month.
• Form strategic partnerships:  Collaborate with local businesses, hotels, and event organizers to create mutually beneficial partnerships that drive customer referrals and increase ride bookings.
• Implement a feedback and improvement loop:  Regularly collect and analyze customer feedback to continuously improve service quality and address any operational issues promptly.
• Achieve financial stability:  Monitor financial performance closely, managing expenses and optimizing operations to ensure the company reaches and maintains profitability within the 24-month timeframe.

VIII. Management Team

Our management team has the experience and expertise to successfully execute on our business plan.

Management Team Members

SwiftRide Taxi Solutions management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:

William Gutierrez, CEO

William Gutierrez has a history of success and has successfully run a taxi service in the past. With a proven track record in the transportation industry, William brings invaluable experience and leadership to SwiftRide Taxi Solutions. His deep understanding of the operational challenges and opportunities within the taxi service sector positions him to steer the company towards sustained growth and innovation. William’s strategic vision and hands-on approach are critical assets that will help SwiftRide achieve its business objectives.

IX. Financial Plan

Funding requirements/use of funds.

To accomplish our growth goals, SwiftRide Taxi Solutions needs $515,000 in funding. Key uses of this funding will be as follows:

Financial Projections

5 Year Annual Income Statement

5 year annual balance sheet, 5 year annual cash flow statement, what is a taxi service business plan.

A taxi service business plan is a document that outlines the strategies you have developed to start and/or grow your taxi service business. Among other things, it details information about your industry, customers and competitors to help ensure your company is positioned properly to succeed. Your taxi service business plan also assesses how much funding you will need to grow your business and proves, via your financial forecasts, why the business is viable.  

Why You Need a Business Plan for your Taxi Service Business

A business plan is required if you are seeking funding for your taxi service business. Investors and lenders will review your plan to ensure it meets their criteria before providing you with capital. In addition, a taxi service business plan helps you and your team stay focused. It documents the strategies you must follow and gives you financial projections you should strive to achieve and against which you can judge your performance.  

Taxi Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Transportation Industry » Taxi

Are you about starting a taxi business ? If YES, here is a complete sample taxi business plan template & feasibility report you can use for FREE .

As regard starting a business in the transportation sector especially a business like taxi Company could be fun, profitable and interesting for someone with business sense, perseverance and smartness. With comfortable taxis, the right location, top-notch service and good marketing, you can serve large customers who require the services of taxi Cab Company to be able to move from one location to another for an affordable price.

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It is important to note that starting a standard taxi cab business with over a handful of taxis and drivers also needs a significant investment capital, solid planning, and concentration to detail in order to keep your business profitable.

The truth is that, if you are serious about starting a standard taxi company in any part of the world, you are expected to have done your feasibility studies and market survey before committing your capital in the business. Above all you would need a detailed and workable business plan if indeed you want to build a successful and profitable taxi cab company from the scratch.

The taxi company business plan template below will guide towards drafting your business plan with little or no stress.

A Sample Taxi Business Plan Template

1. industry overview.

A taxi cab cum limousine Services Company provides comfortable and private transportation via automobiles (usually sedans / cars) for passengers. Taxi services are not operated on regular schedules or routes like the usually buses or car that pick several passengers along the road. So also, limousine services are rented or hired with a driver.

The Taxi and Limousine Services industry has experienced remarkable growth over the years in the united states. The growth of the US economy has indeed directly benefited the industry as business expense accounts have grown and clients have been more willing to spend on small luxuries such as taxi and limousine rides.

In addition, increased demand from corporate travelers, tourists and private households is expected to result in steady growth for this industry.

The Taxi and Limousine Services industry is indeed a very thriving industry in most countries of the world. It is a major sector of the economy of the United States and it generates a whooping sum of well over $20 billion annually from more than 338,882 registered and licensed Taxi and Limousine services companies scattered all around the United States of America.

The industry is responsible for the employment of well over 413,046 people (drivers and administrative staff members). Experts project the supermarket and grocery industry to grow at a 6.7 percent annual rate. There is no establishment in this industry that has a dominant market share in the United States.

A research conducted by IBISWORLD shows that the Taxi and Limousine Services industry is in the mature stage of its life cycle.

Industry value added (IVA), which measures the industry’s contribution to GDP, is also expected to grow at an average annual rate of 5.3 percent within the next 10 years. Within that same period, GDP is estimated to increase by 2.1 percent per year on average.

Basically, the industry demand is usually influenced by disposable income levels corporate profit and domestic trips by US residents. When it comes to advertising your taxi cab cum limousine services company, there shouldn’t be any limit to how far you can go.

You could start with handbills and distribute them in corporate organizations and public places. If you have cash you can place advert spots on Newspapers, TV and Radio, and if you don’t have enough cash you can start with the worldwide web. As a matter of fact the internet has become one of the cheapest and most potent advertising platforms.

Over and above, taxi cab cum limousine services businesses all over the world are still enjoying good patronage particularly if they have comfortable taxis, professional drivers and if they are well positioned and if they know how to reach out to their target market (corporate organizations, hotels, travels and tours companies, government and household et al).

2. Executive Summary

Metro 24 – 7 Taxi®, Inc. is a standard, licensed and registered Taxi cab cum Limousine Services Company that will based in Miami Beach, Florida – United States of America and we will have active presence in other cities such as Green acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.

We chose to operate in these cities because we know that our services will be in high demand due to the demographic composition of Florida.

We are well trained and equipped with some of the finest taxi cab drivers and comfortable cars to service our clients irrespective of their social and financial status. Our services will involve taxi services, taxi leasing and other car services, luxury and corporate sedan services, stretch limousines and buses, SUVs and large vans rental services et al.

Although our intention of starting Metro 24 – 7 Taxi®, Inc. is to offer only the above stated services, but we will not close our doors to diversification (additional services) as long as it does not affect our core services.

At Metro 24 – 7 Taxi®, Inc. we are passionate in the pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to start our own taxi cab and limousine service business; we are in the industry to make a positive mark.

We are quite optimistic that our values and quality of service offering will help us drive Metro 24 – 7 Taxi®, Inc. to enviable heights and also help us attract the numbers of clients that will make the business highly profitable. We are a company that will be dedicated to establishing good business relationship with our clients giving them value for their money and reasons for them to hire our services over and over again.

We are quite aware that in order to become the number one choice in our city, we must continue to deliver quality and highly reliable services and that is exactly what we will do. We are open to the use of latest technology in the taxi cab cum limousine services line of business.

No doubt our excellent customer service and the quality of services we offer will position us to always welcome repeated customers and handle massive deals from both government agencies, and corporate organizations.

Our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients. Metro 24 – 7 Taxi®, Inc. is owned and managed by Kennedy Williams and his friend and business partner for many years Henry Sean.

They both graduated from University of California and they are well – equipped with the required qualifications and experience to grow Metro 24 – 7 Taxi®, Inc. to favorable compete with leaders in the Taxi and Limousine Services industry both in the United States of America and in the world at large.

3. Our Products and Services

Metro 24 – 7 Taxi®, Inc. is a standard and well – equipped taxi cab and limousine services company that is positioned to make profit and favorable compete with leaders in the industry and we are going to do all that is permitted by the law of the United States of America to achieve our business aims and ambition. Our services offering are listed below;

• Providing limousine services
• Providing luxury sedan services
• Providing chauffer and personal driver services
• Taxi services, taxi leasing and other car services
• Stretch limousines and buses
• SUVs and large vans
• Providing corporate sedan services

4. Our Mission and Vision Statement

• Our vision is to become the number one taxi cab and limousine services company in the whole of Florida with active presence in key cities all around the State of Florida.
• Our mission as a standard taxi and limousine services company is to develop a highly successful, profitable business which provides quality automobile transportation services in our city and to become a standard for an ideal taxi and limousine services business not only in the State of Florida but also throughout the United States of America and Canada where we intend launching our business and selling our franchise.

Our Business Structure

We are quite aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our taxi cab cum limousine Services Company on the right business foundation.

As a matter of fact, we are set out to build a taxi and limousine Services Company that will be a standard for an ideal taxi and limousine services industry in the United States of America and Canada. We want to build a business of dedicated workforce who will go all the way to ensure that our customers are satisfied and they get value for their money.

In other to achieve this, we aware that it takes a business with the right employees and structure to achieve all what we have set to achieve, which is why we will be putting structures and processes in place that will help us deliver excellent services and run the business on autopilot.

The success of our taxi and limousine services company will be anchored on the team not on any individual – drivers and back office staff members inclusive. With the wide range of our service offerings, we are only expected to employ more than it is required to run a conventional taxi and limousine services business.

Definitely, we will have various employees (full – time and contract staff) to man the various services offering of Metro 24 – 7 Taxi®, Inc. Metro 24 – 7 Taxi®, Inc. will employ professionals and highly skilled people to occupy the following position;

• Chief Executive Officer

IT Specialist

Admin and HR Manager

Marketing and Sales Executive

• Professional Drivers (Taxi and Limousine Drivers)
• Customer Care Executive/Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Responsible for installation, repair and maintenance of GPS car tracking device for the organization
• Responsible for writing and presenting reports, proposals, applications and contracts
• In charge of choosing the GPC car tracker components and software to be used and specifying the requirements for the project
• Adapts plans according to circumstances and resolving any problems that may arise during GPS car tracker installation and monitoring
• Monitors all our taxi that are plying different routes
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Designs job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversee the smooth running of the daily office activities.
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of relevant projects.
• Writing winning proposal documents, negotiate fees and rates in line with company policy
• Responsible for handling business research, marker surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• creates reports from the information concerning the financial transactions recorded by the bookkeeper
• Prepares the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Professional Drivers (Taxi Cab and Limousine Drivers)

• Serves as a professional driver for the organization by driving sedan and limousine et al as assigned by the management
• Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
• Keeps a record of vehicle inspections and make sure the cab is equipped with safety equipment
• Inspects vehicles for mechanical items and safety issues and perform preventative maintenance
• Complies with taxi driving rules and regulations as well as with company policies and procedures
• Reports defects, accidents or violations

Client Service Executive/Front Desk Officer

• Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
• Receives parcels / documents for the company
• Distributes mails in the organization
• Handles any other duties as assigned my the line manager

6. SWOT Analysis

Taxi cab cum limousine services business is one of the many businesses that can easily generate sales with little stress as long as they are well positioned and equipped to carry out their services.

We are building a standard taxi cab cum limousine services business with the plans to sell our franchise all across the United States of America and Canada which is why we have decided to subject our business idea (company) to SWOT Analysis.

Ordinarily we can successfully run a normal taxi and limousine services business without the stress of going through the required protocol of setting up a new business including writing a detailed business plan, but because of the fact that we intend becoming of the leaders in this line of business we want to establish, we don’t have any option other than to follow due process.

We hired the services of Mrs. Lillian Jacobs, an HR and Business consultant with bias in startups to help us conduct SWOT analysis for our company and she did a pretty job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Metro 24 – 7 Taxi®, Inc.;

The strategic locations we intend covering, the Business model we will be operating on, ease of payment, wide range of highly reliable and comfortable cars, limousines and SUVs, highly trained and courteous drivers and of course our excellent customer service culture will definitely count as a strong strength for Metro 24 – 7 Taxi®, Inc.

So also we have a well – experienced and qualified team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details.

A major weakness that may count against us is the fact that we are a new taxi cum limousine services company and we don’t have the financial capacity for now to compete with multi – million dollars taxi and limousine services companies that are already influencing the direction of the industry.

• Opportunities:

The fact that we are launching out in the heart of Miami – Florida, provides us with unlimited opportunities to market our services to a large number of corporate organizations, travel and tours agencies, hotels, government organizations and households et al.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they patronize our services; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power especially for luxury services like taxi can and limousine services.

Another threat that may likely confront us is the arrival of a new taxi cab and limousine services company with same locations where we operate. Government policies can also pose a major threat to businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

The market for luxury services such as taxi and limousine services is driven by the growth in the economy and the increase in consumers’ spending – in essence, as the general economy of a country grows, more people will have enough financial resources to patronize luxury services such as making use of taxi can or hiring limousine as against making use of public buses, and trains et al.

Besides, revenue generated by taxi and limousine services company is driven by business and leisure travel. No doubt, the profitability of operators in this industry depends on good marketing and networking.

As a matter of fact, small taxi cab companies can effectively compete with large ones because there are few economies of scale in this line of business. Research shows that the taxi cab and limousine services industry in the US is fragmented: the top 50 companies account for less than 35 percent of the total revenue generated in the industry.

Lastly, technology has indeed played a major role in this industry; especially in cutting cost and enforcing safety and monitoring measure.

GPS car tracking device readily comes to mind. There is hardly any taxi cab and limousine services company that does not have GOS car tracker installed on all their cabs. It helps them in monitoring their fleets and also in planning and budgeting et al.

8. Our Target Market

Before choosing a location to launch our taxi cab and limousine services company, we conducted our feasibility studies and market survey and we were able to identify those who will benefit greatly from our service offerings.

Basically those who will benefit from our service offering are households, corporate organizations, travels and tours agencies, hotels and government agencies. Below is a list of the people and organizations that our taxi and limousine services are designed for;

• Celebrities and public figures
• Even planners (limousine rental services for wedding and social functions)
• Travels and Tours Agencies
• The public sector; government ministries, agencies and parastatals.
• Organized private sector
• Corporate Executives
• Business People

Our Competitive Advantage

Taxi cab and limousine services business is an easy to set up business especially if you have the finance to acquire comfortable cars and the ability to run and manage a business.

It means that the possibility of taxi cab and limousine services business springing up in the location where our company is located is high. We are aware of this that is why we decided to come up with a business concept that will position us to become the leader in Miami – Florida.

Our competitive edge is that we are a standard and well equipped taxi cab and limousine services company that is positioned to handle both corporate clients and individual clients.

We can confidently say that the strategic locations we intend covering, the Business model we will be operating on, ease of payment, wide range of highly reliable and comfortable cars, limousines and SUVs, highly trained and courteous drivers and of course our excellent customer service culture will definitely serve as competitive advantage for Metro 24 – 7 Taxi®, Inc.

For the time being, Metro 24 – 7 Taxi®, Inc. has no real competitors that can match compete with the quality of services we offer and our business offerings et al. Our customer service will be customized to meet the needs of all our customers.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups taxi cab and limousine services businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Metro 24 – 7 Taxi®, Inc. is established with the aim of maximizing profits in the taxi cab and limousine rental services industry and we are going to go all the way out to ensure that we do all it takes to attract both individual clients and corporate clients on a regular basis.

We will ensure that we leverage on our strength and the opportunities available to us in the U.S. market to generate enough income that will help us drive the business to stability. We will go all the way to explore every available sources of income in the Taxi cab and Limousine rental services industry. Below are the sources we intend exploring to generate income for Metro 24 – 7 Taxi®, Inc.;

• Stretch limousines and buses rental services
• SUVs and large vans rental services

10. Sales Forecast

One thing is certain, there would always be corporate organization and individual clients who would need the services of taxi and limousine rental services companies.

We are well positioned to take on the available market in Miami – Florida and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our taxi cab and limousine rental services business and our clientele base.

We have been able to critically examine the taxi cab and limousine rental services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Miami – Florida.

Below are the sales projections for Metro 24 – 7 Taxi®, Inc. it is based on the location of our business and of course the wide range of related services that we will be offering;

• First Fiscal Year-: $240,000
• Second Fiscal Year-: $450,000
• Third Fiscal Year-: $950,000

N.B : This projection is done based on what is obtainable in the taxi cab and limousine rental services industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

The marketing strategy for Metro 24 – 7 Taxi®, Inc. is going to be driven basically by excellent customer service, honesty and quality service delivery. We will ensure that we build a loyal customer base. We want to drive sales via the output of our jobs and via referral from our satisfied customers.

We are quite aware of how satisfied customers drive business growth especially businesses like taxi cab and limousine rental services.

Metro 24 – 7 Taxi®, Inc. is a business that is strategically located and we are going to maximize the opportunities that is available which is why we spend more to locate the business in a location that will be visible and enable us to access our target market.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Metro 24 – 7 Taxi®, Inc.

Our goal is to grow Metro 24 – 7 Taxi®, Inc.  to become the leading taxi cab and limousine rental services company in Miami – Florida which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with in the Taxi cab and Limousine rental services industry. Metro 24 – 7 Taxi®, Inc. is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our taxi and limousine rental services business by sending introductory letters alongside our brochure to corporate organizations, travels and tours agencies, hotels, event planners, households and key stake holders in all across Miami, Green acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al
• Print out fliers and business cards and strategically drop them in offices, car parks, libraries, public facilities and train stations et al.
• Use friends and family to spread word about our business
• Post information about our company and the services we offer on bulletin boards in places like car parks, schools, libraries, and local coffee shops et al
• Placing a small or classified advertisement in the newspaper, or local publication about our company and the services we offer
• Leverage on referral networks such as agencies that will attract clients who would need our customized services
• Advertise our taxi cab and limousine rental services company in relevant magazines, newspapers, TV stations, and radio station.
• Attend relevant automobile expos, seminars, and business fairs et al to market our services
• Engage in direct marketing approach
• Encourage the use of Word of mouth marketing from loyal and satisfied clients
• Join local chambers of commerce and industry to market our product and services.

11. Publicity and Advertising Strategy

Metro 24 – 7 Taxi®, Inc. is set to establish a standard for Taxi cab and Limousine rental services business in Miami – Florida and throughout the United States which is why we will go all the way to adopt and apply best practices to promote our business. Good enough there is no hard and fast rule on how to advertise or promote a taxi cab and limousine rental services business.

The challenge is that most small and startups taxi cab and limousine services companies do not have the required money to pump into publicity and advertising. The cash they have will be reserved to take care of overhead and operational cost .

We will ensure that we leverage on all conventional and non – conventional publicity and advertising technique to promote our taxi cab and limousine rental services business. Here are the platforms we intend leveraging on to promote and advertise Metro 24 – 7 Taxi®, Inc.;

• Encourage our loyal customers to help us use Word of Mouth mode of advertisement (referrals)
• Advertise our business in relevant magazines, local newspaper, local TV stations and local radio station
• Promote our business online via our official website
• List our business on local directories (yellow pages)
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
• Install our Bill Boards on strategic locations in and around Florida
• Direct coupon mailing approach
• Engage in road show from time to time in target communities in and around Florida
• Distribute our fliers and handbills in target areas in and around Miami – Florida.
• Advertise our company in our official website and employ strategies that will help us pull traffic to the site.
• Ensure that all our staff members and drivers wear our branded shirts and all our taxi are well branded with our company logo et al.

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the taxi cab and limousine rental services line of business, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in the United States of America.

Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us or when they pay in advance for upward of 3 months. The prices of our services will be same as what is obtainable in the open market and it will be based on miles covered and time.

• Payment Options

The payment policy adopted by Metro 24 – 7 Taxi®, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. Here are the payment options that Metro 24 – 7 Taxi®, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a taxi cab and limousine rental services business; it might differ in other countries due to the value of their money. However, this is what it would cost us to set up Metro 24 – 7 Taxi®, Inc. in the United of America;

• The Total Fee for Registering the Business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits – $1,500.
• Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• Cost for hiring Business Consultant – $2,000.
• Insurance (general liability, car insurance, workers’ compensation and property casualty) coverage at a total premium – $30,800.
• The cost of accounting software , CRM software and Payroll Software – $3,000
• The cost for leasing standard office facility with enough parking- $100,000.
• The cost for facility remodeling – $10,000.
• Other start-up expenses including stationery – $1000
• Amount needed for phone and utility deposits – $3,500
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
• The cost for Start-up inventory (fueling, car tracking devices and accessories) – $50,000
• The total cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Credit card machine, POS, tables and chairs et al): $4,000.
• The cost of Launching a Website: $600
• The total cost for financing the acquisition of the first set of cars and limousines – $500,000
• The cost for our grand opening party: $15,000
• Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully launch our taxi cab and limousine rental services business in Miami – Florida.

Generating Funds/Startup Capital for Metro 24 – 7 Taxi®, Inc.

Metro 24 – 7 Taxi®, Inc. is a business that will be owned and managed by Kennedy Williams and his friend and business partner for many years Henry Sean. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources. These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings and sale of his stocks
• Generate part of the start – up capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $550,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have and the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Metro 24 – 7 Taxi®, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our services a little bit cheaper than what is obtainable in the open market.

We are well prepared to survive on a low level profits margin for a short period of time. Metro 24 – 7 Taxi®, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of.

Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Acquiring facility with enough parking lots and remodeling the facility: In Progress
• Acquiring of cars and limousines: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed pressure washing machines and industrial cleaning equipment, electronic appliances, office appliances and bar accessories: In progress
• Creating Official Website for the Company: Completed
• Creating Awareness for the business both online and in the neighborhood: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Establishing business relationship with key stakeholders in the industry et al: In Progress