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Putting a taxi on the road

  • 12-08-2007 8:28pm
    #1
    Lamps
    Closed Accounts Posts: 205 ✭✭


    My dad and i are thinking of putting a taxi on the road between us.

    My dad doesnt sleep and likes to be kept busy so he thinks its ideal for him. I only work a 33 hour week, am often bored and would like the extra cash.

    We havent really looked into it that much yet, but would like to set up before the xmas period. were going to call around during the week to arrange a date for the exam (how difficult is it?).

    How much are we looking at for insurance? We were thinking of buying an avensis or something like that for around 5k - 2.5k each. Bare in mind im only 24, full licnence and 1 year NCB. So even if insurance is expensive, lets say around 3k, thats another 1.5 k each.

    then to buy the plate it looks like will cost another 6k.

    So to set up will cost roughly 7k each. Which will be a lot of part time driving for me to pay back. Although my dad is likely to work most weekends and I can see him doing his other job less and less (he's getting older and struggling to cope with the physical demands) so i reckon it will be definelty worth is while.

    What do you's think?Is it worth me investing in it? Is the money there to be made? Is our idea of sharing a car and a plate good?


Comments

  • #2
    ToxicPaddy
    Moderators, Business & Finance Moderators, Society & Culture Moderators Posts: 9,763 Mod ✭✭✭✭ToxicPaddy


    Eh I'd think again about insurance costs, I've heard quotes up to €9k for guys starting off.. Remember you're driving late at night and putting in long hours on the roads and carrying passengers, exactly what insurance companies class as the very high risk categories.

    Don't assume anything in this business, get exact quotes and be prepared for a few shocks. Remember also that the car will be doing high miles so being serviced a lot more. Might be worth remembering that when choosing a model. So maybe something cheaper to service and get parts for like a ford.

    I'd also suggest an automatic as it will make it easier on the aul knees too.

    If you put in the hours it could be a very successful side business, but you will need to put in the hours.

    Tox


  • #3
    mac1970
    Closed Accounts Posts: 14 ✭mac1970


    Taxi plates are normally around 6k but you will be able to get a complete package of roof sign,metre and plate for less if you check the clasifieds especially the evening Herald then get the owner to transfer to your name through the NCT.Call the NTDU for advice but don't sign up,insurance is average 1.5k-2k with AXA and Quinn direct being the better options.If you are planning to drive in a village and not in the cities/towns


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