Every taxi and private hire driver knows the importance of making great earnings. This has become increasingly significant in recent years with the rising cost of living and growing expenses of running a business.
While each driver develops their own strategy over time, there are a few core tips that all taxi drivers should consider when looking for ways to boost their profits.
Top tips to help taxi drivers maximise their earnings
1. Choose your hours wisely
Many drivers focus on peak times in busy areas, such as evenings and weekends around restaurants and bars. Though demand at these times is higher, competition between drivers can be higher too, which can make it harder to pick up fares.
On top of working peak hours, consider trialling quieter shifts, such as early mornings or late nights during the week. You may see fewer jobs overall, but with less competition, those fares can be easier to secure which could see your earnings go up.
2. Consider airport runs
Airport runs are a popular choice amongst taxi drivers. Planning your hours should be fairly straightforward, as you can check arrival and departure times online to spot the busiest times. You could even try working early mornings and late nights when public transport isn’t available to see if it generates more income.
Before getting started with airport runs, make sure to factor in any pick-up and drop-off charges first.
3. Keep up to date with big events in your area
Got a big football match, concert, or theatre show coming to your city? Keeping an eye on local events is a great way to spot when demand will be higher. These events often mean more fares than usual, which can make a real difference to your earnings.
4. Provide excellent customer service
Your reputation plays a big part in your income when you work in a customer-facing role. Keeping your vehicle in top condition and delivering a high standard of service helps create a strong impression, which keeps customers coming back.
💡 If you want more tips on how to boost customer ratings, read our article: How to improve customer ratings as a UK taxi driver.
5. Reduce business costs where possible
As a taxi driver, you have several costs to consider, including vehicle maintenance, fuel, your taxi badge, and taxi insurance.
While these are all essential business costs, it’s always beneficial to look for ways to save where possible. Some costs, such as your taxi badge, are fixed, but you can look for savings in other areas.
For example, you could:
- Fill up at cheaper fuel stations: using comparison apps and websites such as PetrolPrices, Waze or MyRAC.
- See what you could save on your taxi insurance: review your cover at renewal to make sure it still meets your requirements. Using a broker like Patons Insurance can also help you see if you could be getting a better deal elsewhere.
Bottom line
Having a clear plan for your working hours can make a real difference to your earnings. Using our top tips, you can make the most out of every hour you spend working on the road.
Looking for a better deal on your taxi insurance? Let us help. When you choose Patons, we do the work for you by comparing quotes to find you a suitable policy at our best price. And even better, when you’re insured through us, we’ll give you £50 for every friend you successfully recommend to us! (T&C’s apply).
Contact us for a quote today on 0333 015 6886 or fill out our quote form to get started.
