Starting a new taxi business?

Hi. I live in a small village between Milton Keynes and Bedford and close to the M1. The village has no taxi services so if you want a taxi to anywhere you have to organise one from the above big towns - quite expensive. I am looking at the option of starting a private hire company to service this small opportunity.

What do I need to start one - apart from a car! - and whats the difference between a taxi business and a private hire business

Its early days so just at the planning stage.

Any useful information is appreciated

Contact your local Business Link for lots of free help and information on starting your business. They'll point you in the right direction for licences, which you'll need if you want to be a reputable company.

You'll also need a good despatcher to ensure your drivers are all where they should be at the right time. Insurance is another important issue.

Above all, your marketing is crucial. Your target market sounds quite tight, which makes it easier. You can probably drop leaflets through doors. Runs to and from Luton airport could be quite lucrative for you, or even Heathrow, Gatwick and Stansted. In fact, you're quite well situated to go up the M1 to East Midlands as well.

Good luck!

What kind of legal insurance will you have for your business?