There are many people who have lost their jobs due to the pandemic including a significant number of taxi drivers. However, things seem to be picking up in the taxi trade so it is possible that there may be opportunities to become a taxi driver. One of the decisions you may need to make is whether to be employed by a taxi firm or run your own taxi business say on a self-employed basis.

If you are taken on by a taxi firm on an employed basis then you will not have to worry about investing in the purchase or lease of your own taxi as one would expect that you would be using a vehicle provided by the taxi firm that employs you. This should save you a significant outlay. You may have the option to be able to work on a part time or full time basis. You may be lucky and earn some tips that, hopefully, your employer will be agreeable to you keeping for yourself. If the taxi breaks down then you will not be responsible for any repair costs.

Another option is that you could rent a taxi from a local taxi firm. You would pay the taxi firm a weekly or monthly rent for the use of the vehicle plus you would also be responsible for such things as paying the fuel costs. It is quite possible that the taxi firm renting you the vehicle may pay the taxi insurance. You would keep any fares that you take as well as any tips.

A further option is that you set up your own taxi service business meaning that you will be responsible for such things as the cost of buying or leasing the taxi, insuring the vehicle, putting fuel in the taxi and any repair bills. You would receive all fares and tips. Who knows, if you make a success of the business, you may be able to take on other drivers.

As you can see, there are pros and cons of being either an employed or self-employed taxi driver so you may wish to obtain some professional advice in this respect.