Have you ever wondered how to start a taxi business in Cameroon??? if yes then this article was specifically written for you.
Starting a taxi business in Cameroon in 2021, is one of the easiest ways that anybody in Cameroon (entrepreneur) can become a millionaire.
The transportation business is one of the most lucrative in Cameroon and in any part of the world because movement from one place to the other is a necessity and the growing human population in Cameroon makes taxi business highly profitable and an evergreen niche for the entrepreneurs in Cameroon who are looking for a profitable low risk business in Cameroon to invest on.
The fact that it would be impossible for everyone to own a car in Cameroon, makes Taxi business an all round profitable business.
Even if everyone own a car, we all not have the zeal and the right circumstances to drive ourselves around for 365 days multiplied by the numbers of years possible?
So whether you intend to start a taxi business in Cameroon for intra or interstate travel, you will still make lots of money.
In this article, i will take you through the practical steps you need to put into consideration when starting a taxi business in Cameroon no matter the size or location.
Below are the procedures/steps you need to follow in order to start a successful taxi business in Cameroon.
Steps To Starting A Taxi Business in Cameroon
- Choose the Right Car
Just like any other business, you need the right tool for the trade in order to succeed.
Some people wonder why they can’t make lots of money in taxi business even though their peers are making lots of money, building houses and buying new cars.
The main reason why most people don’t succeed in taxi business in Cameroon is simply because they choose the wrong car for the business.
Listen! not all cars are suitable for a commercial transportation business in Cameroon.
So if you are looking to buy a car for the transportation business in Cameroon, there are some factors (taxi business requirements) that need to be considered and will determine the success of your business.
Below are some factors to consider when shopping for a car to start a taxi business in Cameroon.
You would not want to use a car that is fuel thirsty for commercial purposes as it will eat deep into your profit and you will end up running at a loss.
COST OF REPAIR AND MAINTENANCE
Some cars have high maintenance factors.
Since all cars develop faults from time to time, you must choose one that has low-cost maintenance.
For example most people have stopped using Toyota Lexus ES330 for taxi business in Cameroon due to the high cost of maintenance which eats a huge chunk of their profit.
AVAILABILITY OF SPARE PARTS
There are cars whose spare parts cannot be easily found on the Cameroonian market.
Avoid buying these types of cars as you will find it problematic later on when you need to replace old, damaged or worn-out parts when they need replacement.
CONDITION OF THE CAR
It does not necessarily have to be a brand new car but ensure you buy a car in Cameroon that does not have faults as it will put lives and your business at risk.
STATE OF CAMEROONIAN ROADS
You need a rugged car to ply Cameroonian roads because of how damaged they are. Only a car that can drive through and stay sound should be used.
Summarily the 3 words that should be at the center of your mind when searching for a good car for Taxi business in Cameroon are durability, fuel-efficient, and low maintenance cost.
So Which Car Is Good For Taxi In Cameroon?
Following years of experience in Cameroon’s transportation industry trends, we have identified
9 best cars for taxi business in Cameroon that will enable you to spend less amount of money on fuel and repairs thereby enabling you to maximize your profit.
Below are the best cars to use for Taxi business in Cameroon.
- Toyota Corolla
- Toyota Yaris
- Toyota Camry
- Honda Accord
- Toyota RAV4
- Toyota Avensis
- KIA Rio & Hyundai Accent
- Honda City
- Volkswagen Vento
2) Get The Capital Required For Taxi Business
Taxi business is a lucrative business but capital intensive due to the high cost of buying a vehicle, even if you decide to start with just one car, it will still involves
start up capital.This will be used to buy a fairly used car to start your taxi business, you can buy products like Mazda, Opel, Mitsubishi, Toyota Corolla, and other related cars that are durable and cheap to maintain.
You can get your capital either through funds from family and friends or simply obtain loan from micro finance banks , it might even be your own personal savings.
It is advised you start your taxi business in a small way and then grow to the level of owning fleet of cars.
Ensure you buy a good car that can pay back what ever you have borrowed.
3) Decide On Rental or Hire Purchase
Rental in cab business means you give the car to the driver and he gives you returns on a daily basis, you will remain responsible for the car registration at any motor park,
license, maintenance and repairs.
If you choose the hire purchase arrangement, the hirer take full responsibility of
the car which includes registrations at motor parks, licenses, maintenance and repairs of the vehicle. Which ever one you choose, it is important you carry out proper background checks on any driver you intend to rent or hire your car to.
They should provide guarantors who can testify to their good and recommendable character and integrity, and ready to stand for them and be held responsible in case of any problem. Remember, if you don’t carry out your investigation properly and you fall into the wrong driver, he may use or drive your car recklessly, damage your car or even sell it out-rightly, pocket the money and disappear. So make your research right before employing any driver.
Determine Where You Want To Run Your Taxi Business in Cameroon
The areas you choose to run your taxi business will determine how much your driver will deliver to you on daily basis and this daily delivery is only applicable if you choose a rental service.
4) License And Mode Of Dressing Is Important
You must ensure that your drivers have the acceptable commercial driver license.
This will help your driver to avoid embarrassment from the law enforcement agents on
their daily activities.
Some drivers think their job is just to drive car and drop their passengers at their destinations and so, this makes most drivers look so unkept that they cause a lot of discomfort to the passenger/customer.
You could just introduce dress code to your drivers. People address you base on how neatly you are dressed so make sure your drivers are neatly dressed.
When your business is fully set for operation, all you need to do is watch your business grow and then think of how you can expand in your taxi business.
Wish you all the best in your taxi business and getting ready to read your success story soon.
Ok we have come to the end of this article, if you have any question to ask or need a good car for your taxi business, WhatsApp Us.