Is it worth being a taxi driver in the UK?
Yes, being a taxi driver is a worthwhile profession in the UK. What makes this job attractive is the freedom to be your own boss, set your own working hours, and have control of your earnings.
This article highlights the benefits of being a taxi driver, so you can make a more informed decision, whether you operate public hire or private hire vehicles in the United Kingdom.
Understanding the ins and outs of what to expect from the taxi industry puts you in the driving seat of your career – figuratively and literally.
8 benefits of being a taxi driver
Taxi driving has many advantages, from flexible schedules and opportunities to explore your city’s surroundings to social interactions with diverse passengers.
Let’s take a closer look:
1. Flexible schedule
One of the most attractive aspects of cab driving is flexibility.
Whether you prefer early mornings, late nights, or weekends, you can tailor your taxi service to suit your lifestyle and needs. A flexible schedule is particularly appealing for those with family commitments or other responsibilities, whether you opt for a full or part-time driving job.
2. Work for yourself
As a taxi driver, you are your own boss. This allows you to make decisions about your business, from setting taxi fares to choosing where and when you want to work.
This level of independence is incredibly rewarding for self-employed cab drivers or those working through ridesharing platforms like Uber or Bolt. It allows you to balance personal commitments without affecting your driving job.
3. Determine your earnings
Your earning potential as a taxi driver is largely based on your work ethic and day-to-day business operations. Not putting in enough hours will result in smaller incomes, whereas working consistently – such as operating during peak hours or in high-demand areas – can substantially raise your earnings.
The more you work, the more you earn.
Bonus read: [How profitable is a taxi business]
4. Easy to get started
Becoming a UK private hire taxi driver is relatively straightforward and affordable compared to other entrepreneurial ventures. All you need before picking up your first passenger is:
- A reliable private hire vehicle (PHV)
- A valid PHV operator’s licence
- To complete a few driver safety tests
- Taxi insurance
Bonus read: How To Start A Private Hire Taxi Business In The UK
5. Explore your city
Working in the transportation sector offers a unique chance to explore your city in ways most people don’t. This makes every day different from the last – an appealing contrast to monotonous office jobs.
As a taxi driver, you’ll become familiar with local streets, landmarks, tourist spots, and hidden gems. This knowledge enhances your experience and the ability to deliver exceptional service to your passengers.
Bonus read: How to be a good taxi driver.
6. Driving for a living
If you love driving, being a taxi driver is the perfect profession.
What’s better than being paid to do the thing you love?
7. Growth prospects
Many drivers use their experience and networks to build successful businesses in the transportation industry. With enough starting capital and business savviness, you can expand your operations by hiring other drivers to increase your income and market share.
Operating as a lone private hire driver will only get you so far. Additional services like airport transfers, private tour guides, or corporate accounts can diversify your offerings and clientele and increase your revenue streams.
8. Meet new people
The best part of being a taxi driver is meeting new people. Taxi drivers come into contact with different people from all walks of life. This can be incredibly rewarding as the social aspect of driving cabs adds a human element to the job.
Final thoughts
As you can see, being a taxi driver is a worthwhile profession. It’s relatively easy to become a private hire driver in the UK and the allure of setting your own hours and having control of your earning potential far outweighs the constraints of a 9 to 5 job.
Good luck with your venture and drive safely!
Frequently Asked Questions
As with any career, there are drawbacks to being a taxi driver:
- Long hours: Taxi drivers often work irregular shifts, such as early mornings or late at night.
- On your own: Starting your own career in taxi driving can be stressful as the responsibility of business expenses – licence renewals, vehicle maintenance, tax obligations, etc. – falls solely on you. When you work for yourself, you lose the luxury of paid annual leave, sick days, and bank holidays.
- Financial uncertainties: Your income can fluctuate, depending on the hours you work. Traffic, weather, being involved in a car accident, or getting sick are potential setbacks that could affect your revenue stream.
- Tense situations: Dealing with difficult passengers, traffic congestion and tight deadlines can be stressful.
- Stiff competition: The taxi industry is competitive, with many drivers vying for a slice of the pie, potentially affecting your earnings.
- Isolation: Working long hours as a solo private hire driver can lead to feelings of loneliness and isolation.
The hardest part of being a cab driver is having to work long hours.
In short: It depends. Taxi drivers’ earnings are based on how many hours they work. The average UK taxi driver earns around £20,000 – £30,000 annually.