The number of independent business owners is growing every day and this is just as true in the UK as it is anywhere else.
One industry that has taken hold quite nicely is the private hire taxi service.
Taxis have been in and around London for many years of course and as you can imagine, they will have a bit of competition.
The private hire scene will have trouble competing with public hire taxi companies simply because of the limitations placed upon them.
For example a private hire taxi will not be able to park in places that many public taxis would consider normal.
This can lead to a loss of business in some cases, though it really comes down to how well you can market your company to the general public.
Another thing you will need to concern yourself with is the insurance for your cab company and as luck would have it there are more than a few companies out there willing to set you up with the right insurance at the right time.
In fact, there are many who will respond within a single working day, giving you a decent quote and preparing you for your new career.
There are a few limitations you should expect from a minicab insurance company.
For one, you may not be able to park your cab in any location you please.
Pick up and drop off locations will typically be designated by the insurance company and you will need to follow these rules to the letter lest you lose your contract with the insurance company.
It is not uncommon for them to check up on your company and ensure you are following all of the pre-determined rules.
When you are shopping for your minicab insurance it would be a good idea to take several different companies under consideration.
Many people will make the mistake of choosing the first insurance company they come across and this is a miscalculation.
Always make sure to call multiple insurance companies and ultimately make sure that your choice is sound.
When you are buying your insurance online you will be dealing with competitive prices; insurance companies, especially those based online, need to keep up with rival companies and ensure that they can match their prices.
This gives you quite the advantage as you will have more leverage when choosing the features of your package.
Most companies will be able to provide you with immediate cover which means you will be able to hit the ground running.
That being said, there is no reason for you to keep your fleet of cars uninsured! Call as many insurance companies as you can find, compare the quotes and even talk to other cab companies to see what insurance company they deem to be the best.
If you feel you cannot take the word of the company, then experience will always speak to you.
That being said, it's time to get insured and hit the streets of London.