After the inception of ride-hailing services and on-demand taxi apps, the UK industry underwent a drastic shift in the transportation system.
Since these services acquired most of the market shares, traditional taxi businesses were greatly affected.
A statistic report that the UK industry will grow at a compound annual rate of 2.1% in the next five years to reach 9.7 billion (as in Euro).
However, it is believed that the initiation of contactless payments in taxis and Uber losing its license to operate in London increases the demand for traditional taxi businesses again.
Here we will explain a few things that you have to concentrate when you start planning your business strategy.
First things first, so plan a precise business model based on your operating way.
