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Capital: The backbone and the bedrock of every thriving business solely dwell on its financial strength, a sustainable budget should be set aside to fund the business. Starting with a small capital is also acceptable considering the thriving of the taxi business. You can also source for the capital through fundraising or micro-loan scheme.
Location: The location has a great role to play. You must be in a highly populated area where people troop in and out on a daily basis, a commercialized area with companies where you can move staffs and customers about. The residence is also important when considering a location, residential area in the cities brings high earnings due to the fee you charge for services and limited buses plying the route.
Registration: Vehicle must be registered with the authorized organization to get the appropriate license for the vehicle; registration comes with a lot of hassle in Nigeria due to many uncertified bodies involved in getting the vehicle license. Therefore, you must ascertain the validity and authentification of the registration of the vehicle. This will prevent an undue arrest of person or vehicle. You are advised to visit MVAA office for your vehicle registration.
Vehicle type: You must be sure of the vehicle you are using as a startup, the vehicle must be environmentally friendly, make a consultation to competent mechanic within your location, and the fuel efficiency must also be considered, the durability and maintenance value.
Remittance method: This consists of two major efficient way of handling the taxi business effectively.
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