Florida is a pretty big State so you would think there is plenty of business to go around if you own a taxi company. However, for those of you that don’t know, this is a highly competitive market! Cities like Orlando, Tampa, Miami and a host of others are all massive tourist attractions and many thousands of people pass through each year.
You might be forgiven for thinking that tourists alone will be able to sustain a cab firms business but this isn’t the case. You need to make sure you have regular custom from the locals as well. Perhaps you’ve managed to land a contract with a hotel (or two) which means you get “first go” on anyone who is staying there and doesn’t have transport of their own. They might need a friendly face to ferry them about the city so they can go to business meetings, or take in the sights. It could also be that your cab drivers are the first in line for airport runs as well.
This is just one example of how you can ensure you get regular business all year round however; if you intend to expand your taxi business there is always going to be the question of advertising. After all, you won’t get extra business if prospective clients don’t know you’re there! This is where third party advertising can really help.
What Is Third Party Advertising?
This is actually a very clever idea. We’ve all seen cabs rushing about the city with stickers on their bumpers, plastic type billboards on top of the taxi and even signs that are illuminated from inside. All of these are what’s known as third party advertising and it can really help not just your business but others as well.
For instance, you can contact various businesses in your local area like restaurants, hotels, tour operating companies and a whole host of others that will benefit from having their name on your cab. If you think this is going to need the hard sell, think again! You have a very strong argument when talking to various other business owners in the area.
Think about it? The average taxi driver across the State of Florida who operates in the major cities is passing by an ever growing population each and every day. In an average month a cab driver
will cover up to 5,000 miles and take anything from 800 to 1100 rides during that time. The exposure is massive!
How Third Party Advertising Works
This is a very easy question to answer. The company you’re in talks with pays you a monthly subscription each month so they can have their name and contact details on your cab. Of course, the amount you charge will all depend on how large the advertisement is going to be.
For example, you can charge more for having a roof mounted ad or one that’s illuminated inside. Basically, the smaller that ad, the less you charge. Things like bumper or side sticker advertising will cost less as will adverts that are inside the taxi as oppose to outside.
There are of course, companies that will handle setting something like this up for you which means you can get on with the business at hand (getting customers to their destinations safely). However, there are pluses and negatives to this. On the plus side you’ll have professionals at your side that know where to start, and how best to make sure you get the right businesses advertising with you.
On the downside, you will have fees to pay so this will lower the amount of income you receive. If you are thinking about taking this route, make sure you weigh up the pros and cons carefully.
Does This Help Your Taxi Business?
This has to be an emphatic yes! Why? Because the additional revenue you receive from other companies advertising with you means you don’t have to take extra money out of your overheads in order to maximize your own advertising prowess.
Anyone who owns a taxi firm across the State of Florida is well aware that advertising is the one thing that’s pretty much unavoidable and as mentioned, this is because of the amount of competition there is. Sure, you may already have a budget set aside for a monthly leaflet drop or a subscription in the local business directory, but imagine being able to pay for an ad on the radio without having to worry where the money is coming from?
It’s a Win-Win Situation
By helping other businesses to get their name out there, you’re helping to fuel the expansion of your own taxi firm. It’s not just about taking some extra income each month so you have more to spend on making sure your own company gets the recognition it deserves, it’s about building bridges as well.
Perhaps you’re lucky enough to already be a well established cab company in the local area? In which case you may think third party advertising isn’t something you need to think about. This couldn’t be further from the truth! Instead of taking a monthly subscription from say, a restaurant, think about sharing customers.
In return for a mention on your cabs, they will make sure you’re the firm their customers call when they need a ride home. The possibilities with third party advertising are endless and it really will help you expand your taxi firm if it’s implemented and managed properly.