Source: Pexels.com
I was thinking of business ideas to start as a side hustle/passive income in parallel with my job to do on the weekends.
One thing that came to my mind was to buy a cab and put it on rent with Uber.
Did a light research online but most of them who've already done this said that it is not very profitable these days if you keep a driver and pay his salary.
They mention that if you're the owner and the driver, then you can expect to make some profits.
I think it would work out better if there was a driver since it frees up a lot of your time to plan other things/expansion.
But getting a driver these days is a task.
That too getting a reliable driver who will not cheat and will maintain your vehicle like his own is a larger task.
If this business works out then the fleet will go on getting bigger and bigger.
Then I could add luxury vehicles to the fleet and expand it to other domains like wedding rentals, airport and corporate rentals.
However, whether this idea is feasible or not- only a thorough market research will tell.
This was just an idea floating around in my head today so I thought of sharing it on Hive because I've decided to be active in here.
So, here I am writing about it on today's post.
If any of you have tried your hands in the cab business, share your experience in the comments below.