Industry Analysis & Industry Trends
Stable revenue growth and heavy regulation have characterised the Taxi and Limousine Transport industry over the past five years. While industry services are well accepted across most demographics, they are discretionary and easily substituted. Weak discretionary income growth, fluctuating consumer sentiment and high household savings rates over the past five years have suppressed overall demand for taxi services, with consumers flocking to cheaper public transport providers. Industry revenue is forecast to rise modestly, by an annualised 2.0% over the five years through 2015-16. Over the current year, revenue is forecast to grow by 2.3%, to $5.7 billion... purchase to read more
Industry Report - Starting a New Business Chapter
The industry is characterised by medium barriers to entry, the majority of which are due to regulation and industry operating standards. Cost can also provide a significant barrier to entry, with operators required to invest in costly licences prior to entering the industry.
A substantial capital investment is required in order to buy a taxi licence. Market prices for taxi plates are volatile and change from year to year. Prices may reflect factors that affect future taxi profit, such as trends in tourist, business and consumer numbers and government-determined availability... purchase to read more