Just about every taxicab driver out there will tell you that "time is money". What they will often forget to point out, however, is that time only translates to money when it is used productively.
Many novice taxicab drivers will tell you that the best runs are those from the downtown core to Pearson International Airport. These runs can easily fetch a driver $50. Thus, drivers will often wait by the downtown hotels waiting to "cash in" on one of these runs.
The reality behind financial success as a taxicab driver, however, is not that simple. Although airport runs are good runs, waiting around an hour or so just to get one of these is usually counterproductive. Let us see why.
Waiting one hour to get an airport run often means sitting idly for sixty minutes. On a cold winter day it may also mean burning fuel to keep warm. Once you do get an airport run and you finally drop off your passenger at the airport you will often make your way back downtown. If you are lucky you may find a fare along the way. Most often, however, you drive back empty. This is a highly unproductive use of time and fuel.
On the other hand, playing the downtown area and taking one short run after another can be highly lucrative. Why? There are a number of reasons, including:
- For every short run you get a base drop of $4.00. This is the equivalent of driving approximately three kilometres, but without taking the time or burning the fuel.
- Short runs do not usually take you out of the downtown core, which means that you are always within quick reach of the next fare.
- Short runs are frequent and easier to find. You do not have to wait long to get one. This means that there is a passenger in your backseat more often than not. And when there is a passenger in the seat, the meter is running.
- Finally, tips are likely to be better on a short trip because passengers will compensate you for the low cost of the fare.
Remember, ANY fare is a good fare! The trick is to have someone in the back seat of your taxicab all the time.
