PHV business tips to make more money

PHV business tips to make more money

How Can a PHV Driver Make More Money?
 Operating inefficiencies harm micro-businesses.
 Fuel costs average £100 per week for PHV drivers in UK.
 Earn rewards buying fuel, food and car washing.
 54% of UK micro-businesses still use pen and paper for accounting.
 Use programmes like QuickBooks and Ecoslips for PHV book-keeping.
 Renew PHV Insurance with the INSHUR App.

How Can a PHV Driver Make More Money?

You drive PHV to run your own business and for the independence and freedom it provides. But let’s
face it, you mainly drive to make money. Earning a decent living is key, and if that means you must
put in many hours and miles, so be it, you’re prepared to do that to make the extra.
However, while you’re busy driving to make more money, what about business inefficiencies that
are costing you money? Sometimes, the losses you’re racking up outweigh the added cash you’re
making. Fortunately, there are simple changes you can make to change this situation. Follow the tips
below to run your business right and earn more without ever driving an extra yard.

Reward yourself: One of a PHV driver’s biggest expenses is fuel. A 2016 survey put the UK national
average at £100 per week. Over the year that’s a lot of money. It’s also a lot of lost opportunities if
you’re not collecting something more at the same time. Using just one credit card, or points paying
debit card, to buy all your fuel adds up to an awful lot of points by year-end. Depending on which
card you’re using and what their rewards programme offers, this could go towards air travel, hotel
stays, goods, services, even car related goodies like discount tyres and wiper blades. Use the same
card to buy all your fuel. Collect your rewards in one big pot.

Go by the book: Another survey, this time by accountingweb.co.uk, found that 54% of UK micro-
businesses still use pen and paper to do their accounts. For PHV drivers, this snowballs into time
consumed doing the books when they should be driving, and more costs with the accountant to
prepare the annual tax return. Move your book-keeping over to an easy-to-use digital programme
like QuickBooks, turn your paper receipts into digital copies with an app like Ecoslips. Save a few
trees and make money doing so.

Squeaky free: As with buying fuel, keeping your car clean is a business requirement. If you want to
earn tips and five-star ratings, you can’t put passengers in a dirty vehicle. Car washing costs also add
up. It’s tempting to get this done on the fly when you’re quiet, but that’s inefficient. Find a good
service and stick with them if they offer a loyalty programme – one free wash with every ten type-of-thing.
Stay clean, save money.

Joe on the go: Loyalty programmes also apply to those daily extras you buy – like a cup of coffee.
Once you find a good chain, with shops scattered across your typical working area, stay with them
and pick up points to earn a free cup of joe on the go.

Go with the App: Lastly, if you’re reading this, you may already use INSHUR for your PHV insurance.
If not, then check it out when it’s time to renew. Use the INSHUR app to get a quote and buy your
policy direct from your mobile phone. No office visits, no paperwork, no hanging on the line. It’s
usually done in minutes, making it easier for you to get on the road and keep taking rides. Get
covered quicker, be back in business faster.

Fuel costs survey: Insuretaxi. Taxi Driver Survey 2016 – Taxi Insurance
Accounting Web: https://www.accountingweb.co.uk/community/industry-insights/small-businesses-still-using-inefficient-accounting-methods