Taxi medallions are a special type of license that allow cabs to operate in specific areas of the city. They are usually only available to taxi companies that have been approved by the city, and they can be expensive to get.The licenses usually have restrictions on where they can be used, and often require adherence to certain regulations. For example, a taxi medallion may not be able to be used in busy areas of the city during peak hours, or near airports or train stations.
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Taxi medallions are valuable assets for a cab company, and they can often fetch a high price when sold.
How does the Cab Industry Work?
Taxi driving is one of the most stressful jobs out there. For one, you're constantly on the lookout for accidents and law enforcement. You also have to deal with impatient customers and unsteady weather conditions. However, there are some things that make cab driving even more difficult. Here are five of them:
1. Traffic congestion: Cab Drivers spend a lot of time in traffic, which can be frustrating when it's not flowing smoothly.
2. Weather conditions: A bad weather condition can make it difficult to see and drive in the rain or snow. And if you get stuck in a snowstorm, your cab driver will have to work extra hard just to keep his passengers safe.
3. Aggressive drivers: Not all cabbies are polite and responsible drivers. There are those who take advantage of their position and demand too much money from their passengers.
4 Difficulty finding a cab: Cab Drivers often have to wait in long lines, which can make it difficult to find a cab when you need one.