Paper shredding is a great opportunity to start a small profitable business with increased regulations. There are many things to consider when starting a recycling business.
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Step 1: Create a business plan
It is not a good idea for a new business to be unfamiliar with the market. Analyze the local competition. You should identify any niches that are under-served. Is there space in the community to allow a new entrant to enter? It is important to first create a business plan before applying for funding. The local economic development council may have resources that can help you in this area. They may be able to offer funding options, such as applying for an SBA-approved loan through your local bank or other sources.
It is a smart idea to contact the appropriate trade association, in this case the National Association of Information Destruction. You can also read relevant industry publications like Security Shredding & Storage News. Trade associations can connect you with small operators in other parts, and case studies in trade publications can be very useful.
Step 2: Understanding Investment Requirements
Equipment and space are essential. You will need space and equipment if you are operating a facility-based shredding business. However, even a mobile service will require some room for storage, baling, and loading docks.
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According to paper shredding veterans, it is always a good idea to have at least two people doing each activity. One person can market and find new businesses that need paper shredding services, while the other can carry out other tasks. A van, small truck, shredder and paper baler are all necessary.
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Step 4: The regulatory requirements
Although the usual business advice is applicable to small business license and permit requirements, one author emphasizes that paper shredding businesses are in the safety and security sector, so you might need certain permits or licences from your locality to be legally operating.
Step 5: Start Your Business, and Concentrate on Marketing
To get your business moving, you will need to invest in marketing. You should consider the following small business marketing tips. Be unique and build lasting relationships. NAID offers Certified Secure Destruction Specialist Accreditation, which can be a way to differentiate yourself.
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These are some helpful tips: The US paper shredding market has a very competitive environment with a downward pressure on prices. The keys to paper shredding success are security and confidentiality. These two words should be your main selling point. You should be familiar with the local laws regarding identity theft. Also, make sure to give a certificate of destruction at the end.