How Do You Start a Paper Shredding Business
There are actually a number of ways to deliver a paper shredding service, depending on the needs of your clients. A paper shredding business works on a simple business model, taking a heavy-duty or commercial strength shredder ( usually on a trolley ) to your client’s premises where you set up your shredder and get to work shredding any records your client wants to be destroyed.
When the job is completed and all records are destroyed, you remove the shredded paper from your client’s premises and dispose of it in a secure manner.
To start your paper shredding business, you luckily don’t need any formal education, but you will need to have a professional image. Time management and scheduling skills are also important.
The primary piece of equipment you need is a heavy-duty shredder that will set you back around $300 – $400. You also need a trolley of some kind to be used for loading and unloading your shredder and other consumables from your vehicle.
Additionally, you should be having a computer printer, fax, and a cellphone. Depending on the selection of equipment, it will cost you anywhere between $2000 – $6000.
You will also be investing in consumables such as garbage bags, and office supplies. Apart from what we have mentioned above, you require to make business cards and other promotional materials to advertise your services.
It is also a good idea to have insurance in order to indemnify your business against any loss you may cause to your clients. The total startup costs including your equipment and office supplies will range between $4000 – $ 8000.
A typical confidential paper shredding business charges on a per-visit basis. The price will vary, depending on the volume of paper to be shredded. If you are working from a home location, your overheads will be relatively very low and you can calculate your fees based on an hourly rate of around $25.
Don’t forget to factor in traveling and disposal time and charge accordingly.
Your potential earnings from providing a confidential on-site shredding service will be between $20,000 to $40,000 per year.