Thinking about opening a shredded paper business? We tell you what you need to know to get started.
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Creating a Business Plan for a Shredded Paper Business
One of the worst mistakes you can make as a small business owner is to not create a business plan.
The key benefit of writing a business plan is that it defines the game plan. If you don't have a business plan, your leadership will be handicapped, limiting your shredded paper business's ability to succeed long-term.
Start by defining your business mission. The process of writing a mission statement doesn't have to be complicated. From there, it's time to initiate the hard work involved with writing the rest of your shredded paper company's business plan.
Take a Look at the Competition
Long before you open a shredded paper business within your community, it's essential to determine what the competition looks like. We've provided the link below to help you generate a list of competitors in your area. After clicking on the link, type in your city, state and zip code to get a list of shredded paper businesses near you.
Before you open up shop, make sure you know what you will offer to your customers that provides a significant advantage over your competition's offering.
Learning More About the Industry
If you want to open a shredded paper business it's a smart move to learn as much as you can from somebody who is already in the business. If you think owners of nearby shredded paper businesses will give you advice, think again. The last thing they want to do is help you to be a better competitor.
But, a person who owns a shredded paper business outside of your community will be much more likely to talk with you, after they realize you reside far away from them and won't be stealing their local customers. In that case, the business owner may be more than happy to discuss the industry with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
The key question new becomes: how to find a shredded paper business owner in another city who you can speak with?
It's not that hard. Just use the handy link below and enter in a random city/state or zipcode.
Advantages of a Shredded Paper Business Purchase
On a percentage basis, more entrepreneurs intend to enter shredded paper business ownership through a startup than through a business purchase. But the harsh reality is that startup shredded paper businesses experience a high failure rate compared to entrepreneurs who buy existing shredded paper businesses.
So it makes sense that the idea of buying vs. starting a business should be carefully evaluated before you commit to an ownership strategy. By buying a profitable shredded paper business, you'll shorten the amount of time it takes to achieve a return on your investment because you'll have the advantage of a proven operation and an existing customer base.
Don't Rule Out Franchising
The chances of growing your business greatly improve if you opt for franchising and leverage their successful brand and track record.
Before you get too far along in your plan to open a shredded paper business, it's worthwhile to assess whether franchising might help you on your entrepreneurial journey.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding getting started as an entrepreneur may be of interest to you.
If you currently own a shredded paper business, these resources will come in handy:
If you sell to shredded paper businesses, we've got better information for you elsewhere on our site. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.