According to the National Association of Information Destruction (NAID), document destruction in the United States is a multi-billion dollar industry, and according to industry experts is continuing to grow at a rate of 35% per annum1. This increase is primarily due to recently enacted privacy legislation and heightened concerns about safeguarding confidential business and consumer information. Identity theft is continuing to grow at a rapid pace, with millions of incidents of identity theft and fraud reported each year.Federal and state legislation has been introduced to safeguard consumer documents and punish organizations that mishandle personal information. The PROSHRED® document destruction franchise program is an opportunity for franchisees to participate in this growing market and to help clients and customers comply with privacy regulations.
In addition to the explosive growth in the shredding business, PROSHRED® franchisees are also capitalizing on outsourcing trends, as new clients and customers are looking to reduce costs and improve productivity. PROSHRED® saves customers time and money. We can shred in a matter of minutes what would take hours to shred in a typical office shredder, and customers don’t have to worry about dust, noise or waste disposal.
Recurring revenue streams are desirable in any business or industry. In the shredding business, once a regularly scheduled client or customer is secured, the recurring revenue stream becomes significant. PROSHRED® clients and customers are extremely loyal, and as a result there is very little attrition. In addition to revenues that come from our clients and customers, PROSHRED® also earns income on the “waste paper” generated through the shredding process. Recyclers are anxious to purchase this paper, which gets made into recycled paper products. And our franchisees are proud to know that they are contributing to a cleaner, less wasteful environment!
PROSHRED® franchisees enjoy the benefits of being involved in a business-to-business undertaking in which the hours of operation are typically Monday to Friday, 8:00 a.m. to 5:00 p.m EST. Aside from working regular business hours, franchisees enjoy the benefit of a clientele made up mainly of businesses that pay their bills on time.
1 David Lane, President of Lane-Link Group Inc., as quoted in Secure Business Destruction Magazine, March/April 2005.