Silver Bullet Shredding owner Bailey Jung has seen his business grow exponentially since 2005, when he drove business to business seeking used office paper to shred.
A rebound in prices for shredded office paper gave Jung the confidence to invest $200,000 in a second shredding truck, which can process up to 4,500 pounds of paper per hour. He also operates a third truck to transport waste paper from offices to a small warehouse in Burnaby where he also has a shredder.
Things had looked bleak in late 2008 when Jung told Business in Vancouver he was being forced to pay recycling companies to take his shredded paper. (See “Get ready for higher office paper disposal costs” – issue 999; December 16-22, 2009).
But the paper market experienced a whiplash-inducing turnaround by mid-2009. (See “Price paid for used office paper quadruples in past eight months” – issue 1033; August 11-17, 2009)
“The market has rebounded for paper,” Jung told BIV August 6.
He estimated his revenue, which is in the millions of dollars, has grown 40% in the past year.
Jung said, “It is probably as strong or stronger than it has ever been in the five years I’ve been in business.”