Business Idea Center:
Record Storage

Business Overview

Many companies are required by law to retain financial and legal documents and files about their business and clients for long periods of time. In some cases this can be up to ten years or more from the original date of the information or document. This fact creates a huge opportunity for the innovative entrepreneur to start and run a record storage facility, as many companies simply run out of space to store their documents and files. Ideally the business will be established in a location or warehouse that will take the following considerations into account: security, fire sprinklers, building condition, pest control, square footage, ease of accessibility, potential for expansion, central high-traffic location, and affordability. Rates for record storage vary greatly to the clients specific needs, in terms of volume of record storage and type of documents being stored. However, a well-planned and managed records storage business can post yearly profits that exceed six-figures.