Cartridge World's network continues to go from strength to strength, with many of its stores showing significant growth over the past 12 months
The new year is a time when many people think about making a fresh start - perhaps fulfilling a lifelong dream of becoming their own boss. If that’s the case, Cartridge World is one of the options that can help them achieve this ambition.
A global business with 1,600 stores worldwide in 60 countries, its UK network has in excess of 200 stores, the first one of which opened more than 10 years ago.
Ready market
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Cartridge World’s network continues, through these troubled times, to go from strength to strength, with many of its stores showing significant growth over the past 12 months. Another sign of its strength is a ready market for franchise sales - both greenfield sites and resales of existing stores.
One of the company’s most recent recruits is Bapander Singh Khaneja, the franchisee at Cartridge World High Wycombe. Cartridge World’s youngest franchisee, Bapander singled out the company for a number of reasons. He explains:” I love technology and I like making things, so the re-manufacturing side of the business was perfect.
“I looked at other franchises, but felt that many of them had limited growth prospects. I felt that Cartridge World has bags of potential and research shows a 95 per cent success rate for new franchise start-ups - a much higher figure than independent businesses.”
So what does Cartridge World do? By using specifically formulated inks or toners, it supplies its own brand of high quality cartridges for all major brands of inkjet and laser printer. The company’s high quality products offer customers substantial savings on the cost of an original. And, of course, the recycling process provides an environmentally friendly alternative to throwing the cartridge away.
Bapander made his initial enquiry online and arranged to meet Cartridge World’s franchise support team. He was then invited to a franchise discovery day at its support unit. Along with other potential franchisees, Bapander met the support team and benefited from informal presentations from different heads of department.
“Cartridge World has close contacts with franchise finance experts at all the high street banks,” says Bapander"This helped me find appropriate finance and their input in selecting the best premises for my new store was invaluable.” Before opening, Bapander underwent a comprehensive training programme.
This kicked off with two weeks’ practical training, one week on business training and a week’s hands-on experience working in an accredited training store.
Ongoing support
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And support from the franchisor didn’t stop there. “Members of the technical support team came to High Wycombe and spent the first few days following opening with me,” says Bapander. “This was really useful.The new franchise business development manager was also on-site during the first two weeks to support me.
“I now have a clear plan in place for the first months of my new business. Cartridge World clearly cares about my success - it’s like having a business partner working alongside me. Marketing to other local businesses will be a key part of my business plan and Cartridge World provides all marketing materials, which again is a real plus point when it comes to visiting potential new business clients.”
While it’s early days, Bapander has no regrets.“I’m really enjoying the challenge,” he says. “Cartridge World is such a strong brand, we’ve been overwhelmed with customers. It’s so busy, the days just fly by.”
The average gross margin quoted by Cartridge World is 60 per cent, while net profit varies depending on the individual store. The initial fee starts at £29,950 (plus VAT). In addition to this is the cost of equipment stock and store refitting.
