*NEWS*RAPID REFILL HAS RECORD YEAR IN 06

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RAPID REFILL INK HAS RECORD-SETTING YEAR; EXPECTS EVEN MORE GROWTH IN ‘07
(Minneapolis, Minn.)—A growing network of successful franchisees combined with the boom in the cartridge recycling industry and eco-friendly businesses led Rapid Refill Ink to record-setting numbers in 2006.Headquartered in Minneapolis, Minn., Rapid Refill Ink, a franchised retailer specializing in the remanufacturing, refilling and sale of inkjet and laser toner cartridges to both consumers and businesses, opened 39 new locations in 2006. Since it began franchising in 2004, Rapid Refill Ink has grown to 75 locations opened throughout the United States with a total of almost 300 sold. Building on the success of 2006, Rapid Refill Ink expects to add 175 locations in 2007 and 250-300 in 2008. They also plan to franchise stores in the few remaining states that do not have a Rapid Refill Ink store, thereby being available to consumers in all 50 states.According to Steve Hockett, president of Rapid Refill Ink, “We are looking for growth oriented individuals who want to build a multi-unit operation, not buy themselves a job. The ideal candidate would open one ‘Full Service’ store and two to three ‘Retail-Only’ stores within a market over 1-2 years.”

Rapid Refill Ink will celebrate the third anniversary of its franchising program in January 2007. While the emerging cartridge refilling industry features a number of franchised competitors, Hockett said Rapid Refill Ink is well-positioned for growth.Hockett views Rapid Refill Ink as a “strong and sound” company. He said he sees no need for dramatic changes. His short-term focus is to solidify the company’s marketing, real estate and operational support departments to support his long-term goal of aggressive growth. “We want to strengthen the areas that are necessary to develop a thriving retail concept while at the same time recruiting franchisees who are focused on helping us grow the Rapid Refill Ink network,” said Hockett.Potential franchisees are attracted to Rapid Refill Ink because it has momentum and solid fundamentals in place. The market is huge and no one dominates it. The opportunity is there for two or three concepts to grow fast and become recognized brand names. “Rapid Refill Ink will be one of those. We want to be the leader in the industry,” said Hockett. Rapid Refill Ink specializes in remanufacturing and selling inkjet and laser toner cartridges at prices 30 to 50 percent below those of OEMs (Original Equipment Manufacturer). Rapid Refill Ink is the only U.S.-based retailer in the industry with storefront operations that utilize state-of-the-art technology and equipment to remanufacture cartridges. The Rapid Refill Ink store database lists 1,100 different inkjet cartridges and 200 models of laser toner cartridges.Said Hockett, “We have an opportunity to create a global brand name very quickly. The same printers we use here in the U.S. are used around the world, so this is a concept that can just explode across America and across the world. The demand is there, the need is real and we plan to build a system to deliver value driven printer ink solutions worldwide.” 

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January 3, 2007 at 12:47 PM