RAPID REFILL HAS RECORD SETTING YEAR

[Anonymous]

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.” 

[Author]

January 3, 2007 at 12:49 PM