To tap the emerging market of recycled printer cartridges, Kolkata-based retail chain of refillers for printer cartridges Refeel Cartridge plans to open 80 new stores. The proposed addition will took forward the existing number of Refeel stores to 100 over the next 18 months. Further, the company also plans to roll out these stores under the franchisee model and expects a turnover of around Rs 200 million by March 2010, said a company press release.
Alkesh Agarwal, CEO, Refeel Cartridge Engineering, said, “A lot of the proposed 80 new stores will come up in smaller towns and cities. Typically, a franchisee partner needs to invest around Rs 15-20 lakh (1.5-2.0 million) for these outlets.”
The company also plans to set up an online store for its venture. “Customers will be able to order for printer cartridges online. The online venture will come into shape once the 100 stores start operation. This will further help us to penetrate the market,” added Agarwal.
Elaborating the cost effectiveness of using such cartridges, Agarwal further said, “Using refilling printer cartridges, the companies can cut their printing expenses by at least 50-60 per cent.”