Do want to start an ink or toner cartridge refilling service business? If yes, find here a detailed business plan guide on starting a cartridge refilling unit with cost, equipment, and much more.
Cartridge refilling is about providing ink and toner cartridge refilling service to your client instead of buying a new one. It is also beneficial for the environment as it reduces e-waste in landfills. An empty ink or toner cartridge used in a printer can be reused at least three to four times generally, however, if carried out by experts it can be reused more. Cartridge refilling is a fast-growing industry, with great earning potential.
8 Steps to Start Cartridge Refilling Business
1. Choose the type of Cartridge Refilling Business Unit
An aspiring entrepreneur, living in a metropolitan city or suburban, can initiate a cartridge refilling business based at home or with a small retail space with low capital investment. As the business grows you can turn this into a retail store. You can also buy a franchisee of a reputed cartridge refilling brand.
Buying a franchise will give you technical, operational, and branding support with earnings of commission percentage while starting your own you will enjoy much more profit but you need to maintain the business of your own.
2. Skills for Cartridge Refilling Business
To start a cartridge refilling business it is important to have technical knowledge about different types of printer cartridges, toners, and ink.
Printing cartridges come in various shapes and sizes, each requires slightly different refilling techniques. You need to learn the operating procedure of injecting ink into various cartridges.
Having experience in this field is preferred, however, one can learn the techniques from experts, also you can learn from tutorials online from the internet.
As the industry is technology-related you need to be updated every time with the up-gradation of popular printers.
3. Create a Business Plan for Cartridge Refilling Business
It is important to have a detailed business plan before initiating the venture. Determine your marketing strategy and who will be your target customers. Calculate your startup budget with raw-material, staff, add expenses, and establishment costs. Project expected revenue earnings.
Create a mission statement, business objective, and operating manual before starting the cartridge refilling business. Plan for your setup to have an operational area and workspace. It is necessary to have a well-organized workplace that keeps all tools and instruments readily available. Some of the basic topics that must be addressed are the following:
- Initial and recurring costs
- Target customers
- Pricing plan
- How do you plan to sell refilled cartridges?
4. Equipment and Raw Materials for Cartridge Refilling
If you want to start a cartridge refilling service, you must learn how to inject inside cartridges. You need to have some essential equipment like a syringe, a 1/16-inch hand drill, a glue gun, small ½-inch screws, a wrench with a 12-inch handle, anti-static bags, different caps, electrical tape, and a vise.
As your business grows, consider purchasing the best quality equipment to expedite the cartridge refilling process.
The major raw materials are ink and toner (black and color). You need to have some stock of cartridge spare parts if needed for replacement at the time of refilling. Buy quality supplies from reputed vendors at a reasonable price.
5. Make tour Business Legally Compliant
The first step is to register your cartridge refilling business. Check with the local appropriate authority and select the most-suited business structure as per your scale of operation.
Furthermore, check with local government authorities and procure the required licenses and permits that are needed to run cartridge refilling activities in the locality.
6. Name Your Cartridge Company
It is essential to select a catchy and attractive name for your cartridge refilling company. A properly coined business name not only fetches new customers but also helps in enhancing brand growth.
Read: How to Name Your Business? Step-By-Step Guidelines
7. How Much Does Ink for Cartridge Refilling Cost?
The cost of ink for cartridge refilling will cost you $125 onwards for one gallon depending on the quality. With one gallon of ink, you can refill more than 400 ink cartridges. If you go to the market and buy a new ink cartridge it will cost you not less than $45 per piece.
For toner cartridges, the cost is much higher. Hence, if you calculate, the cost of a refilled cartridge is much less than a new cartridge. It is a significant value-for-money proposition for a customer.
8. Promote your Cartridge Refilling Business
Every small and big business houses, education institute, factories, are your consumer. As with any service industry cartridge refilling business also demands networking. Create some offline marketing tools like visiting cards, brochures, etc. to start talking with the clients.
Also, offer discounts for bulk orders. Give pick-up and delivery facilities. Create a business website with an online order system. Ask satisfied clients to give feedback on your site. You can also have tie-ups with computer retailers.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.