October 3, 2011
The global retail franchise’s CEO Tom Fricke has discussed best practises and vendor relationships since his promotion to the position in 2008.
In an interview with Smart Business, Fricke outlined the company’s expansion since his appointment and their relationships with franchisees.
Fricke notes that the industry is changing, and with it “the challenges we face are changing”, and adds that “the biggest pitfall” is that the company “find[s] vendors that are right today but aren’t going to be right in a year or two years from now”, because of the industry’s changing nature.
He continues by adding that the company tries to find vendors “who are going to be able to change with us”, and that to do so requires “spend[ing] a lot of time with them”, stating that he “like[s] to get
out and meet with as many” as he can. Fricke maintains that it is best to be “open and forthright” with franchisees about the industry and its challenges, because “that kind of dialogue…is critical” to survival.
The franchise aims to look for “the right kind of partner”, specifically those with technical capabilities and a business focus or franchise experience, with Fricke saying that the best way to ensure this is to “be as interactive” with franchisees as possible, whether it be him or the regional management.
Fricke has been CEO of the company since 2008, with operations spreading to over 65 countries globally and 2010 revenues of more than $160 million. Cartridge World recently discussed expansion plans in France, and earlier this year undertook recapitalisation to improve cash flow.
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