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Seven years on, the former bank official’s Galway-based franchise business now has annual sales of €14m, 39 stores and nine more in the pipeline.
“It turned out that shortly after I came home I had plenty of time to consider my options even if it was touch and go that I would ever get the chance to try them out,” Smyth said. “As a result of a serious car accident, I spent six months in a body cast and my wife had to look after two ‘babies’.”
During his recuperation, Smyth, who is now 38, went back to London for a break. To cheer himself up, he treated himself to a digital camera and a photo printer. He had never heard of Cartridge World, a franchise specialising in ink cartridge refills, until he happened on a store around the corner from the place he was staying.
“To be honest, I was struck more by the environmental benefits (of refills against disposables) than the financial possibilities at the beginning and I immediately went online to find out more about the company,” he said.
To his dismay, he discovered somebody had beaten him to the punch. The Australia-based franchisor had granted the master franchise for Ireland to a businessman based in Scotland, who had already licensed two Cartridge World stores in the republic.
Undeterred, in May 2003 Smyth took out a licence for a shop in Galway, but quickly felt that the franchisees, of which there were now six, could be better served locally.
“He was trying to supply us from the UK, but there was a premium for delivery and we weren’t getting good technical support because Australia was sleeping while we were awake and vice versa,” Smyth said. “I called a meeting with the rest of the franchisees and we all had similar issues.
“We gave him the chance to put things right, but it was clear he didn’t have the resources, so I bought the licence from him and took it over full-time in January 2004.”
Smyth has since opened 32 Cartridge World stores, bringing to 39 the number dotted around Ireland, and he is planning to open another nine over the next few months. Aside from the obvious savings to consumers — it typically costs about €38.50 to buy a printer cartridge compared with only €19 to refill it — Smyth says his success is based on his time spent as a franchisee. “I have been through the franchise experience and I think first and foremost as a franchisee rather than a franchisor,” he said.
Smyth insists his franchisees adopt a strong customer service ethos. Even if employees are busy, within 30 seconds they must at least acknowledge any customer who has walked in, even if they are unable to serve them immediately.
“The service in this country leaves a lot to be desired. I can’t tell you the number of times I have walked out of a shop because assistants are talking to one another or given me a monosyllabic answer to a simple query,” he said.
After leaving the Letterkenny Institute of Technology, Smyth began work for a plant-hire company in London before continuing his career with AIB.
“I have treated every business I have ever been employed with as if it were my own,” he said. “I would advise any young person to do the same and they won’t go far wrong.”
Smyth says the focus on growing a network of stores is now shifting to developing the market itself. “We believe there is potential to attract business from smaller companies because most of our customers are domestic,” he said.
This decision should allow him to cut down the time he spends travelling around the country from his base in the west of Ireland. He now has three young children and wants to spend more time with them. “I am taking medication for my back,” he said. “I know all about pain because the travel can cripple you but it is a necessity. It won’t be forever and I am happy it will all be worth it.”
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