Cartridge World
Formerly known as CWE (Clean Window Experts)
Bottom line
- Total investment $75K – $107K including a $50K franchise fee.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 67/100. SBA loan default rate of 0.0% across 203 loans (below the industry average).
- System contracting at -35.5% CAGR over 3 years. Investigate whether closures are franchisor-driven (consolidation) or franchisee-driven (economics).
Item 1 · who you're contracting with
The Franchisor
Yale framework · single-unit ROIC
Returns Analysis
Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.
The model · Yale framework
What would one Cartridge World unit return on the cash you put in?
Unlevered ROIC · per unit
38%
In Yale's "attractive" band (30–60%)
Overview
About
Cartridge World franchisees operate retail storefronts selling refurbished printer cartridges, toner, and ink supplies to small businesses and consumers. Daily operations involve managing inventory, processing cartridge refills, handling customer sales, and managing local marketing. The business model depends on recurring revenue from refill customers in an increasingly digital/paperless market.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 35 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator — not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.
Government records
SBA Loan Data
Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Cartridge World presents extreme risk: a contracting franchise system (down 20.7% YoY to 109 units) with no financial transparency, unprotected territory, and potential franchisor financial instability, making investor recovery unlikely.
Score breakdown · what drove the 67 / 100 rating
- 01MINORSystem declining rapidly: 20.7% unit contraction YoY indicates shrinking franchise base and potential market saturation or model failure
- 02MINORNo financial disclosure: Absence of Item 19 (Average Financial Performance) makes ROI analysis impossible; cannot validate investment viability
- 03HIGHGoing Concern status False: Suggests potential financial instability or structural issues with the franchisor itself
- 04MINORUnprotected territory: Franchisees face cannibalization risk from company-owned or competing franchisee locations within their market
- 05MINORHigh minimum royalty burden: 8% or monthly minimum creates fixed overhead even during low-revenue periods; unsustainable during downturns
- 06MINOROnly 109 remaining units: Severely diminished system size limits brand recognition, supply chain leverage, and peer support network
- 07MED10-year commitment: Long lock-in period with no exit clause mentioned; risky given market decline trajectory
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
Item 20
Franchisee Contacts
Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.
Franchisee contacts
99 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Cartridge World · FDD (2024) PDF