Ken Blum and Nick Sheehan opened the first Cartridge Depot in 2004, a retail ink store in Boca Raton, Florida, but soon realized that selling ink in a retail setting was not a profitable business model. So instead they began going directly to businesses to offer their ink and toner refilling services. After refining their business model, they sold the Boca Raton location to a franchisee and moved their company's headquarters to Owings Mills, Maryland. Cartridge Depot franchisees inspect cartridges, vacuum out old ink and toner, and refill them in order to save business owners' printing costs.