How far could CeX take you?
Every CeX franchise owner is encouraged and assisted to become a multi-site owner. The Franchise Magazine speaks to four thriving franchise owners, John Hollins with four stores, Gabriel Moreno with three stores, Jamie Playle with two and Peter van de Vyver and Alex Watson who are just starting out in their first location.
Four stores Before investing in his first CeX location, of which he now has four, John Hollins had a number of professions. Stints in the Armed Forces and as a Hotelier ensured he was well prepared for management when he decided to become a CeX franchise owner. He explains: “I saw CeX as a well-organised business that knew its market and its customers. I was fascinated at the queues of customers in stores. It was reassuring to me that they ran their franchise stores seamlessly alongside their company owned stores, and that if I followed their business model I could share in their global brand success.” John joined CeX in 2008 and he is now able to fully utilise his managerial skills across his own network of stores. “Becoming a multi-site franchisee has enabled me to manage the growth in a more strategic way,” adds John. “I now employ my own managers that work for me that I can trust to run things to CeX’s standard while I am at another store.” In order to facilitate expansion, John has received full financial advice from the CeX team throughout his tenure. He concludes: “My livelihood and that of my family is tied up in the future success and prosperity of my stores. These are exciting times for my businesses and for CeX as a brand.”
Three stores Gabriel Moreno is no stranger to franchising thanks to his background as a fast food Store Manager and always knew the importance of picking the right opportunity. “I was looking for an efficient operation with a proven track record that would motivate me and be guided by the franchisor, he says.” Having investigated CeX after an associate recommended it to him, he was particularly impressed with CeX’s dedication to corporate progression. He adds: “CeX brings an innovative franchise model directly involved with challenging and constantly moving products. Moreover, the flexible royalty policy and the 12-month buy-back guarantee made me feel confident enough to get involved.” Gabriel received 600 hours of practical in-store training across different levels of the management hierarchy before being ready to operate independently in his own location. He explains, of his three existing stores: “CeX has met all my expectations by keeping its promises. My Poole location is now reaching its second year of trading and turnover is above our expectations. Fareham is still in its early days and the projected turnover might exceed our expectations with sales to date. Once this third CeX store is fully running and operating to standards I am hoping to open another one to two stores in 2014 around the area.”
Two stores Prior to CeX, Jamie Playle was a European Equity Trader in the City working long hours. He says: “I loved it and hated it. I yearned for more control and ownership of my career.” Jamie began looking for a business with excellent profit margins and strong support from the franchisor – needless to say, CeX fitted the bill. “I have investigated franchised businesses for years and CeX is the first and only company that ticked all the boxes,” he insists. “I loved the concept. I couldn’t believe my luck when I discovered it offered franchises.” He immediately undertook the ‘store experience’, which constituted of a four-day interview process where both parties assess their mutual compatibility. After that, he completed his 400-hour in-store programme. “The training offered is ace,” he adds. “The Head of Training is very flexible. He tries his utmost to fit in with your schedule and location.” Jamie is now utterly contented in his new career and operates two stores in the South East. “It is easier than I thought it would be,” he adds. “CeX’s business model is one that allows you to macro manage the business. “During my career in the city I felt I had limited control of my destiny. Now I am completely in control – I love everything about it.”
Peter Van De Vyver and Alex Watson
One store Peter van de Vyver and Alex Watson are new to the CeX system and have already registered impressive results. Peter explains: “In Southend, Alex worked quite closely with the franchise owner there and this led to an interest from both of us to share the same prosperity that CeX had afforded our boss. We learnt the business extensively, we became familiar with the customer base and the business model and got to a point where we felt we could do it ourselves.” Both Alex and Peter knew choosing the right location for their business was crucial. “We were looking for a town that would have reasonable rent as well as giving us a steady flow of customers,” Peter insists. “We are doing better than expected.” When asked what aspect of CeX they have found the most impressive, Peter concludes: “The training. It certainly makes a difference when you open up a new business having staff that know what they are doing. Other franchises may support you with the business model, the name and the building, but CeX provides you with a truly turnkey operation. It was almost as smooth as driving away from the garage forecourt.”