Attention entertainment enthusiasts: CeX needs you!
Complete Entertainment eXchange (CeX) is a retail brand with great growth potential and is on the look out for enthusiastic franchise owners with a passion for gadgets and entertainment goods to continue its UK expansion
For those with a passion for entertainment products and a burning ambition to be their own boss and operate a successful retail business, look no further than Complete Entertainment eXchange (CeX). With 18 years of successful trading under its belt and 100 stores operating in its UK network, 46 of which are franchised, CeX is becoming a firm favourite for entertainment consumers nationwide.
By selling and buying second hand goods from seven different product lines which include DVDs, video games, CDs, mobile phones, vision, computing and electronic products, CeX is able to weather any economic climate. CeX Marketing Manager John Cronin explains: "A downturn in the economy encourages people to seek value for money, which is great news for CeX. Our business works well when the economy is strong, but has a natural boost when times are a little more uncertain. In a downturn more people start to clear out their old, wanted items and bring them to CeX and this greater supply of items allows us greater margins and price flexibility. This means we can increase profit margins and/or drop prices to become even more competitive.
"The main attractions for our customers are value for money and customer experience. They like to buy second-hand items because they are cheaper than buying them new. Also at CeX there is the added peace of mind that they can inspect the goods before they buy and receive a 12-month warranty on items they buy from us. At CeX we trade in a focused yet complementary range of digital electronics and entertainment products. The customer experience is an exciting Aladdin's cave of gadgets and games, not that of a typical second hand shop with rowing machines next to dolls and crockery."
CeX is eager to continue its nationwide expansion and is looking for energetic, hard working individuals with retail or management experience to invest in its franchise opportunity. In return, CeX provides franchise owners with access to its tried and tested business model and a comprehensive training and support package, which includes: a 12-week intensive training course and ongoing support from head office.
Existing franchise owners Arvi Salariya and Sukhbir Singh launched their Cheltenham-based franchise last year. Arvi comments: "The training and support package is fantastic. For a growing franchise Sukhbir and I were impressed with the level of support. We had on-the-job training in different stores and locations where we were taught how to run and manage a store, from how to test the goods customers want to trade in to the store opening and closing procedures and the Epos computer system.
"In terms of support, someone is always available to help you. Before we started trading head office sent a team to help us educate, train and mentor our new employees so that everyone knew what they were doing when we finally opened the doors."
Job satisfaction and the opportunity to build a business, working with products you love are not the only benefits of joining the CeX franchise. Franchise owner Stephen Boult is a prime example. He opened his first store in Hemel Hempstead in 2006 and is now the proud owner of a six-store enterprise, which generates a multi-million pound turnover. As a result Stephen has been able to buy his dream car: a BMW M5 and take his wife away on exotic holidays such as a scuba diving trip in Miami.
Interview by Jess Sturman
Initial Investment Requirement
From £250,000 (£60,000 capital requirement)
Franchise package includes:
- Initial training and ongoing procedure updates.
- Expert advice on stock, pricing, loss prevention and marketing.
- Ongoing support including intranet and web services.
- Hands-on store identification, design and outfit.
- Bespoke EPOS designed especially for buying, selling and exchanging goods.