A few good men
CeX franchise owners, Stuart Dixon and Trevor Finlay had been friends for a while before they both made the decision to invest in the gadget franchise in Northern Ireland. Now, the duo have established their second store and are looking to further grow their portfolio.
Combining their mutually compatible skillsets seemed like a no-brainer for Stuart and Trevor, who come from very different professional backgrounds. Stuart used to work as a Store Manager in a CeX location, so had expert insight into the operational workings of a CeX business. Trevor, on the other hand, brought his real-world business experience with retail companies to the table. They both decided the CeX business model was one worth pursuing.
Stuart explains: “Being able to become a franchise owner within the business I have grown up in, has been a great opportunity for me. I had always wanted to work for myself.”
Raising the capital for any new business can be a serious obstacle. Stuart and Trevor were able to raise the money through bank finance. The brand power and proven business model that comes with CeX helped enormously in agreeing a funding deal with their bank. Trevor adds: “CeX has helped by ensuring the banks have a solid understanding of the way the brand works.”
Since obtaining the necessary funding, Trevor and Stuart have taken their business to unprecedented highs. They now have two stores in Northern Ireland and are constantly on the look out for further opportunities.
Stuart says: “Despite being well established, we have on-going operational support from our local Operations Manager, which is invaluable in ensuring that our businesses continue to develop and grow. In retailing, every day brings new challenges and we could not do things as successfully on our own.”
Trevor explains: “CeX’s model continues to grow successfully and it is now growing in Ireland too, which can only help things further in the future. We love the business and we have confidence in it.” With the help of CeX, the pair have set up a successful business with multiple locations, which they are hoping to build upon. When asked about their secret to success, they believe that pertinent planning is paramount. Stuart says: “Understand what you are planning to do and talk it through with friends or respected businesspeople who can give you some impartial advice. Talk to some of the existing franchise owners and consider whether you may fit in.”
Trevor concludes: “Our plans are to open more CeX stores when we are in the position to do so. It’s given us both independence, running a business we love.”