Delighted duo destined for CeXess
Peter Hughes and Carl Brown, from Birmingham, certainly fit the bill for having a passion for the nationwide electronics store, having worked for the company for a number of years. However, Peter and Carl explained why they have more than just passion for this particular business.
“We both worked in the store for a number of years, in management positions, so we know the business and understand its potential extremely well. We saw others succeed with a CeX franchise and thought we want a bit of that.”
So what was it about CeX that made the duo want to leave their management positions and become their own bosses? "Franchising was a route that enabled us to be able to share in the success of the CeX brand we love,” clarifies Peter, “while also having the opportunity to create our own business. We know that we are now in full control of our destiny and we have the tools to create our own success.”
Even though the pair had both been part of the group for many years, they were still grateful for all the training and support they received during the initial stages of the start-up. Carl said: “Despite having lots of experience working in and managing company owned stores, we’ve still needed and really appreciated the additional help that has been provided to get all the complex aspects of setting up the store right. Our staff recruitment process involved us running an open day to hire a full team of staff. CeX arranged for our staff to be trained, prior to our store opening.”
In addition to the initial training and support, they also helped Peter and Carl understand how the financial side of the business worked. Without this knowledge it would have been very difficult for the pair to receive backing from any bank. “Our franchise Manager helped us to understand the financial aspects of the business in great detail. They helped us draw up a Business Plan that our bank was happy to back. We used this loan together with some of our own savings. We have been able to raise enough to ensure that all costs of setting up the retail store and stock have been covered. We looked at various sites and it took time to find the right location and for everything to come together. But, with the support of CeX behind us, we know that we are equipped to deal with the challenges ahead. Our Franchise Manager and the support centre are just a call away if we need them.”
Peter and Carl are now fully set up in their very own store and experiencing a vast change in their lives. “It’s going to be quite different being our own bosses and managing our own team of staff, we’re looking forward to it.”
Like many CeX owners, the success of their first store has inspired them for more and this is certainly no different for Peter and Carl. “We hope to open a second store once our first store has settled down and we are in the right position to do so and take it from there. Ultimately, we want to run a network of our own CeX shops." The pair left some wise words of advice to anyone who is buying or thinking about owning their first franchise. “Make sure you understand the business you are interested in. If it’s a retail business, understand that at the start it will be long hours on your feet and hard work. You definitely get out what you put in.”