What CeX Could Do For You
The vivid red CeX logo of Complete entertainment eXchange stores has become a regular component of Britain’s high streets. Here The Franchise Magazine reviews exactly what makes CeX such a great franchise opportunity, why investors are queuing up to become franchise owners and how in just a few years, the franchise has become a household name in retail.
CeX is undoubtedly one of the UK’s most successful franchise opportunities – since the business began trading in 1992 it has opened over 300 stores worldwide, with over 220 in the UK. Fuelling this growth are unique business practices that are simple yet extremely effective. Customers trade in mobile phones, digital electronics, video games, films and other gadgets in exchange for cash or store-credit. CeX then sells the goods in-store. In particular, the emergence and continued development of mobile phones and other forms of mobile technology is proving to be a real boost for franchise owners, this an area of the market which CeX has been heavily involved in for many years.
What really sets the business apart is the extremely comprehensive training and support services that the CeX team provide. The business’ industry-renowned 400 hour placement training is indicative of the lengths that the CeX team goes to ensure its franchise owners are well trained for success. For those that are a good fit for the CeX model, the rewards are extremely lucrative – last year The Franchise Magazine revisited one CeX franchise owner who had just taken over £1million of turnover in less than a year of trading.
Driving this continued success is a unique and frankly unrivaled consumer offering. Senior Franchising Manager, Frank Orchard tells The Franchise Magazine: “The buy, sell and exchange concept has been widely embraced by our customers as a first choice destination for entertainment products, which often require high levels of technical expertise. Recycling and re-using goods is not just a passing trend and has become a normal way of life.”
A common path for CeX franchise owners, after successfully managing one store for a period of time, is to branch out into many more locations. The franchise requires just £40,000 liquid capital with a total investment of £150,000, most of which goes towards stock and store fit. CeX actively encourages ambitious franchise owners to expand under the careful and experienced guidance of the franchisor’s Support Centre Team.
CeX has made a name for itself in UK franchising as a well-structured, professional and extremely lucrative business for investors who complement the business’ ethos perfectly. As the business’ network continues to expand both domestically and internationally, CeX is turning hard-working and ambitious investors into wealthy owners in record time – if you are suited to this franchise, it is likely a CeX opportunity could do the same for you too.