“I saw the huge potential in CeX”
While working for the buy, sell or exchange franchise CeX, Gareth Thompson recognised the huge potential it had to offer and decided to take the leap from employee to franchise owner.
Gareth Thompson may have only launched his Oldham-based CeX store at the end of last year but he already has big plans for his retail business.
“In the near future I hope to visit the states and while I’m there I will be looking at some sites for my second store,” reveals Gareth. “I am also looking at other towns in the UK, as I want to become a successful multi-unit franchise owner.”
With the financial assistance of his family and bank loans, Gareth was able to realise his ambition to become a CeX franchise owner.
“I worked in a CeX franchise store and could see the potential returns from the investment. I felt I could make it work for me, so talked to my family and we made the decision together.” With over 90 per cent of franchise loans being successful now is the perfect time to pursue your ideal franchise opportunity.
In the fast evolving world of electronic entertainment goods, CeX provides a valuable outlet for consumers to buy, sell and exchange in this lucrative market. Specialising in quality second-hand technology and entertainment products, customers are attracted to the stores by the opportunity to buy goods with a 12-month warranty at attractive prices and the ability to exchange their unwanted goods for cash or something they do want.
To prepare for the launch of his store, Gareth attended a comprehensive training programme, which covered all aspects of the management franchise.
“My training was done in the Huddersfield and Barnsley stores, where I worked with experienced store owners and Managers,” explains Gareth. “This experience helped me to build my knowledge of the systems and also the best practices to enable me to maximise my potential.”
CeX franchise owners benefit from an established and proven business model including initial training and ongoing updates, limited competition, stock and pricing advice from experts, ongoing support including intranet, hands-on set up, site identification, design and outfit and a bespoke EPOS system especially designed for buying, selling and exchanging goods.
The CeX support team is always on hand to assist franchise owners with any ongoing issues. “I had problems understanding certain aspects of human resource management, which took me a while to understand. I now have the experience to face these issues and get the most out of my staff while protecting myself.”
So confident is CeX in its franchise opportunity, the company is offering a ‘Buy Back Guarantee’ for new franchise owners. If the franchise does not meet the franchise owner’s expectations, then CeX will refund stock, shop build and fit costs and take over the store management and running costs. The CeX franchise opportunity is ideal for those who have a genuine passion for entertainment products, enjoy being part of a team and are willing to work hard to make their business a success.
Initial Investment Required
From £250,000 + VAT (£60,000 + capital plus the ability to raise the balance (total investment of £200,000 to £250,000 required, of which most will go towards stock and shop fitting).