“The CeX business model is a proven success!”
INITIAL INVESTMENT REQUIRED FROM £60,000 + VAT
Summary of Operation
Retailer of second-hand electronic and digital entertainment products. CeX trade in videogames, DVDs, mobile phones, digital electronics, computing, vision products and CDs.
Before launching their Southport CeX franchise, Robert and Betty Finlay worked in a family owned retail business. Eager to utilise their management skills and fulfil their ambition of running their own business, the pair looked to the franchise sector to find an opportunity that would offer them a healthy income and dedicated support from an experienced franchisor.
Seeing the success his brother had achieved with CeX, Robert was confident that the second-hand entertainment franchise, which allows customers to buy, sell or exchange electrical products, was the opportunity he had been looking for.
“My brother owns three CeX stores, all of which are doing very well,” says Robert. “With almost 20 years of trading experience behind the company, the CeX business model is a proven success and, with most stores achieving £1 million turnover in their first year of trading, it seemed like a great investment to me.”
With over 146 stores established worldwide, 133 of which are located in the UK, CeX is quickly becoming an international success. New franchise owners receive dedicated support from a CeX Franchise Manager who is there to help with every aspect of the business set-up, from assisting with funding and finding suitable premises to the official store launch.
“The process of setting up a business can be challenging,” explains Robert. “We faced lengthy negotiations with landlords when securing our store location. However, the CeX franchise team was very supportive and their invaluable experience in working through these challenges made the process so much easier.”
The CeX franchise package also includes comprehensive training and ongoing support from its skilled franchise team, limited competition, stock and pricing advice from experts and access to its bespoke EPOS system that is designed especially for buying, selling and exchanging goods.
Before launching their store, Robert and Betty received extensive hands-on and product training.“CeX required us to complete a thorough training programme, where we worked in a local store to gain hands-on experience. We found the training to be very helpful and the ongoing support we have received since has been brilliant,” enthuses Robert.
“In addition, the local store staff who helped us launch our store was very friendly and helpful. It has been hard work but great fun!”
The couple have enjoyed the responsibility that comes with running their own business and are keen to expand their retail empire.
“I would like to open a second store as soon as my first business has become established and everyone is satisfied we have the expertise to expand,” adds Robert. “We have confidence in CeX, know how it works and want to make a success of it, not only for ourselves but for our son who is also keen to be involved in the business.”
Reported by Tiffany Brooking