I saw a great opportunity in CeX
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 Zahida Patel launched her Bury-based Complete entertainment eXchange (CeX) store, she worked in banking and finance. Tired of counting other people’s money, Zahida decided to become her own boss and went on to run a few small businesses. Having found her niche, Zahida decided she wanted to continue running her own business but without the stress associated with doing it solo.
“I previously project managed my own set ups and found the experience very difficult, but having the infrastructure and support of the CeX franchise team, as well as having the set up managed by them, made the whole experience a lot less stressful,” explains Zahida. “I saw a great opportunity in CeX, as I have family members who have franchises with them, so I decided that I wanted to give it a go.”
Established in 1992, CeX has rapidly expanded into an international success, with 140 stores worldwide, 70 of which are franchised.
With its business model focusing on the trading of second-hand entertainment products, the CeX franchise is a business that thrives in both good and bad economic climates, with most stores hitting an impressive £1 million annual turnover.To prepare Zahida for the launch of her store, she received valuable hands-on training and support from the CeX franchise team.
“I had no prior knowledge of the majority of the categories that CeX sells, but I enjoyed learning about the products and how they work. It has required me to learn and keep up to date with the latest games and gadget as there is always more to learn.”
CeX offers its new franchise owners the opportunity to join a proven business model with 19 years of industry experience.
“I spent several months in the Leeds, Dewsbury and Coventry stores and visited the head office. Since launching my store in January, I have received excellent ongoing support from my Franchise Manager and the training team,” enthuses Zahida.
The CeX franchise package starts with initial training, store location identification, store design and stock selection. Once up and running, franchise owners receive ongoing training and procedure updates together with expert advice on further stock selection, testing, marketing, loss prevention and pricing updates via CeX's bespoke EPOS system that has been specially designed over 19 years for buying and selling. A dedicated Franchise Manager and the CeX Support Centre are always just a phone call away.
With many of its franchise owners investing in multiple outlets, the CeX franchise offers excellent growth potential and flexible business development for its ambitious franchise owners. With only a couple of months of trading behind her, Zahida is already looking to expand her business portfolio.
“My plan for the moment is to build the business I have, improving the standards to the level that is necessary and then I feel I can take a step back and possibly open another store,” adds Zahida.
Reported by Tiffany Brooking