“Owning a CeX franchise is more fun and profitable than my previous business”
Initial Investment Required From £250,000 + VAT (£60,000 + VAT capital requirement)
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 music CDs.
Throughout his life, John Hollins has enjoyed a number of professions ranging from serving in the Armed Forces and working in the finance sector to owning and running a hotel.
However, with a young family and lack of free time, John decided that after 14 years of running his North Yorkshire hotel he was ready to take on a new challenge.
“With declining profits in the hotel industry and limited time to spend with my family, I decided that owning a retail franchise would be a great business opportunity and would allow me to work 9-5, as opposed to the long hours running a hotel requires,” says John.
He first discovered the electronics and entertainment franchise sector when a gaming conference was held at his hotel. Intrigued, John thoroughly researched the entertainment franchises available in the UK, eager to find a business that matched his managerial skills and ambition.
It was while looking through an issue of The Franchise Magazine that John first read about CeX and instantly took an interest in the brand, sparking a desire to find out more about the second-hand entertainment franchise.
“As soon as I discovered CeX I knew I wanted to be part of it,” reveals John.
“I went to the Manchester Franchise Exhibition and spoke to Franchise Director Hugh Man. I loved the buy, sell and exchange concept and the excellent business model the brand provides its franchise owners.”
CeX offers its franchise owners the opportunity to join a recognised and proven business model, which provides comprehensive training and dedicated ongoing support.
To gain excellent product knowledge and retail management, John visited CeX stores in Leeds, Hemel Hempstead and Wakefield for some valuable hands-on experience. He then went on a week’s intensive training course in Wolverhampton, where he received all the necessary tools and training to successfully run his retail outlet.
“The procedures and EPOS system which CeX uses are invaluable tools for franchise owners. I found the training and in-store experience hugely beneficial and interesting,” adds John.
With the assistance of the CeX marketing team and Operations Manager Jonathan Davies, John launched his first CeX store in Darlington in May 2008. Such was its success, 12 months later John expanded his portfolio further by investing in a CeX franchise in Sunderland.
“As my profits exceeded all my expectations it made sense to develop my business further by opening a second store. I try and visit them every week to ensure business is running smoothly.”
Now, a year on since launching his Sunderland outlet, John has launched his third CeX franchise in Grimsby. With little competition in the local area, John is confident his new outlet will produce impressive sales and retain a strong customer base.
Having launched three profitable CeX outlets in just two years, John is impressed with how the brand has allowed him to realise his business dreams.
“Joining CeX was one of the best decisions I have ever made,” enthuses John.
“Owning and running a CeX franchise is so much easier, more fun and more profitable than my previous business – it’s a business that works for you. The CeX business model is a proven success. I plan to expand my business further and open several more stores over the next few years.”
Reported by Tiffany Brooking