Gadget lovers wanted to grow successful chain
\"The training and support package is fantastic. For a growing franchise Sukhbir and I were impressed with the level of support...someone is always available to help you.\"
For those with a passion for entertainment products and a burning ambition to be their own boss and operate a successful retail business, look no further than Complete Entertainment eXchange (CeX). With 17 years of successful trading under its belt and 100 stores operating in its UK network, 46 of which are franchised, CeX is becoming a firm favourite for entertainment consumers nationwide.
By selling and buying secondhand goods from seven different product lines which include DVDs, video games, CDs, mobile phones, vision, computing and electronic products, CeX is able to weather any economic climate. CeX Marketing Manager John Cronin explains: "A downturn in the economy encourages people to seek value for money, which is great news for CeX. Our business works well when the economy is strong, but has a natural boost when times are a little more uncertain. In a downturn more people clear out their old unwanted items and bring them to CeX. A greater supply of items allows us greater margin and price flexibility. This means we can increase profit margins and/or drop prices to become even more competitive.
"The main attraction for our customers is value for money. Also at CeX there is the added peace of mind that they can inspect the goods before they buy and receive a 12-month warranty on most items they buy from us."
CeX is eager to continue its nationwide expansion and is looking for energetic, hard working individuals with retail or management experience to invest in its franchise opportunity. In return, CeX provides franchise owners with access to its tried and tested business model and a comprehensive training and support package, which includes a 12-week intensive training course and ongoing support from head office.
Existing franchise owners Arvi Salariya and Sukhbir Singh launched their Cheltenham-based franchise last year. Arvi comments: "The training and support package is fantastic. For a growing franchise Sukhbir and I were impressed with the level of support. We had on-the-job training in different stores and locations where we were taught how to run and manage a store, from how to test the goods customers want to trade in to the store opening and closing procedures and the Epos computer system. In terms of support, someone is always available to help you. Before we started trading head office sent a team to help us educate, train and mentor our new employees so that everyone knew what they were doing when we finally opened the doors."
Job satisfaction and the opportunity to build a business, working with products you love are not the only benefits of joining the CeX franchise. Franchise owner Stephen Boult is a prime example. He opened his first store in Hemel Hempstead in 2006 and is now the proud owner of a six-store enterprise, which generates a multi-million pound turnover. As a result Stephen has been able to buy his dream car: a BMW M5 and take his wife away on exotic holidays such as a scuba diving trip in Miami.
Interview by Jess Sturman
Initial Investment Requirement
From £250,000 (£60,000 capital requirement)
Franchise package includes:
- Initial training and ongoing procedure updates
- Expert advice on stock, pricing, loss prevention and marketing.
- Ongoing support including intranet and web services
- Hands-on store identification, design and outfit
- Bespoke EPOS designed especially for buying, selling and exchanging goods