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“My business plan has always been to open as many stores as I can, as owning multiple sites gives me the opportunity to earn large profits and expand my business further.”

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.

Following the successful launch of his first CeX store based in Yeovil last April, James Tucker has invested in a second location and is on track to hit his £1million turnover target.

“My Yeovil store was an instant hit with local customers so I decided to invest in a second location while business was good,” reveals James. “My second store, which is based in Taunton, Somerset is already doing extremely well and is on track to hit its projected turnover target.

“My business plan has always been to open as many stores as I can, as owning multiple sites gives me the opportunity to earn large profits and expand my business further.”

Before becoming a multi-unit CeX franchise owner, James was already successfully running five stores with mobile phone franchise O2. Clearly no stranger to the franchise or retail industry, James was looking for a new challenge where he could utilise his electronics knowledge and management expertise.

“CeX appealed to me because it is a vibrant young brand that has a proven track record,” explains James. “When I joined CeX, the UK was going through an economic downturn and I saw this as the ideal opportunity to embrace the second-hand business as I knew it would thrive in both good and bad financial times. By using a buy and exchange format, CeX has a very broad appeal, offering everything from DVDs and games to mobile phones and other gadgets.”

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.

“I found the 12-week induction course to be very helpful,” says James. “I learned everything about the business – from how to manage the day-to-day running of my store to its product range and administration systems.

“Since launching my stores, I have found the ongoing support from CeX to be spot on. As I have run my own businesses in the past, I don’t need much help with the daily management of my stores but if I ever need any technical advice the CeX team is only ever a phone call away.”

With two successful stores already under his belt, James is keen to continue the expansion of his entertainment empire and plans to open three more stores over the next couple of years.

“CeX has a great business model to work with and I plan to get a good return on my investment,” adds James. “Not only is owning a CeX franchise profitable, it is also very enjoyable. I love being hands-on and working in my stores; I do my best to work in each store a couple of days a week and keep up-to-date with the latest gadgets.

“I know the South West of England really well and which of the area’s big towns are untapped and have great potential for more CeX stores. Hopefully it won’t be too long until my third store is secured,” concludes James.

Reported by Tiffany Brooking