INVESTMENT REQUIRED £200,000-£250,000 + VAT
Summary of Operation
Retailer of second-hand electronic and digital entertainment products. We trade in video games, DVDs, mobile phones, digital electronics, computing, vision products and music CDs.
Keen to utilise his years of management and retail experience, Temorr Shah looked to the franchise industry to find an opportunity that would provide him with an established business model and dedicated ongoing support.
“I wanted to join a franchise business because it comes with fewer risks than operating as a sole trader,” explains Temorr. “Once I discovered CeX, I knew that it was the business for me. So, with some help from my dad and a loan from the bank, I was able to buy my Maidenhead franchise.”
Established in 1992, CeX is a revolutionary recycling retailer specialising in the buying, selling, exchanging and donating of a range of products including mobile phones, video games, DVDs, computers, electronic gadgets and CDs.
To prepare for the launch of his store, Temorr attended a comprehensive training programme, which covered all aspects of the management franchise.
“The hands-on training I received was brilliant,” enthuses Temorr. “I spent 300 hours working in both corporate and franchise stores, where I learned about the daily running of the business and the extensive product range that CeX has to offer.
“Once I had finished my training and was preparing for my store to be ready to open, I continued to develop my product and operations knowledge by working at the CeX Uxbridge store for a few months. Also, after I opened my store, my staff and I received further training from the CeX franchise team.”CeX franchise owners benefit from an established and proven business model including initial training and ongoing updates, limited competition, stock and pricing advice from experts, ongoing support including intranet, hands-on set up, site identification, design and outfit, and a bespoke EPOS system especially designed for buying, selling and exchanging goods.
“Before buying my CeX franchise I had a totally different business,” explains Temorr. “Managing a large number of staff and dealing with more customers has been a big change for me, but I have welcomed the challenge as my CeX training prepared me well.”
Temorr has not looked back since launching his CeX store and would recommend the retail franchise to anyone looking for a rewarding management opportunity, but advises that you should make sure it’s the business for you before committing.
“Try before you buy,” says Temorr. “If you are not saying to yourself: ‘this is the perfect job for me’, then do not apply.”
With only a few months of trading behind him, Temorr is delighted with how his business has developed and is confident that he will go on to become a successful multi-unit franchise owner. “At the moment I am concentrating on consolidating my business and expanding my product knowledge, but once my store is firmly established I will begin looking for my second store location,” he adds.
Written by Tiffany Brooking