Be the gadget boss with CeX
Initial Investment Required From £250,000 + VAT (£60,000 + VAT capital requirement)
Summary of Operation
Specialist buy and sell retailer of second-hand digital electronic and entertainment products with nearly 20 years of experience. CeX trade in mobile phones, games, DVDs, Blu-ray, digital electronics, computing, vision products and music CDs.
Capitalising on the fast-paced and ongoing development of entertainment technology, the CeX franchise is a dynamic retail opportunity with massive market potential.
Founded in 1992, Complete entertainment eXchange (CeX) has rapidly expanded to become one of the UK’s largest second-hand retail franchises, this year smashing its goal of opening 100 stores since the launch of its first franchised store in 2004.
The CeX business model allows customers to buy, sell and exchange a focused yet complementary range of products including mobile phones, video games, DVDs, Blu-ray, computers, digital electronics and CDs. Uniquely all goods are second-hand, tested in store and sold with a 12-month warranty.
New franchise owners receive hands-on experience in a CeX store and extensive training. Support is on-going with a dedicated Franchise Manager just a phone call away and specialists from the CeX support centre available to provide advice on areas including product testing, loss prevention, IT and marketing.
- Established in London in 1992.
- CeX expanded out of London and opened its Birmingham store in 1997.
- The CeX online buy and sell website Webuy.com was launched in 1998.
- In 1998, CeX opened stores in Watford, Hounslow, Bromley, Kingston and Leeds.
- The first franchised CeX store was opened in 2004, in Croydon.
- Today CeX has 127 stores in the UK and is constantly growing with five outlets in Spain and eight in the USA.
Stores in: Croydon, George St; Croydon Station Approach, Maidstone, Crawley, Bexleyheath and Tunbridge Wells.
Since he made the transition from CeX employee to the first CeX franchise owner six years ago, Kasim Ali’s business has gone from strength-to-strength. To date he has six stores operating under his guidance, which generate a combined annual turnover in excess of £4 million.
“I was confident CeX would bring me the success I was looking for,” says Kasim. “Because it has a strong brand name and operates using a proven business system of buying, selling and exchanging second-hand technological and entertainment goods.”
Stores in: Hemel Hempstead, Luton, Bedford, Stevenage, St Albans. He also co-owns a CeX store in Barking with Oli Blake.
Franchise owner Stephen Boult 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.
“I’d been looking to start my own business and when my wife Julie joined CeX as a Finance Director, we both thought the concept was a good one,” explains Stephen. “It was not until I went into one of their shops that I became completely hooked and decided to go for it.
“I love the gadgets and the fact that it is a very unique concept. I’m very fortunate to be in a business where I love the products we sell.”