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A serial entrepreneur

Having been an Area Manager for a fast food franchise in the South West, Gabriel Moreno knows a good franchise model when he sees one. Gareth Samuel reports on the success of his CeX stores in Hampshire.

“CeX brings an innovative franchise model directly involved with a challenging and constantly moving products.”

Gabriel Moreno, CeX Franchisee

When Gabriel Moreno began looking for a business of his own in the franchise industry, CeX seemed the stand-out choice from the offset. “CeX brings an innovative franchise model directly involved with challenging and constantly moving products such as electronic devices, films, games, technology and entertainment in general,” he explains. “Moreover, the flexible service fee policy and the 12-month buy-back guarantee made me feel confident enough to get involved.”

These policies allow CeX investors more security because they submit their interest, safe in the knowledge that if things do not work out, CeX will buy back the business from them as part of a network-wide policy. This is a scheme that few franchises can match.

Having heard about CeX through a recommendation, he began investigating the business before registering his interest and, after time, embarking on the famously comprehensive CeX training programme. Gabriel continues: “I had over 600 hours practical in-store training experience across the different levels of the management hierarchy in a quintessential store, which made me feel ready to run my own unit and gave me a good start to be able to expand quickly. CeX has met all my expectations by keeping its promises.”

Of course, once Gabriel’s CeX location in Poole was up and running, the support continued whenever he felt he needed some advice. Now Gabriel has three CeX locations in the Southwest. His original Poole location has an expected turnover target of £1.2 million, his Boscombe store is set to turn £700,000, while his newest venture, in Fareham, has outperformed its trading targets so far. No wonder Gabriel is very pleased with his decision to invest.

“I love seeing it grow,” he adds. “It’s an added bonus that I have the opportunity to try out a host of technology products in the course of my day. Once this third CeX store (Fareham) is fully running and operating to standards I am hoping to open another one to two stores this year around the area.” This will make Gabriel the owner of five CeX locations and another CeX franchise owner who has followed the business model to multi-unit ownership. The business actively encourages its franchise owners to be as ambitious as possible, without compromising quality of operation.

Finally, Gabriel explains what qualities he believes makes a perfect CeX franchise owner: “A self-motivated and passionate individual looking for stand out the crowd and achieve success in a moving and vibrant industry.”