£40,000 + VAT
Before Sabhi, Fasir and Wajeeh Hassan bought into their CeX location in Farnborough, the trio helped out in the family businesses, which included a restaurant and a London cab office. They all knew that they wanted to become part of a larger retail business with global branding – making CeX the obvious choice.
They explain: “A family member who runs a number of large fast food franchises in the US recommended that we should look into franchising, because it would allow us to have the support we required, while instantaneously having a reputable brand image. Having been passionate about technology, we decided CeX was a suitable fit. The brand was well known within its market and a franchise that had not reached saturation in terms of expansion and market share.”
Sabhi, Fasir and Wajeeh discovered the CeX franchise in The Franchise Magazine way back in 2006, but lacked the necessary funding at the time to proceed. However, the trio never forgot about the ‘vibrant atmosphere’ that each CeX store has and its appeal as a business opportunity worth pursuing. A few years later, they finally made their dream investment and began their training. Sabhi explains: “The training included an initial induction with a follow up three-day store experience. From there, the requirement was that I completed a minimum of 400 hours, which included working right the way through from sales assistant to running a store.”
This extensive training and preparation process is a shining example of a training and support policy that all but guarantees franchise owners will be successful. Sabhi adds: “I would say that the training I received really helped me to be comfortable with running a store and prepared me for the journey ahead.”
The brothers are on course to hit their first-year annual £950,000 target after trading for just eight months and are looking to expand the business into new territories around the country – an expansionist ideal that is actively encouraged by the CeX Support Centre. Right now, however, they are enjoying running their own business. “I enjoy watching how my actions directly affect the success of the business,” comments Sabhi. “Having the day-to-day interaction with a wide customer base means that no two days are the same. It also brings great joy to see my staff develop as individuals within the business. Thanks to my staff and the family-like atmosphere it makes the business a pleasure to be in.”
This pleasure in their work is helped in no small part by the support mechanism that CeX provides its franchise owners – Sabhi, Fasir and Wajeeh are positively glowing in their praise of what the CeX team have done for them, working carefully with their assigned Franchise Manager to look at expanding further. Finally, when asked whether investing in a CeX franchise has been everything they expected, their answer encapsulates everything a CeX franchise provides: “Yes, 100%. It is a lot of hard work but very rewarding. It is a fun place to be in and has been nothing less than what I expected.”