Investment: £20k-£50k
Real success stories B
y trading exclusively in digital entertainment products, the Complete entertainment eXchange (CeX) catapults the buy-and-sell concept into the 21st century. Where once
similar outfi ts would have traded books and records, CeX buy, sell and exchange
mobile phones, games, computers, tablets, DVDs and electronics to and from the public. Since it fi rst opened its doors in London in 1992, CeX has expanded to over 220 stores in the UK and more than 300 stores worldwide. It launched its fi rst franchise operation in 2005 and now more than half of the UK stores are franchised –
1 Hatim Karimjee, CeX Beeston
Why did you choose franchising? I wanted to start my own business but knew that fi nding a suitable franchised business opportunity would be a good idea. Having worked in the corporate world in fast food retailing, I already had some knowledge of franchising so understood the concept. I recognised that a franchised brand could give me a head start and provide me with a proven business model to work with.
What did you do before taking up a franchise? My previous role for many years was in food retailing, where I was an operations and training manager. I was used to working in retail environments and managing teams of staff, so when I looked into CeX, I could relate to how the business was operated and managed. I felt quite at home and saw a future with CeX.
How did you raise the fi nance? CeX helped me to write a business plan, which I then put forward to my bank. Together with my own funds, I
20 |
Businessfranchise.com | February 2014
obtained the necessary fi nance to create my new store.
What training and support did you receive initially and ongoing? I went through quite a detailed initial assessment process with CeX that involved me working in-store. This gave me the opportunity to understand the business while at the same they assessed my suitability. Running a CeX store and managing a new team of staff is a major responsibility and I needed all the months of extensive training that I’ve undertaken.
What challenges have you faced? Setting up a large retail business requiring a high-street premises involves lots of organisation and planning. Luckily, CeX are very experienced at this and were on hand to help me through the process. My main task before opening has been the recruitment of a team of staff, which CeX helped train.
Has becoming a franchisee changed your life, if so how? It’s early days yet, but I love the
independence of running my own business and really appreciate the support I’ve been given by everyone involved.
What advice would you give to someone thinking of buying their fi rst franchise? Understand what you’re doing, do lots of research and think about your future plans.
What are your plans for the future? Get my new business established and hopefully plan for a second CeX store!
clear proof of the brand’s strong business model and potential for growth. A store opened almost every week in the UK last year, and as technology changes and the demand for used electronics continues to grow, this rapid expansion shows no sign of slowing down. CeX’s greatest advocates are the franchisees themselves.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96