Franchise Focus 2 Fasih, Sabhi and Wajeeh Hassan, CeX Farnborough
What was your previous occupation and why did you leave? We were helping to run the family businesses which included a restaurant and a cab office in London. The reason for branching out was to become part of a larger retail business with a global branding.
Why did you decide to look into franchising?
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 that we required whilst instantaneously having a reputable brand image.
What were your criteria when picking a franchised business?
After looking at fast-food franchises we decided that it was not the industry for us and, being passionate about technology, we decided CeX was a suitable fit. The criteria were that the brand was well- known within its market and it was a franchise that had not reached saturation in terms of expansion and market share.
Where did you find out about the CeX franchise? We originally looked at a CeX franchise back in 2006 after reading about it in a franchising magazine, but lacked the funding at that time to go ahead.
What appealed most about a CeX franchise? We wanted to be part of the evolving electronics, gadget and games industry. Plus, every time I went into a CeX store, it always had a vibrant atmosphere that I wanted to be part of.
What training did you receive? The training included an initial induction with a follow up three-day store experience. From there, the requirement
was that we each completed a minimum of 300 hours, which included working right the way through from sales assistant to running a store.
How would you rate the training? The training we received really helped us to be comfortable with running a store and prepared me for the journey ahead. I was lucky enough to train in a number of different stores, and the CeX staff have provided me with all the tools necessary to succeed.
Is becoming a franchise owner how you expected it to be? Yes, 100 per cent. It is a lot of hard work but very rewarding. It is a fun place to work and has fulfilled my expectations.
What type of support have you received from CeX?
The support mechanism that CeX employ is invaluable in ensuring that our business continues to grow and be successful. Our franchise manager Alan Wilkinson has guided us right the way through to opening a store and helped us to avoid the pitfalls, guiding us towards our goal of opening multiple CeX stores. We have also received support from CeX in terms of training, recruitment and ongoing operational support.
What is your current turnover and are you on target to meet your business plan?
After conducting footfall counts and thorough research of the area, our business plan projections were £950,000, We are currently in our eighth month of trading and are on course to exceed our target.
Do you feel CeX have fulfilled their obligations? Yes, everything has been set up in accordance with their promises.
What do you enjoy most about your business and how has it improved your lifestyle?
I enjoy watching how my actions directly affect the success of the business. Having the day-to-day interaction with a wide customer base means that no two days are the same. It also brings me great joy to see my staff develop as individuals within the business. The family-like atmosphere makes the business a pleasure to work in. My lifestyle has improved as, even though I work hard, the business as given me more control over my time.
What are your plans for the future of the business? We are heading towards our first Christmas and hoping to achieve our targets for this year. Our future plan is to increase business and look to expand to a minimum of three stores.
What sort of person do you think suits a CeX franchise?
Someone who is willing to give it their all and be flexible, as well as having a passion for technology. n
CEX
WEBSITE:
webuy.com/franchising EMAIL:
uk.franchising@
webuy.com CLASSIFICATION: Retail
February 2014 |
Businessfranchise.com | 21 February 2014 |
Businessfranchise.com | 21
Investment: £20k-£50k
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