By trading exclusively in
digital entertainment products, the Complete entertainment eXchange (CeX) has catapulted the buy-and-sell concept into the 21st century
I
n the ever-changing world of technology, the ability of a brand to adapt to the market can make all the diff erence between success and failure. There is no better example of this than CeX. The fl exible structure of the business model has seen it thrive in economic times – both good and bad – and this, together with the passion of its franchisees, has enabled the formation of a global network of outlets in a relatively short space of time.
Firash Rafi q and Khuram Akram
Why did you decide to initially look into franchising? We wanted to adopt a model that would provide a structure for success and had a proven track record. At the same time, we felt franchising allowed us to minimise risk and capitalise from day one on being in a position to optimise our profi tability.
own two CeX stores
FIRASH RAFIQ AND KHURAMAKRAM
What was your previous occupation and why did you leave? Firash: Originally I pursued a career in programming with Computershare, before spending seven years as a police offi cer. I felt the fl exibility of self-employment and the prospects as a CeX franchisee catered to my tech and customer relations passion. Khuram: I am a registered prescribing pharmacist, tutor and pharmacy owner. I have always been a keen tech buff , with an eye for new gadgets entering the market. With sound business experience and a partner with the same passion for tech, Firash and I felt this an ideal opportunity to diversify.
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BusinessFranchise.com | May 2017
What were your criteria for a franchise business? A well-established and recognised retail brand was the most important aspect to me when choosing a franchise, and CeX ticked both of those boxes.
What appealed most about a CeX franchise business? We obviously liked the brand, and the fact that CeX is a multinational company with hundreds of stores worldwide ensured we were in safe hands. CeX’s confi dence in its franchise model and buy-back agreement shows the strength in its proposal.
What training did you receive? We had a dedicated training and development manager, who coached us throughout the period leading up to store opening. We also had a franchise manager, who was always on hand to answer any questions, while assisting us towards competency completion. Beyond this we received training in a number of CeX stores. We were also in regular contact with the operations manager and were invited to the support centre in London, where we were briefed on the
roles and responsibilities of everyone who works there.
Is being a franchise owner how you expected it to be? It’s tough and demanding, but you will get out of it whatever you put in. The fi rst few months were tiring, with a lot of knowledge gaps being fi lled, but once you’re in your stride it’s defi nitely fruitful and rewarding.
Do you feel that CeX has fulfi lled its obligations as a franchisor? CeX is meticulous in its support. The whole team ensures we are not solely operating but that we are operating to our absolute optimum levels. We have never felt that we have been left to our own devices. With regular visits from the franchise, training and operations managers, continual development remains the joint focus.
What are your future plans for the CeX business? Store three is already on the timeline! As long as the demand for CeX is there, we aim to continue opening sites.
What sort of person do you think a CeX franchise would suit? You must be organised, committed, dedicated, and able to work long hours and under pressure when needed to. You must also be outgoing, sensible, fun and possess excellent people management skills, coupled with the ability to learn and develop yourself and your staff . A passion for tech also goes a long way.
CeX
Act now to fi nd out more and secure your location:
www.webuy.com/franchising
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