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INTERVIEW B


y trading exclusively in digital


entertainment products, 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 with the public. CeX has expanded to more than 250 outlets in the UK, over half of which are franchised – clear proof of the brand’s strong business model – and they have no plans to slow down anytime soon…


How did you get involved with franchising and with CeX?


Prior to joining CeX in 2009, I enjoyed 15 years’ experience in commercial and corporate banking, specialising in providing fi nance and mentorship to SMEs as well as assisting franchisors in growing their business models. I naturally gravitated to the franchising sector as a result of the power that franchising can bring to both small and large brands. I see CeX as a unique retail business with a reputable brand, committed to support and innovation whilst sharing the fi nancial rewards with its franchise owners. CeX is a profi table and sustainable long-term business opportunity that has all the potential to continue expanding signifi cantly in the UK and globally.


How has the model been adapted for the current retail climate? How will you keep the CeX model sustainable?


At CeX, we have always put our ‘custys’ (as they are affectionately known) fi rst, so their needs and desires are refl ected in the products, people and stores. Exchanging and trading goods on a personal level is one of the oldest forms of doing business and continues to be more and more relevant in today’s economic climate. Recycling old for new has become widely accepted in the UK and many other parts of the world, and we have enhanced our customers’ ability to buy, sell and exchange online too.


What do you think makes CeX successful in the current retail market? What makes it stand out? Put simply, we give the best possible value for second- hand goods and remain at the sharp edge of the ever- changing world of technology and entertainment. This is refl ected in our products and in our knowledgeable staff, who are deeply passionate about all that we represent and do. They help our stores stand out in the high street market.


How has your recruitment strategy changed over the past few years? Is there a focus on recruiting multi-unit franchisees? CeX ensure that prospective franchisees have a serious interest in what we do and who we are as a company. Franchisees prove this over a training period of between four and six months or more, to ensure that our culture prevails. Most of the training happens in store, as we insist on a hands- on approach to learning. We welcome fresh ideas and new energy, so have a healthy mix of new and existing franchisees that contribute to our ambitious expansion plans. Multi-unit franchise owners are certainly encouraged.


What is it about CeX that makes its franchisees so invested in the business? Aside from the attractive return on investment, franchisees have a 10-year agreement with us, which shows that we are committed to a long- term business relationship. This is underpinned by world-class systems and ongoing IT development that constantly strives to enhance operational effi ciencies and improve customer experience. The brand is a big differentiator on the high street, with competition vastly reduced by virtue of our agility in responding rapidly to supply-and-demand forces in our market. CeX have over 20 years’ experience in building trust with our customers, who become lifetime members.


What other countries are CeX currently expanding into? Which other markets hold the greatest potential for CeX franchising? CeX have a strong presence in Spain with over 40 stores, the Republic of Ireland at 15 stores and a fast-growing presence in Portugal and The Netherlands. Australia and the US are beginning to show great potential for both company-owned and franchised stores. India has been our fi rst foray into emerging markets, with our 20th store opening there recently.


I believe that CeX is a business with a truly global appeal and universally accepted, so expect to see us push into Eastern Europe, Central America and possibly even South America.


What do you see for the future of CeX franchising?


I would like to see every town and city in the UK and Ireland have a CeX store, so I see potential for another 200 stores or more in the next three-to-fi ve years. Further afi eld, franchising has allowed us to accelerate our growth by providing the resources to export our concept globally, which enables us to share our success with our franchise partners. n


Franchisor News | 21


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