“I’ve had a really positive experience with CeX and I am happy with the work-life balance I now have”
about the brand and the model, and even more so about the people behind it. He also had previous experience running franchises and so was able to compare, very much backing the CeX franchise on the whole.
What appealed most about a CeX franchise? Technology is, without a doubt, a growing sector. Big brands are releasing new products every year, with advances not always particularly revolutionary. This has opened up a huge market for secondhand electronics and older models, which still have great specs and features for the majority of the population. CeX prides itself on the premise of trading something you don’t want for something you do want, which fi ts in particularly well with this market. I also think that the two-year warranty that CeX off ers really separates the brand and provides consumer confi dence.
What training did you receive? I trained from sales assistant to manager level in a large local store. I worked in Portsmouth with a fantastic team, who took me under their wing and showed me every aspect of the products, processes and how to run a store eff ectively.
How would you rate it? The support was excellent and I really enjoyed my time working at the store with the team there. CeX has now brought in a new online training system, enhancing the learning experience.
Is being a franchise owner how you expected it to be?
It has certainly exceeded my expectations. I’ve really enjoyed working with the franchise team and I have a brilliant and supportive franchise manager. He has helped me grow my business and backed me to open in new locations. CeX feels like a big family and everyone is supportive towards each other, and, most importantly, they know how to have fun along the way!
What support have you received? The scariest time is the build up towards opening day; however, CeX runs a turnkey operation, which makes the experience a lot less stressful, as there are no project management responsibilities during the fi t of the store. When stock arrives, they provide a full ‘build’ team from other stores, who are there to help stock and display all the items in preparation for opening. Once that is complete, a support manager is present for the fi rst three weeks to provide additional help and support with training the new team. My franchise manager is also present and always there should I require any assistance. I felt guided and supported throughout the whole process.
What aspect of it have you found most benefi cial? I would say the turnkey style of opening a store has been the most helpful aspect. My experience is in operations, recruitment and customer service, and so the most daunting idea of starting a new business was sourcing suppliers, designers and reliable contractors. With CeX, I was able to focus on what I felt my strengths were while it managed everything else. The brand has reliable and trusted contractors it works very closely with.
Are you on target to meet your business plan? My fi rst store hit its year three sales target in year one, which fi lled me with a lot of confi dence going into store two. Similarly, store two beat its year one target by nearly 20 per cent, but, more importantly, I have a great team who I really enjoy working with and it means we continue to beat our targets.
Do you feel CeX has fulfi lled its obligations? I’ve had a really positive experience with the brand and I am happy with the work-life balance that I now have. Beforehand, I sat down with my franchise manager and we set realistic targets that would result in the store meeting its fi nancial obligations. We
also stress-tested each store based on diff erent outcomes, which helped settle any reservations I had. Looking back now, I think it was a case of underpromise and overdeliver, as I have been pleasantly surprised with each store’s performance.
What do you enjoy most about your business? How has it improved your lifestyle? Working in food retail, for me, meant unsociable hours and phone calls for help or issues at any hour. I was losing passion for what I was doing, as it felt like a 24/7 job and the idea of going away could fi ll me with dread. Although I now work a lot, it is more out of a want than a need. I have a good balance and a great team that I work with in each store. I certainly wouldn’t have been able to grow the business and achieve the results without my team.
What are your future plans for the business? When I fi rst entered the franchise, I thought that three stores would be a good number, but in the back of my mind I wanted to aim for fi ve stores. I have a really strong team growing the business with me and think this is now achievable. They are also backing the expansion and are willing to take on more responsibility so that we can achieve the goal together.
Who is suited to a CeX franchise? To fi t in with CeX, the ability to get behind, follow and develop a proven model is essential and is the most eff ective way to succeed in a franchise. With any new venture, hard work and commitment is a must, but I think anyone who is keen for a challenge, willing to learn and wants to be part of a fun and exciting brand would fi t in well.
CeX
Act now to fi nd out more and secure your location:
www.webuy.com/franchising
18 |
BusinessFranchise.com | June 2018
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