Posted:13-January-2021
CeX franchisee buys new store with friend
Is this your first franchise?
Zubair: This is my first CeX Store, and my friend and joint franchisee; Javid already has a couple of CeX Stores.
Why did you choose franchising?
Zubair: I’ve always wanted to run my own retail business and I realised that I wanted to make a complete change to my working life and to create a legacy for my family. Following an existing established and successful franchise model seemed a logical route for me. With my friend Javid, already successfully running a couple of CeX stores, this seemed to be an easy decision for me!
Javid: I already run a couple of CeX stores and the opportunity to diversify and share in the success of my friend seemed to be too good an opportunity to miss. Throughout the process, CeX themselves have been very helpful in planning the whole process.
What did you do before taking up a franchise?
Zubair: I’ve run my own IT business for many years and wanted to do something different, I’ve always fancied running my own retail business.
Javid: I’ve been a CeX franchisee for several years now, before this I started my working life working for the local Area Health Authority.
How did you raise the finance?
With some of our own savings to contribute, we approached the Banks with CeX’s support, having written a detailed business plan and having compiled lots of supporting research information. We’ve been successful in securing the required finance and the whole process has been pretty straight forward.
What training and support did you receive initially and ongoing?
Zubair: CeX have carefully put together a Training Plan for me, which has taken several months to complete. I’ve been assessed throughout the process to ensure that I have the necessary skills and Management Competencies to manage a large business. I expect to manage at least ten staff and have a large business turnover.
My store build process involved support from CeX’s other local store staff, which helped me through a very busy process!
What challenges have you faced?
Lots! Becoming a CeX Franchisee is not an easy task. Whilst the rewards are considerable, there is a significant personal commitment required, particularly for Training; this requires a lot of time to be committed. Whilst I’ve had lots of support, it’s a complex process, acquiring a High Street retail business property lease. CeX have managed the whole process for me, they provide what’s known as a “Turn-Key” operation and have project managed the whole Lease negotiation and Shop-Fitting process.
Has becoming a franchisee changed your life, if so how?
Yes, I feel that I’m part of a bigger Corporate “family”, CeX have been very welcoming and have given ourselves and my staff lot’s of support and they’ve been extremely helpful helping to train my new staff team before the store opened.
What advice would you give to someone thinking of buying their first franchise?
Make sure you do plenty of research, for me it was important to consider how much ongoing support you will get. With CeX, they have ongoing local Operational Management support which will help us to run the business in line with the brand’s standards, and perhaps most importantly, they’re committed to helping me to maintain my profitability.
What are your plans for the future?
To open another CeX store when we are in the position to do so!
Would you do it again?
Yes, as soon as we’ve got this business established.
