CeX: A retail opportunity with superb potential

CeX requires entertainment enthusiasts based in the Republic of Ireland to help turn its vision of a nationwide network into a reality

Following 17 years of successful trading in the UK market, Complete Entertainment exchange (CeX) is eager to replicate its success in the Republic of Ireland by way of a "Master Franchise." CeX is primarily looking to recruit an Area Developer, who possesses a passion for entertainment products and has the experience and ability to operate a minimum of three stores. The successful Area Developer will go on to take on the Master Franchise license, and spearhead the brand's development throughout the Republic of Ireland.

To date CeX has 100 stores operating across its UK network, 45 of which are franchised. CeX's international aspirations have led to seven additional corporate stores in the USA and three in Spain. CeX's popularity has continued to grow- even during the economic downturn, and this is because the brand buys and sells new and pre-owned goods from seven different product lines which include DVDs, video games, CDs, mobile phones, vision, computing and electronic products.

CeX Marketing Manager John Cronin explains: "A downturn in the economy encourages people to seek value for money, which is great news for CeX. Our business works well when the economy is strong, but has a natural boost when times are a little more uncertain. In a downturn more people start to clear out their old, unwanted items and bring them to CeX and this greater supply of items allows us greater margins and price flexibility. This means we can increase profit margins and/or drop prices to become even more competitive.

"The main attraction for our customers is value for money. They like to buy secondhand items because they are cheaper than buying them new. Also at CeX there is the added peace of mind that they can inspect the goods before they buy and receive a 12-month warranty on most items they buy from us."

All prospective Area Developers will have access to the CeX tried and tested business model, bespoke IT systems and a comprehensive training and support package. This includes: An intensive training course and ongoing support from head office.

Existing franchise owner Stuart Dixon is the youngest franchise owner in Northern Ireland. He launched his Londonderry-based store in December 2008. He comments: "The support on offer has been fantastic. My Franchise Manager contacts me by phone or email at least once a week to check everything is OK and then every four to six weeks he visits my store to discuss its performance and ways to drive sales. In March, we also had our annual CeX conference where all of the franchise owners got together and were able to share ideas and best practice, which was really beneficial.

"The great thing about being a CeX franchise owner is that every day is different. The stock is continually changing as customers buy, sell, and exchange items and you get to meet people of different ages from all walks of-life. I would highly recommend investing in this franchise to anyone with the financial capability who is willing to put in the time and effort to make the business a success!"

While for franchise owner Trevor Finlay, operating his Enniskillen-based store (Northern-Ireland) has enabled him to work with the products he loves. He explains: "Before I became a CeX franchise owner I worked in my family's supermarket business. I made the transition to CeX when my family sold the business due to dwindling profits as a result of big brand supermarkets monopolising the market.

"I had enjoyed working for myself and liked the retail environment, so began researching different viable business opportunities. I explored buy, sell and exchange franchises and CeX caught my eye because I have a keen interest in the franchise's main product lines: DVDs, video games, computing, electronics, mobile phones, vision and music CDs."

By Jess Sturman

With a CeX Master Franchise Package you will benefit from:

• Continual programme of research to ensure that you are kept abreast of developments in the market place. We have the products, marketing, commercial presence, competitive pricing and analysis to form a strategy to maintain the strongest position possible.
• A comprehensive and well-structured ongoing training programme.
• Regular communication & visits for analysis, advice and guidance on your business.
• Bespoke Epos till & Franchise Manuals system (support and updating as may be necessary).
• Online systems, assistance and training on Franchisee Marketing & recruitment.
• Intranet and help-line facility for advice on all aspects of the complete business method.
• Potential operating profit of £450,000 pa within 3 years.

CeX require from you:

• Multiple unit retail experience and/or substantial management experience.
• Marketing, sales & recruitment experience.
• €500,000 investment.
• Existing operational team or track record of ability to build one.