058 059 CeX DSAP 29/10/07 10:15 Page 2
towards success, Hugh explains that “franchisees
eight weeks working full time, learning the trade
will benefit from CeX’s knowledge and
in the CeX shops. I loved the experience - it was
“I do plan to open
experience of the marketplace such as optimal
fantastic preparation for the opening of my
buying and selling prices and product supply and
own shop.”
more shops. In a
demand curves, which are essential to business
Impressed with the strength of CeX’s internal
success and avoiding stock shortages
support structure, Stephen reveals that he could
few months time,
or surpluses.”
not ask for more: “They’re very proactive. They
In fact, CeX is so confident of its opportunity
regularly get in touch with me and visit the stores
I’m going to start
that the company is offering for a limited period a
to offer advice and make sure the business is
‘Buy Back Guarantee’ for new franchisees.
reaching its potential. I can benefit from the
looking into opening
Subject to conditions, CeX will refund stock,
knowledge of everyone involved: the IT team, the
shop build and fit costs, and take over the store
marketing team, the stock control team
my third. I want to
management and running costs should the
and of course the management team. This gives
franchise not meet the franchisee’s expectations.
you everything you need to run and nurture your
have as many stores
Founded in 1992, CeX is embarking on a
new business.”
nationwide franchise development programme
With his franchise achieving great success and
as possible.”
and is searching for energetic and enthusiastic
having an estimated turnover for this year of over
CeX Hemel Hempstead franchisee
business-minded people who want to operate in a
£1 million, Stephen aims to expand his business
dynamic, fast-paced business that’s driven by
further: “I do plan to open more shops. In a few
Stephen Boult
consumer demand. One such person is franchisee
months time if everything goes according to plan
Stephen Boult who, having only opened his first
with my second store I’m going to start looking
store in October 2006, has already launched his
into opening my third. I want to have as many
second.
stores as possible.”
“When I decided I was ready to open my
Reveals Hugh: “Through franchising we aim
second store I had an indication of where I would
to achieve national coverage, making our goods
like to locate it, so I sat down with Hugh and we
and services widely available. By working
came up with four or five possible locations,”
closely with our franchisees, within the next three
says Stephen. “I went out looking at the locations
years we aim to establish a network of over 100
with Hugh, who has been with CeX almost since
company-owned and franchised stores
the company was founded and has a lot of
nationwide. This is a business that works when
experience with this. We got a feel for the towns
the economy is booming and even better when it
and looked at shops and the area. Although Hugh
is less buoyant.”
was on hand to help, the choice was mine at the
end of the day and I choose to open it in Luton
FURTHER INFORMATION:
because, being 30 minutes from my first store, I
can easily get back and forth as well as having a
Visit: www.cex.co.uk/franchising
market for what I sell.”
or email: franchising@cex.co.uk
Before this success however, CeX gave
or Call Hugh Man on: 07771 758 723
Stephen a period of training. “It was great - I had
Head office: CeX, 1st Floor, 140 High Street, Watford, WD17 2EN
three initial days working in a busy shop when I
first showed interest just so I could see if it was
for me,” he reveals. “Before I opened I spent See this feature online at www.thefm.net/73889
©2007 The Franchise Magazine 59
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