August 23 2014 Latest news:
by Mark Nicholls, by Mark Nicholls
Thursday, May 19, 2011
Used electronic and digital products store set to open in Norwich
A new store is opening in Norwich city centre on Saturday which will be the hub of a chain of similar shops employing at least 60 people in the region.
CeX is a retailer of used electronic and digital products with a unique trading programme enabling customers to be paid cash for their goods or take vouchers to exchange against other products on sale in the store.
The flagship store, in St Stephens, will act as a training centre for managers and staff wanting to learn the business or who have purchased a franchise enabling them to open their own business. The city store will be run by as a company owned franchise.
CeX has been in business for 19 years but only in the last five years has the number of outlets increased through franchising. The Norwich store is the company’s 130th in the UK.
Managing Director Hugh Mann said: “We can offer the correct price for any goods as we hold a database of over half a million products and our store staff just need to tap into a computer database. Our prices are updated by a centralised team every day.
“We plan to open five stores in Norfolk and Suffolk over the next 18 months. We already have stores in Great Yarmouth and Ipswich both of these are franchised own.
“In a time of recession when other High Street shops are closing we are expanding rapidly as our business has proven to be recession proof.
“We believe that once the Norwich branch is established it will turn over around £1million a year.
“When we started expanding we aimed for 100 new stores in five years and we have exceeded that target.”
A Norwich-based company - Franchise Development Services with office in Surrey Street - has been selected as its national and international franchise development consultants.
Managing Director Roy Seaman said: “This is one of the most exciting retail franchises that we have ever been involved with and it’s extremely rewarding to see people from all ages and background investing in this franchise and within a relatively short period of time become franchise millionaires.”
The St Stephens branch has created more than 20 new jobs. A formal opening will take place on Saturday morning at 9am with a shopper from the queue to be chosen for the formal opening and ribbon cutting.