Video Game Shop- Create Your Own with a Franchise!

23/02/2019 08:00 | Start a business

Video game shop franchise

Video games are enjoyed by many people all over the world - both old and young. The gaming industry has never been so unstoppable, with the constant release of new consoles, technologies and games, and the market shows no sign of slowing down.

Video Game Shop

Studies show that in 2018, the video game industry contributed almost £3 billion to the British economy, and it has generated over 47,000 jobs. In the same year, there were 2,261 active games companies in the UK, which create games that can be played on a variety of gaming technologies, including mobile, console and PC.

Research indicates that in 2017 there were approximately 32 million video game players in the UK, and the amount that they were spending on games increased by 12.4 percent from the previous year. In 2017 they spent a staggering £5 billion. This rise in consumption is a clear indicator that the gaming industry is powerful and only going one way - up. Especially with new video games and consoles being developed as we speak, it couldnt be a better time to create your own video game franchise.

Video Game Online Shop

Due to the many benefits of purchasing video games online, including easy price comparisons, convenience and the large range of products available, many of the UKs most popular games stores are active online, on top of operating through typical shop-font locations.

Still, shop-font style franchises can still be a lucrative business opportunity. Customers know that buying online can have a negative impact on the environment due to the large amounts of packaging that is associated with the process. Also spending too much time online can have damaging effects on mood - feeling lonely and becoming internet-obsessed. Of course, this is less likely to happen when using the internet in moderation. Going to a video game shop in person has the added benefit of having a friendlier, more personalised experience.

Retro Video Game Shop

Retro gaming is the playing or collecting of older console, computer and arcade video games. Most of the time, retro gaming is based on obsolete or discontinued systems. You can buy retro video games from numerous online shops, including Oxfam, Retrogames and Console Passion.

Type of Video Game

On top of being able to buy video games online or in-store, you can also buy digital games online. Purchasing digital video games is an easy and convenient way to game - you can play them on numerous different consoles, such as Xbox One and PC, and you cant lose them like you can with physical games.

In contrast, if you buy a physical game, you can return it, sell it or lend it to a friend if you want to. Also, internet speed doesnt affect whether or not you can play your game without disruption.

Video Game Shop Franchise

Before opening a video games shop there are a few things to consider. You could choose to sell the latest games and consoles, as well as taking in second-hand gaming equipment that is still in good nick. Or, your video game shop could focus more on restoration services and selling collectable items.

Opening a video game shop is easier than you think. Incorporate the business model of an up and running, successful franchise and benefit from its recognisable brand identity and business contacts. Experimax and CeX, two of the leading video game shops in the UK, are on the lookout for potential franchisees. Being in the gaming industry for many years, they are reliable, well-informed and you can count on their field-specific expertise when making any important business decisions.

The biggest video game media franchises, such as Grand Theft Auto, have sold at least five million copies each. Grand Theft Auto has made 280 million sales, followed by Pokmon, with 311 million sales and Mario, with 588 million sales.

If starting a video game shop franchise sounds like an exciting business venture, take a look at some of the best video game shop franchise opportunities in the UK available through Point Franchise.

Franchise Opportunities in the UK

CeX

Complete Entertainment eXchange is a video game shop franchise that focuses on second-hand entertainment technology. The customer base is mainly those who like to buy and sell well-used technology, including video games, mobile phones and DVDS. The shop also has a repair service.

It all started in 1992, when CeX was founded by Robert Dudani, Paul Farrignton, Hugh Man, Oli Smith and Oliver Ball. The founders knew that there was a gap in the technology market that hadnt been taken advantage of in the UK - used gadgets, phones and computers. Thats why CeX thought it would be a great idea develop a video game shop that retails second-hand technological devices. In 2006 it opened its first franchise and is now a member of the British Franchising Association.

Even though CeX sells old technology equipment, it is constantly updating its business strategy. The franchises constant effort to find new and exciting business ideas for development has helped them gain prestigious awards, such as them winning an award in the BFA Franchise Marketing Awards in 2016.

CeX has taken its stores overseas; the franchise has opened numerous successful stores in Poland, Italy, Spain, Mexico, Portugal, Australia, Ireland and India.

If you decide to make an investment with CeX, your business should take off in no time, especially now there are few competitors in the used entertainment technology market.

As CeX is expanding, it is on the hunt for potential franchisees so that it can keep up with an increased demand. With each new year bringing in new technological developments, and more and more gadgets being upgraded and released, franchises like CeX are in higher demand due to them selling entertainment technology products which are cheaper.

Having experience in the retail management field is desirable, although not essential. A minimum investment ranging from £150,000 to £250,000 with £40,000 in liquid capital is required.

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