The Franchise that Practically Runs Itself.
PayMore’s groundbreaking buy, sell, trade model is reshaping the electronics industry with a unique storefront for selling used devices. Customers receive instant cash, while franchisees enjoy round-the-clock earnings through a 70% online presence. With intuitive proprietary technology, launching your franchise is streamlined for success.
Where our franchisees are coming from:
Powering Up Across the Nation
PayMore currently boasts over 30 open locations and nearly 500 units in development across the U.S. U.K., and Canada. Despite PayMore’s rapid expansion, there are still ample growth opportunities available. PayMore is seeking ambitious entrepreneurs to join in expanding across the nation, with the potential to secure entire territories and beyond!
Growth Opportunities
Available Markets with Existing & In Development Locations
Capitalize on the $1.2 Trillion Worth of Unused Tech Sitting in Homes
The Resale Revolution
PayMore has seized a massive opportunity in the consumer electronics market. By focusing on resale rather than repair, the concept taps into growing demand for affordable, high-quality gadgets. A unique business model that resulted mind-blowing franchise growth.
Numbers So Good They Will Make your Calculator Blush.
Franchise Operated, Bensonhurst, NY**
Gross Sales*
Affiliate Operated, Massapequa, NY
Gross Sales*
Franchise Operated, Reston, VA
Gross Sales*
Franchise Operated, Cary, NC**
Gross Sales*
Franchise Operated, West Allis, WI
Gross Sales*
Franchise Operated, Gastonia, NC
Gross Sales*
Franchise Operated, Round Rock, TX
Gross Sales*
Franchise Operated, North Raleigh, NC
Gross Sales*
Franchise Operated, Chelsea, NY
Gross Sales*
*The numbers illustrate the total Gross Sales generated by the franchise-operated and affiliate operated store during the Applicable Measurement Period (Jan. 2023 to Dec. 2023), as stated in Item 19 of the PayMore Disclosure Document dated April 4, 2024. “Gross Sales” Gross Sales are calculated as total sales minus sales tax and customer refunds. Some outlets have earned these amounts. Your individual results may differ. There is no assurance you will earn as much. The “First Year” badge means that 2023 was the Store’s first full calendar year of operations.
**Cary, NC and Brooklyn NY-Bensonhurt were affiliate-operated units until 2022.
Recession-Resistant
Discounted electronics provide sustainable, low-priced solutions to savvy consumers. With prices that cannot be beat by e-commerce or big-box giants, PayMore Stores serve as a local hub for electronics sales with global e-commerce reach.
Quality of Life
With a 70% online business model, franchisees can generate revenue while they sleep. Store hours are typically 10a.m. -7p.m. on weekdays, 10a.m. -4p.m. on Saturdays, and closed on Sundays.
Low Labor
PayMore needs a very minimal amount of employees per location to operate efficiently.
No Supply Chain Challenges
PayMore stores produce their own inventory and have the ability to trade and ship from store to store, meaning no waiting on supply or shipments to operate.
Proprietary Technology
PayMorePOS and PayStation are our proprietary tech solutions for seamless store management. PayMorePOS is backed by 10 years of development, while PayStation enhances customer experience and reduces theft by eliminating cash transactions. Franchisees need no tech knowledge to operate PayMore.
Green Sustainable Business
Each PayMore serves their local community as a collection point for electronic recycling keeping old electronics out of landfills while also offering the community a convenient way to reduce e-waste with electronics trade-in for cash or store credit.
Learn more in our brochure.
The PayMore Story
PayMore began with a simple idea: to revolutionize the electronics industry. Founded by tech enthusiasts and seasoned entrepreneurs they created a seamless, profitable way for people to buy, sell, and trade electronics. Their unique model combines immediate cash for used devices in-store with a 24/7 online presence. Their proprietary technology makes franchise management easy, ensuring success. PayMore is reshaping the future of electronics trading, where simplicity meets innovation.
Meet our founders, Erik Helgesen & Stephen R. Preuss
Stephen and Erik started their entrepreneurial journey in 2005 with the opening of their first second-hand business in Long Island, NY. Starting out on eBay, they quickly honed in on the high demand for used electronics. In 2011, they rebranded as PayMore, focusing exclusively on buying, selling, trading, and recycling electronics. With a knack for innovation, they developed their own software, making it easy for people to turn their gadgets into cash in a safe environment. Their hard work paid off, and PayMore soon became Long Island’s go-to spot for second-hand electronics. With their winning formula in hand and building the business to near perfection, they started franchising in 2019 and now have 35+ locations open and close to 500 units planned overall.
Read Bio +
Erik Helgesen is the President of PayMore. Erik is a technology specialist and a career entrepreneur that’s been in the buy and sell business for over 16 years. A Long Island, NY native Erik was previously a personal enrichment teacher at Hofstra University, teaching e-commerce strategy, development, ethical practices, legality, order fulfillment, growth and more.
Stephen R. Preuss is the CEO of PayMore. Stephen has a 20+ year career as an entrepreneur with a heavy focus on commercial real estate. Stephen has also been a partner with Erik since 2004 in the buy and sell industry. Stephen is a Long Island native.
PayMore Success Stories
PayMore’s innovative and straightforward business model is attracting multi-unit, multi-territory franchise operators from established brands like Firehouse Subs, Crumbl Cookies, Little Caesars, Sprint, Domino’s, Tim Horton’s, Papa John’s, uBreakiFix, and more! Why do they love it?
Outstanding unit economics and quality of life
The outstanding unit economics are a major draw, but it doesn’t stop there. PayMore offers a quality of life unmatched by other brands – lights off but revenue on, making money while they sleep. Franchisees love only needing 3-4 employees who love their jobs, no need to deal with complex kitchen equipment, and no late-night hours.
Low build-Out costs and quick setup
Franchisees highly value the low build-out costs and the quick setup time, with locations opening in just a few months. Nearly 50% of franchisees have expanded their operations after experiencing the benefits firsthand or hearing success stories from others.
Operational experience in business is a plus, but not required assuming a professional Director of Operations will be part of your team. Prospective Franchisees must meet the minimum requirements below to be considered for a PayMore franchise.
- $500k net worth*
- $250k liquid capital available for investment*
- Minimum 7 units for development (depending on territory)
- Ready to begin development within the next 3-6 months
- Ready to grow a multi-unit territory in a major U.S. or international area
*Investment partners may contribute to this requirement
When you join the PayMore Franchise Family, you are supported by services and training opportunities designed to help you succeed as a new or continuing small business owner and entrepreneur. Each store owner receives individualized and ongoing corporate franchisee support, including access to manuals, training, marketing, and even a financial model. In addition, each store owner is supported by our experienced corporate operations and technical teams who provide ongoing day-to-day operational assistance. Franchisee support includes:
- Real estate / site selection
- Store build-out, construction
- Training systems
- Operational support
- Proprietary point-of-sale system
- Marketing and branding
- Pre-opening and grand opening support
- On-going support from PayMore’s leadership team and franchisee network
Become a PayMore Franchisee by following Fransmart’s 8-step process.
- Speak with a Director of Franchise Development
- Fill out an Application
- Submit a Business Questionnaire
- Attend a Pre-Discovery Day Call
- Meet the Founders at a Discovery Day
- Submit Your LOI
- Both Parties Sign Franchise Agreement
Investment Costs
| Start-up Costs | $239,500 – $362,500 |
| Royalties | The greater of 5% of the Gross Sales or $1,000 per calendar month |
| Franchise Fee | $35,000 |
| World-wide Creative Fund | 1% of Gross Sales |
| Local Store Marketing | 2% of Gross Sales |
| Multi-Unit Development Fee | 100% of the initial franchise fee for first three stores, plus deposit of 50% of the initial franchise fee for each additional store |
| Technology Fee | 1% of Gross Sales |
Franchise Tour
Inside a PayMore store, the design is minimal and sleek, creating a modern and inviting atmosphere. The streamlined layout doesn’t require much space for franchisees to succeed—all you need is a vanilla box. With just cabinets and counters, you’re ready to go. This efficient use of space ensures customers feel comfortable and valued, offering a unique shopping experience that highlights PayMore’s commitment to quality and customer satisfaction.
Advantages for Franchisees:
- Prime destination appeal, with no need for A+ sites or complex installations like hood vents
- Flexible store size ranging from 500 to 1400 sq. feet
- Rapid, cost-effective buildouts, simplifying the setup process
We’re constantly making headlines, check out our latest news.
Your PayMore Franchising Journey Starts Here
Whether you are ready to invest or just getting started, take the next step with us. We will guide you along your franchising journey.
