Experienced franchisees Varniraj Patel and Mukesh Nayi have signed a five-unit deal to expand the PayMore brand into Knoxville Tennessee
NEW YORK (June 5, 2024) – PayMore Stores, the nation’s fastest-growing electronics franchise, proudly announces a five-unit deal in Knoxville with seasoned gas station and hotel franchisees Varniraj Patel and Mukesh Nayi.
Patel and Nayi are not only current multi-unit operators but also manage multiple brands, including Shell, Marathon, Hilton, and Wyndham. Having lived in the Knoxville area for 30 years and owned various businesses, they sought a new brand to diversify their portfolio. They were impressed by PayMore’s straightforward business model compared to the demanding 24/7 operations of hotels and gas stations. With PayMore, they look forward to an improved quality of life.
“We’ve lived in Knoxville for 30 years and have built many different businesses in this area, and there is nothing like PayMore here. When finding out about this genius franchise model, we knew we had to be the first ones to bring and expand PayMore in Knoxville.” Said Nayi.
Patel and Nayi see themselves eventually expanding to 15-20 units in the Knoxville area. They have already signed a lease at a prime location in the Costco parking lot at: 113 Lovell Road Knoxville, Tennessee 37934.
PayMore operates as a hybrid business, combining an online e-commerce platform with a physical brick-and-mortar store. Their products include smartphones, gaming systems, tablets, and other tech gadgets. Through a secure and environmentally friendly approach to buying, selling, and trading electronics, PayMore has become a preferred choice for a diverse range of prospective multi-unit franchisees, such as uBreakiFix, Domino’s, Little Caesar’s, Tim Horton’s, and Firehouse Sub owners for a variety of reasons. The brand prides themselves on a combination of strong unit economics, the ability to capture customers in all stages of the buying cycle, and a sustainable business model.
PayMore, partnered with franchise development company Fransmart is growing rapidly with nearly 270 units in development, and actively seeking franchisees for other prime territories nationwide. For more information on becoming a PayMore franchisee, please visit https://fransmart.com/brands/paymore.