Buy-sell-trade electronics retailer PayMore has signed a five-unit franchise deal for the Washington D.C. metro area.
The first location will open in Reston, Virginia this fall, according to a press release, and comes on the heels of several other franchise agreements for New York, Texas, North Carolina, Pennsylvania and Wisconsin.
Husband and wife franchisees Dan and Lindsay Lowe have extensive franchise experience with a master franchise agreement with Firehouse Subs, operating 36 locations in the Washington D.C./Baltimore area for more than 26 years. Prior to that, Dan Lowe was a Domino’s franchisee in Orlando.
“We were seeking to get in on the ground floor of the next big franchise opportunity and after reviewing PayMore’s incredible unit economics and strong Item 19, we knew it was the right investment for us at this time,” Dan Lowe said in the release.
While Lowe signed a five-store deal, his intention is to develop more than 10 stores in the D.C. metro market over time.
“The Lowes are the ideal franchise partners for PayMore,” Erik Helgesen, president of PayMore, said in the release. “With their nearly three decades of franchise experience and strong business acumen, we are confident that these PayMore operations will be highly profitable and incredibly successful.”