Despite challenging economy, electronics retailer continues expansion
September 01, 2022 // Franchising.com // NEW YORK – PayMore continues expansion with a multi-unit deal for the Philadelphia area, with the first store planned for Springfield near Drexel University.
Working in partnership with Fransmart, PayMore has enjoyed its biggest year of growth in company history during 2022.
Franchisee Dan Lowe couldn’t resist another muti-unit deal in Philadelphia. Lowe has extensive franchise experience as a master franchise agreement with Firehouse Subs for more than 26 years. Prior to that, he was a Dominos franchisee in Orlando.
“We were seeking to get in on the ground floor of the next big thing in franchising and with PayMore we found the exact opportunity we were looking for,” said Lowe.
Founded in 2011, PayMore is a local brick-and-mortar franchise in a unique industry that combines e-commerce with electronics sales and trade-ins. From smartphones and gaming systems to computers and tech gadgets, electronics sales are one of the hottest markets with high customer retention rates, growing margins and low overhead. Each PayMore location receives dedicated support for its upscale spin on retail resale, delivering clean stores filled with high-quality merchandise.
“The Lowes are the ideal franchise partners for PayMore,” said Erik Helgesen, president of PayMore. “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.”