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PayMore Signs Thirteen Deals in Q1 to Open Nearly 75 New Stores

May 1, 2024

Photo of paymore employee counting cash with growth sign

The Cash for Electronics Brand Signed Thirteen Deals in Quarter One to Expand in Fifteen States

PayMore Stores, The nation’s fastest-growing electronics franchise, has signed thirteen new multi-unit agreements in quarter one alone, with new operators to bring dozens of new stores to Canada, Rhode Island, Massachusetts, Connecticut, California, New Jersey, New York, Missouri, Utah, Georgia, South and North Carolina, Pennsylvania, Virginia, and Florida.

People standing at counter at a paymore store

Thirteen different franchise groups have signed multi-unit deals to develop 74 new stores across fifteen states. The groups spearheading this development and their growth plans include:

  • Richard Price signed a five-unit deal for Canada being PayMore’s first international deal. Price brings over 20 years of experience as a director of sales, selling and managing teams from SMB to enterprise in multiple successful SaaS Businesses.
  • Bringing eight units to Utah is veteran Little Caesar’s franchisee, Wes Swaney.
  • Bringing nine units to Kansas City is Paul Kushnir, who was previously the largest Sprint Dealer in the nation and franchisee of 17 uBreakiFix locations.
  • An experienced franchise group with Crumbl Cookie and Tropical Smoothie in their portfolio will be bringing five-units to Georgia, Florida, and South Carolina.
  • Two experienced entrepreneurs signed a deal to bring three units to Sacramento – the group has been in the food business for almost 20 years driven by new and innovative concepts and was looking to diversify their portfolio outside of restaurants.
  • Andrew and Nick Zolintakis will launch three units in San Francisco. Andrew, a Data Engineer at Facebook with a background in Computer Science and Information Systems Management, sees owning a franchise as a thrilling fusion of his tech expertise and his desire for tangible impact, making PayMore a perfect fit.
  • Heather Sarkela signed a seven-unit deal in Raleigh Durham, North Carolina, selling out the territory. Heather has her master’s degree in social work and has run her own practice in the past. Looking for a new business investment she landed on PayMore.
  • Bringing multiple units to New York and multiple units to New Jersey are Vikram Singh and Jeevan Thomas who have diverse finance, real estate, and corporate sales backgrounds to the tech-focused business.
  • April Hong, with a background in graphic design, signed a five-unit deal for the New England region. After raising her daughters, she’s fulfilling her entrepreneurial dream, following in her family’s footsteps. PayMore marks the beginning of her journey as her own boss.
  • A seasoned retail franchisee group initially committed to six units with the brand. Impressed by the success of their first location, they expanded their agreement to include 15 additional units. These new units will strategically develop across Connecticut, Massachusetts, and New Jersey.
  • Brian McNutt is bringing five units to California’s East Bay area. With over 15 years of experience in financial technology, including co-founding Lumin Digital, he’s poised to leverage his expertise to drive success with PayMore.
  • Chris Phillips, the current franchisee of the Malvern Pennsylvania location, has achieved remarkable success, prompting him to expand his territory by adding four additional units across Pennsylvania, solidifying his significant presence in the region.
  • Arvind Mamidi has recently signed to establish two units in the Virginia and Maryland areas, marking a strategic expansion into these regions.

In collaboration with Fransmart, a leader in franchise development for emerging brands, PayMore, the fastest growing electronics franchise, experienced substantial growth in 2023, Witnessing a 600% increase in units and currently has nearly 270 units in development. The brand is on track to exceed 500 units in development by the end of 2024.

PayMore is actively seeking franchisees for other prime territories nationwide. For more information on becoming a PayMore franchisee, please visit https://fransmart.com/brands/paymore.

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