The consumer electronics industry is exploding before our eyes. Electronics & technology have become a necessity, not a want. From smartphones, tablets, console and computer gaming, to virtual reality and much more – consumers are spending big on the latest tech for their selves, homes, and businesses. Electronics are the new gold. Negotiate with your customers and build your PayMore Store to become a hub for buying, selling, and trading even in the toughest of times.
*as per Item 19 of the PayMore 2020 FDD, available on request
FOUNDED / SEGMENT
2011 / Electronics– buy, sell, and trade
Consumer Electronics, eCommerce, Pawn, Second-hand Retail
FOOTPRINT / HOURS OF OPERATION
2,000 sq. ft. (average) / varies by location, 10 AM – 7 PM
Stephen R. Preuss
PayMore was founded in 2011 in Massapequa, New York, a small close knit community on the southeastern portion of Long Island, Nassau County. We have bought and sold thousands of electronics and have become known as Long Island’s place to buy, sell and trade electronics ever since. Starting with a small storefront in Massapequa, PayMore has now become of national interest and featured in entrepreneur magazine.
In a nutshell, PayMore is an industry leader in the “Cash for Electronics” local pawn shop electronics business. Our custom franchise business model combines emerging industries with personalized support and digital software tools to ensure your small business success.
Join our dynamic community of successful entrepreneurs and collaborative small business owners by becoming a PayMore franchisee!
PayMore locks in customers by offering them store credit to ensure they are kept in the ecosystem. What’s better than having a customer sell you a device which you profit on, then turn around and buy a product from you during the same visit?
Be exposed to multiple explosive growth industries simultaneously: consumer electronics, e-commerce, pawn, second-hand retail – all the while establishing a “shop local” business involved in your community.
Positioned as the go-to place to receive cash for electronics, even in the toughest of times. In addition, PayMore retail prices cannot be beat by major big box and e-commerce companies.
PayMore POS is our backbone software. It manages customers, inventory, purchasing, reporting, ordering, customer profiles, and much more.
Consumers are turning to a “second-hand lifestyle” to not only save money but repurpose electronic devices to keep them out of our landfills.
MULTI-UNIT DEVELOPMENT FEE
Full franchise fee 1st store, 50% franchise fee each additional unit
The greater of 4% of the Gross Sales or $1,000 per calendar month
WORLDWIDE CREATIVE FUND
1% of Gross Sales
2% of Gross Sales
TOTAL INITIAL INVESTMENT (MULTI-UNIT)
$184,050 – $299,950
We are looking for dynamic, driven and tech-savvy entrepreneurs to join our team as the PayMore brand continues to expand across the country. Our ideal franchisee has the passion and resources to purchase multi-unit development opportunities – as our store numbers grow so do our franchisee’s collective buying and selling opportunities.
As a PayMore franchisee, you will deliver an important service to your community and a superior product to your customers and receive ongoing corporate support from the PayMore team and our custom engineered sales and automation tools. Whether you are launching a new PayMore store, converting your multi-carrier or electronic repair business, or re-branding a local electronics store, the PayMore franchise opportunity is a win-win for hard-working entrepreneurs.
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*
- $100K liquid capital available for investment*
- Ready to begin development within the next 3-6 months
- Ready to grow a multi-unit territory in a major U.S. area
*Investment partners may contribute to this requirement
When you join the PayMore family, you are instantly connected to a wealth of services and support 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 for each PayMore location, including access to the PayMore franchise portal. Online franchise portal tools include training documents, workflow charts, and more. In addition, each store owner is in direct contact with PayMore’s experienced operations and technical teams, who provide ongoing support.
Support provided to franchisee includes:
- Real estate / site selection
- Store build-out, construction
- Training systems
- Operational support
- Access to the PayMore Franchise Portal
- Custom Point-of-Sale system
- Marketing & brand building
- Pre-opening, grand opening support
Become a PayMore Franchisee in 30-Days
Submit an Inquiry Form
Speak with Franchise Development Director
(within 24 hours)
Submit the Franchise Application
Review Application with Franchise Development Director
Receive & review Franchise Disclosure Document with Franchise Development Director
Schedule Discovery Day with Franchisor
Execute letter of intent
Become a Franchisee!