For many businesses, the current inflationary economy with its rising costs is hurting the bottom line. But for PayMore, the country’s fastest growing used and new electronics retailer, business is booming.
Working in partnership with Fransmart, the leading franchise development company for emerging brands, PayMore is having its strongest year of growth in company history. In 2022 PayMore has announced expansion to Texas, Arizona, Wisconsin and Philadelphia. It is also adding stores in New York and North Carolina.
“Paymore’s strong unit economics, low start-up costs and recession-proof business model has made it an incredibly attractive brand for both new franchisees and seasoned multi-unit operators who are looking to diversify their portfolio with a concept producing fantastic ROI,” said Dan Rowe, CEO of Fransmart.
Founded in 2011, PayMore is the fast-growing, 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 company’s proprietary POS makes operations and compliance with local regulations easy for franchisees. A robust ecommerce site allows franchisees to sell their goods globally, opening a revenue stream that literally allows owners to make money while they sleep.
With consumers tightening their pocketbooks, buying slightly used electronic devices is becoming even more popular. For example, if a customer were to buy an iPhone 12 pro at Paymore instead of new they would save about 35% and it would include a warranty.
Despite the uncertain economy, PayMore franchisees are thriving. If you’re an entrepreneur or investor looking for a recession-proof business, contact us to learn more about owning a PayMore store.
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PayMore’s Record Year of Growth
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