PayMore Stores has revolutionized the second-hand electronics industry with a concept that has an eco-friendly purpose. The brand, which has walk-in locations for customers to safely buy, sell and trade electronics, has repurposed close to 1.5 million devices since 2009, keeping the electronics from filling up landfills. By Brianna Bohn
PayMore Stores has revolutionized the second-hand electronics industry with a concept that has an eco-friendly purpose. The brand, which has walk-in locations for customers to safely buy, sell and trade electronics, has repurposed close to 1.5 million devices since 2009, keeping the electronics from filling up landfills.
This idea has not only helped the environment but also has evolved into a lucrative franchise offering. Within just two years of franchising, PayMore Stores has seen incredible growth in sales and locations.
“We currently have four locations operating, with over 10 stores in development on the East Coast and several other ongoing discussions with potential area developers nationwide and internationally,” explained PayMore Stores president Erik Helgesen, who has over 15 years of experience in the second-hand industry and has an extensive background in information technology.
To build on that growth, Helgesen, along with CEO Stephen Preuss, created the PayMore Mega Store, which is a proprietary e-commerce store that gives customers access to an inventory listing of electronic devices available at all franchise locations. This is just one of many elements of the brand from which franchisees can benefit.
“Since PayMore is first to market, franchise partners can take advantage of a new opportunity and will get in on the ground floor of an explosive used electronics market,” said Preuss, who, with 20 years of commercial real estate experience, spearheads franchise business operations and oversees the real estate expansion for PayMore Stores. “A PayMore store can be opened quickly and with no capital equipment, which keeps the initial investment low. An average store can be operated with minimal staff, requiring only three to five employees on average, which keeps your operating overhead low. As a multi-unit franchise owner, this franchise business model is scalable to operate and grow multiple locations throughout a metro market.”
New franchisees receive training at the brand’s Cary, North Carolina location and have ongoing access to extensive online videos and resources for even further support.
If you are a driven entrepreneur with experience scaling concepts into multiple locations, this investment opportunity is for you. Contact Rich Helm, franchise agent, at 727-741-0867 or RHelm@FSFranchiseAgent.com, and visit fransmart.com/paymore for further information.
– Brianna Bohn