With a decade of technology experience as a PayMore Stores employee and a solutions specialist for a telecommunication company, Nick Facchiano knew that he wanted to start his own business. By Brianna Bohn
With a decade of technology experience as a PayMore Stores employee and a solutions specialist for a telecommunication company, Nick Facchiano knew that he wanted to start his own business. Because of his previous role with the brand, Facchiano said he quickly recognized that one investment option was far superior to others.
“When I worked as an employee at PayMore Stores, I realized how busy the store was, how popular it was with customers and how quickly it was growing. By the time I wanted to own my own business, the location I had worked at had expanded to a bigger store. I figured, if that type of growth is happening that quickly, it must be a good concept,” Facchiano said.
Since opening the brand’s first franchise location two years ago in Cary, North Carolina, Facchiano has had a taste of that success. PayMore is a new and used electronics and gaming franchise. Over 12,000 customers have sold their electronic devices to him, and his team has bought over 25,000 devices, with those numbers resulting from a period of shutdown because of the pandemic. Something even more promising than those numbers? Customer retention and referrals.
“At least a third of the customers who have sold here have sold here twice,” Facchiano shared. “We are generating a lot of repeat business. They appreciate the recycling and eco-friendly aspect of the business as well as our assurance of data-wiping for security and privacy.” Facchiano’s efforts working with local businesses and influencers have generated a lot of buzz as well. He has done everything from sponsoring a gaming event where his business has been featured on popular streaming platforms like Twitch, to doing giveaways with influencers.
The brand’s key to success is simple: Follow the proven concept and provide quality service, and with the training and ongoing support that PayMore Stores provides, such a goal is attainable.
In addition to the support provided by the co-founders, Facchiano helps train new franchisees, as the employee-turned-owner has a lot of insight to share. Franchisees learn the systems, gain product knowledge, and receive overall training for daily operations. Also, a franchise portal acts as a central hub for notifications, communication and further education, with frequently updated training articles.
Rich Helm, 727-741-0867, RHelm@FSFranchiseAgent.com