Join a fast-growing franchise in the exploding consumer electronics and eCommerce industries, with an additional twist on one of the oldest most proven industries.
New location opening soon! Cary, NC – July/August 2019!
Join a fast growing recession proof franchise that is expanding nationally! We are the leader in “cash for electronics” and have become to be known as a “digital” or “electronic pawn shop”. PayMore has combined and perfected multiple industries to evolve into a proven business model. We intertwine a pawn shop like operation, with a signature ambiance, a focus on electronics, and solid eCommerce process.
We have bundled the experience and knowledge as well as the right tools and processes for you to succeed in thrive in your local market.
Our stores provide a fast, safe and easy way for consumers to sell their new, used, and broken smartphones for cash. With smartphone ownership and prices on the rise, our industry is experiencing incredible growth. Be a part of this booming smartphone and electronic revolution!
Become your community’s electronic hero by not only offering great cash deals on previously owned or broken devices, but re-purposing them into savings for local and national shoppers, all while doing your part to help keep eWaste of our landfills, and keeping your local community data safe.
In 2019, there are 2.7 billion smartphone users in the world.
(Source: Pew Research Center)
Each past smartphone user and present smartphone user have potential devices they’re looking to sell whether they are upgrading, have already upgraded, or have a damaged device collecting dust. Our locations provide a convenient, safe and fast way to earn cash for these devices while remaining data safe.
77% of American adults own a smartphone.
It is estimated that roughly three quarters of Americans are now using smartphones. This presents a very unique opportunity for our franchisees, as we not only focus on buying, selling, and trading smartphones but hundreds of other devices that are becoming a major part of our customer’s lives. Our stores handle everything from smartphones, tablets, laptops, game systems to yesterday’s favorites like iPods, retro gaming, and more.
There will be close to 1.5 billion 5G enabled smartphones in 2025.
(Source: Strategy Analytics)
The rolling out and growth of 5G technology will present a tremendous opportunity for our locations. Consumers will be seeking a means of cashing in or trading in their 4G devices in large volumes (smartphones, tablets, smart watches and more) and upgrading to the latest network speeds. Capturing a percentage of this technology revolution is our goal.
The mobile industry will contribute around 4.8 trillion to the world GDP in 2023
This is a staggering prediction, however a modest one. This prediction only holds the mobile industry, not the consumer electronics industry in a whole, or the rise of “frugal” shoppers who are saving and moving towards pre-owned products. In order to compete with online or brick and mortar retail giants, our model is paving the way for “pre-loved” devices with warranties at steep discounts off original MSRP. Our customer’s love a deal, great customer service, and our localized ecosystem works.
The mobile industry will contribute around 4.8 trillion to the world GDP in 2023
Our locations remove the stigma of purchasing pre-owned devices and completely removes the fear of buying a “lemon” device off a local trading website. Our csutomer’s love to trade in their old devices and shop for new ones. A wide variety a constantly changing unique selection of new and pre-owned devices keeps our customer’s interested and visiting. Become your communities place to not only find great deals on pre-owned devices, but to provide a way to protect your local community against electronic fraudsters by purchasing certified pre-owned.
Frequently asked questions
Joining the PayMore team gives you the great opportunity to own your own business, but not just any business, a proven business in an exploding electronics industry with a low investment, simple operations, flexible floor plans, solid support, cooperative advertising, a two week training program, ongoing learning for our owners and their staff, store development assistance, design support, lease negotiations, construction guidance and much, much more.
We have bundled the experience and knowledge as well as the right tools and processes for your to succeed in thrive in your local market.
We have built a strong brand with a proven system that combines multiple high growth industries into one — that delivers a superior product to consumers. We are looking for dynamic tech savvy entrepreneurs to become PayMore store owners to add to our growing success. As our store numbers grow so do our franchisee’s collective buying and selling opportunities.
We place a major focus on technology and process automation, our custom engineered PayMore Point of Sale system, processes, and brand name will provide you with what you need to succeed whether your are building a new PayMore store, converting your multi-carrier or repair business, or re-branding your local electronics business.
The initial franchise fee is $15,000.
Along with this franchise fee, there is a low monthly royalty fee. This fee is not based off gross sales, it is a competitively based percentage based of the electronics purchased through your location(s), which allows you to grow and scale your business quickly. Our structure promotes multi store units, high growth and allows for large scaling.
Depending on the franchise model you choose, and the geographical location you choose – your build out costs will vary from $25,000-$225,000.
We understand the need to protect our franchisee’s territories. We not only offer our franchisees a 10-25 mile radius (depending on your regional demographics) but also a competitive “right of refusal” option which will allow our first-mover franchisees the ability to continue to open units in their surrounding areas before prospective outside investment is signed.
You will receive a rigorous two week training program in our Long Island location. This training will cover all business operations, procedures, staff operations and will prepare you to fully operate your PayMore store, or multiple stores.
We also offer ongoing, or per-Diem in house manager and employee training in our Long Island location.
You will receive continued ongoing support for your location(s). You will have full access to our franchise portal which provides your initial training documents, workflows, and more. You will also have direct contact with our experienced operations team and technical team for on going support.
Because the electronics industry is always changing, you will also become a part our internal franchise knowledge base built by us, and consistently perfected by our franchisees. This live knowledge base connects our franchisees and allow them to share ideas, updates, product launches and more. Our store owners have unparalleled years of experience that you will gain access to.
Become part of family that values teamwork and shared success!
Along with this industry leading support, you will also be directly connected to a collaborative platform with our very talented franchisees sharing latest industry trends, ideas, stories, updates and successes and much more.
The backbone of our company is a custom point of sale software that has been developed over 7 years. We continue to develop our software as our company grows, and we maintain a very heavy focus on process automation and giving our franchisee’s the competitive edge they deserve.
Our state of the art software allows for quick item processing, hard copy second hand dealer records, digital records, multiple API connections (gateways), customer management, customer communications (sms,email), inventory management, easy work flows, reporting, automated marketing, contains certified/vetted global buyers and MUCH more.
Yes, we provide guidelines on site selection as well as build out assistance. Each final site is visited personally by corporate to assist in your layout planning, build-out, licensing/permits and contractor selection. We provide a streamlined approach to getting your location(s) up and running quickly.
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This information is not intended as an offer to sell, or the solicitation of an offer to buy, a PayMore franchise. It is for information purposes only. There are 15 countries and 15 U.S. states that regulate the offer and sale of franchises. The countries are Australia, Brazil, Belgium, Canada (provinces of Alberta and Ontario), China, France, Indonesia, Italy, Japan, Malaysia, Mexico, Russia, South Korea, Spain, and United States of America. The U.S. states are California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington and Wisconsin. If you are a resident of one of these states or countries, and are viewing the PayMore website in one of these state or countries, or intend to operate a franchise in any of these states or counties, we will not offer you a PayMore franchise unless and until we have complied with any applicable pre-sale registration and/or disclosure requirements in the applicable jurisdiction.
This offering is not an offering of a franchise. In New York (USA), an offering of a franchise can only be made by a prospectus that has been previously filed and registered with the Department of Law of the State of New York. The application for registration of an offering prospectus or the acceptance and filing thereof by the Department of Law as required by the New York law does not constitute approval of the offering or the sale of such franchise by the Department of Law or the attorney general of New York.
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