PayMore is a retail franchise offering buying, selling, and trading services for electronics, including smartphones, gaming consoles, and computers, providing value and convenience to customers.
KEY FRANCHISE STATS
Franchisees
?
20
+
1900%
1900%
Franchise fee
?
$35,000
Investment
?
$139,000 - $267,000
Revenue (AUV)
?
Undisclosed
$1,033,000
+
n.a.
n.a.
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Paymoreis a rapidly growing retail franchise specializing in the sale of pre-owned consumer electronics, including smartphones, tablets, laptops, and gaming devices. Founded in 2018 in Houston, Texas, Paymore has quickly established itself as a leader in the secondary electronics market.
The company is headquartered in Houston, where it operates its central offices and supports its franchise network.
The franchise began its expansion into franchising in early 2021, aiming to provide opportunities for entrepreneurs to tap into the burgeoning market of refurbished electronics.
Paymore differentiates itself from competitors by offering a unique business model that combines a customer-centric approach with a robust, proprietary system for buying and selling pre-owned devices. Their focus on high-quality refurbishing processes and a comprehensive warranty for all products sold helps to build customer trust and loyalty.
Initial investment
The initial investment required for a PayMore franchise is
$139,000 - $267,000.
That is the total cost you would need to finance if you were to start this franchise.
These costs are provided by the franchisor in the Franchise Disclosure Document.
Type of Expenditure
Amount
Initial Franchise Fee
$35,000
Technology Configuration Fee
$7,500
Delayed Opening Fee
$0 to $6,000
Leasehold Improvements & Construction Cost
$8,000 to $15,000
Licenses and Permits
$250 to $500
Rent – 3 months
$6,000 to $12,000
Security Deposits
$3,000 to $6,000
Blueprints
$0 to $2,500
Furnishings, Fixtures & Equipment
$20,000 to $50,000
Signage – Interior and Exterior
$5,000 to $8,500
Computer System/POS System
$5,000 to $7,000
Training Program, Travel, Lodging & Living Expenses While Training
$5,000 to $7,500
Insurance – 3 Months
$500 to $1,000
Professional Fees
$1,000 to $2,000
Grand Opening Advertising Campaign
$3,000 to $5,000
Opening Electronics Inventory and Supplies
$5,000 to $15,000
On-Site Location Evaluation
$0 to $1,000
Additional Funds – 3 Months
$20,000 to $60,000
PayMore Kiosk
$15,000 to $25,000
TOTAL
$139,250 to $266,500
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Type of Expenditure
Amount
Initial Franchise Fee
$35,000
Technology Configuration Fee
$7,500
Delayed Opening Fee
$0 to $6,000
Leasehold Improvements & Construction Cost
$8,000 to $15,000
Licenses and Permits
$250 to $500
Rent – 3 months
$6,000 to $12,000
Security Deposits
$3,000 to $6,000
Blueprints
$0 to $2,500
Furnishings, Fixtures & Equipment
$20,000 to $50,000
Signage – Interior and Exterior
$5,000 to $8,500
Computer System/POS System
$5,000 to $7,000
Training Program, Travel, Lodging & Living Expenses While Training
$5,000 to $7,500
Insurance – 3 Months
$500 to $1,000
Professional Fees
$1,000 to $2,000
Grand Opening Advertising Campaign
$3,000 to $5,000
Opening Electronics Inventory and Supplies
$5,000 to $15,000
On-Site Location Evaluation
$0 to $1,000
Additional Funds – 3 Months
$20,000 to $60,000
PayMore Kiosk
$15,000 to $25,000
TOTAL
$139,250 to $266,500
Franchise Disclosure Document
Below is PayMore's 2024 Franchise Disclosure Document. Upgrade to Pro or purchase the FDD to view and download the document.
Number of units
PayMore had 21 total units in 2024, of which 20 were franchised-owned and 1 company-owned.
Paymore provides comprehensive training for its franchisees to ensure they are well-prepared to operate a successful store. The training program typically includes:
Operational Training: Franchisees receive detailed instruction on the day-to-day operations of running a Paymore store, including inventory management, sales procedures, and customer service practices.
Technical Training: Given the nature of the business, franchisees are trained on the technical aspects of refurbishing and repairing electronics, including the use of Paymore’s proprietary systems and tools for device evaluation and repair.
Sales and Marketing: Training covers strategies for effective sales and marketing, including how to attract and retain customers, manage promotions, and utilize Paymore's marketing materials and campaigns.
Management Support: Franchisees are guided on how to manage their staff, handle financials, and ensure the store meets operational standards, with ongoing support from the franchisor to address any issues that arise.
Territory Protection
Paymore offers territory protection to its franchisees. Each franchisee is granted an exclusive territory, which helps to ensure that no other Paymore locations will open within the same area, allowing franchisees to maximize their market potential without direct competition from other franchisees of the same brand.
This territorial exclusivity supports franchisees in building a strong customer base and achieving long-term business success.
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