Marketing

PayMore Electronics enjoying robust growth

Provided by PayMore.

September 8, 2023

Electronics retailer PayMore has seen double-digit deals this year and a 400% increase in units over the last nine months. The retailer expects to surpass 250 unites in development by year's end, according to a press release.

PayMore, which operates both online and brick-and-mortar locations, began as a small storefront in Long Island, New York and attributes its franchise growth to an increasing demand for affordable, high-quality gadgets.

"The fact that our early-adopter franchisees are doubling down on available territories underscores the massive opportunities that PayMore presents to entrepreneurs as a recession-resistant business model," PayMore Co-Founder and CEO Stephen Preuss said in the release. "We are attracting experienced, high-profile, multi-unit franchisees, including those from brands like Firehouse Subs, Domino's, uBreakiFix, GNC, Tim Hortons, Cold Stone Creamery, and more, who can clearly see the brand's momentum and growth trajectory. They have eagerly joined the PayMore family, drawn by the brand's innovative, technology-driven approach and in turn are sharing their collective experience to help achieve our vision."

PayMore has secured 15 major deals in 2023 with nearly140 units in development across Texas, New York, Maryland, California, New York, Washington and Florida, and most recently adding a 25-unit deal in Michigan. PayMore opened eight new stores within the past eight months, bringing its footprint to 16 locations, with nine additional stores set to open this year.