PayMore
Retail Electronics & Appliances RetailCompany Information
Address
329 North Harrison Avenue Cary, North Carolina 27513
Website
Tel
Email
Franchise Summary
Description
PayMore is a retail franchise that specializes in buying and selling pre-owned electronics, offering a buyback program for customers to sell their used devices for cash and providing affordable refurbished electronics for purchase. The franchise supports its owners with training and marketing, while promoting sustainability through the reuse and recycling of electronics, making it an attractive option in the growing resale market.
Corporate Structure
PayMore Group LLC (referred to in this Disclosure Document as the “Franchisor”, “we,” “us”, “our”) is a North Carolina limited liability company formed on August 24, 2020. Its principal place of business is 329 North Harrison Avenue, Cary, North Carolina 27513. We do business under our corporate name and the Proprietary Marks (described below). In this Disclosure Document, we refer to the person or entity that will be signing the Franchise Agreement (defined below) as “you,” “your,” or “franchisee,” which includes all franchise owners and partners, if you are a corporation, partnership or other entity.
Earnings Transparency
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry
Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet
Financial Performance of "Standard" Units
Average Revenue Per Unit
Compared vs. Electronics & Appliances Retail Industry$1,551,001 / unit
Franchise Type: Standard
Average Revenue During 2021
Franchise Types Available
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Employee Contact Database
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PayMore Franchise System Development in 2021
FAQ
How much investment do I need to start my own PayMore business?
Franchisees typically require at least $139 to $266 investment to get their PayMore business started
What are the initial franchise fees for PayMore?
Franchisees typically need to pay at least $69 in fees directly to PayMore in order to earn the right to launch their business
How much money can I make with a PayMore franchise? What are
the average revenues for a typical PayMore business?
We estimate that the average revenue of an individual
PayMore unit is approximately
$1,551,001. We based this on Item 19 in franchise disclosure
document
How long do I need to commit to running a PayMore unit? What
is my contractual commitment?
The standard length for an initial franchise contract is 10 years. Renewals are
also generally 10 years
Accessibility
The Franchisor's investment costs ranges from
$139,250 to $266,500
which is
Much Lower
than the $0 to $0 average in the Electronics & Appliances Retail industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc
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