Electronics reseller PayMore, which opened its 150th store this month, has 300 more locations in the pipeline.
){kind=icon}
The Long Island, New York-based retailer has nearly tripled its footprint over the past two years, growing from 58 North American locations at the end of 2024 to 150 as of Nov. 2, with the addition of a Baton Rouge, Louisiana, location. It expects to open around 15 more locations this year, PayMore announced Tuesday.
PayMore said it sold an additional 300 franchise locations but didn’t say how many, if any, have found real estate.
The company was founded in 2011 and began franchising in 2020. It buys devices including smartphones, laptops, tablets, gaming systems, computer components, smartwatches and cameras, and evaluates the products for resale or recycling. The products it resells “undergo testing and appropriate data-handling procedures,” it said.
PayMore said its third-quarter same-store sales grew by 47% year-over-year.
“Reaching 150 stores is an important milestone, but the bigger story is what we're seeing inside those stores,” PayMore co-founder and CEO Stephen Preuss Sr. said in a news release. “Our existing locations are growing alongside the network, which tells us consumers are increasingly looking for smarter ways to unlock the value in their technology and buy quality pre-owned electronics in an elevated retail experience.”
)
)
)
)
)
)
)
)
)
)
)
)