
PayMore
Other Businesses, Retail Products and Services
General
Industry
-Category
Other BusinessesRetail Products and ServicesSBA Identifier
S6898Year of Founding
2020Fees
Marketing Fee
1%Royalty Fee
-Franchise Fee
$30,000-$30,000Investment Range
$152K-$242KLocation units
Total U.S. Locations
4U.S. Franchised Units
1U.S. Corporate Units
3Headquarters (City)
NCOther
Item 19 - Franchise Financials
-Financing Availability
yesStarted Offering Franchises
2020Issuance of FDD Data
04/05/2021What to know about PayMore franchise?
The franchise offered is for a "PayMore" retail store that buys new and used consumer electronics from the general public and resells the electronics to various online purchasers and electronics recyclers that we recommend. PayMore stores operate using the franchisor's techniques, trade dress, trademarks and logos.
PayMore is based in Cary, NC. Scroll down to learn more!
How Much Does a PayMore Franchise Cost?
Are you wondering how much is a PayMore franchise? Before starting a PayMore franchise, it is important to know the PayMore franchise fee ($30,000) working capital and other costs required to start the business.
The minimum investment amount required to open a PayMore franchise is $152,050 and can go all the way up to $242,450. Keep in mind, you should also allocate additional funds to live off of while the PayMore business ramps up. This can take as little as 6 months to over 2 years depending on the franchise opportunity. You should speak to at least 5 PayMore franchisees to understand the true cost of opening the franchise and how long it takes to: 1) start a PayMore business 2) pass break even 3) hit significant income.
After (and if) you pass the point of earning significant income from your PayMore franchise, there may be enough margin to hire a day-to-day manager and work less hours in the business.
Franchise Net Unit Growth
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Download our guide to compare PayMore. Hotels to the Cleaning and Maintenance, Outdoor Maintenance industry.
Franchise Data
Year | Start of year | Units Opened | Units Closed | Total End of Year |
---|---|---|---|---|
2020 | 1 | 1 | 0 | 1 |
Additional Details
How much does a PayMore franchise owner make?
PayMore franchise earnings and revenue can vary significantly from one franchisee to another. The PayMore franchise owner profits can be influenced by labor costs, lease rates, hours worked as well as other factors.
PayMore discloses financials at the unit level. In other words, they show how much PayMore franchisees made in the past. Through analyzing this information available in the metrics tab, it can serve as a good basis to further explore the opportunity or not.
At Vetted Biz, we advise you to speak with 5 to 10 franchisees to understand how much money they are making from the PayMore franchise. Roughly 60% of franchises disclose financials and it makes the process easier when filtering potential franchise opportunities like PayMore. Don’t just speak to existing franchisees, call franchisees who have recently left the system and try to find out how much those PayMore owners were making.
Visit the PayMore metrics tab, to explore the financials for this business.
What is the PayMore Franchise Fee?
Owning a PayMore franchise requires a 4% royalty fee and a 1% marketing fee. These two expenses represent the main ongoing costs you can expect to pay the franchisor throughout the franchise relationship.
Keep in mind, there is also an initial PayMore franchise fee of $30,000 that is included in the initial investment amount of $152,050 to $242,450. Depending on the franchise agreement you sign, you might have to pay the full franchise fee again if you decide to extend the PayMore franchise relationship. Consult with a licensed franchise attorney to understand exactly what you receive for paying the PayMore franchise fee of $30,000.
Visit the PayMore metrics tab to explore how the franchise, royalty and marketing fees compare to other Retail Products and Services franchises. You can also compare these fees for 2,000+ franchises currently offered in the U.S.
When was PayMore founded?
PayMore was founded 2 years ago in 2020. PayMore started offering franchises in 2020. At Vetted Biz, we recommend franchises have 3-5 corporate locations and 5+ years of experience before offering a franchise. There needs to be proof that the business model works and is replicable before offering the franchise to other!
How many PayMore locations are in the U.S.?
As of Issuance of 2021, there were 1 PayMore locations owned and operated by franchisees across the U.S. There are also 3 corporate locations owned and operated by PayMore. Most Retail Products and Services franchises like PayMore have more franchised locations than corporate locations.
How many PayMore franchises opened over the past few years?
Over the prior 3 years we have data for, PayMore has opened 2 outlets throughout the U.S.
Visit the PayMore metrics tab to explore how the openings compare to other Retail Products and Services franchises.
How many PayMore franchises closed over the past few years?
Over the prior 3 years we have data for, PayMore has closed 0 outlets throughout the U.S.
Visit the PayMore metrics tab to explore how the closures compare to other Retail Products and Servicesfranchises.
Is PayMore growing? Are they opening more locations than they are closing?
The net unit growth rate for PayMore over the past 3 years is N/A. Over the last year we have data for, PayMore had a net unit growth rate of 0%.
Without a comparison, this number doesn’t mean much. Compare how the PayMore growth rate compares to 2,000+ other franchises and Retail Products and Services franchises like PayMore. More info in the PayMore metrics tab.
Is PayMore franchise eligible for an SBA Loan?
PayMore is eligible for SBA loans including the 7(a) loan. To find out more about the SBA loan program for franchising click here.
PayMore franchise was assigned the SBA Franchise ID of S6898 on 7/10/2021. This DOES NOT mean the SBA endorses this franchise. The SBA Franchise Directory will only include business models like PayMore that are reviewed and found eligible under SBA's affiliation rules and other eligibility criteria.
Is PayMore a franchise in the United States?
According to the SBA, PayMore meets the Federal Trade Commission (FTC) definition of a franchise. The FTC Franchise Rule requires franchisors to provide all potential franchisees with a disclosure document (FDD) containing 23 items about the franchise, its officers, and other franchisees. Be sure that PayMore provides you with an FDD if you are in discussion to buy a PayMore.
What is the PayMore Franchise for Sale Rate?
The PayMore systemwide health and franchisee satisfaction can be measured by the PayMore franchise for sale rate. The franchise for sale rate is calculated by the percentage of units transferred to new franchisees and reacquired by franchisor.
The franchise for sale rate for PayMore over the past 3 years is 25%. Over the last year we have data for, PayMore had a franchise for sale rate of 100%.
Without a comparison, this number doesn’t mean much. Compare how the PayMore franchise for sale rate compares to 2,000+ other franchises and Retail Products and Services franchises like PayMore. More info in the PayMore metrics tab.
What is the PayMore Franchise Failure Rate?
PayMore franchise failures comprise franchise terminations, franchise non-renewals, and franchises that ceased operations for other reasons. The failure rate is one of the most important franchise metrics to consider when investing in a franchise!PayMore failure rate over the past 3 years is 0%. Over the last year we have data for, PayMore had a franchise failure rate of 0%
Without a comparison, this number doesn’t mean much. Compare how the PayMore failure rate compares to 2,000+ other franchises and Retail Products and Services franchises like PayMore. More info in the PayMore metrics tab.
How can I find out more details on PayMore franchise?
Visit the PayMore metrics tab to explore franchise profitability, industry comparables and more. Become a Vetted Member today for exclusive access on this franchise opportunity!
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General
Industry
-Category
Other BusinessesRetail Products and ServicesSBA Identifier
S6898Year of Founding
2020Fees
Marketing Fee
1%Royalty Fee
-Franchise Fee
$30,000-$30,000Investment Range
$152K-$242KLocation units
Total U.S. Locations
4U.S. Franchised Units
1U.S. Corporate Units
3Headquarters (City)
NCOther
Item 19 - Franchise Financials
-Financing Availability
yesStarted Offering Franchises
2020Issuance of FDD Data
04/05/2021Franchise Fee Midpoint
The percentage change of total franchise units from one year to the next
1 year
3 years
PayMore
-
-
Industry median
All franchises median
Unlock premium content
Franchise Disclosure Document
Net Unit Growth (most recent year)
Net Unit Growth (3 years)
Failure Rate
Franchise failures comprise franchise terminations, franchise non-renewals, and franchises that ceased operations for other reasons.
1 year
3 years
PayMore
-
-
Industry median
All franchises median
Unlock premium content
Franchise for Sale Rate
The percentage of units transferred to new franchisees and reacquired by franchisor.
1 year
3 years
PayMore
-
-
Industry median
All franchises median
Unlock premium content
Food and Beverage, PizzaJim’s Pizza |
Investment range
-
Founding year
-
Total U.S. Units
0
|
Learn More
|
Food and Beverage, PizzaJimano’s Pizzeria |
Investment range
-
Founding year
-
Total U.S. Units
0
|
Learn More
|
Fast Casual Restaurant, F...Jimboys Tacos |
Investment range
-
Founding year
-
Total U.S. Units
0
|
Learn More
|
Fast Casual Restaurant, F...Jaliscos |
Investment range
-
Founding year
-
Total U.S. Units
0
|
Learn More
|
Investment Midpoint
The average of the low and high range of the investment amounts calculated from the most recently available Franchise Disclosure Document
PayMore
$197,250
Industry median
All franchises median
Unlock premium content
Royalty Fee
The median royalty fee from the Franchise Disclosure Document
PayMore
-
Industry median
All franchises median
Unlock premium content
Franchise Fee Midpoint
The percentage change of total franchise units from one year to the next
1 year
3 years
PayMore
-
-
Industry median
All franchises median
Unlock premium content
Item 19 – Financial Performance Representations
Historical financial performance representations
Unlock premium content
Franchise Financials
Franchisor company financial information and financial performance representations, if disclosed by the franchisor.
Unlock premium content
Business details


Company name
-Business email
franchise@paymore.comMailing address
329 North Harrison AvenueState headquarters
North CarolinaKey leadership
PayMorePhone
+1 (000) 000-00-00City
CaryZip code
27513Name | State | City | Zip code | ||
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