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 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!