The Franchise: Massapequa, New York-based PayMore buys, sells, trades and recycles electronics through its brick-and-mortar stores and e-commerce platform. Launched in 2011 by founders Erik Helgesen and Stephen Preuss, Paymore has grown from a single storefront on Long Island to a fast-growing national franchise with 12 locations open and 77 in development.
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2011: Tim VenHaus’ life turned upside down after he was hit by a drunk driver one day while riding his motorcycle. Bedridden for two years, VenHaus was forced to let go of the auto body business he had owned for a decade and explore other options. The experience kickstarted a career in franchising, starting with electronic repair chain uBreakiFix as one of its first franchisees.
“I thought, ‘Did I want to start another company from the ground up?’ It’s a long process and it’s tough. It just so happened that one day my daughter broke her phone and I thought, ‘Wow, what a business that is.’”
December 2021: Upon selling his seven area uBreakiFix stores, VenHaus wasn’t quite ready to retire. Some light research on top franchise brands led him to PayMore, which at the time only had a couple of locations on the East Coast.
“When I worked with uBreakiFix, I played a large part in growing the concept to over 700 locations across the nation. This is the kind of growth trajectory I see taking place for PayMore.”
MaY 2022: VenHaus signed a multi-unit deal to bring the PayMore brand to Wisconsin. He saw a need for a retailer that would allow consumers to sell or recycle their old devices and purchase used electronics at a reasonable price.
“It was important that I understood what (PayMore’s founders) were doing but also that they understood this isn’t my first rodeo. I’ve been through this, and I can help them grow their franchise.”
November 2022: PayMore’s first Wisconsin location opened. The 1,800-square-foot storefront is the first of three Milwaukee-area stores VenHaus plans to open in the months ahead.
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PayMore’s West Allis store at 2245 W. 108th St.[/caption]
The franchise fee: $35,000