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What started as a single storefront in Massapequa with a mission to keep old electronics out of landfills has grown into one of the fastest-rising retail franchises in the country.
PayMore, the electronics resale brand founded on Long Island in 2011, continued its rapid expansion last month with the opening of 18 new locations across the U.S., Canada and the United Kingdom, according to an announcement.
The company specializes in buying and selling used electronics — from smartphones and gaming systems to laptops and tablets — offering customers a secure, environmentally friendly way to trade in their devices or recycle them responsibly.
Since its founding, PayMore has facilitated nearly 1.5 million device trade-ins, the company states.
“Our March 2025 expansion represents our commitment to making electronics trade-in services accessible to more communities across North America and now the U.K.,” said Stephen Preuss, who co-founded PayMore store with Erik Helgesen.
They opened their first store at 581 Broadway in Massapequa in 2012.
“We’re excited to bring our sustainable business model to these new markets and continue our mission of extending the lifecycle of electronics while providing exceptional value,” Preuss said.
The 18-store rollout is the latest milestone in a growth streak that has seen the company increase its number of locations by 600 percent over the past two years. The company began franchising in 2020, attracting a wave of multi-unit operators with its low start-up costs and streamlined operations, the announcement reads.
PayMore now operates 71 stores and expects to have about 150 open by the end of 2025.
In the first quarter of 2025, PayMore signed 13 new franchise agreements projected to bring nearly 70 more stores to states including California, New York, Florida, and North and South Carolina.
Its international footprint is also expanding as well, with several locations now open in Ontario and one in Luton, just south of London.
In total, more than 500 additional units are in development worldwide.
Top: Erik Helgesen and Stephen Preuss founded PayMore in 2011. (courtesy photo)
