Stephen R. Preuss Sr. is co-founder and CEO of PayMore Stores, the tech-forward electronics resale franchise shaking up the circular economy. With more than two decades of entrepreneurial experience, Preuss helped build PayMore into a fast-growing hybrid business that marries e-commerce and brick-and-mortar, all while driving sustainable device recycling.

Under the leadership of Preuss and co-founder Erik Helgesen, the company has scaled rapidly, opening its 100th store in just a few years and attracting multi-unit franchisees from established sectors.

PayMore recently celebrated its 100th store opening – a milestone most brands take decades to reach. What do you think has fueled that rapid growth in such a short amount of time?

Erik and I are fast movers by nature, but we’re also strategic ones. Our growth comes down to three things: how well we work together, how closely we listen to our franchisees, and how relentlessly we stay ahead of the curve. Whether it’s technology, real estate, franchise systems, or consumer marketing, we face every challenge head-on with the mindset that we can always improve.

That constant drive to get better—and the willingness to listen—has created raving fans among our franchisees. We stay humble, adapt quickly, and keep refining the model to make it more profitable and efficient for everyone involved. That’s what keeps the momentum going.

The electronics resale market is booming right now. What’s driving this surge in demand, and how is PayMore positioned to lead the way?

If you really look at the history of electronics, the big smartphone and technology boom hit around 2010. That’s when it became normal for everyone to have a smart device and constantly upgrade to the latest tech. Erik and I were seeing this shift firsthand and launched PayMore in 2011 to meet that demand.

Resale electronics has always been a huge market, but it was extremely untapped. There were so many logistical challenges to figure out, and no one had built a model like ours before. Over the past 14 years, we’ve refined a process that makes buying, selling, and trading tech seamless, safe, and worthwhile for the customer.

Sure, there were mail-in options for used devices, but they never solved two major problems: data security and fair value. People want their devices wiped safely and want to feel like they’re getting a reasonable amount for their tech, and that’s where PayMore stands apart.

As technology continues to evolve, we’re now seeing new trends emerge. Prices keep going up, innovation has slowed down, and people are feeling tech fatigue. It’s no longer practical for everyone to buy the latest iPhone or laptop every year. Consumers are realizing that buying used just makes sense – and because devices aren’t changing as drastically anymore, they’re perfectly comfortable doing it. That shift in mindset is exactly what’s fueling PayMore’s growth

Retro and refurbished tech are having a cultural moment – from classic gaming consoles to older iPhones. Why do you think consumers are gravitating back toward “second-life” tech?

Similar to what I mentioned earlier, people are experiencing tech fatigue. Technology has advanced so fast that it’s almost overwhelming – and that makes people miss the simplicity of when they first got their gaming console or their first phone. Every category eventually has a retro moment. It’s a reflection of how long this technology has been part of our lives. Now, we’re seeing a full-circle moment – parents introducing their kids to the systems they grew up on, the same way people pull old clothes out of the closet once they become cool again. Baby Boomers miss the simplicity, and younger generations are curious about the era before everything became hyperconnected.

People gravitate toward second-life tech because it feels different. There’s nostalgia in it. The sound of a record player, blowing dust out of an old Nintendo cartridge… it connects you to a memory. Technology evolved so fast that the gap between generations is massive, and second-life tech gives everyone a way to slow down and reconnect with those earlier moments.

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Many of your franchisees come from the restaurant and retail industries. What’s attracting experienced multi-unit operators to PayMore?

First off, we’re extremely grateful for our franchisees. Many of them are seasoned operators who’ve run some of the biggest food and retail brands in the country, and their experience has helped us continue to grow and improve. What attracts them to PayMore is the simplicity of the model and the fact that it’s in a completely untapped market. Compared to food concepts, the cost to open a PayMore is significantly lower, the hours are shorter, and the operations are far more efficient. Franchisees can even generate revenue 24/7 through our e-commerce platform.

You don’t need an A+ site – PayMore is a destination. You just need a clean retail space, some cabinetry, and a small, well-trained team. Most stores run efficiently with just a couple of employees per shift. All of that cuts the workload and complexity in half compared to other franchises.

At the end of the day, it’s the simplicity of the model, and the success our franchisees are seeing, that continues to draw experienced operators our way.

How does PayMore’s mix of e-commerce and brick-and-mortar locations give it an edge in today’s retail landscape?

Our hybrid model lets us tap into both sides of consumer behavior. Most customers come into our stores to trade in their devices, get cash on the spot, and know their data is safely wiped. From there, our e-commerce platform allows franchisees to instantly resell those items to buyers all over the world – turning local trade-ins into global opportunities.

Customers can still shop in-store, but the e-commerce side broadens our reach exponentially while giving people a safe, secure, and convenient place to sell their tech. It’s the best of both worlds – local trust and global reach.

Sustainability is a big part of PayMore’s mission. Can you share how the brand is making an environmental impact through resale and recycling?

Sustainability has been part of our DNA from day one. Across all our stores, PayMore recycles more than 1.1 million pounds of e-waste every year – and that number continues to climb as we expand.

We also repurpose paper, cardboard boxes, and other materials whenever possible to reduce waste in our operations. Every PayMore location offers free recycling for electronics and free data wiping, giving customers a safe and responsible way to dispose of their old tech.

With more than 600 stores currently in development, our environmental impact is only going to grow – and we’re on track to reach e-waste recycling milestones no one in our industry has achieved before.

Looking ahead, what’s next for PayMore? What goals are you most excited about as the brand continues to scale across the U.S. and internationally?

We currently have more than 600 units in development across four countries, and our focus is on continuing to open stores quickly and efficiently while maintaining the quality and consistency that define our brand.

At the same time, we’re expanding globally—opening new international markets and actively seeking experienced partners who share our vision to bring PayMore to their regions. The demand for sustainable tech resale is everywhere, and we’re excited to connect with franchisees who want to be part of leading that movement worldwide.

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