A business that began as a single storefront on Broadway in Massapequa now has 150 locations. PayMore, the electronics buy-and-sell chain headquartered in Massapequa, announced on November 10 that it had reached the milestone with the opening of a store in Baton Rouge, Louisiana, on November 2.

From one shop to a national chain

PayMore was founded in Massapequa in 2011 by Stephen R. Preuss Sr., now its chief executive, and Erik Helgesen, its president. The company began franchising in 2020. At the end of 2024 it had about 58 stores; it has opened 38 so far in 2026, and it expects to close the year with roughly 165 open. More than 300 additional franchise locations have been sold and are not yet open, spread across the United States and Canada.

The first store is still where it started, at 581 Broadway, on the west side of the street north of Sunrise Highway. The company calls it its flagship.

What PayMore does

The model is simple from the customer's side. PayMore buys used electronics, usually for cash: smartphones, laptops, tablets, game consoles, computer components, smartwatches and cameras. It tests the devices, handles them under its data procedures, and sells them again as pre-owned. Anything too far gone to reuse is sent for recycling.

The company reported buying more than 800,000 devices from consumers between January and September 2026. In the third quarter, purchases at stores open at least a year rose 49 percent over the same quarter of 2025, and sales at those stores rose 47 percent. Computer components moved from the fifth-largest category to the largest.

Number 150

The Baton Rouge store, at 6555 Siegen Lane, is the third PayMore for franchisee Clay Koenig and partners Travis Bolster and John Gordon, who already run locations in Covington and Metairie and plan more in Louisiana and Mississippi. The company expects that store to add four full-time jobs.

PayMore says it will keep investing in pricing tools, automation, marketing and support for its franchisees as it heads into 2027.

Visit the original

  • Where: 581 Broadway, Massapequa, north of Sunrise Highway
  • Phone: 516-541-2100
  • What to bring: phones, laptops, tablets, consoles, computer parts, smartwatches and cameras; call ahead or check the Massapequa store page for current hours

Sources