Batteries Plus Surpasses 50 Signed Agreements, Sees Record-Breaking Growth in First Half of Year
Release Date: 7/21/2021
- Nation's Leading Specialty Retailer Ends Q2 with Monumental Signings, Looks Forward to Promising Months Ahead -
HARTLAND, Wis. -- Batteries Plus, the nation's largest and fastest-growing battery, light bulb, key fob and repair franchise, is having its best development year in the almost three decades since it began franchising with 52 new signings to date for 2021 so far. In fact, Batteries Plus exceeded 2020 total store signings by mid-April this year, setting company records and generating excitement around the brand and its trajectory for the rest of the year. With the leadership of newly promoted Vice President of Franchise Development and Relations, Joe Malmuth, Batteries Plus is on pace to surpass 75 franchise signings by the end of the year.
The close of Q2 brought many milestones for the specialty retailer, including the inking of the largest multi-unit deal in company history which will expand the brand in the Raleigh-Durham market. The 2021 signings will break the brand into new markets across the country including Yuma, Arizona, West Lebanon, New Hampshire and Long Island, New York. In addition to record franchise signings, Batteries Plus also opened the doors to eight new stores during the first half of the year.
"Batteries Plus has spent decades building a reputation as an industry-leading franchise opportunity and we have continued to solidify our spot as one of the most stable, lucrative business models out there," said Scott Williams, CEO of Batteries Plus. "Joe and his team are driving sales and excitement around our brand and investors are taking notice at an unprecedented rate. I am confident we will be the brand to watch as we head into the second half of the year."
Not only has Batteries Plus seen record-breaking investment in the brand thus far in 2021, the company has implemented tactics to continue to support its current franchisees through the volatile environment brought on by the pandemic. The brand has taken proactive steps to spare its franchisees from inventory obstacles plaguing retailers around the globe. Having a solid model in place and team members who are always available to answer questions and address concerns is what has helped franchisees avoid major business obstacles. This year has also brought development and expansion of Batteries Plus leadership team – further solidifying a strong foundation to help continue to support franchisees.
Over the past 10 months, Batteries Plus has inked a total of 75 signings, 90 percent of those being multi-unit investments. The second half of the year is looking just as promising for the retailer as there are multiple multi-unit agreements in the works, slated to be signed in the coming weeks. These deals will expand the brand in the Pacific Northeast, the Southwest including Arizona and Utah and the South including Florida, Texas, Louisiana and Alabama.
Before signing on the dotted line, Batteries Plus provides prospects software data that reveals projected territory performance details including store traffic information and within a week of signing and a member of Batteries Plus flies into their market with sites to tour. A key growth factor is the brands transparency with investors and the ability to see the projected territory performance metrics before even signing. With the multi-billion dollar markets the franchise model is built on (Batteries, $110B; Bulbs, $118.3B, Device Repair, $4B, Key Fobs, $4.82B, Smart Home Technology $28.86M), multi-unit owners are able to quickly open locations with speed and efficiency.
With over 700 store locations nationwide, Batteries Plus franchise owners are passionate about providing essential products and services for their local communities. Batteries Plus has also carved out a unique niche in the industry with its 'plus' services – including battery installation and key fob programming – capitalizing on both its knowledge and service offerings. Positioned for the battery-powered future, Batteries Plus supplies fundamental products that power people's lives – wheelchairs, mobility scooters, thermometers, etc.
To learn more about Batteries Plus, including information on the franchise opportunity or tour a store virtually, visit batteriesplusfranchise.com.
ABOUT BATTERIES PLUS:
Batteries Plus, founded in 1988 and headquartered in Hartland, WI, is a leading omnichannel retailer of batteries, specialty light bulbs and phone repair services for the direct-to-consumer and commercial channels. The retailer also offers key programming, replacement and cutting services. Through a nationwide network of stores, the company offers a differentiated value proposition of unrivaled product selection, in-stock availability and customer service. Batteries Plus is owned by Freeman Spogli, a private equity firm based in Los Angeles and New York City. To learn more about one of Forbes®' Best Franchises to Buy in America, visit https://www.batteriesplusfranchise.com.
SOURCE Batteries Plus
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