Batteries Plus Takes Charge in Q3, Signs Agreements for 20 New Stores
Leading Specialty Retailer Surpasses Year-End Goal, Inks Record-Breaking 66 Signings Since January 2021
HARTLAND, Wis., (October 7, 2021) – The nation’s largest and fastest-growing battery, light bulb, key fob and repair franchise, Batteries Plus, announced today significant third quarter growth with the signing of 20 new store agreements, bringing the brand’s total signings for the year to 66. Included in the 20 new store agreements was a 10-unit signing which will expand the brand in Nevada and Utah, a three-unit signing in Philadelphia, PA and multiple two-packs set to expand Batteries Plus into Sacramento, CA and Wichita, KS. Additional single-unit signings will grow the brand in Georgia, Texas, Illinois and California.
Excitement around the brand’s growth is driven in large part by Vice President of Franchise Development and Relations and Certified Franchise Executive (CFE), Joe Malmuth. Batteries Plus has its sights set on an additional 15-20 signings before the end of the year – solidifying the record-breaking success the brand has seen in 2021.
“Entrepreneurs and current store owners want to join and reinvest in our system because we offer a stable, lucrative business model and our third quarter growth is a testament to the strength of our brand,” says Malmuth. “We are very proud of our continued success and look forward to strengthening our presence in key markets throughout the country with dedicated and passionate owners.”
The brand has noted an exciting trend of multi-unit ownership, showcased nicely by the 10-unit signing in the third quarter. Malmuth projects additional large-scale agreements to transpire before year’s end – putting the brand far ahead of its intended goal of 55 total signings in 2021. This year’s growth has been coast-to-coast with signings set to develop the brand in the Pacific Northeast, the Southwest (including Arizona and Utah), the South (including Florida, Texas, Louisiana and Alabama) and the East Coast (including New Hampshire, Long Island and the Raleigh-Durham area).
“Our focus for 2021 has been to promote infrastructure investments that will continue to help our existing franchisees navigate the uncertain environment brought on by the pandemic. At the same time, we have kept our sights set on expansion of our brand through new ownership,” said Scott Williams, CEO of Batteries Plus. “As we look ahead to the end of the year and early 2022, we will put our efforts toward bringing our unmatched products and services to communities across the country that are currently underserved by our brand.”
This year, Batteries Plus has taken proactive steps to spare its franchisees from inventory obstacles plaguing retailers around the globe. With a solid model in place and team members available to answer questions and address concerns, the company has helped their franchisees avoid major business obstacles. This year has also brought development and expansion for the Batteries Plus leadership team – further solidifying a strong foundation for continued franchisee support - and a partnership with Samsung in which the brand became the first retail partner in Samsung’s Independent Service Provider program. The partnership provides Samsung users access to receive best-in-class smartphone repair services at Batteries Plus locations across the country.
Before signing on the dotted line, Batteries Plus provides prospects with comprehensive data that reveals projected territory performance details. Within two weeks of a new signing, a member of Batteries Plus flies to the market to tour new sites. A key growth factor is the brand’s transparency with investors and the ability to see projected territory performance metrics before signing a deal. 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 760 store locations in operation and development 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. Batteries Plus was ranked on Franchise Times Top 400 list, coming in at #130.
To learn more about Batteries Plus, 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.
