HARTLAND, Wis., (January 12, 2022) – The nation’s largest and fastest-growing battery, light bulb, key fob and phone repair franchise, Batteries Plus, announced today the solidification of a record-breaking year in 2021. Significant fourth quarter growth caps off 12-months of success for the retail brand which brought a total of 88 signings through multi-unit agreements and organic growth with current franchisees. Included in the 88 new store agreements were many multi-unit signings including a 10-unit signing for Nevada and Utah, another 10-unit deal in Texas and Louisiana, an eight-unit signing in Atlanta – which officially sold out the market - and a three-unit signing in Long Island along with numerous other agreements which will expand the brand in Vermont, California, Arkansas, Georgia, Texas and Illinois.
In addition to the brand’s growth which was driven by extensive interest in the franchise’s stable, lucrative business model, Batteries Plus ended the year with other company firsts including shattering year-end goals by August 2021, implementing an Exit Strategy and Support Program for franchisees and hosting a first-of-its-kind Educational and Support Workshop for owners. This year also brought promotions to key players within the brand including Joe Malmuth, Vice President of Franchise Development and Relations and Certified Franchise Executive (CFE) and other members of the store development team.
“The past year saw the Batteries Plus franchise reach a rate of growth the likes of which our brand had never before experienced including store signings, openings and even corporate team growth,” said Scott Williams, CEO of Batteries Plus. “As a result, our company is better positioned for the future and able to grow alongside the expanding demand for specialty products and services.”
Heading into 2022, Batteries Plus has set new company goals to sign an additional 60 stores this year while opening another 55 across the country by year’s end. The brand will continue to put its franchisees first while focusing on making them more profitable. As with this year, Batteries Plus will continue to take 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.
“We are determined to keep our sights set on the most important aspects that will continue to fuel our growth – promoting infrastructure investments that will help our existing franchisees navigate the uncertain environment brought on by the ongoing pandemic, bringing on new owners while supporting the growth of our current franchisees and continuing to bring our unmatched products and services to communities underserved by our brand,” added Williams.
Target development markets for the brand in 2022 are centered on a growing presence in the Northeast, specifically from Philadelphia to Boston in addition to Southern California. 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.
“There have been many positive developments this year and as we reflect on 2021, we can be proud of what we accomplished. The bar has been set extremely high but I am confident in what our brand can do in 2022,” added Jon Sica, Chief Business Officer of Batteries Plus. “By staying true to our core offerings and continuing to support our owners and find the right prospects to help grow our brand, the sky is the limit for Batteries Plus.”
With over 800 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 and for the 29th year in a row, the brand ranked on Entrepreneur Magazine’s Franchise 500 list, climbing 69 spots over last year’s rank.
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.