Leading Battery and Light Bulb Franchise Shines in 2013 With Phenomenal Growth
Batteries Plus Bulbs Remains a Force in the $30.7 Billion Battery Industry and $17 Billion Light Bulb Industry*
HARTLAND, Wis. - Dec. 12, 2013 // GLOBE NEWSWIRE // - In 1988, Batteries Plus opened its first all-battery store in Green Bay, Wisconsin. Twenty-five years later, Batteries Plus Bulbs has become the nation's largest and fastest-growing battery and light bulb franchise, offering a comprehensive selection of over 45,000 batteries, light bulbs and related products. With the technical expertise and support to service both retail and business customers, the company continues its reign as the undisputed leader in the marketplace, having experienced another year of exponential growth.
With more than 600 locations in 46 states and Puerto Rico, Batteries Plus Bulbs closed out 2013 having opened 55 new stores with plans to open 55 more in 2014. The store openings over the next year will create 275-330 new jobs in the local communities where they are located. Because of the continued store growth, 14 new support positions have also been created at the corporate level in 2013, with plans to add 10-12 new corporate positions in 2014. In addition to this surge in store growth and job opportunities, a record number of new franchise agreements were signed in 2013, which will account for about 85 future locations. Over the past three years, more than one-third of existing franchise owners have also purchased an additional 140-plus stores, which is a true testament to the strength of the company's franchise opportunity. Furthermore, the company's decision to add light bulbs to its offering in 2010 has helped drive sales growth at the store level. Same store net revenue has increased an average of 8.4% annually during the last three years, while the total system sales increase average was 15.2% annually (FDD Item 19).
"The U.S. battery and light bulb industries continue to grow at a rapid pace because of legislation requiring the use of energy-efficient light bulbs and the vast amount of portable electronic devices on the market that require battery power," said John Twist, Vice President of Franchise and Business Development. "With an extensive array of new products and purchase options on the market that often leave consumers confused, Batteries Plus Bulbs has remained the leader in providing the knowledge and helpful advice that both retail and business customers need. You simply cannot find the level of service and expertise we provide from big box retailers and online sellers."
2013 was also a big year for the company, formerly known as Batteries Plus, as it marked its "official" entry into the light bulb industry by rebranding itself to Batteries Plus Bulbs. Since launching the initiative in January 2013, Batteries Plus Bulbs has rebranded more than 400 stores nationwide with the goal of transitioning remaining stores to the new identity over the next couple years.
Batteries Plus Bulbs stores carry light bulb products ranging from the common recessed lighting, track lighting, and energy-efficient CFLs and LEDs to extraordinary, highly-specialized light bulbs for cars/trucks, healthcare equipment, aquariums, projectors, and more. Specialized business account programs also fulfill large volume and energy-efficient lighting needs for businesses nationwide.
In addition to its impressive lighting offering, Batteries Plus Bulbs stores have access to batteries for thousands of devices, ranging from common items such as watches, cars/trucks, digital cameras, laptops and cell phones to those hard-to-find batteries for old toys and obscure electronic devices. Stores also offer an on-site tech center to assemble, test, condition and design custom battery packs for rechargeable household and business-to-business products, as well as battery installation services for many applications including watches, cars/trucks, and keyless remotes, among others. Additionally, Batteries Plus Bulbs stores offer an in-store recycling program using EPA-approved methods for safely recycling batteries, light bulbs, and select portable electronic devices.
"As the demand drivers in the battery and light bulb industries continue growing, Batteries Plus Bulbs will continue growing right along with them. As we further our franchise development efforts, our breadth and assortment of products, product knowledge, extended store hours and helpful service will help ensure our continued growth and set us further apart from the competition," added Twist.
Averaging more than one store opening per week, Batteries Plus Bulbs is offering franchisee prospects an exciting opportunity to own a thriving business selling two essential, needs-based product categories to both retail and business customers. Twist says the company plans to continue to focus its franchise expansion plans on the New York and Mid-Atlantic areas this year along with a major push on developing more franchises in Southern California. For more information on the Batteries Plus Bulbs franchise opportunity and available markets, visit http://www.batteriesplus.com/franchising/.
About Batteries Plus Bulbs
Batteries Plus Bulbs is the nation's first, largest and fastest growing battery and light bulb franchise with more than 600 locations in 46 states and Puerto Rico. Batteries Plus Bulbs is owned by Roark Capital Group, an Atlanta-based private equity firm. With access to more than 45,000 types of batteries, light bulbs and accessories, Batteries Plus Bulbs has the widest selection of battery and light bulb products available and offers unmatched service to consumers and businesses at the national and local levels. Batteries Plus Bulbs continues its reign as the undisputed leader in the expanding $30.7 billion U.S. battery replacement industry and in the rapidly growing U.S. light bulb replacement industry estimated at $17 billion*. For more information, please visit batteriesplus.com/franchising.
*Freedonia Research Study
Fishman Public Relations