Batteries Plus Poised for Expansion Due to Essential Demand for Batteries, Lights and Repairs
Record-Breaking Sales Months, Multi-Unit Franchise Deal Point to Quick-Service Retail Model's Strength
September 14, 2020 // Franchising.com // HARTLAND, Wis. - As a result of the ongoing pandemic and the ever-increasing demand for essential products that fill consumer's immediate needs, one national specialty retailer is experiencing unprecedented growth. Batteries Plus, the nation's largest and fastest-growing battery, light bulb, key fob and repair franchise, has generated 12 new franchise agreements in 2020 and is on track to sign over 20 new franchise agreements by yearend.
Batteries Plus businesses across the country have remained open to help individuals, communities, and organizations keep their devices and electronic equipment (including laptops, hearing aids, medical devices like infusion pumps, monitors, carts on wheels, and more) running as smoothly as possible. The needs-based nature of the business provided reliable income to franchisees and resulted in the brands best sales and comp growth month on record in the 30-plus year history of Batteries Plus. Part of the recent development for the specialty retailer includes the company's largest multi-unit deal to open four locations throughout Boise and Western, Idaho.
"At the outset of the pandemic, we braced for the impact on the retail sector but are extremely pleased to see our performance remain stable with double-digit growth in e-commerce," said Scott Williams, CEO of Batteries Plus. "It's been a steady upward climb with strong numbers starting mid-to-late April with July being our best July ever and our 8th best sales month in company history. The dedication and grit our franchise stores have shown throughout this tough economic time has been impressive and now new candidates are taking notice of our strong business model."
While the brands core offerings are fundamental to people's lives and are built on multi-billion-dollar industries (Batteries, $32B; Bulbs, $22B, Device Repair, $4B, Key Fobs, $2B, Smart Home Technology $90.9M) – the pandemic realities shined a brighter light on the value of the Batteries Plus franchise opportunity.
The COVID-19 impacts that led to the immediate offering of contact-less curbside delivery included: the rise of the remote workforce, first-responders and hospitals in need of reliable batteries, virtual learning, consumers powering up outdoor toys (RV cars and boats) and Smart Home technology. Many franchisees of the 723-unit, Omni-channel retailer had to add staff and expand hours to meet the needs throughout this year.
"As customer behavior shifts, a quick-service retail model will remain prominent and a nonnegotiable," said Joe Malmuth, Managing Director of Franchise Development. "Batteries Plus was proactive and has a plan for the 'next normal,' retail environment. Our new franchise owners are eager to be a part of the solution-driven based business concept that always places customer satisfaction at the top."
In fact, the 4-unit deal led by an entrepreneurial, three-generation run family business chose to invest in the company because they saw the superior world-class support from the perspective of the commercial business account first. Working over 30 years within a brand name car dealership led the entrepreneurs to see the value of the concept through the battery needs of the automotive industry. The owner plans to target dealerships throughout his market for business accounts to deliver better products and pricing for his future customers.
Batteries Plus has multiple revenue streams to serve every individual and the needs of a variety of sectors including schools, contractors, churches, municipalities, healthcare, manufacturing, hospitality, property managers and assisted living centers. Batteries Plus has a franchisee-first mentality that is the cornerstone to its world-class franchisee support and proprietary technology advancements built within the model.
"Our brand fills a much-needed niche in communities across the country, especially in times of economic uncertainty," said Jon Sica, Chief Strategy Officer. "We performed well both through 9/11 and the downturn in 2008, because most often customers opt to repair instead of replacing cars, devices and other home electronics. Now with the omni-channel technology we've built and our growing team of franchise owners, we've never been in a better position to serve customers and continue expanding nationwide."
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.
SOURCE Batteries Plus
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