Batteries Plus Announces Q3 Metrics on Course for Year-End Performance Goals

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Nov 06, 2023, 10:18 ET

Leading Franchise Retailer to Use 2023 Systemwide Expansion as Benchmark for the New Year

HARTLAND, Wis., Nov. 6, 2023 /PRNewswire/ -- Batteries Plus, the world's leading specialty battery franchise, announced a close to their third quarter that exceeded expectations and set the stage for the franchise to achieve the year-end growth goals they established for the brand nearly 12 months back. Growth goals that aimed for more than just franchise agreements, but for the development of the franchise namesake in the public mind.

The third quarter saw the arrival of 4 new franchise agreements, accounting for a total of 12 locations, 11 of which will be with new franchisees. Their team also celebrated the grand openings of 7 new commercial stores across Yukon, OK, Hollywood, FL, St. Cloud, FL, East Boca Raton, FL, Costa Mesa, CA, and West Spring Valley, NV, as well as to 2 new brick-and-mortar storefronts in Carlisle, PA, and Wylie, TX. That growth is reflected by the record commercial and national account sales that the Batteries Plus team saw this past quarter.

"Even with 830 locations open and in development nationwide, Batteries Plus continues to partner with franchisees, new and existing, to break ground in untapped markets each quarter," said Joe Malmuth, Chief Franchising Officer for Batteries Plus. "Sustaining this level of development has required more than a one-of-a-kind franchise opportunity; it's required a degree of brand recognition that keeps the franchise top-of-mind for interested investors."

A robust quarter of franchise expansion aside, the Batteries Plus team was recognized with a number of accolades in the third quarter; including Entrepreneur magazine's inaugural ranking of the Top Franchises for Multi-Unit Owners, as well as Entrepreneur's Top 100 ranking for the most diverse franchises, and the 2023 Franchise Times Top 400 listing.

"The Batteries Plus business model continues to attract investment from those wanting to take advantage of our high-return opportunities and the soaring $100+ billion battery market," said Jon Sica, Chief Business Officer of Batteries Plus. "And as more franchisees join the system and prove the value of that model, our pipeline for new expansion will just continue to grow."

With over 830 store locations in operation and development nationwide, Batteries Plus has also carved out a unique niche in the industry with its 'plus' services – including cell phone repair and key fob replacement. Positioned for the battery-powered future, Batteries Plus was ranked on Franchise Times Top 400 list, coming in at #130. Plus, for the 30^th year in a row, the brand ranked on Entrepreneur Magazine's Franchise 500 list, climbing 53 spots over last year's rank and even becoming one of only 49 franchise brands to be inducted into Entrepreneur's Franchise 500 Hall of Fame. 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. 

MEDIA CONTACT: Conner Gossel, Fishman Public Relations, [email protected] or (937) 545-9812

SOURCE Batteries Plus