Batteries Plus Q2 Performance Highlights the Public's Return to Brick-and-Mortar

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Aug 02, 2023, 09:37 ET

World's Leading Specialty Battery Unveils Latest Franchise Metrics for Second Quarter Growth

HARTLAND, Wis., Aug. 2, 2023 /PRNewswire/ -- Batteries Plus, the world's leading specialty battery franchise retailer, put its recession-resilience to the ultimate test these past few years, weathering one of the most significant economic fallouts in recent history with the onset of the pandemic. And the consumer return to a brick-and-mortar purchasing experience has only benefitted the brand all the more. Their end-of-Q2 performance is a testament to the comeback and resilience of an in-person retail model.

The second quarter saw the arrival of 4 new multi-unit agreements, accounting for a total of 19 new franchise locations now under development. And after having celebrated the grand openings of 6 new storefronts over the past several months in several states including Colorado, Florida, Georgia, Louisiana, New York, and Pennsylvania, they were able to enter into Q3 with 13 new Batteries Plus locations open and operational, and an additional 21 underway.

Batteries Plus also welcomed the very first deal under their new Market Stewardship Program. This program hybridizes what is typically found in Master Franchise (MFA) and an Area Development (ADA) Agreements, allowing franchisees oversight on an entire market. Batteries Plus has never offered an MFA or ADA to any previous franchisee, further underlying the significant role this milestone will play in the expansion of the brand moving forward.

"Our standards for success and yearly expansion were at high points entering into the post-pandemic marketplace," said Joe Malmuth, Chief Franchising Officer for Batteries Plus. "We were coming off consecutive years of record growth and curious as to how much further we could push the bar without stagnating."

Malmuth and his team have been ecstatic to see that stagnation isn't in the cards for Batteries Plus anytime soon, as they continue to set new sales records and enjoy a robust pipeline of franchise deals materializing for both new and existing markets. Many flocking to the franchise for its flexible sales model that lets franchisees sell commercially before their brick-and-mortar location is even open. Allowing them to establish a profitable operation quicker, and the opportunity to begin forging b2b relationships early on.

In recognition of the franchisees that have been helping pave the way for the brand's ongoing development, Batteries Plus recently recognized dozens of franchisees in the system during its annual Sales Achievement Event. During which, more than 40 ownership groups received the President's Club award for achieving more than $1.2 million in sales, more than 22 ownership groups were honored with the Platinum Club award for achieving more than $1.5 million in sales, and 13 franchise groups received the Diamond Club award for achieving more than $2 million in sales across 16 stores.

"Our performance in the first half of 2023 has been exciting to watch, and we have high expectations to continue this momentum throughout the balance of the year," added Scott Williams, CEO of Batteries Plus. "We are seeing results in both new market expansion and multi-unit deals, and the unprecedented excitement in joining the Batteries Plus system is beyond exciting."

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