Batteries Plus Ranks on Entrepreneur's 2024 Franchise 500 List for 30th Year-in-a-Row

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Jan 16, 2024, 11:45 ET

Nation's Leading Battery Retailer Climbs 40 Spots on This Year's List

HARTLAND, Wis., Jan. 16, 2024 /PRNewswire/ -- Batteries Plus, the nation's largest and fastest-growing battery, light bulb, key fob and phone repair franchise, was recognized as one of the top 500 franchises in Entrepreneur's Franchise 500^®, the world's first, best, and most comprehensive franchise ranking. For 45 years, the annual Entrepreneur Franchise 500^® has been a highly sought-after honor in the franchise industry and recognized as an invaluable resource for potential franchisees. Franchise 500^® ranks Batteries Plus up 40 spots from last year's ranking, an overall improvement of 162 spots over the past three years, for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.

"Every brand on the Franchise 500 has its own unique story, but they all collectively make the same statement: Franchising is strong and resilient, is full of innovation and opportunity, and provides a powerful entrepreneurial path for many people," says Jason Feifer, Editor-in-Chief of Entrepreneur. "Our 45th annual ranking is full of companies with fresh ideas, exciting business models, cultural sway, and the kind of business sophistication that will define the next 45 years and beyond."

In Entrepreneur's continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company's ranking formula continues to evolve as well. The editorial team researches and assesses several factors, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is then given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500^® in ranked order.

Over its 45 years in existence, the Franchise 500^® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Batteries Plus' position on the ranking is a testament to its strength as a franchise opportunity.

"While this is our 30^thyear ranking on Entrepreneur's prestigious list, it remains a great honor for the Batteries Plus brand to be recognized among the best franchise brands in the world," said Joe Malmuth, Chief Franchising Officer of Batteries Plus. "This honor speaks to the dedicated franchise owners and franchise support leadership within the brand that has catapulted Batteries Plus to the top of the industry."

Last year's record growth for Batteries Plus was highlighted by 30 store openings and 54 signed agreements. Additionally, the brand introduced its Market Stewardship program that awards franchisees an entire market, a model typically found in Master Franchise (MFA) and Area Development (ADA) agreements. Coupled with the franchise growth, Batteries Plus welcomed 48 new national business partnerships to attain a 60% increase in total Business-to-Business (B2B) partnership growth. In 2024, the brand is predicting a 6-8% sales growth driven by a record third year of double-digit growth in the B2B segment.

"Batteries Plus is the largest and fastest-growing B2B and B2C services franchise, our skill dominates the device repair market with key partners, and our climb up this important ranking should signal to all multi-unit owners the strength of the Batteries Plus brand," said Jon Sica, Chief Business Officer. "Even as our brand grows, we will never stop bringing innovative new ideas and programs to drive sales and brand awareness for our stores."

To learn more about Batteries Plus, including information on the franchise opportunity or tour a store virtually, visit batteriesplusfranchise.com. 

To view Batteries Plus in the full ranking, visit http://www.entrepreneur.com/franchise500 or pick up a copy of the January/February 2024 issue of Entrepreneur on newsstands now.

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: Seth Goodman, Fishman Public Relations, [email protected] or 224-723-9645

SOURCE Batteries Plus