Batteries Plus Signals a Strong 2024 Following Record Growth Throughout 2023

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Jan 10, 2024, 11:15 ET

Leading Battery Retailer Marks Fourth Consecutive Year of Consistent Growth with 50+ New Deal Signings

HARTLAND, Wis., Jan. 10, 2024 /PRNewswire/ -- Batteries Plus, the world's leading consumer and business specialty battery franchise, enters 2024 with fresh momentum after accomplishing record growth in 2023, including 30 store openings and 54 signed agreements.

Amongst the new signings were two separate 6-unit deals in Q4. Husband-wife team and experienced entrepreneurs Chris and Nicole Fasulka signed on to bring six stores to Charlotte, North Carolina by the end of the year. Meanwhile, Kurt and Liz Storkel – another husband-wife duo out of West Palm Beach – agreed to bring six stores to Florida's Treasure Coast, with their first location recently opening in Okeechobee.

Their store was one of six new Batteries Plus stores to open in Florida in 2023. In fact, the majority of the brand's 30 new openings throughout the year were in the south, including four in Texas, three in Georgia, as well as a store in Puerto Rico. This southern expansion largely highlights the growing consumer demand for sustainable solutions to power.

"The impressive growth of Batteries Plus throughout this past year is a true testament to the brand's stable and reliable business model which highlights its strength to provide immense opportunities for commercial sales, largely driven by the inherent need for reliable power sources," said Joe Malmuth, Chief Franchising Officer for Batteries Plus. "As we prepare to further expand our footprint in the region, we look forward to breaking into even more new markets throughout 2024 to better provide essential services and products across the country."

Fueling the brand's record franchise growth for the year was the introduction of Batteries Plus' Market Stewardship program – awarding franchisees an entire market. This program hybridizes what is typically found in Master Franchise (MFA) and an Area Development (ADA) Agreements. Pioneering the Batteries Plus program was the agreement inked by Equicorp Partners LLC in June, securing the rights to an 80-mile radius around the Atlanta market.

"The Market Stewardship program marks a milestone for our brand, as we have never before offered such an opportunity to a franchisee," said Jon Sica, Chief Business Officer of Batteries Plus. "The early success of this program is based on the synergy of a great franchise concept with savvy multi-unit operators. We look to build out this unique opportunity and award as many as five additional such agreements in 2024."

Batteries Plus added to its 2023 successes by powering countless communities around the country through unique business partnerships. The brand welcomed 48 new national partnerships and achieved a 60% increase in total Business-to-Business (B2B) partnership growth. Looking ahead to 2024, Batteries Plus is predicting a 6-8% sales growth driven by a record third year of double-digit growth in the B2B segment.

To learn more about franchising with 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: Meg Ryan, Fishman Public Relations, [email protected] or 847-945-1300 ext. 264

SOURCE Batteries Plus