Strong Business Model Helps Batteries Plus Attract More Diverse Candidates

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Feb 20, 2023, 11:02 ET

Nation's Leading Battery Retailer Says 46 Percent of New Owners in the Last Year Come from Diverse Backgrounds

HARTLAND, Wis., Feb. 20, 2023 /PRNewswire/ -- According to the International Franchise Association, the minority ownership rate of franchises is 26 percent, compared to a 19 percent minority ownership rate of non-franchise small businesses. Traditional barriers to franchise ownership include difficulty finding financing, lack of education about how to run a franchise business, and lack of connection to the franchise industry.

One brand that is breaking these barriers through its stable and lucrative business model is Batteries Plus, the leading omnichannel retailer of batteries, specialty light bulbs and phone repair service. In fact, the national retailer reports that over the last two years, 40 percent of its owners have come from a diverse background. With its turn-key business model that gets minority candidate's investment on the right track from the start, Batteries Plus is invested in helping each of its franchisees grow thriving and successful businesses. Last year alone, 46 percent of signed franchise deals were executed with owners from diverse backgrounds.

One success story is that of the Lewis family, the African-American owners of Batteries Plus in Long Island, New York. It was six years ago, while on a family road trip to Virginia, that the Lewis Family discovered Batteries Plus and were blown away by the customer service and the concept. Fast forward to today and the Lewis family gladly shares their remarkable story of perseverance which led Audrey Lewis to fulfill her late husband's entrepreneurial dreams – one that will live on through their children. Audrey and Victor Lewis Sr. spent 28 amazing years together before Victor Sr. lost his ongoing battle with cancer in 2021. Victor Sr. had always dreamt of becoming an entrepreneur and leaving behind a successful legacy for his family. Today, Audrey and her children have dedicated their lives to turning Victor Sr.'s dream into a reality and carrying through a legacy of greatness.

Success has been swift for the Lewis family as their store is outpacing average first-year commercial sales projections by +65.9%. The family's sharp level of focus has led to continuous monthly growth, with a solid pipeline of business, and they are now on pace to double, potentially even triple, their current monthly commercial revenue by the end of the year.

"At Batteries Plus we have been focused on one task – how to create and maintain a business model that provides an opportunity for anyone with an entrepreneurial spirit to develop a successful business," said Scott Williams, CEO of Batteries Plus. "We are deeply passionate about our franchise owners and are very proud of our ability to attract and retain the industry's best owners – individuals who represent the diverse communities we serve."

Batteries Plus' corporate office has also spent the last year adopting diversity training, and the company is working to establish diverse business resource groups within the culture of the brand.

Batteries Plus has been on a steady path of growth which can be attributed to the multi-billion-dollar markets that the franchise model is based on. (Batteries, $110B; Bulbs, $118.3B, Device Repair, $4B, Key Fobs, $4.82B, Smart Home Technology $28.86M). Multi-unit owners can especially benefit from this, allowing them to open locations quickly and make business even more efficient. As well as the brand's stable, lucrative business model being a determinant of the continued interest from prospective franchisees who want to make these resources more available in their communities.

With over 800 store locations in operation and development nationwide, Batteries Plus franchise owners are passionate about providing essential products and services for their local communities. Batteries Plus has also carved out a unique niche in the industry with its 'plus' services – including cell phone repair and key fob replacement – capitalizing on both its knowledge and service offerings. Positioned for the battery-powered future, Batteries Plus supplies fundamental products that power people's lives – boats, automobiles, golf carts, motorcycles, mobility scooters, thermometers, etc.

Batteries Plus was ranked on Franchise Times Top 400 list, coming in at #130 and 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. To learn more about Batteries Plus, including information on the franchise opportunity or tour a store virtually, 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: Julianne Stevenson, Fishman Public Relations, [email protected] or 224-558-2510

SOURCE Batteries Plus