12-28-2023 7:51pm

Business News: Batteries Plus Projects Fifth Consecutive Record-Breaking Year in 2024

Donnella Tilery Editor

Batteries Plus, the world's leading consumer and business specialty battery franchise, is about to deliver another total sales record in 2023, and plans for 2024 are poised to deliver even bigger gains as a continuation of the brands runaway expansion. The brand is predicting a 6-8% sales growth driven by a record third year of double-digit growth in the B2B segment.

"From the recession of 2008 through the pandemic, this is a brand that bucks the trends and succeeds when others do not. This high interest rate environment is no exception, and we've seen strong and sustained interest from multi-unit franchisees," said Jon Sica, Chief Business Officer for Batteries Plus. The need-based nature of the business, coupled with the brand's specialty products, trustworthy reputation and commercial sales appeal continuing to drive booming growth, Batteries Plus intends to expand its national footprint into untapped territories in the Northeast and Midwest including: New York, Massachusetts, Pennsylvania, Connecticut, New Jersey, Ohio, and Illinois.

"In an environment where few competitors match our rapid rates of expansion, Batteries Plus continues to be at the forefront of the industry each year, breaking records and fueling growth in both B2C and B2B revenue within our core categories," said Joe Malmuth, Chief Franchising Officer for Batteries Plus. "Our relentless dedication to innovation and pioneering multi-unit deals has set the stage for another groundbreaking year ahead, while our competitive edge attracts an influx of inquiries from potential franchisees, empowering existing owners to expand into new markets as multi-unit operators."

While the brand anticipates a sharp increase in multi-unit deals, Batteries Plus is also expecting to award as many as five additional Market Stewardship agreements in 2024, allowing franchisees to oversee an entire market. The program hybridizes what is typically found in Master Franchise (MFA) and Area Development (ADA) Agreements.

The brand's proven reliability is fueled by multiple revenue streams such as its ecommerce site as well as B2B business and national accounts. The dependable relationships with their own suppliers and vendors make it possible for franchisees to avoid supply chain disruptions and keep up with demand. Batteries Plus even pairs franchisees with experienced commercial sales coaches to help them capitalize on their position as an essential B2B supplier throughout the life of their business.

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.