Batteries Plus Company Profile

Background

Overview:
Founded in 1988 and headquartered in Hartland, Wisconsin, Batteries Plus is a leading omnichannel retailer specializing in batteries, specialty light bulbs, and phone repair services for both direct-to-consumer and commercial channels. The company also offers key programming, replacement, and cutting services. With over 800 stores nationwide, Batteries Plus provides a differentiated value proposition through an extensive product selection, in-stock availability, and exceptional customer service.

Mission and Vision:
Batteries Plus is committed to powering people's lives by offering essential products and services that meet the evolving needs of consumers and businesses. The company's vision is to be the go-to destination for power solutions, ensuring reliability and convenience for all customers.

Industry Significance:
As a pioneer in the battery retail sector, Batteries Plus has established itself as a dominant player in the franchise industry. The company's consistent inclusion in Entrepreneur Magazine's Franchise 500 list for over 30 consecutive years underscores its stability and prominence in the market.

Key Strategic Focus

Core Objectives:

• Expansion: Continuing to grow its nationwide footprint through strategic franchise development.

• Innovation: Enhancing product and service offerings to meet the dynamic needs of customers.

• Diversity and Inclusion: Fostering a diverse franchise network by supporting underrepresented communities.

Areas of Specialization:

• Product Range: Offering a comprehensive selection of batteries, light bulbs, and device repair services.

• Service Excellence: Providing specialized services such as key fob programming and battery installation.

Primary Markets:

• Consumer Segment: Serving individual customers with a wide array of power solutions.

• Commercial Segment: Catering to businesses with tailored products and services to meet their operational needs.

Financials and Funding

Ownership:
Batteries Plus is owned by Freeman Spogli & Co., a private equity firm based in Los Angeles and New York City.

Financial Performance:
The company has demonstrated robust financial health, with average sales exceeding $1 million in its top 75% of locations. This performance is bolstered by multiple revenue streams, including retail sales, commercial accounts, e-commerce, and national partnerships.

Pipeline Development

Growth Initiatives:

• Franchise Expansion: In the first quarter of 2022, Batteries Plus signed agreements for 18 new stores across multiple states, reflecting its aggressive growth strategy.

• Service Diversification: The company has expanded its service offerings to include cell phone and tablet repair services, enhancing its value proposition to customers.

Technological Platform and Innovation

Proprietary Technologies:

• Omnichannel Retail System: Batteries Plus employs an integrated retail system that ensures seamless customer experiences across physical stores and online platforms.

Scientific Methodologies:

• Battery Rebuilding Services: The company offers in-house battery rebuilding, extending the life of various battery types and providing cost-effective solutions for customers.

Leadership Team

Key Executives:

• Scott K. Williams – Chief Executive Officer: Bringing extensive experience in retail leadership, Williams has been instrumental in steering Batteries Plus through significant growth phases.

• Victor Daher – Global Vice President of Franchise Development: With a background in diverse markets and fluency in multiple languages, Daher focuses on expanding the franchise network and fostering diversity.

• Brandon Mangual – Vice President of Franchise Development: Mangual has played a pivotal role in driving domestic franchise growth and supporting international expansion initiatives.

Leadership Changes

Recent Appointments:

• Victor Daher: Promoted to Global Vice President of Franchise Development in October 2024, emphasizing the company's commitment to international growth and diversity.

• Brandon Mangual: Elevated to Vice President of Franchise Development, focusing on domestic operations and supporting global initiatives.

Competitor Profile

Market Insights and Dynamics:

• Market Size: The global battery market is valued at approximately $110 billion, with significant growth potential driven by increasing demand for portable power solutions.

• Industry Trends: The rise of electric vehicles and renewable energy storage solutions are contributing to the expansion of the battery industry.

Competitor Analysis:

• Battery Giant: A retail battery franchise offering a range of products and services, including battery rebuilding and recycling. With 19 stores across various states and international locations, Battery Giant presents competition in the specialized battery retail sector.

Strategic Collaborations and Partnerships

Key Partnerships:

• Samsung: Batteries Plus became the first retail partner in Samsung's Independent Service Provider program, offering premium smartphone repair services nationwide.

• Latino Business Organizations: The company is building partnerships to identify and cultivate franchisee candidates from underrepresented communities, aiming to strengthen its support network for Latino entrepreneurs.

Operational Insights

Competitive Advantages:

• Diverse Revenue Streams: Batteries Plus benefits from multiple income sources, including retail sales, commercial accounts, e-commerce, and national partnerships.

• Service Differentiation: The company's 'plus' services, such as key fob programming and device repair, set it apart from competitors by offering added value to customers.