Batteries Plus Bulbs Named America’s Sixth Best Franchise to Buy in 2018 by Forbes
During a time when many retail brands have been overpowered by online retailers like Amazon, Batteries Plus Bulbs continues to thrive. Forbes has recognized Batteries Plus Bulbs, a leading omni channel retailer of batteries, specialty light bulbs, and phone repair services, as this year’s sixth-best franchise investment in their medium-investment opportunity category.
Forbes teamed up with the franchise industry research firm FRANdata to rank 2018’s best and worst franchise investments. This year, 60 franchise brands were grouped by cost and ranked based on data that includes growth rates, earning potential, market adaptability and more. FRANdata looked at system sustainability, demand, the value of the investment, franchisor support and franchisor stability as the top criteria for the study.
Batteries Plus Bulbs CEO Russ Reynolds attributes the brand’s success to its competitive agility in the retail space and commitment to customer satisfaction.
“We have secured our position as one of Forbes’ best franchise investments by being nimble and changing our business alongside changing customer needs and behavior,” said Reynolds. “We’ve been ranked on this list four times, while none of the other brands in our category are on the list, which speaks volumes about the stability and future growth of our brand.”
In addition to sustainability and demand, Forbes considered profitability as one of its main criteria when selecting this year’s best franchises investment winners – Batteries Plus Bulbs currently leads in the $32 billion battery and $22 billion specialty light bulb industries and has seen a 22.6 percent increase in sales over the last three years.
In 2017, Batteries Plus Bulbs benefited from its willingness to stay agile in a constantly changing retail space. The company added 24 new franchisees, opened 26 stores, and six existing franchisees reinvested in the brand by signing on for additional locations. Now, the company is focused on expanding its store count by aiming to sign 40 new franchise agreements with existing and new franchisees by the end of 2018. The brand is seeking new franchise partners with territories available in desirable markets in Southern California and the Northeast, including Maryland, New York, New Jersey, Connecticut, Massachusetts, District of Columbia and Rhode Island.
ABOUT BATTERIES PLUS BULBS: Batteries Plus Bulbs, founded in 1988 and headquartered in Hartland, WI, is a leading omni channel retailer of batteries, specialty light bulbs, and phone repair services for the direct-to-consumer and commercial channels. 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 Bulbs 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.batteriesplus.com/franchise.