Batteries Plus adds 16 stores to pipeline in Q3
Batteries Plus has added more than a dozen new stores to its development pipeline, furthering its continued growth.
The specialty battery retailer signed five new franchise owners in the third quarter of this year, securing the development of 16 new locations in Georgia, Massachusetts, Michigan, Ohio and Texas. In addition to new franchise agreements, Batteries Plus opened five new storefronts in the quarter, further expanding its presence with openings in North Carolina, Ohio, Virginia and two in Florida.
"Our continued success reflects the strength of our franchise opportunity and the trust entrepreneurs have in our brand," said Joe Malmuth, chief development officer for Batteries Plus, which specializes in batteries, specialty light bulbs and phone repair services. "With unmatched support and resources, we ensure that franchisees are equipped to meet the needs of their communities. This quarter's growth highlights the increasing demand for our products and services, making Batteries Plus a highly sought-after investment."
The continued 2024 expansion comes on the heels of a strong 2023 for Batteries Plus, as the retailer set record growth with 30 new stores and 54 new franchise agreements. Batteries Plus, which is owned by private equity firm Freeman Spogli, now has more than 800 store locations in operation or development nationwide.
[READ MORE: Batteries Plus offering 'unprecedented' incentives for new franchisees]
The retailer also recently strengthened its leadership team by appointing Victor Daher as global VP of franchise development and Brandon Mangual as VP of franchise development.
"As we move toward the close of 2024 and into the years ahead, Batteries Plus is positioned for continued growth and success," said Daher. "Our focus remains on supporting our franchisees with innovative solutions, expanding into new markets, and enhancing our diversity initiatives. We're excited about what's to come and are confident that our approach will lead to even greater accomplishments."
Founded in 1988, Batteries Plus is headquartered in Hartland, Wis.
