Batteries Plus hits record growth in 2023

Batteries Plus is aiming to carry over its success in 2023 into the new year.

The consumer and business specialty battery franchise opened 30 stores in 2023 and signed 54 franchise agreements. Batteries Plus signed two separate six-unit deals in Q4, bringing six stores to Charlotte, N.C. and six stores to Florida’s Treasure Coast.

The majority of the company’s 30 new openings throughout the year were in the South, including four in Texas, three in Georgia, as well as a store in Puerto Rico.

“The impressive growth of Batteries Plus throughout this past year is a true testament to the brand’s stable and reliable business model which highlights its strength to provide immense opportunities for commercial sales, largely driven by the inherent need for reliable power sources,” said Joe Malmuth, chief franchising officer for Batteries Plus. “As we prepare to further expand our footprint in the region, we look forward to breaking into even more new markets throughout 2024 to better provide essential services and products across the country.”

Batteries Plus credits its 2023 growth to the introduction of its Market Stewardship program – awarding franchisees an entire market. This program hybridizes what is typically found in Master Franchise (MFA) and Area Development (ADA) Agreements. Kicking off the Batteries Plus program was the agreement inked by Equicorp Partners LLC in June, securing the rights to an 80-mile radius around the Atlanta market.

Also, Batteries Plus said it welcomed 48 new national partnerships last year and achieved a 60% increase in total Business-to-Business (B2B) partnership growth. Looking ahead to 2024, Batteries Plus is predicting a 6-8% sales growth driven by a record third year of double-digit growth in the B2B segment.

Founded in 1988, Batteries Plus is headquartered in Hartland, Wis.