Batteries Plus offering 'unprecedented' incentives for new franchisees
Batteries Plus is offering an array of new incentives for first-time franchisees as it looks to drive multi-unit expansion.
The company is offering what it termed “unprecedented incentives” to new franchisees who commit to opening at least one store before the end of 2024. The new incentive package, worth more than $107,000, is designed to ease the path to ownership and profitability. It includes substantial savings such as waived franchise fees, discounts for veterans, first responders and BIPOC owners, waived royalties, free inventory and freight relief incentives.
By minimizing upfront costs and maximizing early revenue potential, Batteries Plus said it aims to attract driven business owners who are ready to capitalize on the high demand for essential products and services.
"This incentive package is designed to remove barriers to entry, making it possible for new franchisees to open their doors and start serving their communities within this calendar year,” said Joe Malmuth, chief development officer at Batteries Plus. “The demand for our products and services has never been higher, and this initiative is all about meeting the needs of customers who are eager to have a Batteries Plus location in their community."
[READ MORE: Batteries Plus hits record growth in 2023]
With the average U.S. household containing dozens of battery-powered devices, and a robust commercial sector in need of reliable power solutions, Batteries Plus noted that it offers a stable and predictable investment. The retailer also offers key programming, replacement and cutting services.
The average initial investment to open a Batteries Plus franchise ranges from $252,286 to $493,836.
"By opening their first unit in 2024, franchisees can tap into a proven business model with strong commercial support, national accounts, and a growing e-commerce platform," said Victor Daher, VP of franchise development at Batteries Plus. "This is more than just an investment opportunity; it's a chance to be part of a brand that plays a crucial role in the daily lives of millions of people."
Batteries Plus, which is owned by private equity firm Freeman Spogli, has more than 800 store locations in operation or development nationwide.
