Batteries Plus to add 10-plus stores in Orlando
The goal is to have the new sites up and running as soon as possible.
Batteries Plus, a chain that repairs light bulbs and batteries for key fobs and battery-operated devices, plans to open at least 10 stores in metro Orlando within the next five to six years. This is part of their Central Florida expansion plan.
According to the company, it is their goal to get these new sites running as quickly as possible.
Batteries Plus, a company based in Hartland (Wisconsin) that was founded in 1988, has over 700 locations nationwide. It plans to open 45 more franchises by the end of this year. Central Florida has 13 stores.
In a prepared press release, Joe Malmuth said, 'We are confident that Batteries Plus Orlando will thrive and be well-positioned for tremendous growth over the long term, given the increasing demand for the product line of our industry in a world increasingly powered by batteries.'
Each store is approximately 1,200-1 800 square feet and has five to eight staff.
Batteries Plus products and services are in high demand because the average U.S. home has 28 battery-powered gadgets and 61 sockets for light bulbs. Orlando is also a popular destination for summer activities, including camping, boating, golfing, and biking.
On its website, the company lists an average unit volume of $887.666. The top quarter of all its stores made an average of $1.35 million. Veterans and first responders can also get a discount on the $44,500 franchise fee. Franchisees must have a net income of at least $350,000.
Batteries Plus, owned by Freeman Spogli - a Los Angeles and New York City based private equity firm.
According to a survey conducted by Franchise Insights on Nov. 2, which is part the Norfolk, Virginia-based Franchise Ventures franchise sales website, 53.8% agreed that it is "a good time to launch a business." This is down from a recent high of 72.5% in Feb.
A growing share (27.5%) sees business conditions worsening in the next three months. However, 72.5% expect conditions to be 'the same or even better' in three-months for new business. In October, 47.3% planned to launch their business within the next 3 months. This is down from the recent high of August, which was 69.2%.