HARTLAND, Wis., (January 11, 2023) – Batteries Plus, the nation’s largest and fastest-growing battery, light bulb, key fob and phone repair franchise, was recognized as one of the top 500 franchises in Entrepreneur’s Franchise 500®, the world’s first, best, and most comprehensive franchise ranking. The 44th annual Entrepreneur Franchise 500® is a highly sought-after honor in the franchise industry. Recognized as an invaluable resource for potential franchisees, the 2023 Franchise 500® ranked Batteries Plus as #351, a gain of 53 spots from last year’s ranking, for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
“The past year underscores the extraordinary opportunities that the franchise industry presents for entrepreneurs of all levels,” says Entrepreneur editor in chief Jason Feifer. “The companies named to our 44th annual Franchise 500 list represent some of the most innovative, creative, and trusted brands across many industries and highlight what it takes to build the kind of momentum that drives long-lasting success.”
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s 44-year-old ranking formula continues to evolve as well. The editorial team researches and assesses several factors that go into the evaluation including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order. Over its 44 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Batteries Plus’s position on the ranking is a testament to its strength as a franchise opportunity.
“We are coming off a record-breaking year for our brand in 2022 and this achievement highlights all the hard work our franchise owners and franchise support leadership team has put in to further propel Batteries Plus to the top of the franchise industry,” said Scott Williams, CEO of Batteries Plus. “This is our 30th year ranking on Entrepreneur’s prestigious list but that doesn’t make it any less sweet – we are honored and humbled to be ranked among the best franchise brands in the world and look forward to pushing ourselves to greater heights in the years to come.”
Batteries Plus has been on a steady path of growth which can be attributed to the multi-billion-dollar markets that the franchise model is based on – Batteries, $110B; Bulbs, $118.3B, Device Repair, $4B, Key Fobs, $4.82B. In addition, the brand’s inherent needs-based nature coupled with the stability of its business model has made it a very attractive investment opportunity. Franchise owners benefit from this, allowing them to open locations quickly and making business even more efficient. The brand’s stable, lucrative business model continues to garner interest from prospective franchisees who want to make these resources more available in their communities.
“Batteries Plus franchise owners are passionate about providing essential products and services to their local communities and this feel-good aspect of our brand continues to help us grow,” said Jon Sica, Chief Business Officer for Batteries Plus. “We are experts in powering our customers lives and will continue to evolve to meet their needs which is very enticing for prospective franchisees and a key reason we are and will continue to be successful.”
To learn more about Batteries Plus, including information on the franchise opportunity or tour a store virtually, visit batteriesplusfranchise.com.