HARTLAND, WI, February 05, 2014 /24-7PressRelease/ -- or the 20th consecutive year, Batteries Plus Bulbs, the nation's first, largest and fastest growing battery and light bulb franchise, has received recognition in Entrepreneur's Franchise 500 rankings. For the fifth straight year, the franchise system has also been ranked No. 1 in the list's battery franchise category. ---
Ranking No. 79 overall, the acknowledgment recognizes the company for exceptional performance in areas including financial strength and stability, growth rate and system size. With more than 600 stores nationwide and in Puerto Rico, Batteries Plus Bulbs closed out 2013 having opened 55 new franchise owned stores with plans to open 55 more stores in 2014.
"This has been a strong year of growth and an important year for the brand," said Russ Reynolds, CEO of Batteries Plus Bulbs, which rebranded itself in early 2013 (previously Batteries Plus). "In addition to opening over a store per week, we had a record number of new franchise agreements that were signed to open more than 85 future stores. With the U.S. light bulb industry continuing to grow at a rapid pace and the proliferation of portable electronic devices keeping the U.S. battery industry expanding, we're in a great position for continued growth moving forward."
Entrepreneur's Franchise 500 is the world's first, best and most comprehensive franchise ranking. The rankings for all 500 companies are determined using an exclusive formula that takes into account objective and quantifiable factors. An independent CPA analyzes all financial data. All franchises are given a cumulative score, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
"Compiling the Franchise 500 every year gives us the opportunity to share data-driven insights, reflect on areas seeing progress and acknowledge the companies that have risen to the top," says Amy Cosper, VP and editor in chief of Entrepreneur. "Franchises play an important part in economic growth, and the names in the ranking are leading the way with their continued and emerging business success."
Furthermore, Batteries Plus Bulbs also recently ranked No. 63 in Entrepreneur's Top Fastest-Growing Franchises list scheduled to be released in February.
Batteries Plus Bulbs stores carry light bulb products ranging from the common recessed lighting, track lighting, and energy-efficient CFLs and LEDs to extraordinary, highly-specialized light bulbs for cars/trucks, healthcare equipment, aquariums, projectors and more. Specialized business account programs also fulfill large volume and energy-efficient lighting needs for businesses nationwide.
In addition to its impressive lighting offering, Batteries Plus Bulbs stores have access to batteries for thousands of devices, ranging from common items such as watches, cars/trucks, digital cameras, laptops and cell phones to those hard-to-find batteries for old toys and obscure electronic devices. Stores also assemble, test, condition and design custom battery packs for rechargeable household and business-to-business products, and they offer battery installation services for many applications including watches, cars/trucks, and keyless remotes, among others. Additionally, Batteries Plus Bulbs stores have an in-store recycling program using EPA-approved methods for safely recycling batteries, light bulbs, ballasts, and select portable electronic devices.
Averaging more than one store opening per week, Batteries Plus Bulbs is offering franchisee prospects an exciting opportunity to own a thriving business selling two essential, needs-based product categories to both retail and business customers. The company will continue focusing its franchise expansion plans in the New York and Mid-Atlantic areas this year along with developing more new stores in Southern California. For more information on the Batteries Plus Bulbs franchise opportunity and available markets, visit http://www.batteriesplus.com/franchising/.
ABOUT BATTERIES PLUS BULBS
Batteries Plus Bulbs is the nation's first, largest and fastest growing battery and light bulb franchise with a nationwide network of stores. Batteries Plus Bulbs is owned by Roark Capital Group, an Atlanta-based private equity firm. With access to more than 45,000 types of batteries, light bulbs and accessories, Batteries Plus Bulbs has the widest selection of battery and light bulb products available and offers unmatched service to consumers and businesses at the national and local levels. Batteries Plus Bulbs continues its reign as the undisputed leader in the expanding $30.7 billion U.S. battery replacement industry and in the rapidly growing U.S. light bulb replacement industry estimated at $17 billion*. For more information, please visit batteriesplus.com/franchising.
*Freedonia Research Study
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