Batteries Plus signed with an skilled franchisee group to function all through the Atlanta area as a part of a brand new space growth program.
The battery sale and restore model inked a cope with Equicorp Companions, a franchisee with possession expertise throughout a number of manufacturers reminiscent of Popeyes and Cinnabon. Its present portfolio contains Arby’s and Batteries Plus.
The newest enterprise for Equicorp is an settlement to accumulate 17 present Batteries Plus models in Atlanta and develop 18 extra. The deal is a part of the model’s new market stewardship program, which firm officers described as a hybrid of a grasp franchise settlement and an space growth settlement.
“The place we’ve nice partnerships with a franchise proprietor in a market, we would like them to have the chance to finally develop their approach,” stated Jon Sica, Batteries Plus chief enterprise officer. “We had been pleased to supply it to Equicorp as a result of we belief all the things they’ve been doing thus far and we would like them to have our belief that we’ll proceed to assist them develop their enterprise.”
Whereas this deal is new, Equicorp grew to become franchisees of Batteries Plus about two years in the past.
“We actually weren’t positive the place we had been going to go along with the model initially, however as time went on, we realized extra concerning the model and noticed an actual alternative within the Atlanta market,” stated Greg Belatti, a companion and counsel at Equicorp. “The timing was excellent for us to take a look at increasing our operations by including extra models.”
Along with the franchise partnership, Equicorp has additionally partnered previously with Freeman Spogli & Co., a non-public fairness agency that acquired a majority curiosity in Batteries Plus in 2016. In accordance with Belatti, Equicorp labored with Freeman Spogli & Co. in an advisory capability and was additionally a co-investor in a number of the agency’s portfolio corporations.
“There’s a consolation degree with having acquainted faces within the discussions,” stated Belatti, who additionally praised the management staff at Batteries Plus.
“I believe it’s probably the most spectacular we’ve interacted with,” Belatti stated. “They’re forward-thinking in taking the corporate to the subsequent degree. It’s a enterprise that will get you into numerous peoples’ lives and that’s numerous alternatives for us to increase the model.”
“One thing that makes Equicorp stand out are their advertising and marketing plans, enterprise plans and coaching behind all the things they do,” Sica stated. “They’ve been proactive in sharing these plans with us. They create super expertise, not simply from a franchise standpoint, however from a basic enterprise standpoint.”
Based mostly in Hartland, Wisconsin, Batteries Plus was based in 1988 and since then has grown to greater than 720 areas throughout the nation and in Puerto Rico.
“Now we have batteries throughout the board from vehicles to boats and the small ones for gadgets,” Sica stated. “We additionally specialise in telephone restore, key fob restore and industrial gross sales. I’d say we’re 70 % retail and 30 % industrial.”
The model is opening about one retailer per week, in accordance with Sica, and the corporate is now contemplating the subsequent markets the place one other, comparable deal could be signed.
In Atlanta, in the meantime, Belatti stated Equicorp is each creating the brand new shops and giving an replace to the present shops.
“The very first thing we’ve finished is put money into the infrastructure for all of the models,” Belatti stated. “With the areas we bought, we ensured that they acquired a refresh, with new counters, layouts and signage. We’re additionally investing in coaching and creating our expertise.”