Batteries Plus signed with an experienced franchisee group to operate throughout the Atlanta region as part of a new area development program.
The battery sale and repair brand inked a deal with Equicorp Partners, a franchisee with ownership experience across several brands such as Popeyes and Cinnabon. Its current portfolio includes Arby’s and Batteries Plus.
The latest venture for Equicorp is an agreement to acquire 17 existing Batteries Plus units in Atlanta and develop 18 more. The deal is part of the brand’s new market stewardship program, which company officials described as a hybrid of a master franchise agreement and an area development agreement.
“Where we have great partnerships with a franchise owner in a market, we want them to have the opportunity to ultimately develop their way,” said Jon Sica, Batteries Plus chief business officer. “We were happy to offer it to Equicorp because we trust everything they’ve been doing to this point and we want them to have our trust that we will continue to help them grow their business.”
Batteries Plus Chief Business Officer Jon Sica
While this deal is new, Equicorp became franchisees of Batteries Plus about two years ago.
“We really weren’t sure where we were going to go with the brand initially, but as time went on, we learned more about the brand and saw a real opportunity in the Atlanta market,” said Greg Belatti, a partner and counsel at Equicorp. “The timing was just right for us to look at expanding our operations by adding more units.”
In addition to the franchise partnership, Equicorp has also partnered in the past with Freeman Spogli & Co., a private equity firm that acquired a majority interest in Batteries Plus in 2016. According to Belatti, Equicorp worked with Freeman Spogli & Co. in an advisory capacity and was also a co-investor in some of the firm’s portfolio companies.
“There’s a comfort level with having familiar faces in the discussions,” said Belatti, who also praised the leadership team at Batteries Plus.
“I think it’s one of the most impressive we’ve interacted with,” Belatti said. “They’re forward-thinking in taking the company to the next level. It’s a business that gets you into a lot of peoples’ lives and that’s a lot of opportunities for us to expand the brand.”
“Something that makes Equicorp stand out are their marketing plans, business plans and training behind everything they do,” Sica said. “They’ve been proactive in sharing those plans with us. They bring tremendous experience, not just from a franchise standpoint, but from a general business standpoint.”
Based in Hartland, Wisconsin, Batteries Plus was founded in 1988 and since then has grown to more than 720 locations across the country and in Puerto Rico.
“We have batteries across the board from cars to boats and the small ones for devices,” Sica said. “We also specialize in phone repair, key fob repair and commercial sales. I’d say we’re 70 percent retail and 30 percent commercial.”
The brand is opening about one store per week, according to Sica, and the company is now considering the next markets where another, similar deal can be signed.
In Atlanta, meanwhile, Belatti said Equicorp is both developing the new stores and giving an update to the existing stores.
“The first thing we’ve done is invest in the infrastructure for all the units,” Belatti said. “With the locations we purchased, we ensured that they received a refresh, with new counters, layouts and signage. We’re also investing in training and developing our talent.”