HARTLAND, Wis., Jan. 7, 2014 (GLOBE NEWSWIRE) -- To help local entrepreneurs with the challenges of opening a new business in California, Batteries Plus Bulbs, the nation's first, largest and fastest growing battery and light bulb franchise, has announced a customized program offering sizeable incentives to potential franchisees looking to start a business in Southern California.
The California Development Incentive Program is designed to help new franchise owners quickly ramp up sales and cash flow by providing rent subsidies and covering a significant share of their grand opening advertising and marketing costs, among other perks. The program, being offered only in California, is the first of its kind for the 25-year-old franchise.
"For any new business owner, ramping up quickly and generating positive cash flow is critical," said John Twist, Vice President of Franchise and Business Development. "Our Incentive Program is designed to provide the financial support to make it easier for entrepreneurs in California wanting to enter the growing $30.7 billion U.S. battery and $17 billion U.S. light bulb replacement industries*."
Batteries Plus Bulbs' California Development Incentive Program consists of four key elements (See FDD for further details):
- Deferment of nearly 1/3 of the initial new store investment cost
- A "rent subsidy" for the first 12 months of operation
- A 50 percent contribution towards the new store's grand opening advertising campaign
- Volume based premium pricing on key commercial sales product categories for the first twelve months of business
With more than 600 locations nationwide and in Puerto Rico, Batteries Plus Bulbs is on track to open 55 new stores by the close of 2013. Batteries Plus Bulbs plans to open an additional 55 stores in 2014, 15 of which are part of the Southern California expansion plan. Key target areas for development include Los Angeles, Orange County, Riverside, San Diego and San Bernardino, among others.
"Everyone needs batteries and light bulbs, and we offer a proven business model and a needs-based franchise business serving both retail and business customers," adds Twist. "As technology continues to advance and consumers and businesses rely more and more on portable devices and energy-efficient lighting, demand for our products and services will only continue to grow. Through our California Development Incentive Program, we're committed to helping entrepreneurs in Southern California grow with us."
ABOUT BATTERIES PLUS BULBS
Batteries Plus Bulbs is the nation's first, largest and fastest growing battery and light bulb franchise with more than 600 locations nationwide and in Puerto Rico. 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
CONTACT: Media Contact: Aaron Gessner, Fishman Public Relations (847) 945-1300 or firstname.lastname@example.org
Source: Batteries Plus