A great franchise business opportunity is one that can solve the frustrations people face. Ask around and you’ll find that a surprising number of the most common frustrating moments center around batteries. The Christmas day discovery that batteries weren’t included with the toys. The moment when you’re about to take that great photo and the camera battery dies. The laptop battery that gives way in the middle of the big project — when you don’t know how to replace it or where to get a new one.
It’s just as frustrating when you can’t find the right replacement battery. There are so many different batteries; it can be really difficult to find the one you need, even at online retailers. Batteries Plus Bulbs franchisees own retail locations that have every battery you could think of — so they’re solving customers’ problems for profit.
You might think that batteries would be too narrow a produce assortment, but they’re a surprisingly large niche product. From the device you’re using to read this to your watch, batteries are a big part of our daily lives. There’s a huge existing market for businesses that answer customers’ battery needs. Batteries Plus Plus Bulbs franchise profits calculation has seen an 8.4% growth in net revenue over the last three years for all stores and in 2012 alone, they saw a 13.1% increase in net sales from the year before. Some business experts say having a mix of categories is important to success but it’s clear by these numbers that having variety in a single category can also be a pathway to a successful business.
Part of the success comes from tapping into multiple revenue streams. If retail business ever lags, Batteries Plus Bulbs franchisees also have a second revenue stream they can rely on for sales—corporate accounts. All types of industries need highly specialized batteries on a routine basis and Batteries Plus Bulbs serves corporate clients by providing affordable options that give them the competitive advantage. When a business has to spend thousands of dollars every few months replacing batteries that are an integral part of their business, the cost can be astronomical. Saving even a little money on batteries can help those businesses beat out the competition. When Batteries Plus Bulbs fills that corporate need and helps businesses get better prices than their competitors, they build strong, continuing relationships that bring in revenue.
Bulbs were a natural fit for expansion in the Batteries Plus business, which was the original model for the Batteries Plus Bulbs franchise. When they added light bulbs, they simply added the word to their name. Bulbs pose problems much like the problems people have with batteries: there are many different kinds, they’re hard to find, and people who need bulbs need them right away.
Batteries and Bulbs doesn’t stop at just providing products to their customers and clients but also delivers expertise in battery and bulb replacement. The average person can’t replace a watch battery, a computer battery that is encased in the shell, or other types of “hidden” batteries. Corporate clients might not know what types of batteries and brands are best suited to their needs. Having expert help on hand to replace batteries during purchase or to find a cheaper or better battery makes Batteries Plus Bulbs all the more valuable to their customers.