From the Frontline to Franchise Ownership: Batteries Plus Bulbs Launches "Ownership with Honor" Program Offering Extensive Financial Incentives to Veteran Entrepreneurs
Initiative Offers Unparalleled Funding to Help U.S. Veterans Become Franchise Business Owners
Apr 15, 2015, 09:10 ET
HARTLAND, Wis., April 15, 2015 /PRNewswire/ -- In an effort to support veterans as they transition into civilian life or seek a career change, Batteries Plus Bulbs, the nation's first, largest and fastest growing battery and light bulb franchise, today announced a landmark franchise incentive program for veterans. The "Ownership with Honor" program offers qualified U.S. military veterans an extraordinary franchise opportunity and more than $210,000 in financial support to cover the lion's share of the initial investment to open a Batteries Plus Bulbs store.
Through the "Ownership with Honor" program, the specialty retailer will fund about 85 percent of the initial store investment, which includes the build out, initial inventory, signage, computer hardware, fixtures, equipment, grand opening advertising, and more. The program will be available for a limited time, and only a select number of veterans will be beneficiaries upon meeting specific qualifications.
"Our franchise system has experienced great success with military veterans as franchise owners because of their extreme discipline and strong leadership skills, yet many veterans face financial barriers to business ownership," said John Twist, Vice President of Franchise and Business Development at Batteries Plus Bulbs. "Our program removes those barriers by awarding these individuals with exceptional financial support unmatched in the franchise industry. Our vision for "Ownership with Honor" is to help U.S. veterans pursue their entrepreneurial dreams while also strengthening the franchise industry and U.S. economy."
Batteries Plus Bulbs has remained steadfast in its dedication to helping military veterans transition into the next phase of their careers and life by offering them financial incentives to franchise ownership. The company is currently a proud member of VetFran, a program created by the International Franchise Association to help military veterans become franchise owners. Batteries Plus Bulbs will continue to offer a $10,000 discount off its franchise fee to qualified military veterans in select markets who are looking to own their own business. The "Ownership with Honor" program now takes Batteries Plus Bulbs' support for veterans to a whole new level by offering extraordinary financial support to a select number of qualified, entrepreneurial-minded veterans looking to become franchise owners.
Candidates interested in applying for the "Ownership with Honor" program must be 25 years or older and a permanent U.S. resident, an honorably discharged military veteran from the U.S. Armed Forces, have some college or secondary education, and are required to demonstrate a net worth of $100,000 in liquid capital with $50,000 available in liquid assets. In addition to meeting standard selection criteria for all franchisees, applicants are required to submit a brief description detailing their previous business and military experience, identify the market in which they'd like to own their business, and provide a brief narrative on why they'd be a successful Batteries Plus Bulbs franchisee. To apply now, Batteries Plus Bulbs encourages applicants to visit http://www.batteriesplus.com/franchising/veteran-ownership.aspx
International Franchise Association President & CEO Steve Caldeira, CFE, commended Batteries Plus Bulbs for its dedicated efforts to assist veterans with business ownership opportunities, calling the program "outstanding." "The IFA's VetFran program allows hundreds of franchisors to offer discounts on their franchise fees for military veterans," he said. "However, it's wonderful to see companies like Batteries Plus Bulbs go above and beyond with additional incentives to help our nation's heroes transition into business ownership."
With more than 650 locations nationwide and in Puerto Rico, Batteries Plus Bulbs plans to open 50 additional stores in 2015. The company has open franchise territories nationwide and is focusing its development efforts in Southern California, New York and the Mid-Atlantic.
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 retail and business consumers at the national and local levels. Batteries Plus Bulbs also offers on-site repairs for Apple® devices, including iPhones®, iPads® and iPods®, most Samsung® devices and many more. Batteries Plus Bulbs serves more than 220,000 business and national accounts annually and continues its reign as the undisputed leader in the expanding $30.7 billion U.S. battery replacement market and in the rapidly growing U.S. light bulb replacement market estimated at $17 billion*. To learn more about our exciting franchise opportunities please visit http://www.batteriesplus.com/franchising/ for more information. *Freedonia Research Study
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SOURCE Batteries Plus Bulbs