The world might run on electricity, but just about every tool and gadget we own operates thanks to a battery of some sort. It’s easy enough to run down to the local store to purchase some AAA batteries for the TV remote, but what about those thin, little batteries for a hearing aid? Or what about a lithium-ion battery that needs to be replaced? Interstate Batteries is the answer to this problem because it is the only nationally branded store that provides battery solutions in the United States.
As a franchisee, you’ll have the opportunity to offer over 16,000 different batteries that can power almost anything in the home or office. You’ll find watch batteries, car batteries, and every size of alkaline battery made – and that’s just for starters! Best of all, if someone can’t find the battery they need at an Interstate Batteries location, the goal of the organization is to find it or build it for them. Does that sound like a good opportunity to you?
What Are the Initial Fees and Starting Costs For This Franchise?
The application process for Interstate Batteries begins with a look at your history of financial transactions. Your credit history will be examined and you must be able to prove a minimum net worth of at least $500k. You must also have at least $200k of that net worth be in the form of liquid assets. If you have access to these levels in investment capital instead of in net worth, some exceptions may be made based on the review of your information.
Once these findings have been verified, you’ll be subjected to an interview process. Because this franchise opportunity, or as they call it a “strategic partnership,” requires specific knowledge about batteries, you must be able to learn or be aware of what needs your community will have. Keep in mind that this brand started from sales that happened in the back of a pickup truck, so the 1-on-1 customer experience is important! Upon approval after this interview, there is a $37,500 franchise fee that will apply.
As your new franchise goes through the process of working towards a grand opening, Interstate Batteries expects a minimum investment to be at least $177k. A high end investment for this franchise could be as much as $338k. There is third party financing opportunities available in all stages of the investment up to $125k in total, including the fees, and the franchise agreement is a renewable 10 year term. You’ll also have an ongoing 5% royalty fee to pay to the organization.
In return, you get to be a part of one of the Top 100 fastest growing franchises and a consistent Top 200 franchise opportunity with locations that stretch from Central America to Canada.
What Kind of Support Do You Receive?
Unlike other retail opportunities the just include the franchisee, Interstate Batteries offers their initial management training program for up to 4 people in your organization. This training must be completed before the grand opening of your store and the costs are included with the franchise fee, less room and board. All training takes place at the company headquarters in Dallas, TX and it lasts for about 4 weeks in most circumstances.
Once completed, you’ll be given an initial franchise term of 10 years and this can be renewed twice in 5 year increments. The agreement doesn’t automatically renew – franchisees must provide written intent to renew the agreement. Absentee ownership of a franchise is available, but Interstate Batteries does require that two trained managers must be available at all times and be under the direct supervision of someone who has gone through the corporate training program. The preference, however, is to have owner-operators involved with the business.
Once all of these stipulations have been met, you’ll qualify your franchise to be able to have a grand opening. Once the doors of your new location open, you’ll be given a 6 month exclusivity license in your defined territory for the first six month you are open. Once that initial period of time expires, you’re given a non-exclusive right to open and operate a franchise location for the remainder of your 10 year initial agreement.
Why Choose Interstate Batteries As a Franchise Opportunity?
Even though the full incorporation of this organization is rather recent, it is built on over six decades of experience in the battery industry. They are one of the most recognized battery names and retailers on the US market today and that makes them a leader in the $86 billion battery market that exists worldwide right now. When someone needs a specialty battery, they want to go to a place that knows the battery industry. That’s not the big box retailer or the grocery store down the street!
You’ll also gain access to multiple revenue streams from the first moment that you open your doors for business. In the last year, the combination of online, retail, and commercial markets meant that the average Interstate Batteries location took in more than $1 million in revenues. This doesn’t mean that you’ll earn this much once you open your doors, but is instead an indication of the potential that your business has with this franchising opportunity.
Just about every person and every household today has a need for batteries. They are looking for niche expertise and crave a relationship with a brand that they can trust. If you can provide those things with the Interstate Batteries brand, then you’ve got the chance to find endless opportunities for success and community involvement. This market is growing at such an expansive rate that no one has any clue where it will stop. That’s why it is such an exciting opportunity!
If you would like to get involved, the first step is to apply online for more information about this opportunity. From there, you’ll be contacted about your information and will begin the franchising process. Why wait? Apply today!