Batteries Plus Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Batteries Plus is a retail franchise selling batteries, light bulbs, and related products, plus phone and key-fob repair, to consumers and businesses. Franchisees run stores handling retail sales, commercial accounts, and repair services.
FranchiseVerdict summary · 2026
A Batteries Plus franchise requires a total initial investment of $285K – $537K, including a $45K franchise fee and an ongoing 5.0% royalty[2]. Per the 2026 FDD, average unit revenue was $955K[2]. SBA 7(a) loans show a 15.2% charge-off rate across 208 loans[1]. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2026 FDD issuance
Overview
- Investment
- $285K – $537K
- 32nd pct Retail
- Avg gross sales
- $955K
- Net sales14th pct Retail
- Royalty
- 5.0%
- 6th pct Retail
- Units
- 734
- 42nd pct Retail
- SBA charge-off
- 15.2%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Retail · color = vs category peers
Green = favorable by >10% vs Retail avg · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $285K – $537K including a $45K franchise fee, 5.0% ongoing royalty.
- RETURNSAverage unit revenue of $955K/year (median $834K), with an estimated 14% cash-on-cash return (based on EBITDA).
- RISKVerdict B (Above average), verdict score 56/100 (higher is better). SBA loan charge-off rate of 15.2% across 208 loans (above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Batteries Plus, L.L.C.
- Parent company
- Square Brands International, LLC
- Ultimate parent
- Batteries Plus Holding Corporation
- Predecessor
- Batteries Plus Holding Corporation
- Prior franchisor entity
- CEO title
- Chief Executive Officer and Manager
- Scott K. Williams
- CEO experience
- 5 yrs
- Years in role or industry
- Incorporated in
- WI
- HQ
- 1325 Walnut Ridge Drive, Hartland, Wisconsin 53029
- Auditor
- Grant Thornton LLP
- Audited financials
- Franchisor revenue
- $330.7M
- vs $283.7M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Affiliated brands
- that acquires batteries
- or predecessor
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Scott K. Williams
- Headquarters
- WI
- Founded
- 1996
- FDD year
- 2026
- States available
- 47
Can you afford it, and what does the money buy?
Entry cost is about average for a retail franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown19 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $15K | $45K | |
| Travel and Living Expenses during Training | $500 | $3K | |
| New Store Commercial Support - 3 monthsnot refundable | $0 | $3K | |
| Retail Management System | $39K | $39K | |
| Omni-Channel Access Feenot refundable | $10K | $10K | |
| Miscellaneous Pre-opening Expenses | $2K | $5K | |
| Insurance Premiums (3 months) | $1K | $5K | |
| Delivery Vehicle | $1K | $19K | |
| Additional Funds - 3 months (Prior to Site Build Out) | $11K | $17K | |
| New Store Opening Hardware Kit | $6K | $9K | |
| New Store Marketing Campaign Contribution | $5K | $7K | |
| Minimum Store Promotion Requirement | $20K | $20K | |
| Rent - Security Deposit and 3 months rent | $5K | $24K | |
| Leasehold Improvements | $0 | $109K | |
| Equipment and Fixtures | $30K | $40K | |
| Signage | $7K | $16K | |
| Inventory | $58K | $74K | |
| Miscellaneous Supplies | $3K | $4K | |
| Additional Funds - 3 months (During and After Site Build Out) | $40K | $45K | |
| Total initial investment | $252K | $493K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $285K – $537K
- Top 40% of category vs category
- Liquid capital req'd
- $51K – $62K
- Top 40% of category vs category
- Franchise fee
- $45K – $45K
- Top 40% of category vs category
- Royalty
- 5.0%
- typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
- Payback period
- 7.1 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 1.0% of net sales |
| Technology fee | $509 |
| Transfer fee | $22K |
| Renewal fee | $9K |
| Inventory (initial) | $58K – $77K |
| Total fee load | 6.0% of rev |
A 6.0% total fee load is unusually lean. More of each revenue dollar stays with the franchisee.
What do units actually make?
Average unit sales land near the retail norm.
Reported as net sales, not gross sales
Source: FDD 2026 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for Batteries Plus until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
Total invested capital · disclosed
$467K
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
FDD-reported earnings
The FDD reports $106K as EBITDA. This is a disclosed figure, not our estimate — we publish no modelled profit for Batteries Plus.
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one Batteries Plus unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2026 FDD
Financial Performance
Reported as net sales, not gross sales
- Avg gross sales
- $955K
- Per unit, per year
- Median gross sales
- $834K
- Avg ebitda
- $106K
- Reported as EBITDA in FDD Item 19
- Cash-on-cash
- 14.1%
- Based on EBITDA / investment midpoint
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- net sales
- Sample size
- 490 outlets
- vs category median 46 · large
- Range (low → high)
- $408K→$7.4M
- Cohort dispersion (min → max)
- Quartile band
- $521K→$1.6M
- Bottom 25% → top 25%
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2025
- Transparency
- 10 / 10
- vs category median 3 / 10 · above
Compared against 278 Retail brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $955K/year in gross sales. Revenue-to-investment ratio: 2.3x.
Fee burden
Total ongoing fee load of 6.0% — below the Retail average of 9.0%.
Disclosure
Transparency score 10/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Retail averages
How Batteries Plus Compares
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 734
- Opened
- 30
- Last reporting year
- Closed
- 32
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 1
- Term expired, not renewed (per Item 20)
- Turnover rate
- 4.8%
- Company-owned
- 133
- Corporate units in the system
- % franchised
- 1%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 30
- Closed (3yr)
- 22
- Terminated (3yr)
- 2
- Non-renewed (3yr)
- 5
- Transfers (3yr)
- 46
- Reacquired (3yr)
- 4
- Franchisor bought back
- Transfer rate
- 6.4%
- Owners selling to other franchisees
- Ceased ops
- 9.0%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 16 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Available to sell in · Item 12
- Indiana
- Michigan
States where the franchisor is registered to sell new franchises (FDD registration filings).
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 208
- Loan volume
- $68.6M
- Median loan
- $245K
- 50th percentile
- Charge-off rate
- 15.2%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 86.5%
- 5-yr charge-off
- 14.3%
- Loans approved 2021+
- Active lenders
- 84
- Defaults
- 19
- Typical loan rate
- 7.2%
- avg rate to borrowers
- Franchised industry avg
- 18.7%
- brand beats franchise avg ↓
- Jobs supported
- 1,086
- 2.2 per loan
- Lender concentration
- 8%
- top lender's share
Borrower mix: 63% went to startups / new businesses, 37% to established operators
Franchise vs independent — in all other miscellaneous store retailers (except , franchised businesses charge off at 18.7% vs 23.2% for independents — franchising is associated with 19% lower SBA default risk in this category.
Vintage analysis
Batteries Plus charge-off rate by loan vintage
Top lenders financing Batteries Plus franchisees
Showing 3 of 84 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Batteries Plus's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 10 lenders with concentration factor
- Per-state charge-off rates across 15 states
- Startup risk premium and job creation velocity
- 25-year lending trend
- SBA 504 real estate/equipment data
Instant access. No subscription.
What could kill this investment?
SBA loans here charge off near the 16.0% national average.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Batteries Plus presents caution-level risk: a declining franchise system with active litigation, unverified financial claims, and margins that may not justify capital deployment for many franchisees.
Litigation (Item 3)
Batteries Plus v. Osmond Industries (FL, filed Aug 2025) - franchisor sued former franchisee for amounts owed. Ashwant Singh v. Batteries Plus (E.D. Cal / arbitration, commenced Dec 2023) - former franchisee alleged breach of contract, CA Franchise Investment Law violation, fraud; settled Sept 2025 with Batteries Plus paying $590,000.
Largest disclosed settlement: $590,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Grant Thornton LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 56 / 100 verdict
- 01MINORDeclining unit count (-0.5% YoY) suggests system contraction despite mature brand presence
- 02HIGHDual litigation with both franchisor suing franchisees and franchisees suing franchisor indicates relationship friction and potential operational/contractual disputes
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Territory radius | 3 mi |
| Territory population | 150,000 |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 15 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Curable defaultsℹ | 5 |
| Mandatory arbitration | Yes |
| Arbitration location | Wisconsin |
| Jury trial waiver | No |
| Governing law | WI |
| Litigation count | 2 |
View Item 3 litigation summary
Batteries Plus v. Osmond Industries (FL, filed Aug 2025) - franchisor sued former franchisee for amounts owed. Ashwant Singh v. Batteries Plus (E.D. Cal / arbitration, commenced Dec 2023) - former franchisee alleged breach of contract, CA Franchise Investment Law violation, fraud; settled Sept 2025 with Batteries Plus paying $590,000.
Items 10, 11
Training & Operations
- Classroom training
- 85 hrs
- On-the-job training
- 40 hrs
- Training location
- Pewaukee, Wisconsin (Batteries Plus Support Offices) and designated Batteries Plus Store
- Ongoing training
- Required
- Field support
- 168 hrs/yr
- On-site visits per year
- Time to open
- 12 mo
- From signing to launch
- Site selection
- franchisee proposes, franchisor evaluates and must consent
- Franchisor financing
- Not offered
- Item 10
- POS system
- Retail Management System (Back Office Software, ProSource RMS, Omni-Channel Software)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Retail Management System (Back Office Software, ProSource RMS, Omni-Channel Software)
Item 20 · call current owners
Franchisee Contacts
620 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Batteries Plus · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Batteries Plus franchise?
The total investment to open a Batteries Plus franchise ranges from $285K – $537K, with an initial franchise fee of $45K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Batteries Plus franchise owners earn?
According to Item 19 of the Batteries Plus FDD, the average gross sales per unit is $955K. The median is $834K. Important context: Reported as net sales, not gross sales. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the Batteries Plus FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Batteries Plus FDD and qualifies whose outlets they describe.
What is Batteries Plus's franchise failure rate?
Based on SBA 7(a) loan data, Batteries Plus has a charge-off rate of 15.2% across 208 loans, meaning 15.2% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Batteries Plus franchise locations are there?
As of their most recent FDD filing, Batteries Plus has 734 total units in the United States, including 601 franchised units and 133 company-owned units. 30 new units were opened in the latest reporting year.
Is Batteries Plus a good franchise to buy?
FranchiseVerdict rates Batteries Plus as a B-grade franchise with a verdict score of 56 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.