Batteries Plus® Reaches 200th Store Milestone Amidst Record Growth Year

HARTLAND, WISCONSIN (Monday, September 23, 2002) - Batteries Plus® announced today the opening of its 200th location – a milestone achievement in the midst of a record growth year for the nation's largest retail and business-to-business battery chain.
The 200th store, independently owned by Leonard Cyphers, officially opened September 23, 2002 at 1830 Piedmont Ave. N.E. in Atlanta. The Cypher group currently owns 3 of the 10 stores located in various locations in the state of Georgia. Batteries Plus currently operates 200 stores in 40 states and Puerto Rico with an additional 70 stores under development. This growth is expected to continue. As of September of this year, Batteries Plus has already entered into agreements for an additional 37 stores.

"The opening of our 200th store is a significant milestone for Batteries Plus,” said CEO Russ Reynolds. “We spent the better part of 2001 building our infrastructure to support what we projected would be a record growth year, and we were right on the money. The battery industry is quickly expanding through proliferation and consumption, which makes Batteries Plus a standout franchise opportunity. We are fast becoming a household brand name in America."

At the end of 2001, Reynolds announced an infrastructure consisting of state-of-the-art technology and ambitious executives to support a national network of independently owned franchise stores. Reynolds, who replaced Batteries Plus founder Ron Rezetko in July 2001, introduced the rapid expansion plans.

When Rezetko opened the first Batteries Plus in Green Bay, Wisc. in 1988, investors initially balked at the notion of a retail store that sold only batteries. Twenty years later, the “laughable” concept is at the forefront of a national trend.

“This company was founded on a dream of building a successful enterprise based on a society that was becoming increasingly battery dependent,” Reynolds said. “Today, we are expanding into battery categories that didn’t even exist 10 years ago. As we continue to grow our revenues and enhance our technologies, and with U.S. battery demand expected to increase to $23 billion in 2003, the sky is the limit for our franchisees,” said Reynolds, who noted that the chain projects to double its retail outlets by 2007.

Reynolds, a former retail manager for Target Stores and a vice president for GNB Technologies, a worldwide manufacturer of lead-acid batteries, has implemented a series of strategic initiatives to rapidly broaden the company's product and service offerings to serve retail and commercial aspects of the battery business.

Since taking the reigns as CEO, Reynolds has implemented an Intranet/Extranet system for franchisees, created web-based training curriculums, developed e-commerce initiatives and introduced an integrated point-of-sale system. In addition, he laid the groundwork for a national advertising presence and expanded training of new and experienced franchisees through face-to-face and distance learning programs.

Making good on its coined tagline, “1000s of batteries for 1000s of items,” Batteries Plus offers batteries for both common items (cell phones, watches, etc.), as well as the obscure (electronic voice boxes, glow-in-the-dark fishing bobbers, talking books for children and keyless door locks for major hotels). The demand for specialized battery products and services are apparent in every aspect of society. For example, all automatic teller machines have battery back-up; hospitals use batteries at a rate of approximately $100 per bed each year; and cable companies have a battery back-up for their signal boost about every 2/3 mile along their entire network.

On the commercial end, about 60 percent of each store's business stems from supplying batteries and services to local municipalities, fire and police departments, school districts and food store chains, among others. Noted national accounts include Sears, Chrysler Corporation, Honeywell and Cub Foods. Batteries Plus also offers reconditioning and rebuilding services for old batteries. At its on-site "Tech Centers," trained technicians rebuild battery packs for items such laptop computers, scientific instruments and surveying equipment. They also offer custom battery assembly and rebuild original equipment and battery packs.

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