Batteries+Bulbs Highlights the Value of Investing in Retail at FFGC
In an agenda dominated by food brands, Russ Reynolds, CEO of Batteries+Bulbs, shed some light on why his retail brand is a good financing fit for the lenders attending the Franchise Times Finance & Growth Conference at the Encore in Las Vegas, March 13-15, 2017.
“We’re not sexy, but we’re predictable,” Reynolds said.
While retail business are losing share to online services, Batteries+Bulbs has an ace up its sleeve. “Immediacy is what we focus on,” Reynolds said. “Amazon Prime doesn’t do you any good when you have a power outage”—or when your car won’t start and you need to be at work in 15 minutes.
A Batteries+Bulbs store has more than 20,000 SKUs (stock keeping unit) for batteries and 12,000-plus SKUs for light bulbs. In addition, they repair cracked screens for smart phones and tablets. Immediacy is paramount here as well, since most of us feel dumbed down without a smart phone in hand.
They also are able to offer personal attention delivery services can’t, such as installing the purchased batteries in watches or electronics and replacing and disposing of lithium batteries (which have been in the news thanks to hoverboard fires).
“Half of what we sell is governed by shipping regulations,” he said.
So while you can get batteries and bulb from the franchise in the mail, you can cut out the delivery service middleman and head to one of the 700 stores.