Structure Your EV Charging Station Business

As electric vehicles become more common on the roads, you may be interested in opening an electric charging shop on your property. From commercial property developers to apartment or condo owners to entrepreneurs, many industries find value in electric vehicle infrastructure. However, it’s important to remember that the decisions are yours when it comes to structuring your business models for profitability and sustainability.

Installing electric vehicle charging stations in your business has several benefits, from increased profitability to amortization of energy costs. As we see it, there are essentially three ways of looking at it.

In today’s competitive landscape, companies need to find creative ways to attract customers while adding value to each transaction. Turning your location into an electric vehicle charging destination is one of the easiest ways to do it.

Some Ways to Structure Your EV Charging Station Business

Electric Vehicles FAQ : The Answers to All Your EV Questions

Structure Your EV Charging Station Business

Increase the time customers spend at your charging station: 

Once electric vehicle drivers stop charging, there is an obvious opportunity to cross-sell ancillary products and services. Regardless of whether a passenger is charging during lunch break or a minor league coach is charging his battery while shopping for team snacks, if you install charging stations, EV drivers will spend more time with you on site.

Depending on the selected charger, charging electric vehicles can take between 20 minutes and six hours (depending on the size of the battery). For shops, restaurants or gas stations, a fast charging (DC) solution is the ideal choice, fully charging even the largest electric vehicle batteries in less than an hour.

However, since most electric vehicles (EV) arriving at your location do not need to be charged from 0 to 100 percent, a standard Tier 2 (AC) charging solution can also meet a lot of drivers’ requirements and give them a range of around 40 km per hour. In many cases, a combination of AC and DC charging stations is the best solution. Some Ways to Structure Your EV Charging Station Business

Either way, by providing a convenient charging experience for your customers, you are also encouraging them to spend time and money at your location while they wait.

Some Ways to Structure Your EV Charging Station Business

Offer electric vehicle (EV) charging station for free: Some Ways to Structure Your EV Charging Station Business

Electric vehicle charging business models are not always about profitability or direct ROI. You can also install EV charging stations on your own property to show the people that you are commitment to sustainability and support EV drivers. Marketing campaigns that support these themes can help increase brand awareness. But it’s even better to save some money and then invest them in electric vehicle (EV) charging points to improve your company’s reputation.

With this business model, you can offer free of cost charging of one’s electric vehicles to customers, guests and tenants in your residential complex, hotel or shopping and entertainment center. This business model is likely to appeal to EV owners, but future EV owners and other sustainability-conscious consumers will appeal to you as well.

This is one of the best and easiest ways to install and manage electric vehicle chargers since you don’t have to worry about customer billing. You can deduct cargo and maintenance costs as operating expenses. Your income will come from increased traffic through your mall or the ability to charge a higher rent on your home for these amenities.

Promote your charging stations as part of your commitment to the environment and also gain positive promotion along with brand recognition. While these benefits are difficult to put monetary value on, they are valuable tools in any marketing strategy.

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Increase your reputation in the market: Some Ways to Structure Your EV Charging Station Business

Electric vehicle charging stations also put your business on the map, in the truest sense of the word. Popular navigation sites like Google Maps or Waze and special charging applications like PlugShare offer interactive maps that allow the driver to find nearby public charging stations. With charging stations in your location, you can increase your brand presence on these platforms and win new customers.

Plus, with custom charging stations displaying your brand colors or logo, you can dramatically enhance your corporate image by letting everyone who sees you know that your business is openly committed to a more sustainable future.

Environmental concerns are becoming increasingly important to your customers. By having charging stations on your property, you can establish your business as an environmentally conscious business, and even earn some prestigious sustainability certifications for your location (LEED, GBB, WELL).

Some extra tips:

Installation of regional rapid charging networks: Some Ways to Structure Your EV Charging Station Business

For large public and private companies, such as retail chains, hotel groups, and utilities, there are business opportunities around infrastructure gaps between regions and cities. Typically, significant internal resources and long-term partnership work are required.

Consumer-focused businesses with existing or planned facilities can gain a competitive advantage through marketing and branding opportunities and use EV charging as part of their customer experience. Electric vehicle drivers are attractive customers characterized by an above-average income and an above-average education. This model is attractive for companies looking to increase revenue per customer visit.

Multi-Site DC Rapid Charging Networks can breathe new life into worn facilities and give new businesses a boost. There are different public policy initiatives, incentives and funding opportunities in all countries and at the EU level to support investment. Tourist regions and regional development zones are particularly attractive places.

Local and small business initiatives: Some Ways to Structure Your EV Charging Station Business

Tourist destinations tend to compete for accommodation, services, activities, and accessibility. If accessibility is bad, the number of visitors decreases and companies suffer.

For cities and attractions that rely on visitor highways, electric vehicle infrastructure is increasingly important and offers a business opportunity.

The accessibility needs of self-employed drivers are changing as more and more drivers switch to electric vehicles. By 2020, the tourist destinations with the best charging infrastructure for electric vehicles will be the most accessible for the new generation of electric drivers.

Creating local infrastructure often requires coordination between groups of small businesses, such as local chambers of commerce or similar organizations. There is also the possibility of working with local tourism, culture, sports and environmental organizations. One possible complication is that the design of charging points for electric vehicles may have to comply with local monument protection regulations and planning ordinances.

Regardless of the business model that drives you to provide current electric vehicle owners with clean and environmentally friendly charging stations, you will benefit from all the advantages of electronic charging stations in your company.