Blog: How to Venture into EV Charging Station Business?
Electric vehicles (EVs) are becoming more popular as people seek greener and cheaper alternatives to fossil fuels. According to a report by BloombergNEF, EVs will account for 54% of new car sales by 2040. This means that there will be a huge demand for EV charging stations in the future.
Electric vehicles (EVs) are becoming more popular and affordable as technology advances and environmental awareness grows. According to the Society of Motor Manufacturers and Traders (SMMT), there were 92,913 pure-electric vehicles and 144,335 plug-in models recorded on UK roads as of October 2020. This trend is expected to continue as the UK government plans to ban the sale of new petrol and diesel cars by 2030.
Why EV charging station business is lucrative?
As the demand for EVs increases, so does the need for charging stations. This creates an opportunity for businesses to install charging equipment on their premises and benefit from them through electric vehicle charging station business plans.
Here are some of the benefits of the EV charging station business that you can’t ignore –
One of the main benefits of the EV charging station finding business is that it can attract more customers to your location. EV drivers are always looking for places where they can charge their vehicles conveniently and safely. By offering this service, you can entice them to visit your business and spend time and money while their vehicle is charging.
For example, if you own a retail store, a restaurant, a hotel, or a cinema, you can increase your footfall and sales by providing charging stations for an electric vehicle to your customers. Experts opine that income produced by sales through visitors who shop while their car is getting charged typically contributes to half the EV charging revenue.
Put your business on the map
The charging station business for electric cars and vehicles can put your startup on the map literally and figuratively. By installing charging stations, you can register your location on various online platforms and apps that help EV drivers find nearby chargers. In other words, such features integrated while electric vehicle charging station finder app development can increase your visibility and exposure to potential customers who may not be aware of your business otherwise.
For example, if you own a service station, a car park, or an office building, you can attract more visitors and tenants by listing your location on popular apps like Google Maps and Apple Maps. These apps also allow users to rate and review your service, which can boost your reputation and credibility.
Offer something your competitors are not
There are many trending startup app ideas, and offering something to customers that other businesses don’t is one of the core strategies. Here, the EV charging station finder can give you a competitive edge over your rivals who do not offer this service. By installing charging stations, you can differentiate yourself from other businesses in your area or industry and show that you are innovative and forward-thinking. You can also apply various EV charging station business models to earn profit.
For example, if you own a gym, a spa, or a salon, you can offer added value to your customers by providing electric vehicle charging stations for them. This can make them choose you over other similar businesses that don’t have this facility.
Increase customer connections
Electric vehicle charging station business can increase customer connections and loyalty. By installing charging stations, you can create an opportunity to interact with your customers more frequently and personally while they are waiting for their vehicles to charge.
For example, if you own a cafe or a barbershop, you can use this time to chat with your customers, offer them discounts, promotions, or loyalty cards, or ask them for feedback. This can help you build rapport and trust with them and encourage them to come back again.
Support a green business initiative by reducing your carbon footprint
A moral benefit of the electric cars and vehicle charging business is that it can support a green business initiative by reducing your carbon footprint. By installing charging stations, you can show your workforce and customers that you care about the environment and are contributing to reducing carbon emissions. This can enhance your business image along with other sustainability measures such as recycling, energy efficiency, or renewable energy sources.
Back up your brand values and CSR commitments
The business of Electric Vehicle charging stations can back up your brand values and corporate social responsibility (CSR) commitments. By installing charging stations, you can demonstrate your alignment with social causes such as climate change, air quality, or public health. This can strengthen your brand identity and appeal to customers who share these values.