Electric vehicles (EVs) continue to gain traction with everyday drivers, and savvy business owners know this is an opportunity they can’t afford to miss. EV chargers for business spaces are becoming more necessary than ever. But how do you make sure your EV charging stations are not just an appreciated customer amenity, but a profitable business asset?
To make sure this investment pays off, you need to approach it strategically, carefully evaluating each step of implementation.
In this blog, we’ll dive into some actionable advice to ensure your EV chargers are a lucrative addition to your business. From understanding your market to selecting the right equipment, we’ve got you covered with everything you need to know.
Here are 5 practical tips to help you get started.
Tip #1: Consider Your Market & Their Specific EV Charging Needs
When it comes to EV charging, one size does not fit all. Start by thinking about who your customers are and how they use your business. For restaurants or malls where customers make short visits, DC fast chargers are ideal, offering a quick boost to get them back on the road. For hotels or parking facilities catering to guests with extended visits, slower Level 2 AC chargers may be more appropriate (and cost-effective), allowing guests to conveniently recharge over longer periods of time.
A combination of AC and DC chargers could cater to a broader spectrum of needs, ensuring that most users, who typically don’t require a full charge, have access to the right solution. Understanding what your customers actually need will help you pick the right type of chargers and ensure you’re meeting demand without going overboard.
Tip #2: Carefully Select Your EV Charging Equipment
Your financial returns from your EV chargers will depend heavily on the equipment you select. It’s important to have the right type of chargers and connectors to fit different EV models. You also need to ensure that your equipment is reliable and in the case of outdoor chargers, ready to withstand harsh outdoor conditions. Consider dual-mount EV charging pedestals to make the most of your available space and reduce your installation and maintenance costs.
Beyond the hardware itself, investing in a good Charging Management Platform (CMP) can make a big difference in your profitability and day-to-day operations. A CMP is a program that lets you easily keep an eye on charger usage, adjust pricing dynamically, and ensure everything runs smoothly.
The heart of your EV charging business lies in the quality of your setup. By picking dependable equipment and a robust management system, you’ll provide a superior service for your customers.
Tip #3: Choose Your Pricing Model Wisely
Figuring out how to charge customers for your EV services is another important consideration. One option is to include the cost of charging in your other services, depending on your main business. Do you offer live entertainment, or overnight lodging? Perhaps you could wrap the cost of EV charging services into your ticket prices, or room rates. Free EV charging can attract more customers and keep them around longer, leading to more sales.
Alternatively, you can charge based on how much electricity they use or how long they stay plugged in. This can help generate direct revenue from your EV charging stations.
Implementing a strategy to prevent “charger camping” (when people leave their car plugged in after it’s fully charged) can help keep spots available for others, maximizing your charging revenue. Setting your EV charging rates as a combination of usage and time is one common method. For example, you could charge $0.40/kWh + $0.35 per hour, to encourage users to move their car once they’re charged up.
Offering subscription plans for regular users can also bring in steady income. Consider offering tiered memberships that provide benefits like discounted rates, priority access, or exclusive charging spots.
Ultimately, the right approach depends on your business and your customers. By carefully planning your pricing strategy, you can ensure that your EV charging stations are both profitable and beneficial to your clientele.
Tip #4: Promote Your EV Charging Services In Your Marketing Efforts
Promoting your EV chargers is an essential part of developing your charging business. Remember when you first opened up shop and needed to get the word out? The same goes for your charging services.
Consider offering discounts or free EV charging for loyalty program members. Make it a part of your brand and highlight the convenience and environmental benefits to attract eco-conscious customers.
Use your website, social media, and local ads to let people know about your charging stations. Featuring this amenity in your marketing can set you apart from competitors and draw in new customers. EV drivers are often willing to travel out of their way when charging services are available on-site.
By making your EV chargers a prominent feature of your business, you can amplify their impact and profitability.
Tip #5: Location & Visibility Are Key!
The location of your chargers will have a huge impact on how often they get used, and as such, how much profit they can bring in. Place them in convenient, easy-to-find areas close to your main entrance. Visibility from the road can also attract passing EV drivers, bringing in more spontaneous visits.
Prominent signage can be a huge boost to your chargers’ visibility. Clear, branded signs can guide customers to the chargers and ensure they’re aware you offer the service. Choose EV pedestals that allow for visual customization and branding to make your charging stations instantly recognizable and easy to find.
The success of your EV charging station will hinge on its location and visibility. By strategically placing well-marked chargers at your business, you can maximize their usage and money-making potential.
The EV market is growing rapidly, and businesses that adapt now will be well-positioned for future success. Installing EV chargers at your business is a smart move that can attract more customers, boost your brand’s image, and generate additional revenue. By following these tips, you’ll not only enhance your customer experience but also drive long-term profitability.
If you’re curious about setting up EV charging stations at your business, our sales team is happy to help! Contact Arcpoint Connect with any questions you may have, or to start designing a custom EV charging solution for your business.