Table of Contents
- How much Does it Cost to Build an EV Charging Station Business?
Starting an Electric Vehicle Charging Station isn’t a very complex process. In this article, we will discuss each and every aspect of start an EV Charging Station Business, including Expenses, Profit, how to franchise an EV charging station, how to make more money, and how to compete with others and get more customers.
A charging station, which is also known as an EV Charger or Electric Vehicle Supply Equipment (EVSE), is a piece of equipment responsible for supplying electrical power to charge electric vehicles (cars, trucks, buses, and others). They are rare even in some developed countries like Poland, Greece, Ireland, and Spain. Countries like Austria, Belgium, France, and Germany are facing issues related to a number of charging stations in their countries.
Currently, every government is promoting alternatives to petroleum and diesel; government promotes the uses of solar and electric energy.
Can electricity be an alternative fuel instead of petroleum? Yes! It can. Electricity as a fuel requires advanced vehicles under development for use; many electric vehicles are also in the market used by customers. These vehicles use electricity as fuel, and batteries are installed to store and provide electricity. These batteries need to be changed regularly like diesel engine vehicles needed petrol which leads to the need for Electric Vehicle Charging Stations Business.
Today Electric Vehicle Charging Stations Franchises are rare and can be a great and much more profitable EV Charging Station Business to Start. There are two types of electric vehicle charging stations, Residential Charging stations and Fast commercial charging stations, available for public use.
How much Does it Cost to Build an EV Charging Station Business?
How much does it cost to Develop an EV charging station Business? The cost of building an electric charging station depends upon the size, strength, and potential of the charging station, i.e., The cost of Start an EV charging station business ranges from fourteen thousand dollars to fifty thousand dollars, in addition to ample space for moving vehicles. There are three types of chargers Slow, Stander, And Rapid chargers. The government of India has made it license-free for an individual to set up an EV Charging Station business.
How to Start an EV Charging Station Business?
Starting an EV charging station business doesn’t require any license from the government, but one needs to take permission from the Ministry of Energy. The government of different countries provides several subsidiaries for commercial Public EV Charging Stations equipment machinery.
How much Does an EV Charging Station Business Make?
If we consider 8 hours of use per day and a profit margin of about Ten cents per unit of electricity charged, an operator will recover the setup cost in about three years. According to EVS reporters, the cost of running, which includes paying salaries on time, and maintaining the equipment, might seem daunting. Still, a long-term vision along with the capacity to invest should hold you in good stead till a time comes when it undoubtedly will become a profitable venture.
How do I Franchise an EV Charging Station?
How to franchise an EV charging station? EV charging station franchise cost is meager; throughout this blog, we will cover every point associated with electric two-wheeler and four-wheeler charging station franchises. All over the World, ten major companies assist EV charging franchises to everyone ChargePoint, Shell, Siemens, Tesla, Webasto, ABB, Hyundai Motor Company, Schneider Electric, EV Box, and Blink Charging.
Also Read: 7 Best EV Charging Station Finder Apps
How much Does an EV Charging Station Business Cost?
What is the overall cost of investments in an EV charging machine, or how much extra money requires instead of the mainframe of a charging station? The investment cost to start up a charging station varies from company- to – company. There is a big difference that depends upon the stander of the company, Power output, handling cost, and setup charges of EV Charging Station App. This may vary from country to country or from one company to another.
|Name of Investment||Requirement||Minimum Expense||Maximum Expense|
|Networking or Membership Fees||Optional||$0.00||$250.00|
|Campaigns, Printing, and Mail||Optional||$0.00||$300.00|
AC and DC Charging Station Companies: –
There are some companies providing EV Charging stations in the world market. Their chargers are highly modified and are more efficient. Some famous EV charging providers are ChargePoint, Shell, Siemens, Tesla, Webasto, etc.
ChargePoint: ChargePoint is an American company whose most of the chargers are based on Coulomb Technology, and is based in Campbell, California. ChargePoint operates the largest online network of independent EV Charging Stations operating in 14 big countries and makes their charging technology used in it. In the month of June 2017, ChargePoint took over 9,800 electric vehicle charging spots.
Tesla Charging Station: Tesla is an American manufacturer having the latest charging technologies. Tesla Supercharger is a 480-volt DC fast-charging technology built by the American company Tesla mainly for electric cars.
The Supercharger network was introduced in September 2012, with six Supercharging stations. As of February 18, 2021, Tesla operates over 30,000 Superchargers in almost 2,564 charging stations worldwide (On an average of 9 EV chargers per station). There are 1,101 stations in North America, 592 charging stations in Europe, and 498 stations in the Asia/Pacific region. Supercharger stalls have a connector to supply electrical power at the required rate of 72 kW or 150 kW or 250 kW.
➡️ ALSO READ: How Much Does it Cost to Build an App?
How does EV Charging Station Business Make Money?
Making money from an EV charging station business is not about collecting revenue from each unit of electricity sold. A customer spends about 20 minutes to 6 hours per charging at a charging station depending upon their battery size; preparing your location only for EV charging wouldn’t give you much profit. One needs to be creative and commercial-minded about attracting customers, and you should provide some add-on products to them while they are getting bored when their battery is being charged. You should provide Drinks, Snacks, Key-Ring, etc. to the customers when they buy these products from your station you will get some extra profit.
You should provide a fast DC charging technology that enables you to charge a battery in 1 hour instead of 6 hours. It would help if you increased your potential, I.e., you can charge several vehicles at a time so that customers won’t have to get in a line waiting for their turn.
SEE ALSO: EV Charging Station Business Model
How to Attract More Customers?
Generally, half of the people are unsure about finding a charging station when they need it. If you put your business on popular navigation sites, like Google Maps, and Waze, or on dedicated charging apps, it enables you to attract nearby drivers and help them locate you.
By having a charging station on your site as a Brand, you can attract new customers. Providing your brand logo on charging stations will increase your reputation and get you loyal and regular customers.
|Name of Investment||Required||Minimum Expense||Maximum Expense|
|Business Email Hoisting Services||Recommended||$1.00||$15.00|
Publishing your own mobile app will provide your customers with a better, easier, and faster way to reach your station. You can keep your customers updated about offers and sales at your EV charging station Finder App Business. You should provide a real-time navigation feature for distant customers or new visitors in your area.
Conducting a survey through your app will be a great idea before making any important changes. You should provide both payment methods, cash, and online payment service. Pay later service up to the selected number of times for loyal customers should be introduced. Attractive offers or sales should be displayed on boards or holdings, which helps to attract more customers. Your employees should be calm and should talk in an attractive way. Through your EV Charging Station Finder App Development, you can wallet the balance option.
Attracting new customers, Earning Brand Loyalty, increasing time and money spent by customers on the station, providing a fast and better charging experience, and getting add-on products will get you more customers and boost your income.