Infrastructure for EV charging is sometimes regarded as an expense; nevertheless, are you aware that EV charging stations for electric vehicles can generate considerable revenue? Find out how much money you have the potential to make in this article. Let’s first talk about who can reap the best advantages from having charging stations at their premises.
Hotels, restaurants, and supermarkets, among other establishments, benefit tremendously from this potential. According to a recent study’s findings, the spending rate increases by up to fifty per cent at locations that offer charging stations. 50% is considered a very high amount. One way to conceive of it is as a form of indirect revenue that the economy receives.
Your potential earnings are impacted by the kind of site you operate out of and the degree to which your EV charging stations are utilized regularly. Guests often can park their vehicles for eight to twelve hours overnight at hotels, during which time they sleep. In this particular situation, investing in charging stations would be the best choice from which you can earn some good profits.
On the other hand, consumers typically park their vehicles for approximately thirty minutes at gas stations. In such situations also, EV charging stations would be a great choice since they have a turnaround time that is short enough to enable all of your clients to charge their vehicles quickly and restart their journey.
How Can You Earn the Most Money Possible Through an EV Charging Station?
Charging consumers for using an EV charging station is the simplest way to optimize the revenue generated by these stations. Customers would not mind paying for charging capabilities while on the road, particularly in regions where the supply of chargers is in short supply. Even though it only costs them $0.75 per hour to charge at home, EV owners are willing to spend up to $3 per hour for charging, and 12 per cent are willing to pay $4 per hour, according to a survey that was conducted by E Source.
Adding electric vehicle chargers to your business premises can boost profits by raising the average amount the customers intend to spend.
Increasing the amount of money each client spends is possible by monetizing the EV charging station at your premises. In addition, while your customers are utilizing your charging infrastructure and waiting for a full charge, they will be more likely to spend their cash on other things on your premises, such as leisure-based activities or food vendors. Isn’t it beneficial for everyone involved?
Only 7% of EV owners responded that “price does not matter” to them. Customers will not hesitate to deposit their money into your EV charging station while on the go if that is the only option available because the requirement for a fully charged vehicle is more important to them than the need for a cheaper alternative.
Increasing the number of customers you serve with electric vehicle chargers can lead to higher profits.
If you install an EV charging station at your restaurant, you’ll be able to cater to an entirely new clientele comprised of people who drive electric vehicles. It is not a choice that can be made to go with anything else if a potential customer drives an electric vehicle (EV). Thus they will look for a hotel that expressly offers the infrastructure they require to charge their car.
As a result of the installation of your EV charging station, your company will see an increase in the number of customers who patronize it, and it will increase your overall revenue as well. It is because eco-conscious customers can now view your company as a potential option, whereas this was not the case before the installation of the chargers.
How to Increase Foot Traffic to Your Business by Having an EV charging station?
Multiple studies have shown that an EV charging station can bring in new customers, increase the time people spend in a store, and ultimately increase sales for the business. During a panel discussion organized by the Center for Climate and Energy Solutions, Charles Satterfield of Atlas Public Policy stated that the indirect income from increased foot traffic is “often more important than user fees from the charge itself.” Aside from that, it raises the level of satisfaction experienced by customers, which frequently results in increased client retention and general marketability for your company.
Why is gaining an understanding of the various pricing schemes for charging electric vehicles is important?
You, as a retailer, have several different pricing options available, including basing prices on the amount of energy distributed, the amount of time spent charging, or some combination of these criteria. The best pricing method for you will be determined by the type of business you run, the rate plan for your utilities, the structure of your customer loyalty program, and how long drivers spend at your location. Be sure to select a billing provider that gives you leeway about the price approach you decide to implement. Get in touch with MNL Asia as soon as you are ready to begin increasing revenue at your retail site with an EV charging station. MNL Asia is always there to help you in choosing the ideal pricing strategy for your company.
Installing an EV charging station is a wise investment for the future, and it is essential to maintain a competitive advantage over other businesses in the industry. Considering that an increasing number of professionals are selecting electric vehicles as their mode of transportation for work, it makes perfect sense for hotels and other service providers in the hospitality industry to invest in installing electric chargers. These clients will be patronizing your establishments and spend their hard-earned money benefiting your business.
You are well aware that the environment in which your company operates is highly competitive. You must ensure that your efforts never result in a loss of profit while simultaneously concentrating on the whole experience that each customer receives. The installation of electric vehicle charging stations on your property brings significant financial benefits not only to you but also to the people who patronize your business.
Our staff at MNL Asia are experts on electric vehicle charging stations and are great EV charging station consultants. We can help you realize how you can profit from installing electric vehicle chargers at your business. We will also offer support and advice at every stage of the process.