The below is a list of steps to start an EV charging station business.

1) Determine your EV charging station business location

  • The location should be easily accessible and have a lot of traffic for potential customers.
  • Near residential communities that have a high density of electric car ownership.

2) Assemble a team

  • Partner with a property management company to deal with leasing and maintenance of the property for your EV charging stations.
  • Work closely with local utilities and governments, as electric supply can vary by region or country.

3) Gather resources and financing

  • Identify the capital you’ll need to start your business – this will include all equipment, startup costs, real estate fees, licenses, permits, insurance rates, etc.

What is an EV Charging Station?

An EV charging station is a facility that supports electric vehicles by providing them with charging points, which are usually strategically placed at supermarkets, shopping centers, and public areas.

EV drivers can recharge their vehicles quickly and conveniently. These charging stations also help reduce the rate of CO2 emissions by reducing fossil fuel consumption.

Electricity-powered vehicles have been around for a while now but they still face a number of setbacks in terms of manufacturing costs, battery performance, and environmental sustainability. However, as the world becomes more environmentally conscious and as battery costs go down, it is likely that we will begin to see an increase in their popularity as an alternative to petrol-powered cars.

Why is an EV Charging Station Important?

With more people driving electric vehicles, it is inevitable that there will be a need for more charging stations.

Some people may not think that an EV charger is necessary, because they may find it easier to just charge their car at home. However, many people who use public charging stations also keep a charger at home so that they can plug it in when they are at work or out of the house.

Ways to make Profit with Charging Station Business

The charging station business is a booming market with a lot of potentials. The prices of electric cars are going down, and more people are buying them. As a result, the demand for charging stations will increase as well.

Here are some ways you can make a profit from your charging station business:

  • You can buy vacant land and build a charging station on it
  • You can rent out parking spaces at an airport
  • You can charge people to have their car charged, for example, they might have to pay an extra fee for recharging their car at night.
  • You could lease out space in your garage or house as a charging station

Investment Requirements for Starting an EV Charging Station

The most important requirement for starting an EV charging station business is the location. The location can be a deal-breaker for any aspirant business owner.

There are three main types of charging stations: Level 1, Level 2, and Level 3. The first two are both home chargers that usually use 240-volt standard household current or 208-volt direct current respectively. The third type of charger is typically used at public locations like cafes and shopping centers where it may offer up to 50kW of power with plans for upgrades in the future.

The 4 Steps of the Process to Get Started

Despite the myths, there is a profitable future in EV charging.

The 4 layman steps of the process to get you started with EV charging station business right away are:

1) Assess your needs

  • Find out what your hourly electric bill is
  • Determine if the electricity you are using is renewable or non-renewable
  • If non-renewable, find out how much you are spending on gasoline
  • Determine if you are eligible for rebates for EV charging stations

2) Invest 

A typical EV charging station will have multiple plugs for different types of electric vehicles to plug in and charge their batteries at once. These stations are generally placed near restaurants, malls, parks, etc., where drivers may want to spend time during long waits for their car’s battery pack to recharge before driving off.

3) Find customers

The electric vehicle market is booming and with it comes the increasing need for people to find places to charge their cars. The number of public charging stations is on the rise globally but there are still shortages in some cities. This leaves many drivers with no choice but to hunt down a parking space that can accommodate their electric vehicles.

The best way to replenish this shortfall is by targeting these drivers with your services which offer more convenience and privacy for people who own an electric vehicle.

Find new customers by presenting your selling points in a way that will resonate with this niche of customers – privacy and convenience when it comes to public chargers

4) Partner up with knowledgeable individuals

There are a lot of people who can know about the EV charging industry and be good partners. These people might be on the board of directors for a company, or they might work for an advisory firm. They may even work in public relations and be able to help you get your name out there.

Finding these partners can be done through networking events, conferences, and online forums. The important thing is that you need to find someone who knows about the EV charging industry and has similar needs as yours.

Final Thoughts

The scope of the EV charging station business is tremendous. The EV charging business is thriving with a forecasted $6.2 billion in revenue by 2021.

What are your thoughts?

Do write in the comment section below.