To know the actual potential of a charging station you first need to observe your customer behavior and understand what the business you’re into. A typical charging station occupies a huge space and using it just for charging EVs is like wasting a lot of resources which could’ve turned into green profits.
So, here let’s see how you can utilize the full potential of your EV charging station and make it a money-making machine.
(Do me a favor (Remember this): People are gonna spend a significant time charging their EV in a charging station)
1. Sell Products:
Sell consumables, open a fast-food joint, sell EV-related merchandise, sell refreshments, sell whatever fits the best according to your nearby market, and is somewhere related to the charging station.
2. Advertise Advertise Advertise:
You can collaborate with various brands or reach out to advertising agencies and sell your most favorable spots to them by showing ads in your charging station. This can be a really profitable and easy way to make money out of nothing. Because you aren’t really making any extra effort to make that money.
3. Sell Services:
Selling EV-related services can be the most successful side business on your charging station. You can provide services like car wash, vehicle servicing, denting painting, spare part store, car customization, etc. Along with EV-related business, you can also go with services like spas, salons, massage centers, etc. (only if it works).
4. Lounge and Relaxation area:
People are gonna spend a significant amount of time charging their EVs in the charging station they’ll need someplace to spend their time and relax while their EV is juicing up. So, this business has a very high chance of going hand in hand with the charging station. But its success rate is proportional to the wealth of the people who live in that society.
5. Referrals:
This is a bit complex but a highly rewarding business. You can collaborate with nearby businesses and redirect your charging station customers to the nearby food joints, departmental stores, car wash, or other similar businesses and ask those businesses to offer products to your customers at a small, discounted price. This way you don’t have to build your own store and will still be able to sell products to your customers.
This is a bit of a complicated process, and you’ll need to figure out how you will be able to make profits and margins in between.
Final words:
Now you might be thinking why such a business had no success with petrol pumps. The reason is customer behavior. The petrol pump had zero waiting period and people would just come and go so putting up any such business wouldn’t have made sense with the petrol pump. But that’s not the case with the charging stations people are gonna wait at the charging station and the above-mentioned business has a very high chance to work.