In today’s rapidly evolving landscape, businesses are constantly seeking innovative ways to gain a competitive advantage and stand out from the crowd. One trend that’s gaining momentum is the integration of electric vehicle (EV) charging stations into business parking facilities. It’s not just about meeting the needs of a small percentage of your customers today; it’s about embracing sustainability and technology to put your business (literally) on the map for the future.
Here are three ways becoming an EV-friendly business could boost your bottom line.
Power up your branding
Australia is witnessing a remarkable uptick in electric vehicle adoption, reflecting global trends. In 2023, Australian EV sales rose by an impressive 161 per cent with 87,217 vehicles sold nationwide. Over half a million Australians say their next car will be an EV, and with more models available at more affordable prices than ever before, these numbers will only grow.
For businesses, this presents a unique opportunity to cater to a growing market while demonstrating your commitment to environmental stewardship. Whether you’re a busy restaurant, a boutique hotel, or a retail store, offering EV charging can position you as a forward-thinking destination. Sustainability matters to many consumers, and people like to see their local businesses taking tangible steps to support eco-friendly initiatives.
Creating a Destination with EV Charging
Picture this: A weary traveller pulls into your establishment to refuel, both themselves and their electric vehicle. As they plug in and recharge their Tesla or Kia, they have time – as much as a few hours, depending on charger speed – to explore your offerings, enjoy your products or services, and perhaps even extend their stay. By providing EV charging, businesses aren’t just meeting a need; they’re fostering an inviting atmosphere that encourages customer engagement and loyalty.
Moreover, installing commercial EV chargers isn’t just a bonus for your customers; it’s a savvy business move. Research indicates that businesses with charging stations attract more foot traffic and experience increased revenue. Once your chargers are installed, your business can be included on several apps and websites that pinpoint charging locations for EV drivers, giving you instant access to a new audience motivated to find your location.
Charging for Charging: A New Revenue Stream?
One intriguing aspect of EV charging stations is the potential for businesses to generate revenue through charging services. While some businesses may offer free charging as an incentive to attract customers, others may choose to implement a fee-based model. This could involve charging customers a nominal fee for access to charging facilities, providing an additional revenue stream for businesses while also covering the cost of electricity.
By monetising EV charging, businesses can offset installation and maintenance expenses, making it a financially viable investment. Additionally, this approach encourages responsible usage of charging infrastructure (i.e., drivers are less likely to plug in and wander off for a few hours if they’re being charged for every kW!) and ensures that businesses can continue to provide high-quality services to their customers.
Sooner or later, EV chargers will be everywhere. In 2024, they’re still relatively hard to find, especially in certain areas. By investing in EV charging infrastructure ahead of the curve, businesses can not only attract new customers but also contribute to the ongoing transition towards cleaner transport. As the EV revolution gains momentum, businesses that embrace this trend have a golden opportunity to position themselves as sustainable, innovative and customer-oriented, and reap the benefits for years to come.
