Every year, more drivers are switching to electric vehicles (EVs). More than 10 million EVs were sold worldwide in 2022. At first glance, electric cars might seem like the enemy of a gas station owner – after all, that signals a lost customer, right? Not necessarily!
While your old customer may no longer need traditional fuel, they still need to charge their vehicle. Installing an EV charging station lets you keep that loyal customer in your network. Keep reading to learn more about the electric car charging stations business opportunity present for gas station and grocery store owners!
EXPAND YOUR CUSTOMER BASE WITH EV CHARGERS
It’s hard not to notice – EVs and their charging stations are popping up everywhere. But are electric car charging stations a good business opportunity? Yes, they are!
You’ll expand your business’s relevance instead of just appealing to fuel customers. Here are a few customers who can benefit from your electric vehicle chargers.
PREVIOUS CUSTOMERS WHO HAVE TRANSITIONED TO AN EV.
One of your most loyal customers used to stop by almost every day. After filling his car, he would go inside and grab a drink and a snack for the drive. But he recently switched to an electric vehicle.
Despite preferring your business (and your coffee!), he stops at the gas station down the road, which allows him to top off his EV’s charge. If you install an EV charging station, you can keep his business!
NEW CUSTOMERS WHO MIGHT OTHERWISE DRIVE PAST.
Many electric vehicles have a charging station database, so the driver can simply select the one closest to their route and navigate to it. Whether they’re passing through on a trip or live nearby, you can attract their business.
EXISTING CUSTOMERS WHO MAY TRANSITION TO AN EV IN THE FUTURE.
Maybe another loyal customer has been toying with the idea of switching to an electric vehicle. They might see your charging station when they fill up with fuel and know they can continue patronizing your business in the future. If you have a charger, they can keep you a part of their routine in a slightly different way.
WHAT ARE THE BENEFITS OF EV CHARGING STATIONS FOR A BUSINESS?
When you install a charging station at your gas station or grocery store, you aren’t changing your business model or neglecting your fuel customers – they will still get the same experience they’ve come to count on without any fundamental changes. We aren’t talking about tearing down your fuel pumps, after all! However, there are benefits for you as a business owner, such as:
1. INCREASED FOOT TRAFFIC.
Electric vehicle charging isn’t as quick as filling a gas tank. Depending on the type of charger, it can take several hours for a car to charge completely. Though most drivers are only looking to top off their charge, it can still take up to 30 minutes to gain another 100 miles of range.
What does that mean for you and your business? That they need something to do! While they may sit in their vehicle and read or scroll social media, there’s a good chance they’ll walk inside your store and browse or make a purchase.
2. ADDITIONAL PROFIT.
Much like fuel, EV chargers aren’t free! If you install an EV charger on your business property, you can tap an additional revenue stream that doesn’t require the same attention as fuel. You can diversify your revenue by participating in a growing industry with no signs of going away or slowing down.
3. CUSTOMER LOYALTY.
Your fuel customers are likely made up of two types: one-time visitors passing through the area and loyal customers visiting regularly. Installing an EV charging station at your business allows you to tap into a whole new set of customers! It positions your business as a modern, eco-friendly establishment, aligning with evolving values and sustainability trends.
Plus, as the demand for electric vehicles rises, providing EV charging stations can attract a growing segment of environmentally-conscious customers.
4. POTENTIAL FOR SUBSIDIES/TAX BREAKS.
In some cities and states, the government offers grants and incentives for business owners who embrace alternative energy opportunities, such as using solar panels and offering electric charging stations. Check with your local government to see if you qualify.
5. STAY AHEAD OF YOUR COMPETITION.
Being an early adopter of new technology always has risks. However, one benefit is clear: you can stay ahead of your local competitors! By installing electric vehicle charging stations at your business, you can quickly become the go-to spot for EV drivers.
If your competitors don’t have electric vehicle chargers, they will miss out on the additional business (and potential revenue) that you’re drawing. That could mean you gain a competitive advantage in a quickly growing market.
TURN TO VENTURE FUELS FOR YOUR FUEL NEEDS
Just because you’re adding an EV charging station to your business doesn’t mean you should slack on your fuel offerings. With Venture Fuels as your supplier, you can feel confident knowing you’ll always have enough fuel when you need it at the best prices possible. Learn more.