The world of mobility and transportation is swiftly shifting to electric as advancements in electric vehicle technology make it more accessible. Government policies also offer incentives for businesses and for EV drivers to make the switch. This in turn creates a demand for more charging stations, which is where you come in. If you want to learn how to start an EV charging and management business, keep reading.
Whether you run a parking lot, a hotel, manage a building or property, run an electrical business, or want to fully focus on EV charging, you can become a CPO and manage and monetize your own charging network. This guide will help you understand which steps you need to take.
Research the Industry
The EV industry is growing and evolving quickly. If you want to get into the industry, you’ll need to know everything you can about market trends, technological advancements, and regulatory frameworks specific to your region.
Build Your Business Model
If you already own or run a property such as a parking lot, you’ll be adding a new revenue stream to your business. This means that you’ll own your EV charging operation and manage it from choosing which charging stations to install, managing the business, and providing support and logistics services. Though this requires significant up front investment, it will provide your business with high returns.
If you don’t already own or run a property and want to start your EV charging business from scratch, you’ll be in charge of reselling or installing charging stations and of running the electrical charging network for the companies, hotels, properties, or businesses you sell to. This can be done with a revenue sharing program in which you receive a percentage of the company’s EV charging revenue. You can also charge a monthly service and maintenance fee covering support and EV charging management.
Find a Solution for Your Business
Once you’ve decided on what kind of business you want to run, you will need to get three things: charging stations, an OCPP management platform, and a payment solution. The most convenient way to go is to find one company that can offer all three of these solutions, such as Nayax. This will make your experience more seamless and will help you cut costs.
When picking your charging station, you’ll want to consider the environment they’ll be placed in. A public parking station or commercial area will need high-powered DC fast chargers with an embedded open payment system. For charging stations located in homes or workplaces, however, slower AC charging stations will do the trick.
Once you’ve found your solutions and decided on your business model, you’ll want to become an expert on local regulations and your customers’ needs. In turn, you’ll need to secure the permits and licenses necessary for you to operate your business. This may involve applying for electrical permits, construction permits, and any other permits mandated by local authorities or utility companies.
Find Locations for Your Charging Stations
Now, you’re ready to find suitable locations for your charging stations. If you’re not going to install charging stations directly at your property or regular place of business, you’ll want to take certain factors into account such as high-traffic areas, availability of parking spaces, and local regulations. Try to find out how much demand there is for charging infrastructure in those areas so that you can ensure a viable customer base.
Install Your Charging Stations
Once you’ve purchased your EV charging stations, you need to install them at your locations. You should make sure that you work together with an electrician to avoid any problems with the installation.
After you install your chargers, you’ll want to set up a maintenance plan to ensure that they’re always working properly. An OCPP management platform with real-time alerts such as Nayax’s EV Meter Core will help you do just this. You’ll be able to stay on top of your business anytime, anywhere, and be the first to know if something isn’t working properly.
Create Your Offer
Now, you’re ready to go! All you need to do is create an attractive offer and make sure that you communicate it to your potential consumers. Use online advertising, social media, and word-of-mouth to get the word out, and partner with your location so that they can help you advertise. Make sure you highlight the benefits of EVs and educate potential users about why your charging services are worthwhile for them.
Becoming a CPO can be a rewarding business opportunity. The demand for electric vehicle charging and infrastructure is rapidly growing, and CPOs are therefore needed to provide a convenient and reliable charging experience for EV drivers. Once you’ve done some background research, you can be ready to go to market in a very short amount of time, especially with an all-in-one solution such as EV Meter.
If you’re ready to become a CPO, contact us today to get started.