As a business owner or operator, your main goal is to maximize profits while minimizing costs. This means that you always need to be on the look out for more efficient business processes and for the newest technologies that can help you optimize your operations. With EV charging becoming more and more popular, you’ll want to maintain your market share and stay ahead of the curve in order to fight off your competition. This short guide will help you create an efficient EV charging station business model by cutting your operational costs.
1. Working with One Supplier
Finding different suppliers to work with and working out an agreement with each one can be exhausting. As an EV charging station operator, you’ll need a supplier for charging stations, a payment provider, and a management platform (CSMP) provider. But what if we told you that you can find one supplier to cover all of your needs? With Nayax, the world’s first charging solution with a built-in payment system, you can get a complete solution that will help simplify your operation, reduce your monthly fees, and provide better support to your customers because there will only be one point of contact.
2. Take Advantage of Government Incentives
Whether it be in the United States or in Europe, many countries are offering tax incentives, lower tariffs, and more in order to help build EV infrastructure more quickly and to encourage EV adoption. See what incentives are offered in your area, and make sure you take full advantage of them in order to keep your costs down.
3. Choose the Right Charging Stations
An essential part of your EV charging business plan are the charging stations you choose. Whether you require commercial charging stations that accept payments or residential charging stations for private use, you’ll want to make sure that your charging stations provide your customers with the best experience possible, encouraging them to use them more.
An open payment system is an important component to your commercial charging stations. This allows you to accept any form of cashless payment including credit cards, RFID, mobile apps, and more, increasing the likelihood that customers will choose to charge at your stations. Offering customers a seamless, convenient payment experience is essential to growing your customer base. You’ll also want to make sure that you can offer multiple charging ports, that the ports are universal and can connect with any EV, and an output power of 22kW in 3 phase grids (which you can find in the EU) and 12 kW for 1-2 phase grids (which you can find in the USA).
4. Smart Energy Management
Smart energy management should also be central to your EV charging station business model. This smart technology can help you communicate between the EV, the charger, and the grid, ensuring network stability and reducing electricity costs and even infrastructure costs as with smart energy management you might not need to increase the electricity to the site. With management software such as EV Meter Core, you can stay on top of your charging network at all times.
5. Partner with Other Businesses
Partnering with other businesses can help you spread the costs of installation and maintenance. This is a great way to get started with EV charging if you don’t have the resources to do it on your own.
6. Negotiate with Your Electrical Supplier
You may be able to negotiate a lower rate for electricity if you agree to install a certain number of charging stations. Contact your utility company to find out.
Coming up with an efficient EV charging station business plan is crucial to your business’ success. Being able to cut costs will help you maximize your profits, and one of the best ways to do this is to become more efficient. With Nayax, you have only one point of contact for all of your EV charging needs, helping you streamline your operation and reduce your costs. To get started with Nayax, contact us today.