EV Charging Station Franchise Cost

Electric vehicles (EVs) are the future of the car industry as countries move away from traditional petrol and diesel engines to combat climate change. It’s a global change that companies across almost every industry can get involved with.

 Investing in an  EV charging station franchise can increase brand awareness and attract new customers to your business, whether you’re a hotel, restaurant, or leisure facility. It’s a way to improve your company’s environmental sustainability and diversify your revenue streams.

 We’re breaking down everything you need to know about the costs of an EV charging station franchise, including the future of the EV industry.

What is an EV Charging Station Franchise?

An EV charging station franchise is a service businesses and property owners can utilize to install EV chargers for customers and employees. These EV charger companies oversee the installation process and provide everything you need. Most EV charging station franchisees can be found in high-traffic areas or directly attached to a commercial property to attract customers.

3 Types of EV Charging Station in the USA

There are three common types of EV chargers, designed to meet the different needs of customers, from residential overnight charging to fast charging.

  • Level 1: This EV charger with 120-volt power supply and an average output of 1.3 kW to 2.4 kW, converting to a 5km travel distance for each hour of charging.
  • Level 2: This EV charger has a 240-volt power supply and is the most popular. Its range varies from 12 to 80 miles for each hour of charging. These versatile EV chargers are commonly installed in commercial properties.
  • DC Fast Charging: This EV charger has a 480-volt power supply and provides a range of 60 to 100 miles in just 20 minutes. These EV chargers are typically found in cities or near major infrastructure.

EV Sales, Proportion, and Growing Trends in America

As consumers become more environmentally aware, electric vehicle sales continue to skyrocket. EV sales more than doubled in 2021 to 16.5 million. The growth of EVs shows no sign of slowing down, with EVs forecasted to account for almost 70% of light vehicle sales by 2035. It means there’s a growing need for more public charging facilities.

 In 2021, there were 1.8 million charging points, with a third being fast chargers. The United States is embracing the potential of EVs to lower running costs and reduce carbon emissions.

Quantity of Charging Stations in the USA

Less than 10% of the US population have a public charging station within 10k km of their home. Investing in an EV charging station franchise could offer your business a lucrative revenue stream and a way to boost profits.

 The cost of using charging stations varies depending on location and charger types. Commercial charging is typically more expensive than at-home charging. Companies can set their own cost for EV charging, typically using per-session costs that factor in a set cost per kWh.

Future Development of Charging Stations in the USA

The EV industry is experiencing turbo-growth as consumers continue to switch to EVs. However, there’s a disproportional lack of EV charging stations.

 Entrepreneurs and businesses who enter the industry now have the potential to capitalize on this market gap. Installing an EV charging station on your commercial property will allow your organization to boost its ESG standards.

 Customers who use your EV charging station are likely to become frequent visitors, expanding your base of returning customers. The long-term demand for EV chargers will only increase as electric vehicles become the norm across society.

How to Profit from EV Charging Stations in America

Investing in an EV charging station franchise allows your company to diversify its revenue streams. It can also have a knock-on effect in boosting your sales and enhancing the visibility of your business.

 Your company can also profit directly from the EV charging facility through charging fees. You can charge customers for using a parking and remaining there are the charging session has ended.

How to Setup a EV Charging Station in the USA

Working with an EV charging station franchise is the easiest way to enter the industry. We’re breaking down the setup process into five easy steps.

 

  1. Choose your EV charging location: Find a convenient location to place your EV charging facility. Ideally, it should be positioned in an area easy to spot and near your existing parking structure.
  2. Select your EV charging company: Do your research and choose an EV charging company that offers durable, reliable, and high-quality chargers. Choose a type of EV charger that works for your customers, either a Level 2 or a fast charger. You should get quotes from at least three EV charging companies and information about their warranties and installation process.
  3. Install your EV chargers: The EV charging franchise should oversee the installation process, usually starting with a site evaluation. You may need to make changes to your property to ensure it is accessible and suitable for an EV charging station.
  4. Market your EV charging station: Start promoting your EV charging station on social media and in your local community to raise awareness and engage with new customers.You might offer your EV chargers for free for a limited time as a promotion when you first install your charging station.
  5. Implement risk management: Mitigate risks by regularly checking for wear and tear to reduce the potential for electric shocks. Your EV charging station should undergo regular maintenance to ensure it is safe for public use.

 

EV Charging Station Franchise Cost in the United States

Expand your company’s revenue streams and tap into the sustainable energy market by investing in an EV charging station. Working with a franchise is the most accessible way to install EV chargers.

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