The future of transportation is electric vehicles. More drivers are choosing to purchase EVs, and vehicle manufacturers are continuing to release new models. Most car manufacturers are pledging to have either all or most of the fleet consisting of electric by the 2030s or 2040s.

An advantage of owning an EV over an internal combustion engine (ICE) vehicle is the ability to recharge the electric battery in any place that is capable of supporting a charging station. Instead of driving to the gas station for refueling, EV owners can recharge their vehicles at home, at work, and while running errands.

As EV popularity continues to rise, the necessary charging infrastructure is still being installed. Chargers are being placed alongside major traffic corridors, but there is still a gap. Businesses can help fill the charging gap and increase their revenue streams by installing EV chargers on their properties.

While there are multiple strategies businesses can use to maximize their revenue from EV chargers, selecting the best plan typically depends on the amount of time customers spend at the location.

Businesses with customer dwell times at or less than 45 minutes will benefit from direct current fast chargers (DCFC). DC fast chargers can charge EV batteries in a shorter amount of time, ensuring the charging stations are an amenity customers want to use. If consumers typically stay around for over two hours at your location, Level 2 chargers are a good option. Slower than DCFCs, Level 2 chargers can top off EV batteries while customers are shopping or dining.

Some businesses have varying customer dwell times, installing a mix of DCFCs and Level 2 chargers can help ensure you meet everyone’s needs.

Not sure if your company can benefit from EV chargers, here’s a look at three businesses that may want to consider offering it to their customers.

EV Chargers for Restaurants

Quick-service or drive-thru restaurants may not benefit from EV chargers, but it’s different for dining establishments where customers typically spend anywhere from 30 minutes to a couple of hours.

These longer dwell times give restaurant owners the opportunity to increase revenue by installing EV chargers. Some customers may stay longer, ordering extra items during the wait. Others may spend the same amount of time, but the charging stations are still bringing in additional revenue.

Restaurant owners worried about losing money due to longer table turnover times, typically find checks for these consumers are larger on average. The larger checks can also translate into bigger tips for your serving staff.

Businesses can choose to incorporate the charging fee into the customer’s check or have them pay at the station.

EV Chargers for Shopping Centers

Not all shopping centers are the same. Some have brand name anchors and others are strip malls. Shopping centers where visitors tend to only spend a few minutes may not benefit from EV charging stations. Property owners receive their revenue from rent, and businesses located in these centers typically do not have the authority to install EV chargers.

It is different for malls and other large shopping centers where consumers often spend an hour or more. Installing Level 2 chargers and DCFCs can turn into a steady revenue stream.

The size of the parking lot, along with the number of visitors driving EVs will give shopping center owners and managers an idea of how many EV chargers to install. Dwell times are something else to consider.

For example, If 40% of customers spend less than an hour at the mall and the other 60% spend over an hour there, 40% of the chargers should be DCFCs and 60% should be Level 2 units. If a large shopping center has 10,000 parking spots, 500 should have EV chargers, and of those 500, 200 should be DCFCs and 300 should be L2 chargers.

EV Chargers for Medical Facilities

Medical facilities of all types can benefit from offering EV charging. Multi-use sites, surgery buildings, and preventative offices are a few examples.

Patients typically spend a significant amount of time at medical facilities, and offering EV charging can increase revenue.

Immediate and preventative care offices typically have shorter patient dwell times, around an hour or so. DC fast chargers are a good option for these types of medical facilities. Surgical centers can install Level 2 chargers. Patients tend to stay for several hours. Providing EV charging allows patients to charge their vehicles while they are receiving care.

A primary difference between medical facilities and restaurants is dwell times tend to be similar for most patients. It means medical facility owners do not need to worry about installing various types of EV chargers. The revenue stream is the same whether you only offer Level 2 or DC fast charging.

Talk to Us About Your Next Steps

The number of electric vehicles on the road will continue to grow, so it makes sense for business owners to get ahead of the curve. EV charger technology is also advancing, giving business owners more options on what will best suit their customers.

Installing EV chargers can be challenging, and there are upfront costs to consider. Some business owners worry about when they will start seeing ROI.

We can help explain the ins and outs of offering EV charging at your business. Whether you are not sure if it will bring in an extra revenue stream or have concerns about installation, we can help. Contact us today to learn more about the benefits of offering EV charging at your business.

To speak with an Apogee Charging Solutions expert about EV charging for your business, call 484-816-2076, email [email protected], or you can schedule a call that fits your needs by clicking the button below.