Insights | Oct 05, 2022

The win-win benefits of EV charging for business


The win-win benefits of EV charging for business

Direct-current fast chargers (DCFC) are a hot topic these days. With EV charging technology and the needs of drivers evolving at the same fast speed, you may be wondering if charging stations are worth the investment for your business. Well, we’ve gone ahead and built your business case!

Whether you’re in retail or hospitality, or even considering offering this standout service to your office employees, one thing’s for sure: implementing EV charging stations means keeping up with the growing EV community and tapping into a much sought-after target market.

What’s in it for businesses?

1. More revenue

Whether it’s an hourly rate or one based on energy consumption, EV drivers will pay to use your charging stations – unless you choose to make it free, which can pay off in a different way. Your investment will pay off sooner than you think, with more and more people swapping their fossil fuel cars for electric ones. And with current government programs to soften the bill, it’s even more interesting. You do the math!

2. More in-store traffic

In addition to earning you extra revenue, having a charging station is a surefire way to get people inside, as Wi-Fi has done for coffee shops, restaurants and hotels over the years. It can take anywhere from 20 minutes (with a fast charger) to several hours (with a level 2 charger) to reach full battery. While their EV is filling up on electrons, drivers are likely to spend money (in fact, 92% of them do). Simple errands can easily turn into an all-out shopping spree if a mall’s parking lot is equipped with level 2 charging stations. And roadtrippers stopping to stretch their legs may order food at your diner if there’s a fast charger nearby.

3. Customer loyalty

As an essential service, charging stations are bound to keep EV owners coming back to your establishment – that is if your charging stations are reliable and provide a good charging experience. No driver wants to spend too much time looking for a place to charge their vehicle, so if your business happens to be on their way, you’ll become one of their go-to spots for a top-up.

4. Futureproofing

Regulations regarding EV charging availability in parking lots are expected, and companies are also under pressure to reduce their environmental footprint. The sooner you decide to provide this service, the longer you’ll have an edge and stand out—not just among competitors but businesses in general—as a progressive, well-equipped, EV-friendly establishment.

Are EVs for everyone? Learn more about the path towards mass EV adoption in our podcast.

5. Government funding

There are plenty of government funded programs out there to help businesses offset the costs of installing charging stations. How long they’ll run is anyone’s guess, so take advantage of grants while they’re available.

Fast chargers vs level 2 chargers

Wondering what type of EV charging station is right for your business? When it comes to chargers, there’s no one-size-fits-all product. Fast charging stations are the quickest way to charge an EV, but depending on your location, type of business, customer needs and dwell time, and other factors, investing in a level 2 charger or even a combination of the two might be the way to go.

With EVs set to become the main means of transportation and make EV charging stations a must, there’s no better time to adopt charging solutions for your business. Not sure what steps to take? You can count on the FLO team to provide you with all the information you need and guide you in your journey. Fill out our form to get started!