How To Start EV Charging Stations Business 2023

How to start EV charging stations business 2023

Table of Contents

In order to introduce an Electric Charging Station, which may also be called an EV Charging Station and also as EVSE (Electric Vehicle Supply Equipment) such as Electric Recharging Point, Charging Point, Charge Point, it is an infrastructure which is responsible for the supply of Electric Vehicles. Able to supply good electrical energy for recharging.

According to IHS Automotive, the global production market for pure electric vehicles and plug-in hybrid electric Surrey (PHEV) vehicles is expected to grow significantly between 2014 and 2020. The global EV charger (EVC) market is estimated to grow from around 1 million plus units. Which has exceeded more than 12.7 million units in the year 2014 and up to 12.7 million in the year 2020.

According to the report, it is found that the deployment of charging stations is highly variable depending on the price range itself. Which can range from around $395 USD for a simple, homely wall box to over $35,000 USD for a DC charging station. All this figure almost excludes its installation which in the same case DC charging station could add up to $10,000 depending on its location and accessibility.

What to do to start an electric charging station business

1. Conduct market research

If you are also thinking of starting an electric charging station, then you will also need good reliable market research and research to get the most out of this business. While the first step in the process of market research is to develop market research questions in line with your overall business goal and objective.

a. What is the target market for EV charging stations?

The target and good market for EV charging stations are those that have all the electric cars and bikes available and are in the vicinity of where your electric charging station is going to be.

b. Can Electric Charging Stations Become a Profitable Business?

This question is arising in everyone’s mind whether the business of electric charging stations is profitable or not, otherwise, the answer is “yes”, it is a profitable business. As can be ascertained from the available data, an average electric charging station can make up to about $240,000 (USD) gross per year. Because the industry is going to be highly profitable.

For example, to support an electric vehicle stock of up to 26 million within the United States in 2030 as well, the year after increasing the best public and workplace charging from approximately 216,000 chargers in the year 2020. By 2030, this will need to be increased to 2.4 million, of which up to 1.3 million are to be provided at workplaces and 900,000 to the public level, and 180,000 to direct current fast chargers.

c. What are the current niches in the industry?

No, whenever we talk about Electric Charging Station, there is no existing mark in it because Electric Charging Station is considered a concept of the Automotive Industry.

d. Who has been made the major competitor?

Competitor of Electric Charging Station:

1. ChargePoint

2. oysters

3. bp

4. Hyundai

5. ROWE

6. Siemens

7. EV box

8. Blink

According to the above, everyone is considered a competitor of the electric charging station.

e. Is there a county or state regulation or zoning law for electric charging stations?

For now, there are no county or state regulations or zoning laws for electric charging stations, but yes from industry players. It is also expected to work with existing rules governing similar businesses as well as the county where its entire business is domiciled.

2. Choose a Memorable Business Name

Let us know that in your quest to start a business before you start filing the necessary documents with the constituted authorities, you should start a good website, which we need right now.

Maybe you can also come up with a name that can be used to identify you too. It is essential that any name you come up with is easy to pronounce, unique, and easily memorable.

3. Register Your Business

a. What type of business structure might be best for an electric charging station?

Even though there are many options such as sole proprietorship and partnership, limited liability company (LLC), and corporation, when it comes to structuring an electric charging station business, most players consider that they are an LLC…

It’s common to consider an LLC but, providers want to protect themselves from lawsuits. Then please note that this LLC is going to require an EIN and if it also has employees, it will need to have an EIN if it has any of the ones listed below. The form on Excise Tax will be required to be filed. Most new single-member LLCs classified as disregarded entities will only need to obtain an EIN.

b. What type of certification is required to start an electric charging station?

If you want to start an electric charging station, you may not need any certification for that.

c. Do you need a trademark, copyright, or patent?

If you are also thinking of starting an electric charging station, then usually you may not even need to file intellectual property protection or trademark. Because the whole nature of the business makes it possible for your company to run successfully and without any reason to challenge anyone in court by illegally using the intellectual property of your company

4. Cost Analysis and Budgeting

Approximately how much does it cost to start an electric charging station?

The startup of an electric charging station is not going to be nearly the same. Factors such as the commercial number of the charging plug, the size and brand and model of the charging plug, and other related service offerings are going to be almost influencing you to start your own. But basically, even an electric charging station can cost anywhere from $200,000 to $600,000 to start up and can easily be more depending on all your business goals and objectives.

The cost of a single port EVSE unit can range from around $300 to $1,500 for Level 1 only, up to $400 to $6,500 for Level 2, and $10,000 to $40,000 for Level 1 with DC fast charging. With him during the ballpark cost range of up to $0-$3,000, his installation price of $600-$12,700 for Level 2 and up to $4,000-$51,000 for DC fast charging varies greatly from site to site.

B. Do you also need to create a feature?

It is not necessary to build a new facility for the electric charging station you have, but if you have the necessary finances, then it will pay you to build your own parking facility and administrative office. The fact is that any facility built or rebuilt is going to give you the opportunity to come up with a similar facility that perfectly fits all your business goals and vision.

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5. A Business Plan

Summary

According to Future Solutions, the electric charging station is an Inc. To be a fully registered and licensed electric vehicle charging station located in Los Angeles and California, U.S. I also happen to be located in a busy community. We operate on a quick-charge station (fast charging system) that is high and delivers over 40 kW and a range of over 60 miles (100 km) in under 10-30 minutes.

We have a full range of EVC stations that will be scattered within all major cities along the United States, while also adopting location-specific full service and minimal service and self-service. We are currently running a Convenience Store, Car Wash, Vulcanizing Services, Wheel Balancing Services, Wheel Alignment Services, and many other related Automobile Repairs.

6. Financial Projection

a. How much will you have to pay according to your service?

In general, most electric charging stations can charge for about an hour to charge even electric cars and bikes. While these electricity costs vary, the average cost in California is about 18 cents per kilowatt hour (kWh). At this price, even an electric car like the Nissan LEAF with a 40-kWh battery with a 150-mile range is going to cost around $7 to charge.

b.How much profit can a b.ev charging station owner make in a year?

It depends on the EV charging station, but all the reports provided suggest that on average, an electric charging station should net over $240,000 per year and that’s assuming we have stable customers. If so, the industry is just getting started.

7. Hiring Employees

When it comes to hiring all the employees for an Electric Charging Station, then you also need to have a competent Chief Executive Officer (you can occupy this position also), Admin level Human Resource Manager, and EVC Station. The overall planning for hiring managers, marketing, and sales executives (business developers) should also be done. It has an accountant, an EVC technician, and also an attendant.

8. Launch the Business Properly

Most of the electric charging stations are capable of holding a single opening party for most business start-ups who would love to open their doors. And if you are also working within a low budget or are looking for a grand opening. You can go to a party or you can do a soft opening.

The bottom line is that with the proper launch of the Electric Charging Station, you too will be able to inform as much as possible of all the people in your city that your Electric Charging Station is open for business as well.

How to start EV charging stations business 2023: USA EV charging business plan