How to generate recurring revenue as a charge point installer
Does the speedily growing electric vehicle charging market, which is expected to be worth over £308 Billion by 2028, sound interesting to you? And what about creating a source of recurring income to create financial security and stability? If the answer is yes for both questions, then a charge point installation business will be an attractive option for you. Here, we have outlined a few ideas on how you can take advantage and achieve your goals within the EV industry for charge point installers.
1. Regular fee for maintenance
It is very convenient and time-efficient to charge your customers a regular fee to keep an eye on their charge points – it gives them peace of mind and sets a recurrent payment for you. Unlike other traditional household appliances, electric vehicle charge points can be looked after from the comfort of your own office. For the most part, charge points can be checked up from a computer and many fixes can be done online as well.
2. Offer charge point management
By installing charge points with efficient management systems such as Monta, you can charge clients monthly to keep an eye on their changers’ functionality and efficiency, as well as seeing how much green energy they’re using and how much less CO2 they’ve produced. Clients are not only looking for someone to install the charging stations anymore, and a great way to set yourself up from competition is by offering them the management of their charge point system. This could also mean the chance to expand your business in a quick and straightforward way. Larger clients with over 10 charge points installed are usually very interested in this service.
3. Track energy usage for payment returns
Earn extra revenue by charging your clients an accessible price for a warranty and a recurring fee to offer them maintenance – this is convenient and gives them peace of mind, but it doesn’t take up a whole lot of time from you. Running maintenance on charge points is not only easy, but they also rarely need fixing. Ultimately, it is beneficial for both parties.
4. Be the owner of well located charge points
For some businesses and communities, setting up charge points is a costly affair. But if the customer’s location is within a busy area, a good option would be for you to offer to do the installation free of charge, while maintaining ownership of the charging stations. That way, your customers can pay the market price and all other EV drivers can pay a higher price for you to profit from. A win-win for you and your customers. For example let’s say you installed 4 charge points for a well located store: if you charge 30p per kWh to the public, and 6 people use each one of your charge points a day to top up their EVs by 30% (an average of 12 kWh a charge), then you could be earning about £43 a day. In a year this could add up to about £15,000.
5. Create a blog of your experience
Take advantage of your experience as one of the first people installing charge points and create content for other installers like yourself to consume. By putting interesting materials out there for others to read, watch and listen to, you can create a following that will eventually lead to brands wanting to do deals and advertise with you. With electric vehicles growing so much in popularity that within a few years essentially every household will need their own charge point, many others before you will want to join the EV business. This will take time and patience, but across the spectrum of industries, blogging is a good revenue generator. If you’re looking for inspiration, check out Artisan Electrics on YouTube and their content.
There are so many different services that installers such as yourself can effortlessly include and offer as part of their services. Not only is the demand for charge points growing, but so are the different offers that clients will be interested in. You as a charge point installer can capitalize on these and grow your business and revenue while doing so.
For more information on how Monta can help you obtain recurring revenue as a charge point installer, get in touch with our representatives here.