The automobile industry is on course to go electric. Big names like Volkswagon, Mazda, Ford, and General Motors (GM) have committed to at least partial conversion by 2030. An electric version of the Silverado is due in the next year. Bentley’s first electric vehicle, an SUV, is expected in 2025 while BMW and GM have products either headed to market or landed right now.
As electric vehicles continue to gain popularity in the US, convenience stores are installing EV charging stations to attract new customers. But simply offering EV charging is not enough to maximize profits. Savvy convenience store owners should consider pairing EV chargers with air/vac machines to keep customers busy – and spending money in the store – during the 30-45 minutes it takes to recharge an EV.
Why convenience stores are installing EV charging stations.
There are over 1 million EVs on US roads today, and that number is forecast to grow exponentially over the next decade. More importantly, EV drivers need to recharge when out and about and, just like with fuel-based vehicles, convenience stores are the most logical places to install high-speed charging stations to meet that need.
But, despite growing consumer adoption, the number of new charging points is not keeping up with demand. New charging points increased a minuscule 12% last year, and several states with rapidly growing EV numbers are failing to meet consumer demand. Arizona has only 6.5 charging stations per 100 EVs, New Jersey has 5.6, and Oregon has only 4. Yet all three rank in the top 10 states with the MOST EV cars – along with Utah, Vermont, Colorado, and Hawaii.
The opportunity to place EV chargers and attract new customers is something convenience stores should seriously consider. After all, providing this amenity brings EV owners onto and into convenience store properties for a 30-45-minute charging session, during which time they can shop inside the store, vacuum out their car, or fill their tires.
How long does EV charging take?
Most public DC fast charging stations installed at convenience stores offer 50-150kW charging, which can provide an 80% charge in around half an hour. This gives EV drivers ample time to go inside the store, browse, and make purchases. The fastest charging options, Tesla Superchargers, offer up to 250kW for even faster charging but still take a minimum of 15 minutes. That’s over 5 times the time of the average gas pump interaction!
Why should convenience stores pair EV charging stations with Air/Vac?
To maximize revenue from EV drivers, convenience stores should install air/vac machines adjacent to their charging stations. Because, while EVs don’t need oil changes or gasoline, they still need to be cleaned up and have their tires filled. Studies show car owners are 3-4 times more likely to use air/vac machines when charging electric vehicles than when refueling gas cars. Offering easy access to these services while the vehicle charges gives customers a way to stay busy and productive – and a convenient, affordable way to perform basic car maintenance.
Consumer air/vac use typically runs from $1-$3 for every 3-5 minutes. If just 10 customers use the one air/vac machine during a busy day, that could mean an extra $30 or more in revenue. Over the course of a month air and vacuum usage can generate a hefty sum in additional profits.
Revolution Air by Cash Depot offers purchase, service, rental, and placement programs tailored for convenience stores with EV charging stations. Our programs provide everything needed to offer air/vac including machines, maintenance, processing, and day-to-day operations. Placement and rental offerings save store owners from any upfront costs or maintenance hassles. And, to help appeal to current EV owners and other non-cash consumers, we have credit card payment options.
Convenience stores that strategically install EV charging stations combined with ancillary services like air/vac can benefit from this growing market. As more drivers go electric, stores that cater to their needs during charging stops will earn their continued loyalty and business.
TLDR: Convenience stores can turn a profit from EV charging stations - if they add air/vac.
