EV Charging Stations and Drive Thru Customers
Article from Fast Casual Oct 2021
Three chief benefits QSRs should be aware of if they decide to adopt electric vehicle charging are: ease and cost of deployment; revenue opportunities and brand loyalty. Arcady Sosinov, founder and CEO of FreeWire Technologies, explains how adding EV charging to your operations can be a boon.
In Brief
- Embracing EVs is a good thing
- Portray your brand as socially conscious
- Coveted affluent customers raising loyalty gradient
- 2% of vehicles now EV — 50% by 2030
- 100 miles of charge in 10 minutes
- Infrastructure to support fast charge can be challenging
- GPS and Map apps will direct customers to you
Excerpt
Ease and cost of deployment
Ultrafast chargers can cost over $100,000 to install, including the cost of local grid upgrades. In most cases, utilities need to be involved, which can complicate and add costs to the installation process. However, an independent study by the Electric Power Research Institute found EV charging companies can save operators of tens of thousands on installation. Additionally, its peak-shaving and load shifting capabilities can reduce energy fees and demand charges by $30,000 annually, lowering operating costs by 70%.
Revenue opportunities
Installing ultrafast chargers enables QSRs to attract and retain customers at minimal cost. EV charging stations appear on a national network. So when drivers need to power up, their GPS and map applications direct them to your restaurant at no cost to you. Drivers appreciate the convenience of being able to eat and power up without making two stops.
EV drivers are appealing customers since on average they make twice the national income. And they’ll be “double-dipping” at your restaurant, buying food and power for their car. The revenue potential from ultrafast charging currently equates to approximately $1 per minute.
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