How to Build a Profitable EV Charger Business

he electric vehicle (EV) market has reached a tipping point, with analysts predicting the industry will be worth more than $350 billion by 2028. As more consumers opt for electric vehicles, they will need greater access to electric vehicle chargers to make commuting, grocery running or road trips as convenient as using a gasoline-powered vehicle. That demand is fueling a similar boom in the electric vehicle charging market, which is expected to reach nearly $120 billion by 2028.

Now is the perfect time to enter this exciting new market and start your own EV charger business or add EV charging services to an existing business. By offering EV charging services, you're tapping into a rapidly growing market while helping to transition to a greener future. This article outlines what you need—from choosing your business model to selecting the right software and hardware—to succeed in your first 100 days and beyond.

Step 1: Determine your EV charger business model and start with a vertical

Before you can buy the hardware and software you need to start reselling EV charging solutions or build your own EV charging network, you need to identify a business model that will generate sustainable profits.

It's important to decide early on how your business will generate revenue. Will you own and operate EV charging stations and charge each driver per kWh, like gas stations charge per gallon? Or will you provide turnkey services to local businesses looking to operate their own chargers? There's no wrong answer here, but your choice may depend on where you can install your charging station and who you plan to work with.

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