- Odd Night
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- 💡 Smart Homes
With the increasing demand for smart home technology, there's a significant opportunity to start a business in smart home installation services.
As more people seek to upgrade their homes with the latest in smart technology, providing a service to install and set up these devices can be highly lucrative.
Today’s Drop 💼
🏡 The Future of Homes
🍿 The Big Picture:
The smart home market is booming, with the global smart home market size expected to reach $135.3 billion by 2025. |
This growth is driven by the rising adoption of Internet of Things (IoT) devices, advancements in wireless communication technologies, and the increasing need for energy-efficient solutions.
🛠 The Idea:
Start a smart home installation service.
This business involves setting up and integrating smart home devices like smart thermostats, security cameras, lighting systems, doorbells, and voice assistants.
Your role will be to ensure these devices are properly installed and connected, providing a seamless smart home experience for your clients.
🔥 Is the Market Hot?
The smart home market is expected to grow at a CAGR of 25.3% from 2021 to 2025.
The increasing trend of remote working has driven the demand for smart home office setups, making this the perfect time to jump into the market.
🍞 Revenue Potential:
The potential earnings from a smart home installation business can be significant. Here's an example:
Basic Installations: Charging $100 per basic device installation.
Full Home Setup: Charging $500 - $2000 for comprehensive installations.
Monthly Maintenance Plans: Offering ongoing support and maintenance for $50/month.
A successful business can generate anywhere from $50,000 to $200,000 annually, depending on the number of clients and the range of services offered.
🎯 Conclusion:
With the rapid growth in smart home technology, now is the perfect time to start a smart home installation service.
This side hustle not only capitalizes on a booming market but also provides a valuable service that enhances the lives of your clients.
Start today, and tap into the future of home automation!
Tweet of the Day
"There are two ways to use money.
One is as a tool to live a better life.
The other is as a yardstick of success to measure yourself against other people.
The first is quiet and personal, the second is loud and performative.
It’s so obvious which leads to a happier life."… x.com/i/web/status/1…
— Michael Karnjanaprakorn (@mikekarnj)
11:12 AM • Jun 22, 2024
Odd Notes🕵️♂️
Snippets from the shadows
Open AI take back their controversial stock sale policies.
Shein confidentially signed for IPO in ealry June
Shopify grant early release on AI chatbot for merchants
That wraps up today's business, we'll meet again on the next odd night with more inside news from the family.
Have a business idea that we could feature? Hit reply and share the 411. If we ride with your plan, you'll see your name in the credits. That a deal?
Disclaimer: This newsletter is educational, not financial advice. Exercise caution and conduct personal research before making investment decisions.