Smart Home
Statistics:
♦ US smart home market is worth $40 million/yr by 2024 (currently 28m).
♦ 81% of buyers say they would be more likely to buy if it was going to be installed for them.
♦ 47% of millennials have smart home products in their homes.
♦ 57% of Americans say that having smart products in their house saves them about 30 minutes per day, that’s 182.5 hours a year, or roughly a week and a half.
Eufy
Eufy is ANKER's smart home product company. They have amazing quality products at aggressive prices. We have their best camera system that can handle up to 16 cameras, their floodlight and their Ring competing doorbell. All of their products are built to last and are IP67 weatherproof.
Ultraloq
Ultraloq is the leader in the smart lock field. They do all of their own hardware/app development and are security-focused. They offer locks that will not let you get locked out of your home by offering mechanical key entry, emergency charging solutions, and easy to change replaceable batteries. They do a lot of testing and R&D to make sure their products are ready for consumers.
Kasa Smart
Kasa Smart is the smart home brand of TP-Link. They have been in the smart home market since the beginning and have the best premium lighting and power products. The profit margins are lower on this brand compared to the others, but their high quality, unique products and brand recognition will make them an important addition to your smart home selection.
iView
iView is a factory-direct brand that we work with. They provide the highest profit margin of any of our smart home products. They offer entry-level solutions for light bulbs, doorbells, and outlets. There are a lot of entry-level light bulbs out there, but iView is in another league with their professional and easy to use app, compatibility with Google/Alexa assistants, and overall quality.
There is a large market need for smart home hardware installation. 81% of consumers would be more likely to purchase smart home products if they were installed for them by a professional. By charging a flat installation fee + labor costs you will be able to make additional profits for your business.
Cameras
- 1-2: $99-$129
- 3-5: $129-$159
Doorbells
- 1: $99-$149
Door Locks
- 1: $99-$149
Bulbs / Outlets
- 1: $79-$99
- 2-3: $129-$159
- 3+: $149+
Thermostats
- 1: $89-$149
- 2-3: $149-$229
Please be sure to do your own proper due diligence when it comes to the possible licenses or certifications you need to do installations. We have compiled a list of what we have found, but please consult your own legal counsel to make sure you are following local regulations.
Smart switches/wired doorbells
Electrical License: Click to see your State's requirements
Smart cameras/doorbells
Alarm set-up license: https://ipvm.com/reports/inst-license
Smart thermostats
HVAC license: https://www.next-insurance.com/blog/hvac-license-requirements/
Smart door locks
Locksmith License: https://www.popalock.com/2015/05/29/state-licensing-requirements-for-locksmiths/
We believe the smart home market is on the rise and is something consumers need face-to-face explanations for. We can help you become your local go-to spot for all smart home inquiries, so you can bring in customers for reasons outside of their phone being broken! Additionally, we would highly recommend you consider offering installation services for your customers as well.
Repair is here to stay, but it is becoming more competitive. Using smart home as an additional revenue stream will help bring new opportunities and growth to your business.
We've created a Google Drive filled with all of the information you will need to successfully launch this product in your store. It has everything from FAQs to educate your employees/customers to graphics and will be updated regularly!
Link: https://drive.google.com/drive/folders/1x3Mr7KQkPID6LOiE6Y66TWQ_2QSW2FL_?usp=sharing
