Office Space Expenses

$0

$7,000

Inventory Expenses

$350

$14,750

Software Expenses

$150

$2,794

Website Costs

$13

$215

Advertising & Marketing Costs

$0

$2,450

Total Startup Costs

$513

$27,209

Buydig

buydig.com

46,113

Owl Labs

owllabs.com

75,096

MyQ

myq.com

197,396

Canon South Africa

canon.co.za

222,642

Lollipop

lollipop.camera

278,378

Kami

kamihome.com

382,019

WaBa Grill

wabagrill.com

388,996

Camlytics: Smart Camera Monitoring Software

camlytics.com

456,224

AVer USA

averusa.com

465,865

Kintronics

kintronics.com

505,077

BagSmart

bagsmart.com

506,728

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

Little startup costs required

The cost to start a smart camera business costs significantly less money than most businesses, ranging anywhere from 12 to 27,209.

Rewarding work

Starting a smart camera business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Traffic to your website

A smart camera business gives people a reason to visit your website and to keep coming back to you!

Crowded Space

Competition is high when it comes to your smart camera business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

Finding The Right Supplier

Most businesses in this space go the supplier/manufacturer route, which isn't a bad thing! However, finding the right supplier can take a lot of time, energy and trial/error. If done properly, this process can save you months (if not years) of time and energy. More on this below in the "finding a supplier" section.

Security Issues

With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.

Lack of benefits

With a smart camera business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.

Isolation

Often times, as a smart camera business, you typically work alone and do not have much face-to-face interaction with other team members.

Taxes

As a smart camera business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.