Smart Home Camera Business

2 Smart Home Camera Business Success Stories [2024]

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Updated: July 23rd, 2024

Consumers use smart home cameras to capture video of or around their homes. This can be done remotely via a smartphone. It can also be used for security purposes.

Starting a home camera business will require some investment, such as equipment, software, and other R&D costs.

The smart home camera market is on fire. The worldwide wireless home security cameras systems market size is projected to reach $18B by 2030. There's a new, exciting, and fast-growing business opportunity.

In this list, you'll find real-world smart home camera business success stories and very profitable examples of starting a smart home camera business that makes money.

1. Wyze Cam ($12M/year)

Yun Zhang and his team at Wyze Labs, all former Amazon employees, identified the lack of affordable and user-friendly smart home products in the market. With their extensive knowledge of retail operations, they decided to create Wyze, offering high-quality smart home cameras and other products at disruptive prices. Since their launch in 2017, they have sold over 300,000 units and have fostered a thriving user community.

How much money it makes: $12M/year
How many people on the team: 30

Going Viral And Selling 300,000 Cameras In 6 Months

Wyze Labs' CEO and founding members, who met while working at Amazon, have successfully launched their first product, a smart home camera, in October 2017, selling over 300k units within the first six months, using a direct-to-consumer low margin, high volume model along with their strong relationships with suppliers in China.

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2. SFKshop ($216K/year)

Nick Sfikas, the 21-year-old founder of SFKshop, came up with the idea for his eCommerce store when he saw an opportunity to help his dad transition from his outside job as a garage door installer to a more comfortable job. With his background in web development and digital marketing, Nick saw the potential for a 7-figure business selling smart home appliances and garage door motors online. Despite facing challenges in the first 6 months, SFKshop is now turning over $17,000 a month and has plans to expand its product range and increase its marketing efforts in 2021.

How much money it makes: $216K/year
How much did it cost to start: $1.5K
How many people on the team: 3

How I Started A $18K/Month Smart Home Appliances Online Store

A 21-year-old student from Athens who runs an eCommerce store selling garage door motors in Greece has managed to achieve a turnover of $17,000 a month despite being only 6 months old, which he hopes to boost through increased growth of garage door accessories under his own brand.

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