Technologists seem to develop new solutions every few years. Some of these seem to be in desperate search for a problem, since they don’t necessarily fill a particular niche. Consumers have willingly bought into smart home automation technology because it tackles problems that people deal with every single day. Chances are you adjust your thermostat and toggle your light switches many times a week. Automatic devices handle these very real issues, thus saving people time. Companies that compete in this space stand to enjoy stability for at least the foreseeable future. Here are four reasons you’ll really want to consider investing in a smart home technology franchise that markets these products.
1. Smart Home Technology Sales Are Growing
Just about 25% of all American homeowners have some kind of smart speaker, which represents a massive segment of the market. It’s likely that a majority of owners use at least one home automation tool. Some studies claim that the market doubled in the last twelve months. While it’s difficult to judge whether or not this measurement is exactly correct, there’s no reason to believe that the market isn’t growing by leaps and bounds.
2. Franchises Are Still Affordable
In spite of this extremely rapid growth, there’s also evidence that the cost of buying a smart home franchise is still very affordable. You can make much more money off of a low-priced business opportunity than one that’s already been overbought by a huge number of Wall Street investors. Take a look at the price-per-share for any of the major Silicon Valley companies and you’ll quickly realize how little money a regular institutional investor can really make from any small fluctuation in them. Purchasing a smart home automation franchise at a relatively low price point gives you the chance to actually benefit from real growth over time.
3. Real Estate Businesses Love Them
According to one study, installing a few smart home devices can increase home values by up to 5%. When you consider that the cost of a home is measured in hundreds of thousands of dollars, that can very easily represent a five-figure price swing. Real estate agents will now sometimes encourage sellers to upgrade their existing homes with a few automation tools in order to generate additional interest when listing a home. Franchise managers who have devices on hand will find willing clients as a result.
4. Buyers Are Coming To Expect Them
This same phenomenon impacts the other side of real estate transactions as well. Many buyers expect that any home they invest their money in will come with at least some form of automation technology. Sensors can help to reduce the risk of fires by telling their owners if they sense smoke while a home is unoccupied. Likewise, automated light and plumbing fixtures can cut utility costs. All the demand for these products is putting pressure on suppliers, which means the market may very well be primed to support a number of additional franchise businesses.
If you are looking for a franchise opportunity, you should consider and research the smart home technology sector because of the many advantages it offers.
