10+ Best & Profitable Smart Home Business Ideas [2023]

Looking to start a business in 2023? Check out our list of 10+ best and profitable smart home business ideas and get the jumpstart you need to make it big!
Newfoundr

By Nick Cotter
Updated Feb 07, 2024

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Hey there, future entrepreneurs! Ever dreamt of running your own profitable business right from the comfort of your home? Well, guess what? The future is here and it's brighter than ever. The year 2023 is all about smart home business ideas that are not only profitable but also incredibly enjoyable to run. So, whether you're a stay-at-home parent, a recent graduate, or simply someone looking to break free from the 9-5 grind, this article is your golden ticket to financial freedom and entrepreneurial success.

Imagine this: Waking up each day, brewing your favorite cup of coffee, and walking a few steps to your home office. No traffic, no rush, just you and your thriving business. Sounds like a dream, right? But it's a dream that's absolutely achievable with the right idea and a pinch of determination.

So buckle up, folks! We're about to dive into the world of smart home business ideas, where innovation meets profitability. We're talking about businesses that don't just earn you money, but also give you the satisfaction of being your own boss. Ready to take the plunge? Let's get started!

Home Daycare

A Home daycare is a business that offers childcare services in a private home environment. Home daycares provide an alternative to traditional daycare centers and preschools and offer parents more personalized attention for their children. This makes it a good business opportunity for people who enjoy working with children and are passionate about providing quality care.

  • Flexible hours
  • Lower overhead costs
  • Ability to customize services to suit the needs of parents
  • Opportunity to make the environment more home-like and comfortable for children
  • Opportunity to forge long-term relationships with families
image of a Home Daycare

Elderly Companion Service

A Elderly companion service provides companionship and assistance for elderly people who may struggle to look after themselves. It can include helping with housework, doing errands, grocery shopping, providing transportation and providing emotional support. This is a great business idea as it is a growing market, with more and more elderly people needing support.

  • Provide companionship and assistance for elderly people
  • Help with housework, errands, grocery shopping and transportation
  • Provide emotional support
  • Growin market
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Examples of successful businesses:

The smart home business industry is gaining more traction with the rise in demand for home automation and connected devices. The following list includes some of the most successful companies currently in this space:

  • Amazon Echo
  • Google Home Hub
  • Nest Labs
  • August Home
  • Control4
  • Philips Hue
  • IFTTT (If This Then That)
  • Brilliant Smart Home Control Solutions

Virtual Assistant

A Virtual Assistant is a highly-skilled professional that can provide business support from an offsite location. This type of service allows businesses to manage their workload more effectively and efficiently, while saving valuable time and money. The use of a Virtual Assistant would make a great business idea for many reasons, including:

  • Cost-effective and affordable
  • Access to experienced professionals
  • Highly customized services
  • Increased productivity and efficiency
  • Increased customer satisfaction
  • Ability to focus on core business activities
  • Reduced overhead costs

Personal Chef Service

A personal chef service offers clients the luxury of having an experienced chef prepare meals tailored to their tastes and dietary needs. This service can be provided at the client's home or in a restaurant setting. The benefits of this business idea are multiple:

  • Higher quality food than can typically be purchased in stores or at restaurants.
  • The ability to provide customized dishes tailored to a client's dietary preferences or allergies.
  • Opportunity to upsell additional meal-planning services, grocery shopping, meal delivery and more.
  • No need for expensive kitchen equipment and staff.
  • The potential for growth as more clients are added to the roster.

House Cleaning Business

A House Cleaning business is a business that offers services to clean homes and other residential spaces. It is an excellent business idea as it offers flexibility and mobility in terms of scheduling, pricing, and clientele. Additionally, the entry cost is relatively low and it has the potential to be highly profitable.

  • Affordable startup costs
  • Highly scalable
  • Flexible work hours
  • Potential for repeat customers
  • Offers a valuable service to customers

Home Staging

Home staging is the process of preparing a residential property for sale. It involves redesigning the interior and exterior of a home to make it more appealing to potential buyers. Home staging can help buyers visualize how they can make their own home more aesthetically pleasing and profitable. Home staging can be an effective marketing tool and can make a great business idea for entrepreneurs looking to get into the real estate game.

  • Home staging presents a property in its best light, making the listing more appealing to potential buyers.
  • It increases the property’s price, making it easier to sell quickly.
  • It helps buyers recognize the potential of a house and encourages them to put in an offer.
  • It can attract more buyers as well as higher offers.
  • Staged homes often result in fewer contingencies from potential buyers, such as requesting repairs or renovations."

Catering Service

A catering service is a business that provides food and beverage services for events or occasions. It is an ideal business opportunity because of several advantages, such as:

  • It offers flexible hours and the ability to work from anywhere
  • The overhead costs are relatively low
  • Allows you to be creative with your menu options
  • You can work with many people and develop relationships
  • Has great potential for growth in both local and global markets

Handyman Services

A Handyman service is a business where skilled tradespeople provide various repair, maintenance and improvement services within the home and outdoors. Handyman services can include things like carpentry, plumbing, electrical work, painting, building and more. By focusing on a variety of services, a handyman can offer a full-service experience for customers who need work done around the house but don't want to hire individual contractors for each job.

  • Handyman services are in demand across all types of households
  • A variety of skill sets needed to provide full service
  • Lower overhead costs and operating expenses
  • The ability to develop relationships with customers
  • The possibility to grow the business to include additional services.

Grocery Delivery Service

A Grocery delivery service is a business idea that allows customers to shop for groceries online and have them delivered to their home. It would be an especially convenient and popular option for elderly customers or individuals with busy lifestyles who don't have the time to shop in-store or those who prefer to minimize contact and errands due to health concerns. Benefits of a Grocery delivery service include:

  • Convenience – no need to take time out of your day to go to the store.
  • Time savings – you can order from your computer or mobile device in just a few clicks.
  • No need for physical cash – customers can pay for items online, with their credit or debit cards.
  • Delivery is fast and secure – items are delivered right to your door.

Blogging

Blogging is a way to post online content, usually in the form of written posts, photos, videos, or music. It is a great way to express yourself and to share knowledge with the world. Blogging can make an excellent business idea because it:

  • Enables you to reach a large audience quickly.
  • Is low-cost and easy to manage.
  • Gives you control over content production.
  • Can be used to promote your business and generate leads.
  • Provides an opportunity for customer engagement.

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We're newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.