SaaS IoT opportunity (for me, not selling you anything), want some advice , criticism, or feedback.

I have an opportunity to get into a SaaS IoT "startup". It's in a space that has a lot of competition, but the financial barrier to entry is low and it is a monthly subscription model. Even a low customer sign up rate (say 10/month) and low churn can generate a moderate six digit return ON PAPER. What am I not thinking about? It's not my first business, so I have all of the 'basics' covered. Sometimes though it's those basics that sink you. Brainstorm with me here. TIA

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