How to Start a Niche Business
Targeting your Niche Customers:
Starting a niche business is easier today than ever before. Opening a specialty shop in your community could
be disastrous. Opening one in the global community could be highly profitable.
There are thousands of niches to choose from. If you have yet to decide what products you would like to sell
or services you would like to offer, here are few things to think about.
People love their hobbies and they will spend lots of money on them. When an item they need to participate in
their chosen hobby is hard to find, they will pay practically anything for it.
Choosing a more obscure hobby to cater to could actually mean more profits. You will have less competition,
at least at first. So, you can charge more.
Some of the more unique hobbies include geo-caching, which makes use of a GPS device, and war or battle
re-enactments, which requires participants to dress in period costumes and carry the appropriate
Some of the more popular hobbies have specific niches within them that could become a target market. For
example, gardening is a popular hobby. A couple of niches within that broad topic include growing orchids and
creating raised gardens for growing your own food.
People also love their pets. You can easily start a pet-oriented niche business. In the offline world,
doggie day care centers and dog washes have been very successful.
A few companies have been successful in marketing specialty pet foods, such as the bones and raw food or BARF diet
for dogs. There are even organic and all natural pet foods to choose from.
Pet niches include different animals; cats, dogs, birds, fish, reptiles, etc. To narrow it down even further,
you could focus on specific dog breeds or specific types of fish.
Another thing that people love is their kids. You can easily create a niche business out of unique items for
kids. Examples include educational toys and clothing made from organic materials.
You can also appeal to a parent’s desire to protect or provide for their children. Life insurance companies
do it all of the time.
If you really can’t decide what kind of products you would like to sell, you can always choose affiliate
marketing. Affiliate marketers make commissions by suggesting products to their website visitors.
There’s no inventory to keep and no items to ship.
In many ways, a niche business has a better chance for success than one with mass appeal. You can easily
branch out into other niches as the years go by.