First , determine the size of your market. Perhaps you shouldn’t niche at all because its size is small. a “Ferrari Car Service” in a small town , since there may not be a single Ferrari there. On the other hand, “Volkswagen Car Service” could very well be a good niche.
The second thing to pay attention to is
The cost of entering the market. You can only trade in expensive Swiss watches – this is a good niche, but the cost of entering this niche requires serious investment in the product.
The third thing to look at is how the market
Will perceive you. Perhaps switzerland telegram data you are the only one in your city who will open a natural cosmetics store, but your sales may be poor only because you have a reputation as a slob or you are also a shareholder in a petrochemical plant, which will allow you to be caught in hypocrisy.
Or you simply do not have the necessary connections. This is especially important when niche market is in premium segments, where almost everything depends on connections.
Fourth – understanding the market
It is very important, if you are niched in a narrow part of the market, to understand the needs of people. It is not enough to say:
“I only teach driving to people over 40” . If you work with them as with 18-year-olds, then your china leads niche will quickly die. It is important to understand the needs of these people and their attitude to the learning process.
Fifthly, it is very important that the niche reaction is fast. That is, if you go into a new niche, then sales should start quite quickly. It often happens that you go into a market where the decision to buy can take years.
For example, gas pipeline installation services
All approvals will take quite a long time, and this is time for which no one pays you. Try to go into markets where the decision-making time is what happens on twitter stays on twitter ideally instantaneous. This will allow you to earn money quickly, and also quickly change the niche if it does not bring money for a long time.