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Your Questions About New Market Niches

James asks…

Are niche markets $$$?

I own an office building and have enough money to start a business in my city of 1,000,000.

I have a business idea thats somewhat similar to a “pawn shop for businesses (cant let you have my business idea)”

And no one else is doing it.

Are niche markets $$$?

New Niche Finder answers:

I would first check to see if this niche has enough supply, as in, is it saturated already, before I start a new business. Best place to check on that is www.TheInternetTimeMachine.com . They study what people are searching for world wide and how much supply is out there for those ideas.

Daniel asks…

How to find your niche market?

They say it’s all about selling information. Health, I heard, is a major market these days.

What says you?

New Niche Finder answers:

There aren’t any Niche markets where I live.

There are Farmer’s Markets, and Grocery Markets. I’m going to be a bagger for my summer job. :)

David asks…

what is niche marketing?

New Niche Finder answers:

A niche market is a focused targetable portion (subset) of a market.

By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. A niche market may be thought of as a narrowly defined group of potential customers.

A distinct niche market usually evolves when a potential demand for a product or service is not met by any supply, or when a new demand arises due to changes in society, technology, or the general environment.

Niche market ventures may become profitable even though they are by nature small in comparison to the mainstream marketplace, or monopoly. Due to the benefits of specialization and focus on small identifiable market segments; even without the benefit of economy of scale. Niche markets may be ignored or discounted by large businesses due to what they consider to be small potential; this in turn is part of the process that makes the niche market available to smaller businesses. The key to capitalizing on a niche market is to find or develop a market niche that has customers who are accessible, that is growing fast enough, and that is not owned by one established vendor already.

Also taken from wikipedia

Charles asks…

what is niche marketing?

New Niche Finder answers:

“Niche” means a small portion of total buyers. Therefore niche marketing means marketing done keeping a small portion of total buyers in mind. For example, if a company launches a product for left-handed boys, it can be called a niche product.

Mandy asks…

Why should a start up business try to identify a Niche market?

New Niche Finder answers:

It is the small market that there is no competitor looking right now and we focus in that market first… Like a niche market. Start from small market makes us start with stability.

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