"Money Making In Niche Markets"
Finding a "niche" in any business can be difficult at times, yet we all know of course, that's where the money is in selling. Sometimes, those "niche markets" are right in front of us. We complicate our "selling lives" by overlooking them, trying to find "deeper secrets."
Step back from your business or one you're thinking about entering, and try to zero in on what I'll describe as the "branches of the tree." The answers may not be that far away after all.
For example, the business of printed items is monumental. When we think of "printing" we think of everything from business cards to envelopes to wedding invitations. In a business of this magnitude, your reaction might be, "yes there's great profits, but where does one even start?"
THE ANSWER IS SIMPLE!
After selling brokered printed items for many years, I thought I had a pretty good idea of where the money was - and wasn't. Especially for the "little guy," or the home entrepreneur like myself.
But as time went on, I also realized that the business itself is really "loaded" with niche markets where you can make a killing with printed products. And you don't have to be a "salesman."
PRINTING WAS THE "TREE" & HOW I DISCOVERED "ANOTHER BRANCH"
Living and working in New York City for 18 years gave me access and insight to many things that I never noticed living in other areas of the country.
And one day, a taxi driver added money to my income and he didn't even know it. Chalk this one up to "observance."
After exiting the taxi at Laguardia Airport one day, I asked for a receipt. The driver handed it to me and I made a significant observation, however small it may be to readers.
The "receipt" was printed on a business card with nothing more than the taxi company and an amount to filled in by the driver.
Boarding the plane that day, I fully realized that a monumental "niche market" was just handed to me and I had never thought about it. That's right ----- taxi receipts!
THOUSANDS OF CUSTOMERS!
Because we were already selling business cards, in addition to other items, I knew that creating a "taxi receipt" for companies was a piece of cake and that the market for them would obviously be phenomenal for one reason: customers/travelers usually need them to claim money back from their employer, and the taxi company needed to supply them. Simple "supply and demand."
Do you have any idea how many millions of cab drivers there are who need receipts on a constant basis?
The rest is history. When I returned to the Buffalo, NY area I added "taxi receipts" to our line and contacted various companies giving them discount rates. The discounts got my foot in the door for more items they needed such as envelopes, 2 part forms and stationery. As a "broker," you can usually offer lower prices than local printshops due to little or no overhead.
Money making niche markets are right in front of you. You may find yourself looking or trying to look way beyond where you need to be. You may be overlooking big, big profit potential! Examine your "product tree" closely and you're bound to find the smaller "money making branches" that linger within.