Finding Your Niche Market

Have you ever found a product and said “Yes this is it”?  You finally found it, THE product.   This is the product that you've found that finally makes you money. This is called the niche market. A niche market focuses on a specific product. It features a specific product that targets to sustaining a specific market’s needs.   It is impacted by price range, production quality and demographics, and it usually applies to a small market division. An example would be a party supply store, while everybody throws parties, there are not usually a lot of those type stores around and they don’t supply products that consumers have to have all the time.

What are the Benefits from Niche Marketing?

By now you’re asking, well how can I benefit from niche marketing?  You are in for a treat my friend, finding your niche market, will be the key to help your business be successful.  If you’re a retailer who buys items and then resells them, then you need to find a niche market.  You need to find that one market that brings in the money at a low cost to you but has high profit turn around.

Finding a niche is a lot easier than you think.  First, you need to find something that you like. It is so much easier to sell something that you’re enthusiastic and passionate about, but with that said you have to appeal to the market. What can you supply that is new or captivating?  It doesn't have to be a new product, but it definitely has to be a captivating item.

Examples of Niche Markets

The concept of niche marketing can be confusing.  Niches can be very pin-pointed, but very broad.   I know, get the good part right?

Seasonal/Holiday Products:  Did you know that Halloween is one of the perfect niche markets. I know right who would have thought. Costumes are huge re-sellers  People look for costumes all year long. Consumers look for costumes for plays, musicals, birthday parties, fetish role play, and a whole handful of special events. But they aren't always easy to find. You can’t just walk into any store and find one. They are usually only available during the Halloween season. So when it’s not Halloween, customers start looking online.

Places to find costumes for resale: Garage Sales, Thrift Stores, and of course retail stores that supply costumes at clearance after Halloween.

Entertainment Memorabilia: We all know memorabilia can be sold, but there are so many different types of memorabilia that I hate to only introduce one, but I’ll do it anyway. Movie memorabilia is the most popular.  We all remember the Star Wars craze, how could anyone forget. But it’s still the most popular movie memorabilia out there, especially the vintage items. Other popular memorabilia movies include Back to the Future, E.T., Harry Potter, Lord of the Rings, Indiana Jones, The Twilight Saga movie series, Pirates of the Caribbean, The Wizard Of Oz, Forrest Gump, Ghost Busters, Spider Man, and more.

Vintage television series memorabilia are really, really big sellers too. But there are really so many other types of memorabilia that sell very well too.  Look for items that are rare and hard to find.

Places to find memorabilia: Garage Sales, Thrift Stores, Second Hand Stores, Estate Sales, Flea Markets and of course buying clearance items at local stores.                                                                                                         

Once you find a niche market you want to sell to, starts looking for items to sell everywhere you go.   These are just a couple of ideas for finding your niche market.  There are endless ideas, and here a couple more.

Vintage Items, (that includes character tees, toys, TV’s, radio/stereo equipment, and more)

• Golf Balls

• Art Cigar Boxes
• Movie Props
• Hand Made Dolls/Clothes
• Hand Made Quilt

Taking on a new niche can be a low-risk way to grow your business. When you find yours, you’ll be screaming “Yes, this is it”!