Whats A Niche?

The term niche means a smaller, focused section of a particular group. For example, earrings are a niche of jewelry. Clip on earrings are a niche of earrings and pearl clip on earrings are a niche of clip on earrings and so on.

You can drill down any market to a very specific niche.

If you have a business online, you maybe looking for a Niche Market to get into.

Wikipedia.com defines a Niche Market as follows:

A niche market also known as a target market is a focused, targetable portion (subset) of a market sector.

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 out of a market niche, where potential demand is not met by any supply.

Such ventures are profitable because of disinterest on the part of large businesses and/or lack of awareness on the part of other small companies. 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.

Sounds pretty good doesn’t it?