Why niche businesses are on the rise
Updated: Feb 8, 2019
How does a new brand get heard amidst all the clutter? The answer today is made obvious by the implosion of businesses with very little investment that are catering more and more to specialised needs and requirements of people.
The word 'niche' has been misunderstood over the years mistaking it for small-scale businesses. But new online home-grown business cropping every alternate day state otherwise. The really successful ones garner a neat profit of about 40% of their revenue.
Apart from decent profits another good reason is the direct access to targeted potential customers through online channels discarding the usual middlemen games...more to be discussed in another blog post.
With the onset of thousands of very useful applications and widgets niche business owners are able to create and manage a number crucial business processes with very few number of man power...making it yet another big advantage for them.