Operating in a niche market can give a small business a higher probability of success and an edge in the marketplace. Having a niche makes it easier to identify exactly what to sell and gives you greater visibility among your target market.
To find your niche in a crowded marketplace, consider your expertise. With a background in culinary arts, for example, you may find greater success selling imported bakeware than general cookware and utensils.
Observing your competitors can also help you identify a niche for your small business. Nobody’s business is perfect, so you may find a niche among the gaps in your competitors’ product and service offerings.