12 {{ upvoteCount | shortNum }}
12 {{ upvoteCount | shortNum }}

Where can I find non-obvious small business niches that do fairly well?

by Delta223
11 replies
Everyone targets lawyers, dentists, etc. I'd like to target niches that are lesser known but do better than average. They don't have to be cosmetic surgeons but they should have the ability to pay for services that benefit them.
Does anyone know where I could find data that would help me ferret these niches out? A source that shows small business average profits by industry, at a fairly specific level, would be ideal.
#business #fairly #find #niches #nonobvious #small
Avatar of Unregistered
  • Profile picture of the author savidge4
    Originally Posted by Delta223 View Post

    Everyone targets lawyers, dentists, etc. I'd like to target niches that are lesser known but do better than average. They don't have to be cosmetic surgeons but they should have the ability to pay for services that benefit them.
    Does anyone know where I could find data that would help me ferret these niches out? A source that shows small business average profits by industry, at a fairly specific level, would be ideal.
    When it comes to a small business' ability to pay, profitability is not always a very good indicator. I have found time and again, many many small business' that are actually operated by someone or a group of people that have deep pockets.

    I really don't think you will ever nail down a "niche" that will fill your bill. I would suggest to try and track possible big players. Now I understand its not like you can goto the court house and say "hey I'm looking for big players" BUT... sometimes ( depending on the state you live in ) could be as easy as going to the Secretary of State's website and looking up LLC / LLP's and their members.

    That would be the avenue I have taken many a time to pinpoint possible specific points of influence. and from there its a matter of getting in front of this person or people at the right time, and offering services for the right project. Most of the time with some research, this kind of data can be figured out. takes time, but can be worth it in the long run.

    Hope that Helps!
    Signature
    Success is an ACT not an idea
    {{ DiscussionBoard.errors[11147944].message }}
    • Profile picture of the author eccj
      Originally Posted by savidge4 View Post

      When it comes to a small business' ability to pay, profitability is not always a very good indicator. I have found time and again, many many small business' that are actually operated by someone or a group of people that have deep pockets.

      I really don't think you will ever nail down a "niche" that will fill your bill. I would suggest to try and track possible big players. Now I understand its not like you can goto the court house and say "hey I'm looking for big players" BUT... sometimes ( depending on the state you live in ) could be as easy as going to the Secretary of State's website and looking up LLC / LLP's and their members.

      That would be the avenue I have taken many a time to pinpoint possible specific points of influence. and from there its a matter of getting in front of this person or people at the right time, and offering services for the right project. Most of the time with some research, this kind of data can be figured out. takes time, but can be worth it in the long run.

      Hope that Helps!
      Good idea.

      Some of the richest people I know are in businesses that you wouldn't think could make someone rich.

      I know we have talked about the eating at the right breakfast spot strategy before which I would recommend for the OP.

      Here is something I've done to find out about people with money and interest in making more.

      Pick a near by county or even the county you live in and find the economic development office. Call the office and ask for the head guy.

      Tell the head guy that you are "in business but it's not something that would qualify for tax breaks, bla bla" and "I understand that, but still, business is business and it's good for the local economy. All I want is to know who are the other people to get to know in the area."

      Basically you are framing that this big organization sucks up resources and hands out money to other businesses vs "all I want is a couple names" to help the economy and build a business.

      After asking this don't be surprised if the economic developer starts naming names and giving you phone numbers. It's happened to me. When he gives a name ask about the person.

      Econ Dev: "Call Joe Smith. Let me get his number for you"
      You: "Okay. Now who is Joe?"
      Econ Dev: "He owns Blank Inc. He's one of the bigger players in town."

      I had an economic developer last year give me names and tons of inside info. Info like what restaurant to go to if I wanted to reach the richest guy in the county, which I needed to do "because he doesn't use cell phones."

      Now how valuable is THAT info? Try buying that from a list broker.

      Or "so and so owns half the dirt in the area but he basically just does whatever. You really need to talk to his daughter because she runs everything and is really interested in developing the community. Let's see.... Oh here's her number."

      If you are really feeling ballsy then ask "now the mayor of (pick the biggest town in the county) is he interested in business development?" That'll get you some info. And then ask the same thing about the head of the chamber.

      I don't know how well this will work in a county of of 100,000 + though.

      I would imagine for what you are wanting to do this would work like a peach. In a very short time you can become known and on the list of "approved people."
      {{ DiscussionBoard.errors[11176297].message }}
  • Profile picture of the author BuddyFox
    Originally Posted by Delta223 View Post

    Everyone targets lawyers, dentists, etc. I'd like to target niches that are lesser known but do better than average. They don't have to be cosmetic surgeons but they should have the ability to pay for services that benefit them.
    Does anyone know where I could find data that would help me ferret these niches out? A source that shows small business average profits by industry, at a fairly specific level, would be ideal.
    You could inquire about an "accredited investor" list...I know of several under the radar/high income professions...years of being in business has had me cross paths with 10's of thousands of people...

    What service are you offering?
    {{ DiscussionBoard.errors[11175225].message }}
  • Profile picture of the author Delta223
    I am starting with customer reactivation campaigns as the front end offer. From there the plan is to broker JVs for the client, anything that can expand his list and/or generate more profits for him. I'm concluding a free reactivation campaign that I did for the experience/testimonial (final day of the promo is tomorrow) and the results have gone well).
    Signature

    .

    {{ DiscussionBoard.errors[11175239].message }}
  • Profile picture of the author tryinhere
    ? is maybe possible to reverse your thinking, in that rather than you seeking blindly in the the back alleys and the dark shadows of small business, that you shine a spotlight on yourself and market your services so that those who are interested in your services are attracted to you?
    Signature
    | > Choosing to go off the grid for a while to focus on family, work and life in general. Have a great 2020 < |
    {{ DiscussionBoard.errors[11175338].message }}
  • Profile picture of the author Delta223
    You are essentially suggesting doing inbound marketing instead of outbound marketing.
    Signature

    .

    {{ DiscussionBoard.errors[11175347].message }}
    • Profile picture of the author tryinhere
      Originally Posted by Delta223 View Post

      You are essentially suggesting doing inbound marketing instead of outbound marketing.
      If that's the fancy name for it yes, but lets say, would it would not hurt to try (and do both), would it better to have people coming to you who want your services, and then closing them with your sniper bullets and feasting on a steady stream of potential new clients or going out and trying to shotgun clients in the small hope of getting one you can barley eat.
      Signature
      | > Choosing to go off the grid for a while to focus on family, work and life in general. Have a great 2020 < |
      {{ DiscussionBoard.errors[11175412].message }}
  • Profile picture of the author Debbie Kim
    Banned
    [DELETED]
    {{ DiscussionBoard.errors[11175376].message }}
  • Profile picture of the author DABK
    I vote for die casters.
    Never worked with one. It's just that's the first thing that came to mind after this one: in all business types, some are doing well, some so-so, and some are struggling. You cannot say from their facade where they belong.

    Home restoration is the next thing that came to mind: because they can make a lot of gross income per job and most people on this forum never thought of them. Which is not to say they don't have a lot of marketers after them.
    {{ DiscussionBoard.errors[11177459].message }}
  • Profile picture of the author JohnMcCabe
    If you just want some businesses that most people ignore, go down to your local library and check out a copy of Malcolm Gladwell's "Millionaire Next Door".

    Should get the wheels spinning for you.
    {{ DiscussionBoard.errors[11181110].message }}
    • Profile picture of the author eccj
      Originally Posted by JohnMcCabe View Post

      If you just want some businesses that most people ignore, go down to your local library and check out a copy of Malcolm Gladwell's "Millionaire Next Door".

      Should get the wheels spinning for you.
      Easy now. Malcolm Gladwell didn't write it. The late Thomas Stanley did.
      {{ DiscussionBoard.errors[11181241].message }}
      • Profile picture of the author JohnMcCabe
        Originally Posted by eccj View Post

        Easy now. Malcolm Gladwell didn't write it. The late Thomas Stanley did.
        Oops, my bad. Thanks for picking that up.

        The book is well worth picking up, even if I got my authors confused.
        {{ DiscussionBoard.errors[11181648].message }}
Avatar of Unregistered

Trending Topics