Today anyone can start a business, and it all made possible by the impact of the internet. Yet, for you to be successful you must know your target audience and their needs. Most of all you have to understand the market you are getting into. The knowledge of what you specialize in, or your niche will benefit you. So with that being said, let’s talk about some profitable niches and the top business in each one.
Fitness and Weight loss
Let’s be real for a minute. The fact is Americans are obsessed with fitness and weight loss. And we are willing to pay billions on an annual basis to this industry. The leading business in this niche is Weightwatcher. And the concept of marketing is a very good one. Over the years you’ve seen the likes of Jessica Simpson, Charles Barkley, Jennifer Hudson, and Oprah Winfrey reveal that they were on weight watchers.
For starter weight watcher pushes the concept of dietary freedom. Think about it for a second. Would you rather have the freedom to eat what you want and lose weight? Or would you rather be on a restrictive diet? They change your eating habits but, not what you eat. They average 1.7 billion in annual revenue.
Relationship and Dating
You know the saying the heart wants what it wants? Well, people have learned to capitalize on that. Truth is nobody like to be alone or being single. Some people don’t know how to interact with others the through regular methods. As a result, they turn to online dating as a means to connect with others. The matchmaking and online dating industry is a very profitable one. It averages well over a seven billion dollars on an annual basis. Well, the business leading niche is match.com. And their concept is what separates them from their competitor.
Communication while their competitors facilitate email or direct messages between clients. Match.com has provided their clients with a multitude of ways for clients to communicate. They also give clients to connect in a more organic way to go with the list of matches provided. Their average annual revenue is a little over one billion dollars.
Insurance
There are few great websites for those trying to narrow down their options when looking for car insurance. It gives you a list of insurance companies that may best suit your needs. The prices are very affordable and user-friendly.
Pet
People love their pets so much that they are willing to spend endless amounts of money on them. Think about how many time you’ve seen dogs wearing human outfits. Or even being pushed around in a doggy stroller. And at times some pet can be seen wear fancy jewelry. This business that leads this niche is Amazon.
For starters, Amazon give prime members extra discounts and free two shipping options. People appreciate being able to shop for their pets from the convenience of the homes. Another Unique Selling point for Amazon is their price match feature. So no matter what their competitor’s prices are they can match it with ease. By doing that they are inspiring loyalty to customers. According to packagedfacts.com. The company has seen an 18 percent growth in revenue in the pet niche since 2014.
Fashion
Fashion some is a love-hate affair. Well believe or not fashion is a very profitable niche to start a business in. Think about it, people will always need clothes and clothing accessories. The industry averages three trillion dollars. While also accounting for two percent of the world’s Gross Domestic Products (GDP). The online business in this niche is, missguided.com. They have a sizeable following of young female customers. They average over 150 million dollars a year.
Marketing is their unique selling point. You tell who their target audience by how they run their marketing campaigns. The models they use, sell point even more. Young women between ages 16-24 are captivated by their campaigns.
Beauty Treatments
People are very obsessed with their beauty and self-image. The truth is Americans are willing to spend millions on their beauty treatments. Be it makeup and cosmetics, plastic surgeries, or spa treatments. For now, let’s talk about the makeup niche. An industry that is connected to almost every other industry. But, let’s focus on the makeup niche that is affordable and effective. The leading business in this niche is MAC cosmetics. Mac is a branch company of Estee Lauder companies. Their focus is to provide professional quality makeup to young women. Their unique selling point is offering a wide variety of cosmetics and product ranges. Mac averages over 200 million in revenue.
Cyber Security Service
Data security is a vital part for any online business. Cybercrimes are on a rise and it is essential to have your websites secured by browsing services that various cyber security companies offer. The services which may include vulnerability security scan or detection and testing network devices for cyber threats.
Conclusion
The most important to remember about business is, no matter what you do decide to pursue as a niche, you have to know your target audience. You must know how to meet their needs. Once customers know you are able to do that, they will always come back to you. Also please remember to have a unique selling point. Something that separates you from your competition.