Have you thought about you target market ?. If so, lets now filter this from the endless list of what is the best small business to start that may have gone through your thoughts. Some of these could be, street food, home cooked delivery, corporate events, private functions, snacks production, cake making, ready-meals, starting a cafe, bakery or restaurant to name a few.
Finding your Niche
Now that you have an idea of your target market, you won’t need to spend all your time searching for what is the best small business niche, only to find out its leading nowhere.
The key to finding your niche is much more than identifying a market. In order to confirm and consolidate your niche, you will need to draw on all your experience, skills and the people you know.
- Experience-Think of all the food related services you have experienced that relates to your niche and ask yourself whether you are a good fit for this and how you can innovate to create your own USP.
- Skills-Ensure your chosen niche is the one you can add most value to by adding your experiences.
- Contacts-The people you know could prove crucial in the growth of your niche. First reach out to those who would most benefit from your services and make them aware you are going into business and ask to spread the word.
Having identified your niche, the next task is to stay focused on it till you are totally established. Don’t even consider another niche before conquering the first one and after you have done this, you will have the experience to diversify and look at your next project should you choose to do so.