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How to choose a niche for personal business. Specialist advice

Many dream of having their own enterprise or shop. Such thoughts fill the head when tired, you barely crawl from work, remembering with unkind words the bosses who can only demand. Or after another failed interview, when hatred of all potential leaders is ready to break out.

At such moments, you imagine yourself a cool leader, traveling on a brand new typewriter to give orders and pick up a large sum. Surely, many such thoughts arose more than once.

But we need to plunge into reality and understand that choosing a niche for a personal business needs a serious approach.

How is a niche chosen for personal business?
Do not make standard mistakes.

It is not uncommon for private firms to burn out in small and medium-sized businesses. And this is due to a lack of understanding of the great difficulties in a profitable business. You need to know that a business requires constant work, and preparation for its opening should be very serious and responsible.

Do not forget that you need money for start-up capital, about 2 thousand foreign currency. It is better to risk your capital than banking, which will need to be returned with interest and in any case.

When deciding on a niche for your business, you need to consider:

– What are the market demand for such an enterprise.

For example: everyone needs food, and few fishing rod fans need fishing gear.

– What are the workloads of such a business in this place.

If your area is crowded with pharmacies, then you do not need to cram with another one.

– Calculate net profit.

How many panties you need to sell, and pantyhose or jeans, for earning 500 UAH .. Do not forget to take away all expenses (transportation, rental of premises, salary to the seller, taxes, etc.).

To understand the profitability of your business, you need to make a calculation of all the above costs. To cover them, your business must earn, say, 100 thousand UAH.

You have a desire to have a net profit of 40 thousand UAH. every month. And if this is a salon, then you need to evaluate the capabilities of services and goods. Will your business be highly popular in order to receive imaginary profits, and not stay in the minuses?

– Understand your knowledge in this direction.

If you cannot distinguish the karemat from the corridor, and rely on the knowledge of the seller, then this can destroy you if the control comes from a misunderstood owner. Before opening a store with tourist goods, it is necessary to study the whole theory and advice of “experienced” sellers.

– Explore the local area for future business.

In the village they don’t need a hairdresser for dogs, but in a veterinary clinic or pharmacy – it can be very much, because the countryside is full of livestock.

– Popularity, relative to the season.

High demand in carnival costumes can be in the New Year, well, and in Halloween. But this is not enough to have good profits.

Two opposite examples can be given in starting a business.

– Natalya worked in real estate. She liked this business and everything worked out for her. She decided to open her own business in this direction.

I collected money, and a part of the funds I borrowed from relatives. After a short time, her enterprise became the best in the area, as she could get along with people. She was assisted by familiar lawyers and a previously developed client base.

-Sergei wanted to get a quick result, not to work for someone and not to do early morning rises. Own laziness prevented me from exploring many details of the future business. He opened an auto parts store, although he was far from this business, he did not even have a car.

There were no finances, and the starting capital was taken from the bank, on the security of my mother’s housing. The store managed to hold out for 9 months before closing. The mother repays the loan debt, working mercilessly in several jobs to save the apartment.

Before starting your own business, you need to consider the type of service that will generate income. Especially if there are no professional skills, like a hairdresser or veterinarian.

It must be remembered that people need:

– food;

– inexpensive, but high-quality clothing;

– feed for livestock, both decorative and home origin.

– medicines;

– assistance: training, repair, cleaning, transportation, etc.

Someone, taking a chance, opened a pet salon. Everyone laughed out loud and waited for failure. But after a short time, they saw only long lines for washing, cutting and manicure.

When choosing a niche for your personal business, it’s nice to open an online store, although this market is already crowded, but offer something unusual to succeed.

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