Profit from Niche MarketsSmaller markets don't have to mean small bottom lines. With niches, the sky's the limit.
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There's big money to be made in niche markets. If you look in every corner, every possible angle of the market, you can find an untapped niche and start a business to serve its distinct customers. David Mandell found his niche with The Pink Spirits Company, which sells caffeinated vodka. After observing fellow bar-goers at the Skybar in Los Angeles enjoying Red Bull and vodka cocktails, the New York City entrepreneur and former attorney got the idea to directly infuse high-end vodka with caffeine and guarana. The result: alcohol that doesn't make you tired. "We realized we had something with tremendous potential," says Mandell, 34.
Still, having the epiphany wasn't enough--Mandell had to uncover potential competitors. He studied distribution and marketing in the spirits industry and formulated a plan of attack to get his Pink brand of vodka onto bar and retail shelves.
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