So many people dream of becoming their own boss, of creating a startup that’ll provide them with oodles of clients and floods of cash.
Yet far fewer people make good on their grandiose ambitions. In part, that’s because finding a niche business idea that’s both unique and useful is easier said than done.
The ideal startup should aim to fill a gap in the market, be cost-effective and practical, and have a ready-made client base.
An idea that ticks all those boxes is rarer than a blue moon – and yet successful entrepreneurs have hundreds of them every day.
To help give you that lightbulb moment, we’ve tracked down a few niche SMEs that have rocketed towards the stratosphere of success. Their story might provide you with the perfect jolt of inspiration.
1. We Buy Any Stairlift
The name We Buy Any Stairlift is perfect for a small business. With a glance you understand instantly what this company does. And such unambiguousness has made We Buy Any Stairlift a recognisable and trustworthy brand in its field.
The company known to hire knowledgeable and fully licensed engineers in its company, and thanks to the golden combo of experienced staff and simple, no-nonsense branding, it has been active for over 20 years.
The lesson: be eye-catching, but don’t forget to be reliable.
2. Minimalist Baker
There’s a big difference between aspiring towards a healthy diet and actually finding the time to implement one into your daily routine.
Enter Minimalist Baker, a cooking brand that provides recipes that are easy to cook, require a minimal number of ingredients, and are all vegan and gluten free.
The key aspects of this brand have allowed them to enter the big time and given them a platform to produce best-selling cookery books and a plethora of utensils.
The lesson: keep your core values simple – and always stick to them.
3. Janelle Allen
The value of online courses became more apparent when the world weathered through a global pandemic. As we huddled in our homes, internet learning turned into one of the great money spinners of the lockdown.
In turn, many more people wanted to share their skills with the world but didn’t know how. And a brand like Janelle Allen was perfectly positioned to school its users in the art of online courses. And today they have a proven track record for doing exactly that.
The lesson: if you have an effective brand, your time will come.
4. LuluLemon Athletica
When it comes to fitness, women have vastly different needs than men – and LuluLemon Athletica have cornered that market.
Although they provide a small product line for men, LuluLemon Athletica aim their marketing solely towards women, reaping the rewards of a loyal customer base in the process.
The lesson: broadening your customer base too widely risks diluting your brand and, in turn, alienating the consumers who first fell in love with your USP.
We hope these examples have given you a startup brainwave. If they have, let us know in the comments below.