The market is there, the public interest is there, and the supply-demand dynamic is there.
However, just like in any other industries, pet business is packed with competition.
A niche or micro-niche in pet business: Specialty pet accessories business
To thrive, you need to go as specific as possible.
If you are planning to do pet-related business, consider entering a niche or micro-niche in pet business.
One of the niches is pet accessories.
Basically, pet accessories business is dealing with the provision of accessories and sometimes, apparel for pets.
However, to blow past your competitors away, you need to find a niche in that niche. So, in this case, you have to find a niche in the pet accessories business, to etablish a business serving the micro niche.
Pet accessories micro niche example
One of the example of micro niche in pet accessories online business is MyHollywoodPets.com – an online business offering custom dog tee and other accessories that cater pet owners that want for their pet to look like Hollywood celebrity’s pet.
The market is laser-targeted and in my opinion, aiming for such niche could guarantee your success.
Things to consider for starting niche pet accessories business
You have found a great pet accessories supplier. Or better, you have great ideas on pet accessories you plan to make yourself.
The first thing to consider is definitely your market. Is it able to sustain one more business in it?
The perk, as well as the problem of niche businesses is exclusivity. You basically offer something different, and people react differently to the word ‘different’.
No matter how big your startup budget is – either $10 or $100,000, you need to know exactly what the market want.
Does it really want, for example, Hollywood-style Dog Tee? If so, does it really want it to be on the high-end or on the cheap side of the price tag? What about the segmentation? Are you targeting 18-25 years old female market, or an older, more established female market, for example?
Do your homework, and I guarantee you that the niche in pet accessories will boom your business.
Image by MyHollywoodPets.com.