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Not sure if this would be considered an "ideas" thread so please forgive me if I've posted in the wrong section.
I think I have found a niche with reasonably demand. It involves a sport that is much more popular in the uk and overseas than it is here in America. However, it is gaining traction in the states and has potential to keep growing, but how much is questionable. The business would involve selling related products, possibly some under my own brand. Prices would range anywhere from $1 to $500+ for higher end items. There are many companies covering the market in UK, but here in the u.s. those involved in the sport have less options to purchase items or are sometimes forced to order from oversees suppliers to get the products. There are only a few well known retailers selling related products here in the u.s., and their websites seem outdated and I personally have found they have poor search engines and/or difficult navigation. I did a domain search and there are quite a few good, applicable website names available. I would estimate the potential u.s. customers in the tens or thousands currently but like stated it has questionable growth. As I see it I could be on top of a new wave within a few years or I could be working another average salary position with the only benefit being I run the show.
The following question is applied with the long term goal being early retirement with comfortable living. Toys are good but the main objective would be to avoid working a job. Yes, getting ahead of myself but I figured someone would say "well that depends on your goals."
So the main question being, would it be intelligent to enter a business where the current number of potential customers will never be fastlane but it has potential, but unknown growth? It currently has only a few larger businesses as competition but I see possible improvements. I guess all businesses have questionable futures however I know this will never make me a billionaire but possibly a small fortune and I'm debating registering the domains and company or keep trying for something with a better customer base.
I think I have found a niche with reasonably demand. It involves a sport that is much more popular in the uk and overseas than it is here in America. However, it is gaining traction in the states and has potential to keep growing, but how much is questionable. The business would involve selling related products, possibly some under my own brand. Prices would range anywhere from $1 to $500+ for higher end items. There are many companies covering the market in UK, but here in the u.s. those involved in the sport have less options to purchase items or are sometimes forced to order from oversees suppliers to get the products. There are only a few well known retailers selling related products here in the u.s., and their websites seem outdated and I personally have found they have poor search engines and/or difficult navigation. I did a domain search and there are quite a few good, applicable website names available. I would estimate the potential u.s. customers in the tens or thousands currently but like stated it has questionable growth. As I see it I could be on top of a new wave within a few years or I could be working another average salary position with the only benefit being I run the show.
The following question is applied with the long term goal being early retirement with comfortable living. Toys are good but the main objective would be to avoid working a job. Yes, getting ahead of myself but I figured someone would say "well that depends on your goals."
So the main question being, would it be intelligent to enter a business where the current number of potential customers will never be fastlane but it has potential, but unknown growth? It currently has only a few larger businesses as competition but I see possible improvements. I guess all businesses have questionable futures however I know this will never make me a billionaire but possibly a small fortune and I'm debating registering the domains and company or keep trying for something with a better customer base.
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