Being a niche business means being both unique and good at being so. Following a trend or offering sub-par services will not allow you to profit. If you are good enough and offer unique enough services, you can make a large return in investment.
When people go to a niche business rather than a larger chain, they expect higher quality than what the chain can provide. You cannot compete with the higher range of costumes the bigger store can provide unless your costumes really are of exceptional quality.
When thinking up an idea for a niche business, you need to ensure two main things. The first is that there is actually a market for the niche you are attempting to fill. Often this step will happen even before you come up with an idea. Bigger business can do this by offering as many services as possible, making it convenient to do it all in one place.
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