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Profit from Niche Markets

Smaller markets don't have to mean small bottom lines. With niches, the sky's the limit.

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This story appears in the September 2008 issue of Start Up.

There's big money to be made in niche markets. If you look in every corner, every possible angle of the , you can find an untapped niche and start a to serve its distinct customers. David Mandell found his niche with The Pink Spirits Company, which sells caffeinated . After observing fellow bar-goers at the Skybar in enjoying and vodka cocktails, the entrepreneur and former attorney got the idea to directly infuse high-end vodka with 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 in the spirits industry and formulated a plan of attack to get his Pink brand of vodka onto bar and shelves.

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