The market for health and lifestyle related equipment is growing leaps and bounds, as my recent profile of Ron Sim showed. But there’s also another market that is showing great potential – life-style equipment for the those who don’t find it so easy to move as they once did, or can’t move at all.
Manufacturing a bath lift for those with mobility issues or a special telephone for those with visual or aural difficulties or even a surgical mattress represents a great challenge for those companies who produce products for the mass market… But for new entrants or those with a different market focus, these smaller niche markets can reward handsomely.
More so, when those products and services originally designed for niche markets become mainstream. After all, special telephones and bath lifts can become desirable products for those outside the niche market.
Of course, providing mainstream products but with better follow-up for your niche market, perhaps rewriting manuals, providing manuals in video format or whatever, etc… this could also be a lucrative source of new customers!