Editor’s note: This article was first published in August 2010. The description of the AXEL hotel chain (Barcelona, Berlin, Buenos Aires), the legal status of same-sex marriage and the scarcity of shops for left-handed people reflect that year.
When people think of a business idea, they always hope to reach as many customers as possible. We expect our business to work on the assumption that our idea will be useful to everyone. Other entrepreneurs target a more specific market instead. They don’t launch their business for everyone. This limits their number of customers, but it also limits their competition, because these business owners specialize in specific markets and groups.
The gay and lesbian community
The gay and lesbian community has always been a very affluent group of big spenders. Today, business owners have created companies focused on this sector.
- Hotels for gay customers: The AXEL chain opened its first hotel for gays and lesbians in Barcelona, without discriminating against other guests. Its advertising targets gay customers, but it welcomes heterosexual guests of all kinds. The Barcelona hotel was a huge success, so it wasn’t long before they opened others in Berlin and Buenos Aires.
- Law firms specializing in gay and lesbian clients: These lawyers may have had one of the best business ideas around, because they secured a steady, recurring clientele. Since same-sex marriage is now legal in some countries, this firm specialized in divorces for same-sex couples, as it seems their rights are not the same when it comes to divorce. They also specialized in discrimination against gays and lesbians, so anyone facing discrimination, whether at work or elsewhere, knows where to turn.
The gay and lesbian market is undoubtedly huge, with gay-oriented leisure venues, gay tourism, beauty salons for gay customers and so on. So put your mind to work, and if you find a business idea that meets a need of this community, success is practically guaranteed.
Shops selling products for left-handed people
There are very few shops today that make life easier for left-handed people, so it’s a matter of doing a market study or a survey to see how many left-handed people live in your area. That study or survey will tell you whether your business idea is viable and which products these customers need most.
Beauty salons for men
They have been a success wherever they’ve opened, because men feel more comfortable when women aren’t around to discover their secrets for staying well groomed. A business that specializes in and focuses on male customers can still employ female beauticians.
These are just a few examples of entrepreneurs who decided to develop a business idea aimed at a specific group. I’m sure there must be many other business ideas focused on particular groups.
Maybe you have a good one.
Further reading
- Business ideas related to home services
- Businesses that provide services to companies
- Selling advertising: a very profitable business
- How to be a successful businessperson, part 1
- Ideas for achieving financial freedom, part 1
Featured image: Bin im Garten, CC BY-SA 3.0, via Wikimedia Commons.
