Welcome to our wonderful capitalist society, where every entrepreneur can stay busy for the industry they like as long as they want to be industrial. Just look at the busy wheels on the marketplace trip, you will! Beautiful to see it all go around, but when you dive in, you will notice that you have this little factor that you must struggle to make your business succeed: competition.
Yes, it's a bit of a kill-joy that so many of your customers have the opportunity to take their business somewhere else. Especially in the hospitality area, where restaurants, bars, hotels and casinos are so commonly found everywhere. You can compete directly and try to surpass your competitors at either price or quality. But when it fails, a possible strategy is to consider going on a niche market.
Here you are specialized in a particular category, proving to do one thing well and do it solely. Starbucks coffee franchise is an excellent example: They started as a small chain of espresso stores in Seattle, Washington. That's what it's all they are known for: coffee. Even though their success has helped them to adore tea and other beverages as well as snacks and pastries. So now they are more of a chain of cafes that are mostly known for their coffee.
It can be argued that Starbucks would not have existed without the college / techie volume. The chain became the "happening" place for college students and especially technology entrepreneurs, two groups known for their enthusiasm for coffee drinks. The decor and atmosphere of the earliest Starbucks stores reflect this very well: a hip, urban and sophisticated atmosphere, where you would not be surprised to find a poet scribbling on a legal pad, a programmer or blogger throwing away on a laptop, an artist who clearly outlines the volume, and a pair of old intellectuals who chess on a corner table, all the time with the alternative music on the speakers that gives the subtitle.
Bars is a leading candidate for niche specialization. We have all discovered country / western theme bar, disco club, working class "Fern bar", biker bar, sailing bar and the popular sports bar. Bars cater for a wide range of specialties, and there are companies dedicated to singles, bars exclusively to members of an alternative lifestyle to meet and mingle, or bars theme for fans of a particular genre of music. Bars that are still for recreational purposes borrow easily to have a theme. You also see bars marketing for an age-based niche, such as business themes such as "speakeasies" or catering to a jazz-loving crowd. Everything from a 1950s "sock jump" to a 1990's "yuppie safari" can be styled with a bar.
Restaurants are another frequent candidate for niche specialties. Almost every selection of food is represented in a restaurant somewhere. But restaurants have many more options to find their niche than just their national identity on the menu; And then we have truck-stop-diners, bed-and-breakfast inns in wine country, swanky upper-crust establishments, sidewalks, family-oriented pizza rooms and specialties like bakeries and ice cream shops.
It could be argued that pizza itself is no longer identified with Italian food. The national "Chuck E. Cheese" chain demonstrates it very well. Founded by the Atari founder Nolan Bushnell in San Jose California, they knew their target audience was suburbs and they set up a restaurant that not only sells pizza but arcades, shows and a wide variety of entertainment aimed mainly at small children. The chain remains today as one of the few reliable family-friendly companies to offer a viable option for an evening for the entire household. The restaurant is suburban and american; You will find very few references to Italy beyond the menu.
Even hotels and casinos are coming into the niche market. Here, niche marketing is less important as these companies are too big not to be aimed at being for everyone. Casinos aim in particular on a particular theme for style depending on. A cruise on the Las Vegas Strip will reveal the casinos theme after an ancient Roman emperor, a western salon, an Egyptian pyramid, the city of Paris, the city of Venice and so on. Many casinos are now also targeted fun for the whole family and include everything from cinemas to full-scale amusement parks with rides, live shows and attractions.
Whatever you choose for your own business, you should be able to understand your target audience. Think of it as a system of points. You score a point for your Asian restaurant if your menu is authentic enough for a member of this country to eat there and not know the difference. You score more points if the company is decorated with a theme in the country; For an Asian restaurant Foo dogs, Buddhas and bamboo and water fountains are all popular hand. You score another point for your Asian theme if you offer chopsticks as an alternative tool. And so on. Each point you can add to the scorecard represents once again that you can give your niche customer customers an authentic experience.