SUMMER 2022
journey that each of my clients went through and how I was transformed in the experience from
sharing their experience. I do not think that I would have enjoyed this success had I not specialized
in my chosen niches. Becoming an expert in my field, has opened numerous lucrative opportunities
and helped me develop professionally in ways that are directly a�ributable to becoming highly
specialized in my field.
If you are considering specializing in a niche, here are a few considerations for selecting the right niche for you.
MARKET SIZE
Whatever industry you select, make sure there is a sizable market within your geographic area. If not,
you might need to consider whether it is viable to travel out of your city, county or state to expand
your practice. I’m fortunate to live in California and broker throughout my state in all my niche areas.
MARKET GROWTH RATE
Consider whether your industry is growing. It should go without saying but you should avoid any
flat-lining or dying markets. Focus your practice on those markets that are essential businesses and
thrive in various market conditions. Research the growth rate for your niche and study the data to
help you evaluate its potential for your selection.
COMPARABLE MARKETS
As mentioned, I specialize in several niches. They all have cross-over in that they involve
understanding the intricacies of California liquor license transfers. The knowledge that I build in
one niche is transferable to the other niches. Working in several niches provide a hedge against each
other based on market conditions. Moreover, the niche areas also provide opportunities for referral
networking as many of my clients are connected to business owners in my other niches.
ACCESSIBLE CHANNELS
Consider how you can break into your niche. How will you market your services to them? I approach
my niches throughout multiple channels that include networking, digital marketing, print marketing,
etc. You will want to get your marketing list and put together a multi-channel marketing plan that
you consistently execute on daily.