“No growth hack, brilliant marketing idea, or sales team can save you long-term if you don’t have a sufficiently good product.” ~Sam Altman
Start-ups have swish swashed their ways into the market and more evidently, our lives. From the e-comm store you swear by and the local advert placing website you so thank, you are connected with a start up in some way of the other. Some of us own start-ups, some work for one while some are loyal customers for few along the way. Hate them or love them, there is no way you can ignore start-ups. Analysing the quick paced rise of start-ups globally and especially in India, we did notice how some start-up genres are packing a punch while some are ready to pack away their baggage within a short span of an establishment. This got us to wonder if there are certain niches for start-ups that are so overdone that these need a fresh coat of paint.
Food Deliveries– While some start-ups rose pretty high in the genre of restaurant deliveries across cities or towns, the latest entrants in this space simply have their fundamentals wrong. For starters, food-based startups are not just about tying up with local restaurants and setting up a system to deliver food to the right address. The fundamentals run deeper if you want to score big here.
Fashion And Accessories– After the biggies have already occupied the top and middle ranks, there is not much place but at the bottom for new entrants. Except when they know how to offer fashion and accessories to buyers in a way or from sources never tapped before.
Travel Planners– We have seen a number of new travel planning start us reach the sky only to fall flat. With the diversity of the travel industry, the main drawback is a lack of understanding on how best to utilize seed funds in the domain. Planning an entry here? Get your basics clear first!
Tour Guides– A much hyped about and appreciated niche, new entrants in the domain are faking to realise that this is not as easy as those days when you hired a tour guide to rant like crazy. It involves a lot of knowledge, moolah and travelling. Let us not forget the networking and licensing issues you will be grappled with.
These start-up niches are more prone to falling flat. Not that they come sans potential. The truth is that these niches need a fresh lease of life that can only come with proper understanding and research. The experience part is only a given!