🏠 a micro niche doing millions per month in sales

Hey, how are ya?

Welcome back to another one, and this one’s a banger indeed.

If you’re new here, this is the up-next newsletter where we bring you the latest data, trends and biz ideas to help you launch businesses that actually make money. No weird guru stuff, I don’t have a lambo or penthouse.

Today’s newsletter we’ll be looking at: 

• A microniche with multiple brands doing big numbers (7 to 8 figures a month)

• A score of niches within this market you can target and 4 ideas you can go after immediately

• A look at the trends and numbers driving this crazy demand. Lets jump in 👇👇

💰The “Micro” Niche Products Making Millions Per Month

Mini appliances and travel friendly products are quickly becoming all the rage. Why? People are living less traditional lives and redefining what’s essential and important to them.

The average new condo is now just 700 sq feet & shrinking more every year, meanwhile, searches for mini appliances & accessories are growing rapidly.

So what’s leading to this trend? Well, as mentioned above, living spaces are becoming tinier. In addition, more people are choosing to live and work remotely, this means they don’t need expensive appliances or household items.

You don’t need to build the next hoover or luxury brand, just something that’s easy to travel with and gets the job done.

There’s also a fast growing community of nomads and people living (and working) on the road. They’re looking for a quick and easy setup and quite honestly, most of the options out there don’t fit their needs.

One brand that’s taken advantage of this is called Xebec. They’re focused on flexible work options for nomads and people who travel while working. A genius yet simple idea that has transformed into a very successful business in just a few years.

There are many work from home and easy setup work stations, but they’ve focused on nomads and aligning the brand with a travel friendly work experience.

A quick look at their instagram page tells you who their ideal customer is, and who they’re not targeting. They don’t have to compete with Apple, Microsoft or Dell.

These large marketcap companies are not looking for $10 million per year opportunities, leaving a ton of space for smaller brands to come in and snatch marketshare.

So how can you take advantage of the growing market?

1. Create an entire Niche dedicated to travel / mini appliances. Many companies make smaller items, but there's still many opportunities if you dedicate a brand to the growing market. This can be for Nomads, people who travel for work or those living the van life.

2. Multi purpose appliances. If you can find cross over between different appliances and build an all in 1 solution that takes up less space - you're probably onto something. There's a lot of creative ways to use 1 multi purpose appliance, using less countertop real estate (which is rare in itself these days).

3. Most appliances selling now look like Hot Garbage - with brand names that read like a 5 star difficulty password.

   If you have any design chops, the easiest win is to build something that just looks better on a countertop and fits nicely into a cupboard. Get amazing lifestyle photos done and show yours compared to competitors. People don’t necessarily want luxury, but they still have dignity. Bang & Olufsen (image below) is a great example of this (and a company we take a lot of inspiration from in our ecommerce brand).

4. Cross selling opportunities:

   1. Condo builds

   2. Air BnB hosts

   3. Interior Designers focused on condos

   4. Endless minimalism influencers and nomad content creators.

   5. RV's and van life

   There are a ton of outside the DTC box opportunities to stand out and become a well known brand in the space.

Acquire a Customer Once, Sell to them for Life

My favorite part about this market is the diversity of product & distribution. There’s many ways to sell (Amazon, Shopify, through influencers and sponsoring creators or through interior design and decorators) and endless product options as you acquire customers and a following.

One of the key factors to building long term brands is the ability to release products that fall within the scope of that brand. This is not possible in all markets but certainly is with household appliances and goods.

There’s a ton of product runway, and typically if someone needs an air fryer, they also need dozens of other appliances over the next few years to go with it.

Ninja Kitchen is another great example of this and one of the fastest growing household appliance brands on the planet (on a side note, I highly recommend their creami homemade ice cream maker 🔥)

That’s it for this week’s report. Grab a few ideas and run with’em. Someone will, why not you?

See ya next week!

-Ken