Reportage: Nice to be niche?

There are many definitions of a niche market, but whether it is a scheme or a small, often-overlooked sector, there are opportunities for adventurous brokers, writes Caitlin Morrison

Is niche the same as schemes? When does a niche stop being a niche? These are not just philosophical questions because, for brokers, the opportunities from using specialised knowledge combined with unique skills and business contacts are the stuff of dreams when it comes to growing a business. But there are pitfalls to avoid if you don’t want those dreams to turn into a living nightmare.

The word ‘niche’ suggests a small, well-defined area of the market. But well-defined is probably the last