What are indicators that a certain service might be oversaturated in your market?

[isaiah9six]

I'm looking to launch a sweaty startup this spring but I'm experiencing a bit of analysis paralysis at the moment deciding which service exactly to start with.

I have a decent bit of startup capital but I'm trying to figure out if X,Y, or Z service will have too much competition.

Knowing this sub, the likely response will be "just get started doing anything", and that is likely true. But nonetheless I'd like some salient advice if possible.

Is there a way to identify which services are underrepresented in your local market? Overrepresented, etc?

 

[carpitect]

@isaiah9six I wouldn't sweat the competition.

Start as lean as possible.

Don't go into debt.

Do your research before getting going.

Try and start at the right time of season if it's seasonal.

If you want to know if it's saturated...looking up the service on Google. See how many companies there are and also how current their reviews are. See who's spening money on FB. Check to see how often you see the ad. Call a few during the busiest part of the season and see how far out they are? They 2 months out on painting for example.... if theyre good at marketing, good at painting and have an assistant answering phones...that could mean your market is underserved.

 

[mattfoltz]

@carpitect Great advice.

 

[knd92]

@isaiah9six There will always be competition. Do what they’re unwilling or unable to do to stand out. Could be as simple as professionalism and timely customer service or could be CRM and use of tech to increase proficiency or could be creativity and a personal touch, etc. However far your competitors go, determine the distance and then go further.

 

[newmove]

@isaiah9six Competition doesn't matter. You just have to be 1% better than them.

If you already don't have something picked out then you don't have a passion for the work.

 

[leaderturk]

@newmove Be better!

 

[pastorpontibus]

@leaderturk The fuck does this mean? This is a solid answer. Every answer after is exactly the same. Do you have some better to offer OP?

 

[613jono]

@isaiah9six If it has the word locksmith in it. If it has the word house cleaners in it

The funny thing about both of these is if you can keep the costs down and you really work your marketing. You can build an established business but there are so many flyby night operators with both of these simply because the cost to open the business is so low

 

[murderer]

@isaiah9six The best way to figure this out is to do some keyword research, have somebody take a look at the market, and then find lower competition keywords that have volume to find a gap in the market. That’s going to help you figure out what approach to take regarding getting customers, it might be a blend of something you’re not yet looking at.