Finding Your Niche in the Modular Industry: A Path to Success

Have you ever wondered what niche you'd choose if compact homes and private customer home production weren't part of your business? Your "target market" is your ideal customer, whether an individual, company, or a specific group of people you serve. In other words, it's the group you aim to reach with your marketing efforts.

How you approach this varies from one modular manufacturer to another, as everyone has their unique ideal customer. However, despite these differences, many companies struggle to effectively sell to their ideal buyers.

You might have a fantastic solution that meets someone's needs perfectly, but if you're not promoting what you do today, you'll never connect with your ideal customer. This oversight can potentially cost you millions.

Achieving your goal should be a priority, even when you're swamped with work. The construction industry operates cyclically, and even minor changes can affect the market significantly.

The entire modular industry is essentially a niche market. Your niche is your specialization, the sector you serve, or how you provide your target market with a product or service they find valuable.

To understand that our industry is a collection of manufacturers, each pursuing its niche in the market, look no further than your existing customer base. With very few exceptions, they all have similar business profiles.

You may discover that, for instance, you have customers in private home construction, affordable housing developers, hotel builders, healthcare facilities, and various other segments, but your manufacturing facility has decided to work with only one or two of these groups.

Beginning by servicing one market niche and then finding another that you can serve even better is a proven path to growth for many modular factories. Some start with residential construction but eventually realize that producing rapidly deployable modules for temporary schools is a simpler and more promising endeavor.

Keep a close eye on your current niche market, while also watching for emerging trends. Avoid tying your factory to a shrinking market; it's the best way to remain in business.