There are several ways people describe the type of business they are in, and in most cases more than one description will apply. While there are hundreds of categories that get very specific, for our purpose here, which is to help with the process of finding your niche, let’s review the most popular categories:
- Service business. A person (or more than one person) delivers a service, such as housecleaning, massage, or tax preparation.
- Product business. The business is based on the offer of a specific product, such as a household gadget, software program, or children’s toy.
- Retail food service. A business that directly provides food products (e.g., a pizza parlor).
- Food business. A business that offers a food product that is prepared for sale, direct to consumer or wholesale (e.g., your own jarred tomato sauce).
- Professional. A firm that provides professional services (e.g., a law firm, accountancy firm, detective agency, or computer support company).
- Technology. A company in the tech field, which can include anything from software development to the sale of mobile devices.
- Media. A business that focuses on some aspect of media, such as publishing, content production, public relations, or advertising.
Other classifications are based on the target customer. Who is your customer?
- B2B (“business-to-business”). A business that sells to other businesses. A printing company or medical device manufacturer are good examples.
- B2C (“business-to-consumer”). A business that sells to end consumers. A retail shop or eBay PowerSeller are examples.
