By Stacy M. Menz, PT, DPT, PCS
What is a niche practice? According to Google Dictionary, a niche means “denoting or relating to products, services, or interests that appeal to a small, specialized section of the population.” Being the owner of a private pediatric practice, I definitely feel that I work in a niche market, especially when I compare my practice to the majority of the membership of the Private Practice Section.
But then I thought on it a little more. I have created a great network of other pediatric practice owners, and my market and target population are different than theirs. So does that mean that I have a niche within a niche?
Articles in past issues of Impact magazine have provided a lot of information on defining your target population and marketing to your target population. To define your target population, you need to think about who is your customer.
If we are each defining our customer, and we are being specific about it so that we can best market to them, serve them, provide for their specific needs, doesn’t that mean we all work in a niche market, to some degree? We have all found the “sweet spot” for those we can best serve. Some of us may be generalists and provide services to all who are in need. Others may serve a particular group, like people with Parkinson’s disease, or high-performance athletes, or children in the school system—in physical therapy private practice, the list can go on and on.
I think what having a niche practice means is that you have found your section of the population that you know and understand and can provide the best service to. So, what is your niche? We would love to hear from you.