Niche Accessories Brand

How Profitable Is A Niche Accessories Brand? (Updated for 2024)

Pat Walls

•

Updated: October 5th, 2024

So you want to start a niche accessories brand?

And the first question that came to your mind was, “well, are niche accessories brands actually profitable?”

With a market size of $463B - there’s plenty of business to go around.

Especially considering:

You could start a niche accessories brand with as low as $20
Based on our data, niche accessories brands generate an average of $2.35M per year

There’s money to be made. Don’t worry.

But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a niche accessories brand.

Let’s dive in!

Is a niche accessories brand profitable?

Yes, a niche accessories brand is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.

For instance, since average revenue is $2.35M per year with an estimated gross margin of 40%, you could expect to recover your investment within 7 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your niche accessories brand.

To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.

Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your niche accessories brand is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a niche accessories brand worth it?

If you’re wondering if a niche accessories brand is worth it, the answer is a big YES. With niche accessories brands, you have the potential to earn $2.35M per year (this is based on data reported by real founders).

Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.

With a market size of $463B, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.

Of course, you must learn and understand every aspect of running a niche accessories brand to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.

You might want to consider reading more specifics about successful niche accessories brands case studies.

Examples Of Profitable Niche Accessories Brands

Here are a few examples of profitable niche accessories brands, and a few more details about them:

1. Braxley Bands ($1.2M/year)

Braxton Manley and his dorm-mate Grant Andrews started Braxley Bands as a class project at Texas Tech. With only a $20 investment and no prior business experience, they created an elastic Apple Watch band and scaled the business to $100K a month on Shopify within three years.

Is it profitable? Yes
How much money it makes: $1.2M/year
How much did it cost to start: $20

How We Turned $20 Into A $100K/Month Accessory Brand

Braxton Manley started Braxley Bands with only $20, creating an elastic Apple Watch band and scaling the business to an impressive $100K a month on Shopify, all without any other capital or investment.

Read this case study

Read by 16,535 founders

2. BBQGrills.com ($6M/year)

relying on word-of-mouth would be our strategy. We focused on providing exceptional customer service and offering high-quality products that would stand the test of time. With just $600 in our bank account, we took a chance and worked tirelessly to build our business. And now, just 11 months later, we have achieved $2 million in overall sales without any advertising or remarketing ads.

Is it profitable? Yes
How much money it makes: $6M/year
How much did it cost to start: $600

From $600 left to $2M in sales in its first year of Business Selling BBQ And Outdoor Kitchen Equipment

BBQGrills.com is an online retailer of outdoor kitchen equipment, BBQ grills, and patio heaters that earned $2 million in sales within its first year of business through a focus on quality, performance, and customer service.

Read this case study

Read by 9,281 founders

3. Rebel Book Club ($156K/year)

Ben Keene and Ben Saul-Garner came up with the idea for Rebel Book Club after realizing they both had a habit of buying books and not finishing them. They decided to create a book club where members would commit to reading one book a month, attending a meetup, and enjoying a custom cocktail inspired by the book. The club quickly grew, and now has 570 subscribing members and generates £10,500 in monthly recurring revenue.

Is it profitable? Yes
How much money it makes: $156K/year
How much did it cost to start: $100

How Two Friends Started A $13K/Month Online Book Club From Bali

Two friends started an online book club that now has 570 members and generates £10,500 MRR, by addressing the problem of 'Tsundoku,' charging a monthly subscription fee for one non-fiction book, one inspiring meetup, and one custom cocktail, inspiring conversation and community.

Read this case study

Read by 28,685 founders

Learn more about starting a niche accessories brand:

Where to start?

-> How much does it cost to start a niche accessories brand?
-> Pros and cons of a niche accessories brand

Need inspiration?

-> Other niche accessories brand success stories
-> Marketing ideas for a niche accessories brand
-> Niche accessories brand slogans
-> Niche accessories brand names

Other resources

-> Niche accessories brand tips

How much can you make with a niche accessories brand?

With a niche accessories brand, you can make an average of $2.35M revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $20. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 7 months.

How much does a niche accessories brand make a week?

Based on our data, average weekly revenue for a niche accessories brand ranges around $49K. As such, you could see monthly revenues of $196K.

To know if your niche accessories brand achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.

Learning your weekly profit can also show whether you're hitting your target goal for your niche accessories brand.

How much do niche accessories brands owners make?

The income of a niche accessories brand owner can vary depending on various factors such as location, size, competition, and the owner's business skills.

But to give you some idea, the weekly revenue of an established niche accessories brand is about $49K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.

While the potential for earning a good income as a niche accessories brand owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Niche Accessories Brand Profit Margins

Generally speaking, a niche accessories brand can expect profit margin of around 40%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a niche accessories brand, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.

However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, niche accessories brand owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, niche accessories brand owners can ensure long-term sustainability and profitability for their business.

Niche accessories brand owner salary

The salary of a niche accessories brand owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established niche accessories brand, in a prime position, might see an average weekly salary around the ballpark of $19.6K.

But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.

Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.

Conclusion

In a nutshell, based on many of our examples, a niche accessories brand may be a promising business to start - but the success of your niche accessories brand mostly depends on your effort and your approach.

If you focus on these, you'll have a much higher chance of a profitable niche accessories brand.

Part of

Starting A Niche Accessories Brand: Everything You Need To Know

‹

›