Daily Facts - Day #37: Billion dollar niches - Guns & safety

This wasn't a surprise ... Unfortunately ...

Handguns, rifles, and other firearms make up a huge market that claims more than $13 billion in revenue every single year.

Some enthusiasts own guns simply because they love shooting them, but most purchases in the gun industry are made based solely on emotion.

Which means you have plenty of room to make money, if you’re able to deliver solutions to the problems that gun owners are having.

And the number are staggering ... According to BrandBuilders ...

• Each year, more than 3.4 million firearms are manufactured and sold.

• Industry growth is expected to maintain an even keel at 4% per year!

• More than 33% of all households in the US own a firearm.

• 75 million adults currently own a firearm, with 40 million more planning to purchase one in the near future!

• Sales surge any time there is major news released of a shooting or terrorism related event.

• The market is primarily made up of people aged 50-64, with the secondary market being made up of people aged 30-49.

• 40% of people in the market make more than $50,000 per year.

So yes ... Gun ownership numbers are rising rapidly, especially as the world continues to evolve into the unknown.

I admit ... You may not necessarily be able to build a business around directly selling firearms ...

But, there are still plenty of opportunities for you to make money in this very lucrative industry.

A large portion of the market purchases a firearm for personal protection, while hunters and enthusiasts make up an equal portion of the people that purchase a firearm or related gear every year.

Personal protection consumers have very different goals than firearms enthusiasts and hunters do, so you’ll need to understand each of the sub-markets inside the industry, and identify which one is most closely related to your business’ goals and what you’re attempting to sell or promote.

Your thoughts?