MRL #128- What You Need to Know Before You Pick a Niche

The biggest mistake I’ve made as a Producer?

Niche-hopping.

Especially in my first 4-5 years.

I’d chase construction one quarter. Trucking the next. Then I’d hear about a buddy crushing it in manufacturing and sprint in that direction.

Each time I’d hit a wall. It would either be hard to find leads, the coverages would be too complex, or I wouldn’t have the markets.

Then I’d convince myself the real opportunity must be somewhere elsend I’d pivot again.

Here’s what I’ve learned the hard way:

Every niche has roadblocks.

The producers who end up owning a niche aren’t the ones who find a path with no resistance. They’re the ones who pick a path and outlast the friction.

In this newsletter, I’d like to do 2 things.

1. Give you my 10,000 foot view on each industry

2. Give you a framework for picking and sticking to a niche

Sound good?

Ok.

Let’s get started.

Construction

Premiums can be strong depending on their size and class, and there are plenty of them out there. The competition is brutal. Winning here often means narrowing down. Forms and endorsements are everything.

Real Estate

Extensive property schedules can be hard to see behind LLCs and holding companies. Referrals are everything here. Help one investor or CRE broker and their whole network can open up.

Manufacturing & Distribution

Service work is lighter than most other verticals and the right products can throw off huge premiums. Pick wrong, and you’re writing low-margin widget shops. Appetite pockets can vary, so learn your carrier partners.

Trucking & Transportation

There’s an endless supply, and huge premiums which is why every producer calls them. Smaller fleets churn fast, so go upstream to 50–500 unit operators with safety programs you can enhance. Sub-niches like towing, livery, and moving companies have unique markets that reward expertise and market access.

Oil & Gas / Environmental

Profitable but complex. Midstream contractors, environmental cleanup, and fuel haulers each have their own markets and quirks. If you don’t have the carriers or mentors, don’t waste time. This one eats generalists alive.

Hospitality (Restaurants, Hotels, Bars)

Restaurants come and go, but multi-location groups and franchisees are sticky and cross-sell heavy. Slip/fall, liquor liability, and turnover are the pressure points. Associations are the best way to meet owners and build trust.

Healthcare

From home health to hospitals, coverage isn’t usually the hurdle, carrier dominance is. Some states are locked down by one or two players, so know your agency’s access before diving in. When you’re in, retention is strong because switching brokers is messy.

A Few Other Niches

• Education: Look for charter networks and private schools with big facilities and bus fleets.

• Agriculture: Regional equipment dealers, larger growers/processors. Market access matters.

• Automotive: Dealers are super transactional. Good luck.

• Marine & Aviation: Only worth pursuing if your agency already has deep expertise.

• Municipality: politics, politics, politics, barf.

How To Pick (And Stick With) Your Niche

1. Start where your agency has markets.

2. Pick a broad industry those markets support.

3. Build a lead list of 300-400

4. Go outside your agency’s current geo if you need to.

5. Commit to 1 year without pivoting.

6. Pick one outbound and go all-in (calls, drops, etc)

7. Use supps as your discovery script.

8. Work 3 deals and you’ll know plenty to be dangerous.

9. Leverage new wins for referrals

I lost years to niche-hopping…

Don’t Repeat My Mistake

Pick a lane you can live with and go all-in.

There is no utopia. There is no greener grass in the other niches. There is only the producer who’s willing to work hard work and eat a lot of sh*t sandwiches until they find success.

Best of luck out there.

Check out the Producer Playbook here.

See you next week.

Kick ass take names,

– Trey

P.S. Coming Soon: Producer Games

Producer Games is our new app for Producers that gamifies prospecting with a national leaderboard. Track your calls, emails, or drop-in numbers while seeing how you stack up against producers across the country. Competition, accountability, gamification all in one. Launching Nov 1.