Picking the right niche is important when you are starting a business. Maybe you should consider the entertainment niche and particularly hospitality, which is a major industry niche around the globe. In fact, in the private sector, the hospitality niche ranks as the biggest global employer providing a variety of opportunities in various fields including travel, hotels, leisure, cafes, cruising and restaurants. That is why it is a great sector for starting a business. Here are 7 critical success factors for starting a business in any niche. Critical Success Factors for Starting a Business 1. The Right Location Location has always been important and it is no more important than in the entertainment industry.