This article is a case study of a startup business that has identified an untapped niche in the market.

Getting Started

Introduction to the article (perhaps by having everyone read it):

Review with the class what a market niche is. Discuss how a business owner would determine their market niche.

Subject Area(s) covered:

Entrepreneurship, target market

Study and Discussion Activity

Key things students can learn from this lesson:

Students will learn about target markets and social buzz around a business concept.

Action (here’s how we’ll do it):

  • Distribute the article for reading.
  • In pairs have students discuss the target market for Ryna.
  • Ask them what is the best way to reach this target market.
  • The pandemic had a positive impact on Ryna’s ability to grow. Have students explain this.
  • Ryna has created a positive interdependence with a number of builders. What does this look like? Why do students think it is important?
  • What social buzz is created through these partnerships?

Consolidation of learning:

  • The article indicates that Song and Dao are considering raising capital to expand internationally. Brainstorm what this would look like.
Success and Additional Learning

Success Criteria:

  • Students understand what a market niche is and how to target it for success.

Confirming Activities:

  • Ryna is hoping to start offering career development and networking events for the tenants it places. Ask students: what is the value in that? How might this help expand their business?

Activities to do together:

  • Look through Kijiji or Craig’s list for rental apartments. Students should select six and analyze them to see if there is any bias. What did they find?