# Which niches are fragmented enough for buy-and-build?

> The niches of a market where many mid-sized businesses have observed revenue and no single giant leads.

**Who asks:** PE aggregator or holdco choosing a roll-up niche

## Example

**Question:** Where in fitness are there many mid-sized businesses and no clear giant, so we could build a platform from several acquisitions?

**Megido calls:**

- `search_cohorts`: 5 niches
- `get_cohort`: distributions ×3

**Answer:**

Two look fragmented: **Home gym equipment stores** and **Fitness clubs and gyms**, 50–199 businesses with observed revenue each, have 65% and 55% of members at 3k–75k visits a month respectively, and almost none above 1M. **Fitness management SaaS platforms** leans on larger players: 17% of its members get over 1M.

Real data from the corpus, as of August 2026.

## How your agent answers

1. `search_cohorts` found the closest niches in the market.
2. `get_cohort` returned how the three largest split by scale.

## Where it stops

Scale is domain traffic, not market share, and above 1M visits Megido cannot tell the largest player from the next.

## Ask your agent

```text
Where in [market] are there many mid-sized businesses and no clear giant, so we could build a platform from several acquisitions?
```