How to find a profitable niche for your online business

A niche product is a product targeting a specific section of a larger industry and market. Niche products are often (but not always) more expensive than more generic products.

Because niche products are fulfilling a particular specialist demand, we find that demand tends to be more price inelastic. This enables a firm selling niche products to generate a higher markup and profit margin – this can compensate for the lower volume.

Niche products can be provided by multinational companies, but they also give a better chance for smaller, private firms to be able to compete – because there is less need for economies of scale and high output.

How to find a profitable niche for your online business

A niche cycling company targeting ‘fat’ cyclists.

Examples of niche products

  • Organic foods – more expensive, but with promise of better quality / better for environment
  • Speciality foodstuffs – e.g. particularly expensive and high-quality coffee.
  • Customisable products, e.g. toys which can be individually tailored for children, e.g. choice of colours.
  • Retro style – e.g. traditional 35mm film cameras and films have become a niche. There is no longer the same economies of scale, but some consumers still like to use it.
  • Vinyl records – sold to music connoisseurs who value premium and authentic sound of vinyl records.
  • Specialist sizes – e.g. selling cycling clothes to people of larger size – like the UK company – ‘Fat Lad at the back.’ – A clothing company which focuses on meeting the needs of cyclists who don’t fit into usual skinny cycling clothes.
  • Asian TV/ religious tv channels. Satellite tv has made it easier to provide specialist tv channels, which would not make it on to the mainstream tv.
  • Diapers.com. A company specialising only in the sale of diapers (nappies). Previously diapers had been sold amongst drugstores and supermarkets where diapers were one product of many. This is now a specialist market.

Niche products and long-tail keywords

The internet has increased the potential for niche markets and niche business. The internet has reduced start-up costs and made it easier to reach a small number of niche customers.

Niche markets are a classic example of long-tailed keywords. For example, the large market is ‘filter coffee’ a longer tailed keyword would be ‘organic filter coffee’. Even longer tailed keywords would be ‘dry-roasted organic filter coffee.’ A niche business could be setting up a firm to specifically deal with these long-tailed keywords.

Advantages of the growth of niche markets

More choice for consumers. In many high-end products, such as clothes, food, drink – choice is as important as factors like price. Economists may place great stress on price. But, if the price was the only factor, we would all shop at Primark and Pound shops. A more important feature is the ability to choose. Perhaps this is strongest in terms of food and drink. Yes, McDonald’s is very efficient, but it is formulaic and people will appreciate the ability to go to niche, private cafes, food shops.

Quality. An attraction of multinational brands is that they can guarantee to customers a certain minimum standard of service. If you go to any country a well-known brand gives a guarantee of certain standards. However, many believe that this multinational scale prevents the product from being very high quality – or there is a lack of a personalised, individual service. This is where niche companies can improve on more generic brands – they can offer improvements based on region, personalisation and greater individuality.

Competitive pressures on brand names. Many brand names can develop monopoly power through there extensive brand loyalty. This can lead to the abuses of monopoly power, such as higher prices and fewer incentives. The growth of niche companies is an additional competitive pressure on the big multinationals. It can force them to think about a better individualised service and be more responsive to particular niche needs. Often big multinationals can end up doing niche products better than initial small firms. e.g. they can use their economies of scale to offer more sizes and choice of options.

Greater specialisation within consumer product industries. One thing that may happen is we get a greater number of sub-markets. Previously we had a fast food industry dominated by the like of McDonald’s, Burger King – now there is a much greater choice with sub-sections like healthy eating fast food, vegetarian fast food. Local product fast food.

Labour markets. Niche products offer more opportunities for entrepreneurs who wish to run their own business and not just work for a large multinational. This may lead to increased labour productivity as people feel more connected working for a niche which they feel a greater attraction to.

Potential downside of niche companies

Lack of economies of scale. Niche companies will not have the same economies of scale, and so it could lead to higher prices for consumers. In some industries like coffee, this may not matter too much. Many consumers may prefer the higher prices if the quality is better. But, other consumers may end up paying higher prices they don’t particularly want to.

Quality may suffer. Big brand names are successful because they have concentrated on an efficient way of delivering the desired product, Smaller niche firms may be more inefficient and not as good quality. However, if they are not as good quality, it is hard to see how they would be able to break the stranglehold of bigger brand names. With a niche product, you have to be good or you won’t be able to establish a market.

Conclusion

Overall, it is a positive development that many consumer product markets have seen the rise of niche brands which are able to appeal to a section of the market, not adequately covered by bigger multinationals. Helped by the internet, smaller private firms are able to meet particular niches.

August 15, 2017 By Alexander Cordova 4 Comments

How to find a profitable niche for your online businessAffiliate websites are a way for anyone to pick a topic, start writing, and hopefully see a decent passive income down the line. Unfortunately, choosing the a niche without enough potential could leave you with meager results for hundreds of hours of effort.

I’ve given affiliate blogging several chances in my day, and I’ve had a moderate amount of success. Along the way, I’ve learned how to spot niches with some potential, which is a valuable skill.

In this article, I’ll walk you through three ways to choose a profitable niche, the differences between each tactic, and why they work. Time is money, so let’s get started!

What Are Affiliate Sites?

Before worrying about choosing a profitable niche, you should understand how affiliate sites make money. Affiliate sites focus on marketing products and services sold by others to earn commissions.

An affiliate agreement is when a company or an individual agrees to pay you for successful referrals. For example, Amazon has a massive affiliates program where they pay you a percentage of the sales you generate using their affiliate links. Affiliate marketing is everywhere these days. In fact, we’re able to offer our own Blogging Mentorship Program for free because Bluehost sends us money for every customer we refer.

Getting people to trust your recommendations boils down to two factors: trust and authority. The former is earned by recommending only products and services you know are good. The latter relies on you building up a library of content broad enough to make you an authority within a given field. This is called your niche.

3 Ways to Choose a Niche for an Affiliate Site

If you’re familiar with marketing, you’ve probably heard the term ‘niche’ before. It refers to a particular segment of people with particular interests. For example, here at Leaving Work Behind, our niche is freelancing and all it entails. Let’s go over some tips to help you pick yours.

1. Find Inspiration in Your Hobbies

You’re most likely to enjoy building an affiliate site in a niche you already enjoy, which makes your hobbies a good place to start. For example, I love cooking so I might consider building an affiliate blog promoting cookware.

The great thing about using a hobby for your niche is your existing familiarity with the topic. This means you’ll spend less time doing research, which makes the writing process less stressful. Trust me, if you pick a niche that you don’t enjoy on some level, the work will be a chore. I learned that lesson when I tried to write dozens of articles about shoes. Never again.

If choosing a hobby sounds like the right approach for you, let’s go over a few simple steps to get you started:

  1. Make a list of your hobbies. Think long and hard to answer this question: Which would you most enjoy writing about?
  2. Next up, look for affiliate programs for your chosen hobbies. Which has the most earning potential?
  3. Once you have a final list of hobbies with potential affiliate programs, do market research to see whether there is enough interest to warrant the effort.

Any niche you choose should have a decent built-in audience. One good way to find out if there is a potential audience is by seeking out other big sites in your niche. If there’s competition, the topic is probably worth your time.

2. Look for Fields With Little Competition

As you can imagine, not all niches have the same level of appeal. For example, my cooking website could be a success if I chose to focus on Italian cuisine, but recipes featuring raw eggs would not be appetizing (don’t try that at home).

On the other hand, the more appealing your niche is, the harder it is to break into. If you go too competitive, you’ll never carve out your space. This is why I abandoned my shoe niche! To continue our cooking example, a quick Google search tells me there are thousands of cooking blogs out there. I would need to identify a more specific cooking niche to stand out. It’s also easier to find your audience if you write for a niche that’s not so well-known. That way, you can rise through the ranks faster with less effort.

The key to this method is identifying niches with little competition but enough traffic to make them worth your while. Here’s what works for me:

  1. Make a list of niches you think are good candidates write down search terms related to them.
  2. Use keyword research tools such as Google’s Keyword Planner to take those queries and find out their search volume.
  3. Look for keywords in the 2,000 to 5,000 range of searches per month. I find these are often good candidates with low competition.

Keep in mind you’ll want to target multiple of these keywords on your website. After all, you want to maximize traffic by expanding your audience as much as possible!

3. Target a Niche With Depth

Targeting a niche with little competition isn’t the only way to go. In fact, sometimes the smart move is to go for fields with as much depth as possible. That way, you’ll always have new topics and ideas to write about.

The more content you can produce, the more keywords you can rank for. Sure, it’ll probably be harder to break into the top search results for a popular niche, but the payoff can be much better. The steps, in this case, are quite simple:

  1. Make a list of niches with plenty of depth, such as cooking, or exercising.
  2. Narrow down your choices until you find a niche you feel comfortable writing and researching about.

For best results, you’ll want to consider going for a niche with depth that you enjoy. If one of your hobbies matches this description, you may have just hit the mother load.

However, do keep in mind affiliate sites aren’t a way to make money overnight. Regardless of your niche, you’re unlikely to see significant income until you have plenty of content. The more competitive your niche, the harder those first months will be, so keep your chin up!

Conclusion

Choosing a niche for your affiliate site is almost as important as the quality of its content. Without the former, your posts might never find an audience, and your efforts could be for nothing. Combine the two, and you may just have a success story on your hands (as long as you put in the time!).

Let’s recap three of the best ways to choose a niche for your next affiliate site:

  1. Find ideas for topics in your hobbies, by figuring out which of them can be monetized.
  2. Look for fields with little competition to break into the rankings faster.
  3. Target a niche with depth, so you won’t run out of topics to write about.

What questions do you have about how to choose a niche for your affiliate website? Let’s talk about them in the comments section below!

How to find a profitable niche for your online business

How do you find a profitable niche for your business? What will ensure your startup success?

Not even Google can be everything to everyone. They certainly didn’t even start out in maps, autonomous vehicles, drone delivery, video, or online pay per click ads. They started with a niche, gained a profitable foothold in the world and built a massive enterprise on top of that.

No matter how grand your big vision is, and even if you hit the ground running with billions of dollars in venture capital, you can’t be too broad at the beginning. You can’t spread yourself too thin. You’ll burn your resources, fail to get traction, won’t be strong in any area, and you’ll be vulnerable to many, many competitors.

If you want your startup business to survive and thrive, you have to pick a focused niche to start with. Then build on it and expand. To get to this next level you also need a niche that is truly profitable. So, how do you find and pick one especially for those that are wondering how to start a business in a few hours?

What Niche Can You Embed Yourself In?

When figuring out how do you find a profitable niche for your business, it’s far better to be able to really embed yourself in the space you want to start in. It will give you proximity to customers. It enables you to watch and understand their problems, to speak with them, get feedback and see how they are really using the first versions of your solution.

This may be a specific geographic market like New York City or Seattle. Or it can be a much tighter niche within a specific market.

For example; in real estate, a tight niche would be luxury condos in Manhattan, which are brand new construction and start at $1M and up.

In fitness, it could be US yoga instructors with their own studios and at least 20 students enrolled. Or it could be yacht owners with vessels at least 100 feet long and who dock in South Florida.

These are examples of niches that you can go embed yourself in to understand better and build a network. In these cases, you can go to Realtor and builder events in Manhattan, visit these yoga studios as a practitioner or national events where they congregate or spend your days at waterfront restaurants and bars in Fort Lauderdale.

What Will & Won’t Change In 10 Years?

Asking these two important questions has been in the DNA of some of the most successful supersized startups when thinking about how do you find a profitable niche for your business.

Think Jeff Bezos and Amazon. Be careful of jumping into a niche just because it is hot today and has been growing for the past five years. It could be dead tomorrow.

Instead, consider what won’t change in 10 years. What will people still need and do in 10 years from now?

Then ask what is likely to change? How are new technologies creating new platforms that the tools and experiences of tomorrow will be built on? What are the most pressing problems people and other businesses are likely to have in 10 years from now?

How Big Is This Niche?

Maybe you’ve already shortlisted a few niches you are interested in exploring. How big are they? What is the size of the total addressable market in these niches?

Knowing this isn’t just critical for your ability to balance the finances and make a profit or scale. It is vital for fundraising and finding a profitable exit.

If it is not at least billions of dollars, forget about it. It’s too small.

Learn more about measuring the size of your market in this fundraising training .

Remember that storytelling plays a key role in fundraising. This is being able to capture the essence of the business in 15 to 20 slides. For a winning deck, take a look at the template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.

Remember to unlock the pitch deck template that is being used by founders around the world to raise millions below.

ACCESS THE PITCH DECK TEMPLATE

Who You Resonate With

Who does your personal and corporate brand resonate with?

It’s not always the same as what you want. Your values and style and branding make you unique. You might think you are going in one direction, and find your offering resonates and gets the best feedback and attention and retention from a completely different group.

It’s far better if you can get a handle on this in advance and avoid wasting a lot of time, money, energy and frustration.

Who are you, your brand and company culture at its most authentic? Who else is like you or drawn to that?

What Is Championable?

A lot of people would like to create a new internet browser and search engine or hit social media network. Most don’t stand a chance at creating that. At least not with the budgets and market position they have today.

The purpose of finding a niche is to find one area you can dominate in fast. Some niches are already far overcrowded. Some have more providers than there are monthly customers. That’s not to say you can’t win big in niches with competition and even big competition. That can have advantages too. But you have to be able to win this niche.

We’ve seen Uber competitors in other countries get great traction, market share and raise hundreds of millions of dollars. We’ve seen startup mobile phone service companies get great traction against a few giants. We’ve seen disruptions in the insurance industry.

Whichever way you go, be confident you can own this niche. Then you can expand after you control this base.

A big part of this is being able to get enough data on this niche, being able to really know your target customers in this niche and having a unique competitive advantage that isn’t easily wiped out or replicated.

Who Will Pay For Your Product & How Much?

The greatest test when finding how do you find a profitable niche for your business is to know how many people will actually pay real money for what you are offering. To be profitable they have to be willing to pay enough to create a great margin. You need to be able to attract enough people at those prices. Start asking them to pay and see what you get.

Above all, get out there and test, test, test.

How to find a profitable niche for your online business

If you’re looking to set up an online business soon and start earning right away, you’ll need to choose from the right niche business ideas.

Because most fields are saturated and it will take a lot of time and work to rank high for keywords, beat the competition and become an authority, it’s better to choose a specific and profitable niche. So first, you’ll need to learn how to find niche business ideas.

A niche business might not appeal to everyone but it will target a certain group of people. Because that audience isn’t too big and your topic isn’t broad, you’ll be able to learn exactly what people want, get to know your competitors, write great content and optimize it.

You can then monetize your niche business ideas through affiliate marketing, your own product, or else.

With a standard online business idea, I’d suggest you follow your passion.

Meaning, it would be a market you enter that you’ll stay in for years, so it makes sense to be interested in the industry and know a lot about it.

This way you can teach others, share your experience, master the skill, and see progress much faster.

However, a side hustle that’s a specific niche might be boring, complex and rare. With the right amount of research, though, you can easily become known and start making big bucks.

To help you with the idea generation process, here’s how to find a niche business idea:

Steps to Finding Niche Business Ideas

1. Follow trends.

Technology is advancing, new niche markets are popping up every year, and certain fields that you might not be aware of are booming.

Getting your eyes on a niche product and starting a business around it early on can guarantee you ten figures if you do the work in the beginning. It can even become a passive income stream.

Some services in demand include bookkeeping and payroll, influencer marketing, renewable energy, cloud computing, 3D printing, consulting, home renovations, real estate marketing, virtual assistance, and more.

Some money-making industries are eSports, video gaming, drones and vaping, to name a few.

The fastest-growing companies in America for 2017, for example, are in Software, Energy, Finance and Consumer Products.

2. Involve tech.

How to find a profitable niche for your online business

Did you know people are now buying shampoos that use algorithms to customize the product according to the needs of the individual and give them the ideal hair? Yes, there’s a company like that.

This is what happens when you combine tech and beauty.

The beauty market itself is worth $22 billion and every next year that number is getting bigger. So coming up with innovating niche business ideas for products, simply starting an eCommerce business around them or just being their affiliate and offering them to your audience, is a sure way to enter the niche market and start making a solid income.

But tech can be combined with many other things too to create a profitable niche business idea. People now make apps for fertility tracking and thus enter yet another profitable and highly lucrative field.

But tech is transforming every market and aspect of life too.

Take agriculture, for instance. Digital technology is changing farming. Tech-savvy entrepreneurs know that this sector is a huge part of the world’s economy and is only going to evolve, so it makes sense to enter it in an innovative way.

However, the easiest way to combine tech with profitable niche business ideas is by starting an online business. For example, you can teach people how to use new beauty products with a video or write about the results.

You can offer Cannabis licensing consultancy via Skype and promote your services on your site and social media. As the legal cannabis industry is growing rapidly, more and more people are choosing this as their next niche business venture. You can help them with the legal part.

Did you know that the CBD industry is predicted to grow from $202 million in 2017 to $2.1 billion in 2020? It’s the reason why products like CBD Isolate are in high-demand. Buying and/or selling CBD oil might be a profitable business idea.

3. Learn a lot about the niche business idea.

After finding the right side hustle idea for you, you need to start the learning process.

This is the time-consuming aspect of a project like that as the industries that grow at a fast pace also have a big learning curve. Especially when tech is involved and it’s not something you have experience with.

But don’t worry. The Web is full of online courses on each subject and you can gain knowledge directly from experts.

One day you can teach others how to do the same. But for now, learn the basics related to your niche business idea and give it a try.

4. Know where other entrepreneurs find their ideas.

Sometimes it’s smarter to work with what you got. Meaning, you might have the right person in your surroundings who can introduce you to a profitable niche but will need your skills and qualities to actually set up a business.

Or it could be a forum, social media, Ebay or Amazon, or a product discovery site that helps you come up with the right business idea at the right time.

You never know what your next side hustle might look like so you need to keep your eyes open.

Understanding how to find niche business ideas that makes a lot of money might happen in a day but it might also take weeks or months just to make sure you’re onto something.

Don’t give up. Even if we’re talking about investing some of your savings into this profitable venture and having a lot to learn down the road, it’s worth the effort. That’s because you’re entering a niche that’s proven to have the highest ROI.

How to find a profitable niche for your online business

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How to find a profitable niche for your online business

Thanks for stopping by. I’m Lidiya, a blogger, course creator and founder of Let’s Reach Success.

I help high vibe women create an abundant, value-driven business so they can live a fearless life and provide epic value.

How to Find a Profitable Niche Market for Your Online Business

One of your first steps to becoming a successful online entrepreneur is to pick a profitable niche. Luckily, there are thousands of niches out there that you can choose. Unfortunately, not all niches are profitable, and not all will appeal to you. However, here’s how you can find a profitable niche for your online business and get on the path to success.

Step #1 – Research

If you want to find the right niche for your online business, then you’re going to have to spend some time researching keywords based on your interests and the demand in the market. So, the first thing that you should do is write down a list of all the possible ideas you have for your business.

Write down anything that comes to your mind. Once you’ve written everything down, choose your top five niches. Focus on those ideas that you would most enjoy doing for a living.

Step #2 – Narrow Down Your Niche

For each of the five niche topics that you choose, you’re now going to do some keyword research to determine the number of searches conducted every month that are related to your business. Start by doing a Google search of the keywords that are related to your top five ideas. Make sure to search not only the broad topic, but also the more specific aspects as well.

Once you’ve found a handful of keywords, you can do a keyword search with Google Ads Keyword Planner to determine the monthly search volume for each keyword. When you enter your keywords into the tool, it will show you how many searches were conducted per month for that particular keyword. If it shows more than 10,000 searches per month, it’s usually a good indication that the niche is a profitable one.

Step #3 – Pick Your Online Niche

After you’ve researched your keywords, the final step is deciding which niche you will choose. Look at the five top topics that you research and make your decision. You want to make sure that you choose a niche that will be both viable and profitable, based on your keyword research, as well as one that interests you. If you aren’t interested in the niche you choose, chances are you won’t last very long in the business.

Once you’ve chosen a niche market, you can start to create the products you want to sell and identify and build your audience. Finding your niche is just the first step to running a profitable online business.

The winning formula is to find something that you’re passionate about and that your audience is interested in. Figure out the problems your audience is suffering from and offer them a solution through your content and products.

The best way to do this is through objective data from your target market. See what they’re discussing online and find out how you can help.

How to find a profitable niche for your online business

Where do you go for this information?

Here are 10 places to conduct research and see what your audience is talking about so you can choose the perfect business niche.

1. Keyword Search

Use Google’s free Keyword Planner tool to see which keywords are popular. You can find out if your ideas are popular but also get suggested terms to consider.

2. Social Media

Social media offers a wealth of information. See what people are discussing related to your topic. See who people are following and what content they’re liking, sharing, or engaging with.

3. Blog

Look for blogs in your topic area and see what people are writing about. Read the comments of popular blogs to see what readers are saying and asking.

4. YouTube Videos

Search for your topic area in YouTube and see what you can find there. You’ll find videos on your topic with comments you can read but also sub-topics that can be niche ideas for you.

5. Online Reviews

Product reviews offer a great place to get ideas. Look at review blogs and customer reviews in online marketplaces like Amazon and eBay.

6. Community Forums

Sites like Reddit and Quora offer a great place for you to be a fly on the wall and listen to people ask questions and discuss issues they’re facing. It’s a great way to get niche ideas.

7. Look at Products

Look at online marketplaces for products you might sell. If you find something your audience needs, you can choose a niche based on that product or product type.

8. The Competition

Look around online to see who else is in the niche, what content they’re producing, and what they’re selling. You’ll get ideas on what’s popular, but also learn about what’s already out there so you can set yourself apart.

9. Turn on the TV

See what’s on TV and watch the news for trending topics. You might find something timely or a problem many people are facing that you could tackle.

10. Check the Calendar

What events have affected your ideal client? Sometimes you can find create a very specific niche based on events that have happened in the world.

Example: Stress & Habits Coach

Here is a VERY simple way to do market research even when you are a brand new coach or a fully booked coach wanted to get deeper insight with your ideal client!

The best practice is to start with the things you’re passionate about. Conduct the above research to assess the interests and needs of your target market. Then, assess whether your niche ideas are potentially profitable or not. Brainstorm a big list and narrow it down until you’ve found the right one.

Do you want to learn more about finding the right business niche? Check out my course, COURSE NAME, which teaches you the A to Z of finding the perfect niche for your business and helps you achieve your business goals.

Rachel

How to find a profitable niche for your online business

How to find a profitable niche for your online business

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How to find a profitable niche for your online business

If you’re looking to set up an online business soon and start earning right away, you’ll need to choose from the right niche business ideas.

Because most fields are saturated and it will take a lot of time and work to rank high for keywords, beat the competition and become an authority, it’s better to choose a specific and profitable niche. So first, you’ll need to learn how to find niche business ideas.

A niche business might not appeal to everyone but it will target a certain group of people. Because that audience isn’t too big and your topic isn’t broad, you’ll be able to learn exactly what people want, get to know your competitors, write great content and optimize it.

You can then monetize your niche business ideas through affiliate marketing, your own product, or else.

With a standard online business idea, I’d suggest you follow your passion.

Meaning, it would be a market you enter that you’ll stay in for years, so it makes sense to be interested in the industry and know a lot about it.

This way you can teach others, share your experience, master the skill, and see progress much faster.

However, a side hustle that’s a specific niche might be boring, complex and rare. With the right amount of research, though, you can easily become known and start making big bucks.

To help you with the idea generation process, here’s how to find a niche business idea:

Steps to Finding Niche Business Ideas

1. Follow trends.

Technology is advancing, new niche markets are popping up every year, and certain fields that you might not be aware of are booming.

Getting your eyes on a niche product and starting a business around it early on can guarantee you ten figures if you do the work in the beginning. It can even become a passive income stream.

Some services in demand include bookkeeping and payroll, influencer marketing, renewable energy, cloud computing, 3D printing, consulting, home renovations, real estate marketing, virtual assistance, and more.

Some money-making industries are eSports, video gaming, drones and vaping, to name a few.

The fastest-growing companies in America for 2017, for example, are in Software, Energy, Finance and Consumer Products.

2. Involve tech.

How to find a profitable niche for your online business

Did you know people are now buying shampoos that use algorithms to customize the product according to the needs of the individual and give them the ideal hair? Yes, there’s a company like that.

This is what happens when you combine tech and beauty.

The beauty market itself is worth $22 billion and every next year that number is getting bigger. So coming up with innovating niche business ideas for products, simply starting an eCommerce business around them or just being their affiliate and offering them to your audience, is a sure way to enter the niche market and start making a solid income.

But tech can be combined with many other things too to create a profitable niche business idea. People now make apps for fertility tracking and thus enter yet another profitable and highly lucrative field.

But tech is transforming every market and aspect of life too.

Take agriculture, for instance. Digital technology is changing farming. Tech-savvy entrepreneurs know that this sector is a huge part of the world’s economy and is only going to evolve, so it makes sense to enter it in an innovative way.

However, the easiest way to combine tech with profitable niche business ideas is by starting an online business. For example, you can teach people how to use new beauty products with a video or write about the results.

You can offer Cannabis licensing consultancy via Skype and promote your services on your site and social media. As the legal cannabis industry is growing rapidly, more and more people are choosing this as their next niche business venture. You can help them with the legal part.

Did you know that the CBD industry is predicted to grow from $202 million in 2017 to $2.1 billion in 2020? It’s the reason why products like CBD Isolate are in high-demand. Buying and/or selling CBD oil might be a profitable business idea.

3. Learn a lot about the niche business idea.

After finding the right side hustle idea for you, you need to start the learning process.

This is the time-consuming aspect of a project like that as the industries that grow at a fast pace also have a big learning curve. Especially when tech is involved and it’s not something you have experience with.

But don’t worry. The Web is full of online courses on each subject and you can gain knowledge directly from experts.

One day you can teach others how to do the same. But for now, learn the basics related to your niche business idea and give it a try.

4. Know where other entrepreneurs find their ideas.

Sometimes it’s smarter to work with what you got. Meaning, you might have the right person in your surroundings who can introduce you to a profitable niche but will need your skills and qualities to actually set up a business.

Or it could be a forum, social media, Ebay or Amazon, or a product discovery site that helps you come up with the right business idea at the right time.

You never know what your next side hustle might look like so you need to keep your eyes open.

Understanding how to find niche business ideas that makes a lot of money might happen in a day but it might also take weeks or months just to make sure you’re onto something.

Don’t give up. Even if we’re talking about investing some of your savings into this profitable venture and having a lot to learn down the road, it’s worth the effort. That’s because you’re entering a niche that’s proven to have the highest ROI.

How to find a profitable niche for your online business

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Hey, I’m Lidiya

How to find a profitable niche for your online business

Thanks for stopping by. I’m Lidiya, a blogger, course creator and founder of Let’s Reach Success.

I help high vibe women create an abundant, value-driven business so they can live a fearless life and provide epic value.

The winning formula is to find something that you’re passionate about and that your audience is interested in. Figure out the problems your audience is suffering from and offer them a solution through your content and products.

The best way to do this is through objective data from your target market. See what they’re discussing online and find out how you can help.

How to find a profitable niche for your online business

Where do you go for this information?

Here are 10 places to conduct research and see what your audience is talking about so you can choose the perfect business niche.

1. Keyword Search

Use Google’s free Keyword Planner tool to see which keywords are popular. You can find out if your ideas are popular but also get suggested terms to consider.

2. Social Media

Social media offers a wealth of information. See what people are discussing related to your topic. See who people are following and what content they’re liking, sharing, or engaging with.

3. Blog

Look for blogs in your topic area and see what people are writing about. Read the comments of popular blogs to see what readers are saying and asking.

4. YouTube Videos

Search for your topic area in YouTube and see what you can find there. You’ll find videos on your topic with comments you can read but also sub-topics that can be niche ideas for you.

5. Online Reviews

Product reviews offer a great place to get ideas. Look at review blogs and customer reviews in online marketplaces like Amazon and eBay.

6. Community Forums

Sites like Reddit and Quora offer a great place for you to be a fly on the wall and listen to people ask questions and discuss issues they’re facing. It’s a great way to get niche ideas.

7. Look at Products

Look at online marketplaces for products you might sell. If you find something your audience needs, you can choose a niche based on that product or product type.

8. The Competition

Look around online to see who else is in the niche, what content they’re producing, and what they’re selling. You’ll get ideas on what’s popular, but also learn about what’s already out there so you can set yourself apart.

9. Turn on the TV

See what’s on TV and watch the news for trending topics. You might find something timely or a problem many people are facing that you could tackle.

10. Check the Calendar

What events have affected your ideal client? Sometimes you can find create a very specific niche based on events that have happened in the world.

Example: Stress & Habits Coach

Here is a VERY simple way to do market research even when you are a brand new coach or a fully booked coach wanted to get deeper insight with your ideal client!

The best practice is to start with the things you’re passionate about. Conduct the above research to assess the interests and needs of your target market. Then, assess whether your niche ideas are potentially profitable or not. Brainstorm a big list and narrow it down until you’ve found the right one.

Do you want to learn more about finding the right business niche? Check out my course, COURSE NAME, which teaches you the A to Z of finding the perfect niche for your business and helps you achieve your business goals.

Rachel

How to find a profitable niche for your online business

How to find a profitable niche for your online business

The Profitable Wellness Biz Blueprint Series

A FREE recorded video training for Health and Wellness Coaches. Create a standout biz that books clients like clockwork.

Health & Wellness Coach Topics

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

As seen in:

Inside My Daily Life on Instagram

How to find a profitable niche for your online business

How to find a profitable niche for your online business

Welcome to my world…

  • 86. A Step By Step Training On How To Develop Your Signature Systems & Processes
  • 85. How To Take Ownership Of Every Part Of Your Business with Samantha Edwards
  • 84. Finding Clarity On Your Offers Before Hopping On A Discovery Call
  • 83. How To Set Up Your Discovery Call Process For Success

Connect with me…

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Twitter

DISCLAIMER OF HEALTH CARE RELATED SERVICES Rachel Feldman encourages her you/her client´s to continue to visit and to be treated by his/her healthcare professionals, including, without limitation, a physician. Understand that Rachel Feldman is not acting in the capacity of a doctor, licensed dietician-nutritionist, psychologist or other licensed or registered professional. Accordingly, the you understand that Rachel Feldman is not providing health care, medical or nutrition therapy services and will not diagnose, treat or cure in any manner whatsoever any disease, condition or other physical or mental ailment of the human body.

© 2021 Rachels Wellness & Wellness Business Solutions™ | Terms & Conditions | Privacy Policy | Contact M-F 9am – 5pm EST (561)451 5300

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  • Work With Me
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By continuing to use the site, you agree to the use of cookies. more information Accept

The cookie settings on this website are set to “allow cookies” to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click “Accept” below then you are consenting to this.

The winning formula is to find something that you’re passionate about and that your audience is interested in. Figure out the problems your audience is suffering from and offer them a solution through your content and products.

The best way to do this is through objective data from your target market. See what they’re discussing online and find out how you can help.

How to find a profitable niche for your online business

Where do you go for this information?

Here are 10 places to conduct research and see what your audience is talking about so you can choose the perfect business niche.

1. Keyword Search

Use Google’s free Keyword Planner tool to see which keywords are popular. You can find out if your ideas are popular but also get suggested terms to consider.

2. Social Media

Social media offers a wealth of information. See what people are discussing related to your topic. See who people are following and what content they’re liking, sharing, or engaging with.

3. Blog

Look for blogs in your topic area and see what people are writing about. Read the comments of popular blogs to see what readers are saying and asking.

4. YouTube Videos

Search for your topic area in YouTube and see what you can find there. You’ll find videos on your topic with comments you can read but also sub-topics that can be niche ideas for you.

5. Online Reviews

Product reviews offer a great place to get ideas. Look at review blogs and customer reviews in online marketplaces like Amazon and eBay.

6. Community Forums

Sites like Reddit and Quora offer a great place for you to be a fly on the wall and listen to people ask questions and discuss issues they’re facing. It’s a great way to get niche ideas.

7. Look at Products

Look at online marketplaces for products you might sell. If you find something your audience needs, you can choose a niche based on that product or product type.

8. The Competition

Look around online to see who else is in the niche, what content they’re producing, and what they’re selling. You’ll get ideas on what’s popular, but also learn about what’s already out there so you can set yourself apart.

9. Turn on the TV

See what’s on TV and watch the news for trending topics. You might find something timely or a problem many people are facing that you could tackle.

10. Check the Calendar

What events have affected your ideal client? Sometimes you can find create a very specific niche based on events that have happened in the world.

Example: Stress & Habits Coach

Here is a VERY simple way to do market research even when you are a brand new coach or a fully booked coach wanted to get deeper insight with your ideal client!

The best practice is to start with the things you’re passionate about. Conduct the above research to assess the interests and needs of your target market. Then, assess whether your niche ideas are potentially profitable or not. Brainstorm a big list and narrow it down until you’ve found the right one.

Do you want to learn more about finding the right business niche? Check out my course, COURSE NAME, which teaches you the A to Z of finding the perfect niche for your business and helps you achieve your business goals.

Rachel

How to find a profitable niche for your online business

How to find a profitable niche for your online business

The Profitable Wellness Biz Blueprint Series

A FREE recorded video training for Health and Wellness Coaches. Create a standout biz that books clients like clockwork.

Health & Wellness Coach Topics

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

How to find a profitable niche for your online business

As seen in:

Inside My Daily Life on Instagram

How to find a profitable niche for your online business

How to find a profitable niche for your online business

Welcome to my world…

  • 86. A Step By Step Training On How To Develop Your Signature Systems & Processes
  • 85. How To Take Ownership Of Every Part Of Your Business with Samantha Edwards
  • 84. Finding Clarity On Your Offers Before Hopping On A Discovery Call
  • 83. How To Set Up Your Discovery Call Process For Success

Connect with me…

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Twitter

DISCLAIMER OF HEALTH CARE RELATED SERVICES Rachel Feldman encourages her you/her client´s to continue to visit and to be treated by his/her healthcare professionals, including, without limitation, a physician. Understand that Rachel Feldman is not acting in the capacity of a doctor, licensed dietician-nutritionist, psychologist or other licensed or registered professional. Accordingly, the you understand that Rachel Feldman is not providing health care, medical or nutrition therapy services and will not diagnose, treat or cure in any manner whatsoever any disease, condition or other physical or mental ailment of the human body.

© 2021 Rachels Wellness & Wellness Business Solutions™ | Terms & Conditions | Privacy Policy | Contact M-F 9am – 5pm EST (561)451 5300

  • Start Here
  • About
  • Work With Me
  • Shop
  • Free Tools
  • Podcast
  • Blog
  • Praise
  • Contact

By continuing to use the site, you agree to the use of cookies. more information Accept

The cookie settings on this website are set to “allow cookies” to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click “Accept” below then you are consenting to this.