5 examples of how to choose a profitable niche

5 Examples of How to Choose a Profitable Niche By onlinemoneyblueprint.com

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Copyright © 2014 All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, without the prior written permission of the publisher.

Disclaimer All the material contained in this book is provided for educational and informational purposes only. No responsibility can be taken for any results or outcomes resulting from the use of this material. While every attempt has been made to provide information that is both accurate and effective, the author does not assume any responsibility for the accuracy or use/misuse of this information.

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I’m going to use 5 different examples of how to turn a broad market into a highly profitable niche. The reason that 90% of businesses fail is because business owners almost always go broad. They choose a large general market and try to appeal to everyone. For a business that is just starting out, this strategy does not work. You have to start off catering to a small, specific subcategory of the market you are targeting. Here are 5 examples of how to niche down large markets to find tons of highly lucrative niches within: 1. Pets Market In order to find a profitable niche within the pets market you’re going to want to choose just one pet. For example you don’t want to choose dogs and cats — you just want to choose dogs. Then you would want to dig down even deeper within that niche and find a specific product or category that pertains just to dogs. So for dogs you could choose a niche such as dog training. It’s something that a lot of dog owners want help with and are buying products for. The dog training niche is still too broad and will be difficult to gain traction in so we want to dig down even deeper and niche down another layer or two. Dog training for Siberian Huskies would be much easier to grow from the ground up since you will be targeting a specific problem and appealing to a specific audience.

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2. Dating There are many different angles you can take within the dating market. As with the pets market you want to start with a specific target. You want to choose either men or women for your target market. Then you want to find specific problems you can solve within your target market. For example you could have a niche that shows men how to get over approach anxiety when approaching and asking women out on a date. This is a problem that many men suffer from and are searching for solutions to. 3. Self Improvement Market There are tons of different topics and problems that you can target within self improvement which is what makes this such a fantastic market to find niches within. For example you could target productivity. You could find a specific group of people that are having trouble with being more productive. For example, you could choose productivity for new business owners. This is a highly targeted niche idea that would likely do well. 4. Wealth and Finance There are also tons of different niches within wealth and finance. You could teach people how to make money doing specific things. For example you could teach people how to make money by creating ebooks online. That is a very specific type of product that you can sell online and do really well with.

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Several people have made millions of dollars in this niche and it is still a very profitable niche. 5. Hobbies Hobbies are a great way to find niches. There are a huge number of hobbies out there that have a lot of potential. If you ever need to find ideas for hobbies it is simple. You can either go on Amazon or you can go to your local bookstore and look for a newsstand magazine rack and see which hobbies you can find and write down ideas. I checked out a magazine rack for niche ideas a couple months ago and I got flooded with niche ideas that I hadn’t thought of before. Now that you know how to properly choose a profitable niche, you are way ahead of the competition. All you have to do now is begin taking small steps every day towards your goals while applying this information and you will surely succeed. Photo By: Megan Swart

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