A profitable niche can be a subset of a market and it is created when there is an audience for a specific product or service. How to find a niche for an online business can be difficult task and many think the bigger the better, which in most cases, this is not true.
The video below, showcases how pick a niche.
Tips to consider
Find a niche you enjoy
Identify demand and supply
What is missing in your niche
Always aim to provide a solution
Research your niche, pros & cons
Identify if you want to provide a service or a product
The breakdown of a niche are as follows:
|Main Stream||this is the umbrella or the highest level of that niche or market|
|Niche||this is a subset of a broad market|
|Micro Niche||this further drills down from a niche|
- Mainstream Golf
- Niche: Golf Clubs
- Micro Niche: Women Golf Clubs